Our bi-weekly news roundup collects some of the headlines in payments and fintech to watch, giving leaders across industries (or fintech enthusiasts) a quick glance at some of the news in the space. In Flywire’s 10+ years in 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 has become – not just across the industries we focus on, but every industry.
Headlines
Same-day, B2B payments fuel ACH growth - Payments Dive
B2B payments rose 11.8% year-over-year, according to Nacha, with same-day ACH for B2B payments increasing by 44%.
How do real-time payments work? - American Banker
American Banker’s John Adams provides a very useful primer on real-time payments, and how they impact businesses and consumers.
India ties up with Singapore for its first real-time overseas payments link -Reuters
A link between India’s Unified Payments Interface (UPI) and Singapore’s PayNow facility allows consumers to transfer funds through mobile phones.
What Are the Major Pain Points for B2B Payments? - Fintech Magnates
By paying attention to security, visibility, fees and payment options, businesses can ease B2B payment processes with their payment providers.
UK Consumer Payment Habits - Insider Intelligence
This new report looks at the emergence of the UK as a leader in digital payments in Europe. (subscription required).
Redefining the patient financial journey - Omnia Health
Streamlining payment processes is one place where finance can help improve efficiencies and mitigate risk, one healthcare CFO writes.
US Card Skimming Grew Nearly 5X in 2022, New FICO Data Shows - FICO
Card skimming increased by a factor of 5 in 2022, with nearly 3,000 unique financial institutions impacted. The author shares advice on securing card transactions.
From Flywire
Flywire Partners with FranConnect to Provide Integrated B2B Payments Solution to the Franchise Industry
The partnership between Flywire and FranConnect is designed to provide franchisors more efficiency and access to analytics to help accelerate payment collection processes around, for instance, collecting contract fees and managing ongoing royalty payments.
Partner spotlight: See how TRUE North and Flywire unite to guide the international K-12 student journey in Canada
From admissions to payment, when it comes to international K-12 education in Canada, there are many moving parts. TRUE North helps bring these parts together to allow both schools and families to securely track and manage their international education experience.
How to Land a Job at Flywire - VentureFizz
Laura Ladd, Sr. Manager of Global Talent Acquisition, talks about how to succeed and build a career at Flywire.
Stat of the week
7 million - the number of consumers and SMEs actively using open banking powered services in the U.K., data from the regulatory agencies set up to implement open banking showed.
Report of the week
SWIFT and ISO 20022: The impact on payments explained - FXC Intelligence
SWIFT will begin to migrate cross-border payments onto the ISO 20022 standard, with the aim of increasing transparency and boosting interoperability between banks. FXC Intelligence breaks down everything payments professionals need to know about ISO 20022, and what it means for cross-border payments.
Word of the week
Super app - a bundle of a wide range of virtual products, services and financial capabilities rolled into one platform.
WeChat is an example of a super app. It combines all sorts of things consumers use in their daily life with messaging and payment capabilities. Users in China use WeChat to message friends, buy groceries, hail a ride, book doctor’s appointments and much more. But can that work in the US? Tearsheet poses the question in “Do US super apps stand a chance in today’s embedded finance landscape?”
Conversation starter
Ukraine’s Startups Kept Innovating Through 1 Year of War - Wired
“Founders and coders have shipped updates through blackouts and from bomb shelters,” the author writes, as the war enters its second year.