With millions of members across 20+ countries, Vinted is revolutionizing the second-hand fashion industry by empowering individuals to buy and sell pre-loved items with ease through its digital platform. Through the partnership, Vinted has been able to further its mission by leveraging Checkout.com’s advanced payment technology to optimize transaction performance and support its growing user base. Not only has this improved Vinted’s payment performance, but it has resulted in an improved digital experience for its customers.

The use of Checkout.com’s innovative payment solutions has supported this success. One key component has been Checkout.com’s Intelligent Acceptance offering, which delivers a boost in acceptance rates by applying bespoke AI optimizations tailored to Vinted’s specific traffic patterns. These data-driven improvements have reduced failed transactions and strengthened user trust, driving greater engagement on the platform. As a result, Vinted experienced a 4.15% overall acceptance rate uplift on payments processed by Checkout.com in 2024.

These strong results have strengthened the partnership between Vinted and Checkout.com, which has grown significantly. Between June and November of last year, Vinted tripled the volume of transactions processed by Checkout.com, underscoring the measurable impact of high-performing payment infrastructure in supporting rapid growth.

Checkout.com’s deep regulatory expertise and localized acquiring network across Europe have been critical in enabling Vinted to navigate complex market demands. The partnership ensures compliance with region-specific regulations while supporting local currencies, giving Vinted the flexibility and scalability needed to thrive in diverse markets.

Modestas Tursa, VP Payments, at Vinted, said “Delivering exceptional digital experiences is core to our mission of making second-hand first choice, and our partnership with Checkout.com has been instrumental in helping us achieve that. Checkout.com’s powerful technology and deep expertise across European and UK markets allow us to scale confidently while achieving high-performance payments and delivering the digital experience our users expect.”

Antoine Nougué, Chief Revenue Officer at Checkout.com, said “This partnership reflects our shared vision for the future of digital commerce. Through our advanced, modular technology and a relentless focus on payment performance, we’re helping Vinted achieve operational excellence while setting new standards for the secondhand fashion industry. Together, we’re empowering individuals and shaping the digital economy of tomorrow.”

The post Checkout.com Powers Vinted’s Growth, Advancing the Second-Hand Industry Through High-Performance Payments appeared first on FF News | Fintech Finance.

2024 highlights include:

• 151 million consumer and small business accounts are enrolled to use Zelle, an increase of 16 million from 135 million in 2023.
• Zelle transactions grew 25% from 2023 to a total of 3.6 billion, exceeding $1 trillion in annual payments volume for the first time. This is a 27% increase year-over-year in total dollars sent on the platform.
• The fourth quarter was the best in the history of Zelle in terms of total money sent driven by user growth and popular use cases like paying rent and holiday gifting.

“Zelle is not just a popular way to send money, it’s a vital tool that’s transforming how money moves across America,” said Denise Leonhard, general manager of Zelle. “It is the go-to peer-to-peer payment method for millions of hardworking Americans, and this milestone is a testament to the trust they place in us every day. We remain intently focused on expanding access to Zelle because it unlocks opportunity for individuals, small businesses, community banks, and credit unions.”

Zelle is a valuable and needed tool for small businesses—the backbone of the American economy

Small business owners across the U.S. continue to rely on the unique features of Zelle to provide their customers with flexible ways to pay, to settle with a local vendor, or to reward their employees with an on-the-spot bonus that goes directly into their bank account.

In 2024, small businesses continued to be a significant driver of Zelle growth:

• Almost one in four Zelle senders sent a payment to a small business in Q4, totaling 23 million users.
• Small businesses sent or received more than 500 million transactions in 2024, a 32% increase from 2023.
• These transactions totaled $283 billion, a 32% increase from the previous year.
• From farmers markets to the local handyperson, Zelle empowers small business owners with a secure and reliable way to get paid and access their funds immediately – so they can reinvest in new supplies, pay their employees, or put food on the table for their families.

Helping community banks and credit unions compete for customers

There are more than 2,200 financial institutions on the Zelle network, 95% of which are community banks and credit unions. Many of these are rural, community, and minority-owned or -led banks in areas of the country where people have fewer banking options. Zelle is an important offering for these financial institutions, helping them to compete and retain customers by providing access to the same technology available to larger banks.

