Today’s Top Stories – February 16th 2023

Here are Today’s Top Stories from the World of #Fintech ? Make sure to follow our LinkedIn page to stay up to date on all the latest developments in #FintechNews

? Access to financing has long been a major hurdle for businesses eyeing growth. Against this backdrop, Visa, Froda and Lunar are announcing a global partnership and launching a new, innovative technology aimed at resolving these issues – for good. The product, which for the first time utilizes push-payment functionality for financing, aims to reduce transaction times to mere seconds. Ordinarily, this process would have taken months.

The fintech company Froda has formed a partnership with Visa to develop a brand-new loan solution for businesses. Initially, Froda and Visa are joining forces with the Nordic digital bank Lunar. Within the framework of the partnership, Lunar’s customers gain access to business loans through Froda’s proprietary embedded lending platform, featuring direct payments and repayments via Visa’s card. Visa’s presence in over 200 countries and territories provides a consistent experience regardless of market, making the product globally scalable.

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? Zopa is set to acquire DivideBuy’s point-of-sale (POS) finance technology and lending platform. The transaction, which will complete in the next few months, marks Zopa’s first acquisition.

Embedded finance is a $7.2 trillion opportunity globally, according to Dealroom. The deal is expected to increase Zopa’s revenue by at least 20% in the next few years. This move is a response to the consumer need to simplify their finances. Together, Zopa and DivideBuy will bring a simple and fair solution for larger purchases (£250 – £30,000) that may otherwise take a customer months or years to save for.

The BNPL 2.0 offering will combine technology and fintech innovation to enable instant decisions and fully integrated consumer journeys with consumer protection, credit checks and safeguards of a regulated bank.

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? Fintech DNA Payments, one of the largest independent, fully vertically integrated omnichannel payments companies in the UK, has partnered with Mastercard to deliver Click to Pay for merchants across the UK and Europe. Mastercard Click to Pay offers a simple and secure checkout experience giving consumers instant access to their preferred cards on every device, eliminating the need to manually enter card details or remember passwords.

DNA Payments provides acquiring services and card payment acceptance solutions to retailers in-store, online, and via mobile. Adding Click to Pay to DNA Payments’ Ecommerce gateway services will present a seamless upgrade to merchants’ existing payment solutions. There’ll be no additional integration or onboarding for existing merchants and partners and no uplift in fees; the merchants will benefit from increased security, faster customer checkouts and an improved customer experience.

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