Our regular news roundup collects headlines in payments and fintech to watch, giving leaders across industries (and fintech enthusiasts) a quick glance at some of the news in the space. In Flywire’s 12+ years delivering the most complex, high value payments, we’ve had a unique opportunity to work with many different organizations in the fintech and payments ecosystem. We’ve seen changes in how clients get paid, how their customers want to pay and how central the payments experience is – not just across the industries we focus on, but every industry.
Here are some of the fintech and payments headlines from July and August 2024.
Headlines:
The Most Influential Women in Payments Next, 2024 – American Banker
In late August, American Banker published its fourth annual list of rising stars in the payments industry. We’re beyond proud to see the inclusion of Flywire’s Aimee Schmaker, who heads up our B2B partnership efforts. The list honors women 40 years old and younger who are making a major business impact, inspiring colleagues and changing the industry. Congrats to Aimee and all the other honorees!
As Costs Continue to Grow, So Is the Gap Between High- and Low-Performing Hospitals – MedCity News
Hospital finances seem to be stabilizing overall but there is a widening gap between the highest- and lowest-performing organizations, according to a new report from Kaufman Hall which examined data from 1,300 hospitals.
The Complexity of Commercial Payments Isn’t Often Understood – PaymentsJournal
The largest corporations and financial institutions make payments and transfer funds at a magnitude that far exceeds consumer transactions. However, even seasoned professionals may not fully grasp all the nuances. Javelin Strategy & Research created A Modern-Day Primer on Commercial and Enterprise Payments—an intro to commercial payments for anyone in the space, from college grads to seasoned pros.
How the World Does Digital: Gen Z and Millennials Drive Singapore’s Digital Economy – PYMNTS.com
Singapore earned the No. 2 ranking in PYMNTS’ recently released report, How the World Does Digital, a detailed analysis of digital engagement trends across 11 countries including the United States, United Kingdom and Brazil.
One Year On, FedNow Is Still Waiting for Its Critical Moment – PaymentsJournal
Globally, roughly 80 countries have implemented an instant payment network with many big success stories. But the U.S. initiative, FedNow, has yet to become an integral part of the country’s payment system. This article looks at why and what might change that.
UK open banking hits 10 million users – FinExtra.com
The milestone comes six-and-a-half years after the rollout of open banking in the UK, building an ecosystem worth more than £4 billion to the economy.
Sports Tourism’s Moment: Real Life, No Screens, Big Money – Skift.com
In 2022, the global sports tourism market was valued at $587.9 billion, according to Grand View Research. It is projected to reach $2.1 trillion by 2030, with a compound annual growth rate of 17.5%.
From Flywire:
Invoiced augments Flywire’s B2B payments solution with workflow automation software purpose-built for mid-market companies to streamline the entire AR process. The acquisition also extends Flywire’s customer footprint across a diversified customer base and accelerates our investment in software and payments innovation for the B2B industry.
SKKU wanted their payment process to be seamless and more convenient for both students and finance staff. The modern online payment experience powered by Flywire is translating to o increased student satisfaction and improved internal process efficiency.
Aqua Expeditions delivers seamless luxury client experience with payments powered by Flywire
As the winner of Travel + Leisure’s World’s Best River Cruise Line award in both 2023 and 2024, Aqua Expeditions is unmistakably a luxury travel brand, dedicated to client service excellence. With this in mind, the company turned to Flywire to elevate its payment experience to the same level.
Flywire Reports Second Quarter 2024 Financial Results
In early August, Flywire, reported on its financial results for its second quarter ended June 30th.
Talent.com implements Flywire to drive global growth
Talent.com switched to Flywire for international B2B payment collection thanks to its Yaypay integration, automated reconciliation and dedicated support.
Flywire partners with HDFC Credila to streamline cross-border education loan payments from India
HDFC Credila is the largest independent student loan provider in India. The partnership enables Indian payers to digitally disburse their loan payments in their local currency (Indian Rupees) directly to higher education institutions all over the world.
4 luxury traveler insights for expedition cruise, liveaboard and chartered yacht providers
The popularity of water-based tourism is exploding, driven by luxury travelers’ desire for exclusive but authentic experiences in remote destinations. While seemingly quite different, expedition cruises, yacht charters, and liveaboard diving trips offer once-in-a-lifetime adventures without sacrificing comfort.
Opportunities still strong for international students in Canada as higher education policies unfold
As new policies aimed at boosting international student success and channeling more sustainable immigration flows are operationalized across Canada, the downstream impacts for higher education institutions have been significant. But education institutions want to make it clear that Canada’s education sector is open and welcoming international students.
Report of the Month:
Why Treasurers’ Influence Matters – PYMNTS.com
Treasurers are on the front lines of keeping a company financially healthy, yet they often lack influence and collaboration. PYMNTS Intelligence’s latest 41-page study examines the benefits of involving treasurers in the company’s strategic decisions.
State of Travel 2024 – Skift.com
Travel businesses are growing with healthy margins but many questions linger—about a potential recession, travelers in China, budget airlines, the impact of AI-powered tech tools and more. Skift’s report is designed to help navigate these complexities with consumer insights, sector deep dives, and executive perspectives.
Stat of the Month:
93 million
The number of valid Indian passports, up from 52 million just a decade ago.
Word of the Month:
How can organizations protect themselves from external shocks that nobody can predict? There is no perfect solution, but there are steps we can take to soften the impact.
Conversation Starter:
From Forbes Daily: For many athletes that competed in the Paris Olympics, medals or prizes awarded during the games are tax-exempt, thanks to a 2016 law. But athletes earning over $1 million in adjusted gross income must report and pay tax on their winnings, including the cost of the medal and any associated prize money. Plus, any appreciation in the value of the medals themselves would be taxed, if and when they’re ever sold.