In fact, according to a survey of American consumers and small businesses that use Zelle, 74% of surveyed users said Zelle has positively affected the way they feel about their personal bank and one in three Zelle users would open a new account at a financial institution that offers Zelle if their current financial institution stopped providing it.

Helping to protect Americans from scams

In 2024, Zelle empowered over 73 million consumers with information about the risks of fraud and scams. Zelle will continue to lead the way in the fight against scams as a founding member of the Aspen Institute National Task Force for Fraud & Scam Prevention, an effort launched last year to bring together stakeholders across industry, government, and law enforcement to share intelligence and help society stay one step ahead of scammers. To help combat scams and fraud, Zelle has also partnered with organizations like the Better Business Bureau Institute for Marketplace Trust and the National Council on Aging (NCOA) on critical consumer education campaigns.

The post Zelle® Shatters Records with $1 Trillion Sent in a Single Year appeared first on FF News | Fintech Finance.

The growing losses and sophistication of fraud, combined with the need for a more seamless user experience, have made the need for more secure and efficient online identity verification more pressing.

OneID’s digital identity services address this challenge by simplifying customer verification through bank-verified data. This approach enables a document-free digital identification process that can be completed within twelve seconds. The service also prioritises privacy, requiring consent to share personal data and helps businesses streamline onboarding, increase sales, reduce operational costs, and mitigate fraud risks. The fact that approximately 90% of UK adults who use online banking can use OneID for verification also makes it the most widely accessible solution.

The UK Government’s increased focus on digital identity has highlighted the need for innovation in the sector. The Department of Science and Technology’s proposed Digital ID for age verification and the Online Safety Act of 2023 require more than 100,000 online service providers to adopt stringent identity and age assurance measures. OneID’s bank-based identity and age verification solution ensures compliance with the Act whilst maintaining user privacy.

The funding follows a period of growth and implementation of the company’s technology with a growing customer base, including NatWest and Adobe. OneID will use the funding to enhance its product offering, expand its operations into new market sectors and deliver its services to new and existing customers.

Paula Sussex, CEO of OneID, says, “At OneID, our goal is to make the world safer by making digital identity verification more efficient and accessible for businesses and users. We’ve had a tremendous year in 2024 across several use cases. With our integration with Adobe set to go live with leading high-street banks in the UK, we are proving our ability to solve urgent business problems against the toughest standard-setters. The funding from ACF Investors is a strong vote of confidence in us as a business, and we look forward to working with the team to supercharge our growth in 2025.”

Tim Mills, Managing Partner at ACF Investors, says, “The Government’s growing focus on digital identity underscores the market’s need for simple and effective identification solutions. OneID is delivering exactly that, enabling both fraud prevention and regulatory compliance for financial institutions. We are delighted to follow on from our initial investment in 2023 and look forward to supporting the team as they grow.”

The post OneID® Secures New Funding to Transform Digital Identity Verification appeared first on FF News | Fintech Finance.

Drawing on qualitative research from business psychology firm, Innovationbubble, and a multi-market survey with travelers undertaken by market research firm, Opinium – this report, jointly commissioned by Outpayce from Amadeus and Worldline, explores the current state of paying for airline services at the airport.

‘Retailing ready: towards a traveler-centric airport payment experience’ highlights several airport payments pain-points when purchasing services from airlines:

• 54% of travelers have been asked to change location and re-queue to pay for services
• 57% of travelers have been asked to pay with a less robust method, like swiping their card
• Airlines have waived ancillary service fees for more than half of travelers (56%) because they’ve been unable to accept payment
• 45% of travelers confirmed they would be more likely to buy additional airline services at the airport if they could pay with their preferred method
• Travelers rank airports third from eight options in terms of locations where it is most frustrating to encounter a payments issue, below the supermarket and restaurants, but above online retail, public transport, hotels, shopping centers, gas stations.

With two-thirds of travelers buying an ancillary service at the airport ‘at least sometimes’ and respondents spending an average of €263 on airline and airport related ancillary services per trip, payments pain points at the terminal already contribute to revenue leakage for airlines.

