Mobile wallets

In countries where the use of cards is less prevalent, other digital payment methods, particularly mobile wallets, are proliferating, changing the payments landscape rapidly and radically, says Standard Chartered's Tarek Elyafi.

Even before the COVID-19 pandemic forced retailers and consumers alike to consider the benefits of shopping via a mobile app, providers of shopping and loyalty apps were seeking partnerships with security vendors to deploy fraud prevention technology.

Donor management provider Pushpay has added new software that will help churches target donations through digital channels while providing more interactions and communication within congregations.

Walmart’s membership service undercuts Amazon Prime on price and offers myriad perks, including access to streamlined checkout and deliveries — two areas where Walmart has struggled in the past.

Remitly has added 11 new mobile wallets to its network, almost doubling its reach to 300 million consumers, to meet demands for cash alternatives amid the COVID-19 pandemic.

Viva Wallet's cloud-based payments service will soon reach merchants in 23 European countries through an expanded acceptance agreement with Japan’s JCB card network. The move comes a few weeks after the Greek fintech became a bank.

Unicomer Group, Latin America’s equivalent of Best Buy, has teamed up with YellowPepper to develop a digital credit app that acts as a financial services center for underbanked and unbanked consumers.

The shift to electronic payments during the coronavirus has led to a notable increase in in-app debit card payments—particularly via Apple Pay—along with higher levels of direct debit and P2P debit card transfers.

On-demand delivery service Rappi is leveraging its huge customer base to provide financial products to Latin American consumers through partnerships and joint ventures with fintechs and banks.

Ant Group is planning one of Asia’s largest IPOs while the world’s afflicted by a global pandemic, political turmoil and historic economic stress. Despite the chaos — or perhaps because of it — the timing could be right for Ant to challenge the global order in e-commerce and digital payments.