The AI Platform Is Closer Than Some Rivals, but It Still Faces Barriers

Bolt launched a super app, named SuperApp, that combines payments, banking, crypto trading, rewards, and shopping, per a press release. For the select few crypto-forward consumers, Bolt’s crypto reach across 40+ cryptocurrencies could be attractive but there’s not much differentiating it from fintechs that already offer crypto services, like PayPal or Cash App.

Adyen partnered with Simons, Canada’s oldest family-owned retail business. This tie-up will bring Klarna, AliPay, and WeChat to checkout. Deepening merchant partnerships help outsider or alternative finance platforms gain a foothold in new territories. Klarna has pushed tie-ups with Walmart, Bolt, and DoorDash to break into the US and Canadian markets, a formula that seems to be working as it waits for its Klarna Card to get off the ground in North America.

The tie-up comes two years after Visa, Mastercard, and Discover began working with the firm

The wallet has pushed to capture more payment volume from inbound travelers to China and Chinese travelers abroad

The rollout extends Klarna’s in-store push and bolsters Alipay’s global expansion efforts

Like many other payment providers globally, Alibaba is opening up its walled garden to fight off antitrust scrutiny

In the fourth of five reports in our “Payments Ecosystem” collection, we look at what’s influencing growth across P2P, remittance, bill pay, payroll, and B2B transactions—and what it means for payment providers.

No other market in the world comes close to China when it comes to ecommerce. Its highly competitive digital market has spurred retail innovations that are making their way around the world.

Ant Group’s cross-border payments arm will help wallets from across Asia-Pacific operate in mainland China during the 2022 Asian Games.

Canada is behind other Western economies in digital payments adoption, but new technologies are finding footing against cards. Diving into usage among different demographic groups foretells how adoption will progress.

Consumer device and behavior trends are affecting payment providers’ strategies across retail, P2P, B2B, disbursement, and cross-border channels. Here’s what that means for the payments ecosystem.

Profits slid 63% YoY in the three months ending in June as the government clamped down on the firm. Overseas Alipay expansion may help reinvigorate growth.

It launched Ant Bank PayLater, which will let AlipayHK users spread purchases across three-month installment plans.

In 2022, four of the six Southeast Asian countries in our forecast will see double-digit growth in their number of proximity mobile payment users. Beyond delivering convenience to consumers, a host of other factors are driving adoption in the region.

New use cases like adding credit card advances could counter the CBDC’s growth and help titans maintain their market dominance.

AirAsia, one of the world’s largest budget airlines, is on a mission to build a regional super app. While it follows in the footsteps of titans like WeChat in China and Gojek in Southeast Asia, if AirAsia succeeds, it will blaze a path for travel and other industries not endemic to the mobile space.

Mobile payments are near universal across use cases in China, thanks to high mobile penetration and the rise of a wallet duopoly that’s made them accessible, affordable, and convenient.