According to the report, airlines are rarely in complete control of payments at the terminal and must rely on legacy shared infrastructure that restricts travelers from paying in the way they choose at key service points like check-in, boarding and in-flight. However, using new approaches that integrate modern payments technology with an airline’s underlying IT systems can support a consistent and unified payments experience at multiple airports according to the report.

Jean Christophe Lacour, SVP & Global Head of Products, Outpayce said: “Through the research, travelers expressed frustration at having to walk to another desk to pay and needing to search through their bag for a payment method the airline can accept. As airlines transform to become modern retailers, we have a great opportunity to ensure passengers can pay easily using a card or a digital wallet anywhere in the terminal.”

Ifan Batey, Senior Business Psychologist, Innovationbubble added: “Our research shows that travelers find the airport payments experience to be unpredictable. In a high-stress environment like the airport, regular instances of unpredictability can reduce engagement, discourage future purchases and contribute to negative brand perceptions. For several of the frequent flyers we interviewed, being asked to change location to pay was frustrating enough for them to switch airline.”

Biljana Bosnjak, VP Travel & Hospitality at Worldline said: “Air travel can be stressful, and airlines have an opportunity to make it easier for passengers. By providing frictionless, flexible payment options at various locations in the terminal, airlines can significantly improve the travel experience. It’s vital for the industry to modernize and ensure that every traveler can pay effortlessly, no matter where they are in their journey.”

Travelers confirmed that cards remain king as the preferred way to pay for additional services at the airport, with contactless transactions being slightly more popular than Chip & Pin. However, a significant 35% of travelers prefer to pay with a digital wallet, like Apple Pay or Google Pay, underlining the rapid adoption of such methods.

How would you like to pay for additional airline services at the terminal?

• Card (Contactless) – 46%
• Card (Chip & Pin) – 44%
• Digital Wallet – 35%
• Cash – 28%
• Local payment method – 21%
• Secure link via text or QR Code – 19%

The post Outdated Airport Payments Jeopardize Airline Retailing Ambitions, Finds New Outpayce Report appeared first on FF News | Fintech Finance.

As the ABF market continues to grow, the collaboration between Cardo AI and ELF will set new industry standards, making structured credit more accessible, data-driven, and efficient.

ELF brings cutting-edge structuring and credit risk management expertise to asset-backed credit facility and forward flow purchase program investments, while Cardo AI delivers advanced technology to streamline deal execution, enhance risk monitoring, and improve transparency for all stakeholders.

“Our partnership with Cardo AI represents a major step forward in the evolution of asset-based finance,” said Geoff Beard, CEO & Chief Investment Officer at ELF. “By integrating technology-driven solutions into our investment and surveillance processes, we are accelerating transactions and enhancing overall market efficiency.”

“As we strengthen our presence in the U.S. market, we are excited to collaborate with ELF to redefine the way structured credit operates” said Altin Kadareja, Co-Founder and CEO at Cardo AI. “With our intelligent technology and the ELF team’s expertise in structuring asset-backed credit facilities and forward flow purchase programs, we are creating a more transparent, scalable, and investor-friendly ABF ecosystem.”

This partnership is just the beginning of a transformative shift—one that will empower originators, institutional investors, and the broader structured finance ecosystem to capitalize on the full potential of asset-based lending in the non-bank specialty finance sector.

The post Cardo AI & Encina Lender Finance: Transforming Asset-Based Finance for Originators and Investors appeared first on FF News | Fintech Finance.

Combining Moov’s real-time payment capabilities with Canopy’s automated servicing technology, the partnership aims to deliver greater efficiency, reliability, and transparency in loan repayment processing.

Key Benefits of Canopy Repay:

• Simplified Payment Workflows: Reduces reliance on legacy payment providers and simplifies lender integrations.
• Enhanced Transaction Reliability: Leverages streaming architecture to reduce payment failures due to dropped or timed-out transactions.
• Real-Time Insights: Provides a unified dashboard with up-to-date loan and payment statuses for improved operational visibility.

This collaboration reflects the growing importance of embedded finance in modernizing lending operations.

