News of this week from Monoup: why we love payment industry

In today’s love Friday, February 14, we couldn't miss the change to present a different piece of content. So, fintech news of this week will not only update you on the industry's main developments but also remind why we love this industry so much.

Payment industry is a whirlwind of constant development, innovation, and ideas that shatter what we used to believe in. New payment methods, collaborations, and integrations are not just happening somewhere; they are right here, changing the payment experience for every one of us. They are becoming an integral part of our daily lives, where everything is connected to payments. We are together with our payments — how we pay, what we pay for, and how often can say a lot about us. This is why Monoup strongly advocates for an analytical approach to payment flows and their study.

And every Friday on Mono Talks we release digests of main news and brief analysis of fintech events.

So, why do we love payment industry?

For its openminded approach: Klarna integrates cryptocurrency

The buy now, pay later (BNPL) solution provider Klarna announced that it is exploring diversification of its offerings by adding cryptocurrency payment methods. For a traditional payment system, this is a real step into unknown, carrying a number of significant risks. Cryptocurrency itself often faces AML obstacles, but it is still considered a promising investment stream.

Plans for an IPO have prompted the company to rethink its functionality and attract new investors through this. Those interested in cryptocurrency sector may consider Klarna as an option for their future investments, allowing company to diversify its cash flows. There are rumors that Klarna is focusing on stablecoins and Bitcoin to start its cryptocurrency activities, but these have not been confirmed yet.

For its adaptability: Paysafe may change owners

UK-based payment system Paysafe is a global payment provider for various merchant categories, including high-risk industries. The company is owned by investment structures that successfully took it public in 2020 and expanded its business.

Currently, there is information circulating in the industry that Paysafe's owners are considering sale of payment system and are exploring options with financial advisors. Following this news, payment system's shares have risen, although didn’t surpass their initial record. Company is currently valued at approximately $1.4 billion, and it processes $130 billion in payments annually.

Paysafe owns several well-known payment solutions, such as the Skrill and Neteller wallets, Paysafecard payment method, and Latin American Safety Pay. It also provides card acquiring and Pay by Bank method. The exact number of merchants is unknown, but most iGaming brands and many e-commerce projects work with this PSP. Potential new owners would acquire a valuable asset. Whether the deal will happen and how it will unfold remain to be seen, and we will keep you updated on developments.

For its confidence in the future: PayRetailers authorized in Chile

Due to changes in Chilean regulations, payment providers had to obtain new authorization, which PayRetailers was among the first to secure. The company is one of the largest payment structures in the region and processes a significant portion of payments, including those for bookmakers and casino operators. Payment system operates in Brazil, Chile, Peru, Argentina, Colombia, Ecuador, Guatemala, Costa Rica, Panama, Mexico, and several African countries.

Thanks to its quick response to Chile's changed payment regulations, PayRetailers will be able to provide services without interruption and offer the same international acquiring service to its merchants as before. In an official press release on this topic, company representatives emphasized their serious attitude toward the legal and their operation solely within the legal framework.

For its advanced technologies: Sberbank to collaborate with DeepSeek

One of Russia's largest banks, Sberbank, is reportedly set to build connections with the Chinese AI company DeepSeek at the behest of authorities. DeepSeek has provided an interesting technology that is already actively competing with Google's Gemini and OpenAI's ChatGPT. The latter have even stated that the Chinese trained their AI based on their developments and are simply using ready-made ideas. Such accusations are not new for China and often appear in one industry or another. Nevertheless, this does not prevent the country from actively developing and doing so with minimal costs.

As bank representatives assure this kind collaboration is familiar for them, as they have scientists and AI developers on staff. Combining technologies will help achieve desired results faster and, of course, strengthen already close relationship between the two countries. Specific projects that will be developed within this joint work are not yet known, as the developments of this kind are classified. Well, time will tell.

That's the news of this week! Monoup keeps you updated on fintech and payment events, subscribe to our Telegram channel and follow new expert article releases to know more. Stay connected!