“Canopy Repay marks a major step forward in loan repayment operations,” said Matt Bivons, CEO of Canopy. “By integrating Moov’s payment expertise with our servicing platform, we’re equipping lenders with a seamless, scalable solution to improve borrower experiences and boost revenue.”

“Moov believes borrowers should have flexible repayment options,” says Wade Arnold, CEO of Moov. “Through our partnership with Canopy, we enable lenders to offer seamless ACH and card payments for a better borrower experience. Supporting card brands’ debt repayment programs also reduces interchange fees, benefiting both borrowers and lenders.”

Canopy Repay will be available to Canopy’s client base of commercial lenders in June.

The post Canopy Servicing and Moov Partner to Transform Loan Repayments for Lenders appeared first on FF News | Fintech Finance.

With the launch of the fund, CashU will now finance a large part of its sales increase recommendations through the opening of a base and extension of credit to SMEs. Today, 100% of the technology is proprietary and distributed through industry sales channels and large distributors interested in real-time technology for the commercial and financial areas.

For Yuri Fonseca, Co-founder, Chief AI Officer at CashU and postdoctoral researcher at Stanford University, this is yet another demonstration of the market’s confidence in the evolution of data processing and AI, both in the fintech segment and in CashU, representing another decisive step for the company towards the Series A investment round.

“CashU was the first fintech to incorporate artificial intelligence into credit to finance working capital for SMEs with the supply chain. We have proven that the accuracy of our proprietary credit granting models is 10 times higher than that of incumbents. In practice, this means that CashU can double the sales of a large industry through credit granting, with the highest approval rates in the market, while also producing sustainable credit portfolios, which has attracted the attention of some of the most sophisticated credit investors in the country”, comments Yuri Fonseca.

Arthur Bariani, member of the Investment team at Credit Saison Brazil, comments on the operation:

“Since the beginning of our operations in Brazil, we have been intensely dedicated to supporting fintechs that offer innovative and creative solutions in the country’s credit market. CashU is an excellent example of a company that uses data and artificial intelligence to facilitate and streamline inventory financing for SMEs, allowing these companies to focus on their core competencies and increase their sales. As part of Credit Saison’s global commitment to promoting financial inclusion for SMEs, we are very pleased to partner with CashU as they continue to expand a solid portfolio of clients”, he says.

CashU uses artificial intelligence to offer B2B credit to SMEs and retailers across the country, through industries and suppliers, who contract credit and offer it to their customers, directly at the checkout of each purchase. The company has developed a proprietary predictive model, being the only one on the market that analyzes each customer, offering score, term and credit limit in real time, in a highly dynamic system that is fully integrated with the payment solutions already used by the industry.

CashU’s artificial intelligence uses neural networks that analyze a series of behaviors unexplored by the market, managing to hyper-personalize each credit offer, in real time, for all its transactions.

“Since the launch of the B2B credit product, CashU has experienced double-digit growth month after month. We have attracted 2 of the 3 largest B2B marketplaces in the country as customers. The proprietary FIDC strengthens our operations and demonstrates the interest of private credit investors in credit portfolios generated with artificial intelligence”, says Thiago Saldanha, CEO and Founder of CashU.

“Our intention is to make approximately R$1 billion in credit available to small and medium-sized companies in the country by 2025. This is smart, customized credit that would not be available through traditional channels and that can certainly help SMEs grow sustainably, while also bringing greater peace of mind and growth to the industry. We at CashU continue to believe in Brazil and in the ability of Brazilian entrepreneurs to overcome difficulties and prosper, generating value for the economy and society as a whole,” he says.

Thiago Saldanha met Yuri Fonseca at Columbia University in New York, USA. The startup recently strengthened its team of partners with the addition of two important talents: Luciano Schifino, a recent reference in the fintech market and with a remarkable career at Ambev, now leads the company’s sales and marketing teams. Gregory Brown, formerly of PicPay, known for his solid performance as a tech lead and for his leadership in technology and innovation, arrives to further strengthen the technological base of the company’s business model.

For more information, visit the CashU website.

The post Appetite for AI: CashU Raises R$ 100 Million with Itaú BBA and Credit Saison for its Proprietary FIDC appeared first on FF News | Fintech Finance.

79% of respondents expressed preferences for a mix of human and AI interaction when managing their pension accounts, highlighting a strong preference for a hybrid approach. Making up that figure, 11% of all respondents said they would be comfortable with AI taking the lead. 34% preferred mostly human agents with AI acting as support while a further 34% expressed a preference for an equal mix of humans and AI working together. In contrast, only 16% preferred entirely human support and a further 5% said they were unsure.

AI gains trust, but transparency is key

The nationally representative survey of 1,000 UK adults revealed a broad acceptance of AI in pension services, provided it works alongside human agents rather than replacing them. Around eight in ten (82%) respondents expressed either a positive or neutral stance on AI-assisted pension support, while only 18% were opposed. This indicates that, for most savers, AI is seen as a useful tool to streamline customer service rather than a replacement for human expertise.

Demand for transparent AI decision-making

Transparency remains a key issue. 79% of those surveyed said it was important that AI tools used in pension support are transparent about how they make decisions, with 45% stating that full disclosure of AI-driven determinations is essential. In contrast, just 3% believed transparency was unimportant, demonstrating a strong demand for clarity and accountability in AI’s growing role within financial services.

Round-the-clock support is AI’s biggest selling point

When asked about the main advantages of AI in pension support, 34% of respondents cited 24/7 availability as the most compelling benefit, while 23% valued faster response times. Others highlighted improved accuracy (14%) and AI’s ability to handle repetitive tasks (16%) as key advantages. However, 12% saw no benefits at all, showing that while AI integration is widely accepted, scepticism remains among some pension savers.

Luis Mejia, VP of Data at PensionBee, said: “These results confirm what we’ve long suspected, that UK savers see AI as a valuable tool, but not a substitute for human expertise.

“Savers want the best of both worlds – faster service and round-the-clock availability, but with the reassurance of human oversight. The challenge for pension providers is to ensure AI-driven services remain transparent, reliable and truly enhance the customer experience.”

The post AI and Pensions: UK Savers Want Balance, Not Bots appeared first on FF News | Fintech Finance.

Further findings reveal that 81% of organisations receive payment data in real time or once a day, and 83% process, action, and report this data with the same frequency. While spreadsheets offer familiarity, the manual processing involved, especially considering the high volume to payment data that needs processing, often contributes to errors, delays, and an inability to scale.

While this reflects a sector striving for agility, 64% of organisations are still processing and reporting data at a transaction level, which introduces bottlenecks and delays. Without automation, businesses face mounting difficulties in responding to customer demands, scaling operations, and maintaining their market position.

“Legacy systems and manual processes pose a direct threat to operational efficiency. In turn, this threatens compliance and market competitiveness. Organisations relying on outdated methods are not only incurring rising costs but also risking regulatory penalties and falling behind in a fast-paced industry,” comments Nick Botha, Payment’s Lead at AutoRek.

As businesses grapple with the rapid rise in the volume of transactions, a desire to embrace digital transformation has been felt across the payments industry. Automation and artificial intelligence (AI) solutions will significantly help both enterprises and small and medium-sized businesses (SMBs) to adopt a modernised approach to processing payment data. Further findings from AutoRek’s study also reveal that the vast majority (82%) of respondents reported that automation is on their organisation’s roadmap, with 43% planning implementation within the next six to 12 months and 20% aiming to so within 18 months.

However, while the desire for transformation is clear, many require guidance and support to navigate the complexities of implementing new systems and processes. Addressing the challenges posed by legacy systems, fragmented standards, and manual processes demands a multifaceted approach rooted in modernisation, standardisation, and automation. These findings show the pressing need for organisations to modernise their approach to payment data management, embracing automation to enhance accuracy, improve compliance, and reduce costs.

“Our research shows a worrying disparity between how payments are made and how they are processed. Payment methods have become more sophisticated, yet the industry is still heavily reliant on legacy solutions to process transactions. This needn’t be the case when automation tools are now primed for mass, widescale, adoption,” adds Nick Botha.

For more information, AutoRek’s payment research report is available for download here.

The post 90% of Organisations Still Rely on Outdated Spreadsheets Despite Bottleneck Problems, New Study Finds appeared first on FF News | Fintech Finance.