Global online sports bettors prioritize rapid payouts and payment choices when starting their customer experience with sportsbooks, according to the 2024 All the ways players pay research from Paysafe, a leading payments platform. Released today, the report also reveals that payments are just as valuable in strengthening the customer experience for players, whose appetite for digital wallets and even crypto payments is rising.

Showcasing Paysafe’s all-new brand identity, which the company recently unveiled, the report surveyed 3,000 sports bettors in six U.S. states (Massachusetts, Michigan, New Jersey, New York, Ohio, Pennsylvania), the Canadian province of Ontario, the U.K., France, Germany, and Italy, in December 2023. The research found that streamlined payouts were players’ top factor when choosing a sportsbook (prioritized by 37%). They consider this more important than brand trust (34%), odds (29%), promotions (26%), user experience (17%), sports markets (15%), and sponsorships (10%).

When selecting a sportsbook, players also prioritize their favorite payment methods’ availability (26%) and seamless deposits (26%) over every factor except brand trust, odds, and promotions.

Payments are just as crucial for strengthening player retention, with 78% of bettors considering the payment experience important in why they remain with a brand. This trend is even higher in Italy (88%), New York (84%), and Germany (80%).

Bettors’ payment preferences continue to diversify. Debit cards remain the dominant choice globally (a preference of 38%), though this is being challenged by digital wallets (37%). Wallets are today the top payment preference in Italy (53%) and Germany (52%). By facilitating wagering across multiple sportsbooks, digital wallets are a leading payment choice of VIP players, with 46% of bettors wagering 5-7 times weekly favoring a digital wallet versus 43% a debit card.

Credit cards’ overall popularity is limited by markets like the U.K. and the U.S. state of Massachusetts banning their use. Despite this, the preference for credit cards remains robust both globally (25%) and across the U.S. (also 25%), while in France they are the favorite payment method of all (47%).

Interest in eCash remains niche but significant, with 13% preferring online cash. This trend is higher in countries with an enduring cash culture like Germany (16%) and the U.S. (16%).

Local payment methods (LPMs) available only in a single country are a preference of 13%, trending higher in the U.S. (17%) and Canada’s Ontario (17%), with their established LPM brands.

Confidence in the transactional security at sportsbooks continues to improve, with 57% of players more confident than last year. However, there is no room for complacency, with 10% less confident and 33% unsure.

Player adoption of digital wallets, eCash, and other alternative payment methods (APMs) will likely grow, with 58% of players expecting to use APMs more through the end of 2025. And despite cryptocurrency market volatility, crypto payments appear attractive for players, with 50% interested in this when permitted by regulators. This trend is higher in the U.S. (58%), especially in New York (72%).

Zak Cutler, President of Global Gaming at Paysafe, commented: “Our latest research indicates the value of payments to online sportsbook operators at all stages of the player experience. Operators that optimize their payment offerings will gain a competitive advantage when starting their brand’s relationship with new bettors. Given the correlation between the payment experience and brand loyalty, operators can maximize player retention by getting payments right. This includes upgrading their cashiers to cover all possible payment choices to meet evolving transactional expectations.”

Wirex, a leading Web3 money app, has announced a strategic collaboration with Gateway.fm, a global multi-chain architecture decentralized blockchain infrastructure node provider. This partnership is set to revolutionize the scalability and efficiency of Wirex's recently launched WPay Decentralised Payment Network. By teaming up with Gateway.fm and utilizing their PaaS, Presto, Wirex wants to scale its Zero-Knowledge (ZK) powered WPay platform.

With Presto, Wirex aims to enhance the network's transaction throughput, reduce strain on the Ethereum mainnet, and provide users with a smoother experience as they navigate between traditional finance and Web3. It's a practical step towards making decentralized payments more seamless and efficient for everyone involved.

Key highlights of the partnership:

• WPay's Value Propositions: This partnership reinforces WPay's key value propositions, including self-custody, digital asset flexibility, uncompromised security, and instant spending. WPay empowers users by providing full control over their assets, easy management of digital assets, the highest security standards, and the ability to use cryptocurrency for everyday transactions.
• Private zkEVM Rollup: Gateway.fm will provide Wirex with a private zkEVM (Zero-Knowledge Ethereum Virtual Machine) rollup solution. This technology enhances scalability, cost efficiency, and off-chain transaction processing, ensuring uninterrupted services.
• L2 Integration: The integration of L2 (Layer 2) technology facilitated by Gateway.fm's Presto, powered by Polygon CDK, marks a significant step forward in improving Wirex's card services.

Wirex's CEO & Co-founder Pavel Matveev expressed his excitement about the partnership, stating, "We are thrilled to partner with Gateway.fm to enhance the scalability and efficiency of our WPay platform. It underscores our dedication to delivering cutting-edge, user-centric solutions. With Presto's capabilities, we are confident that WPay will continue to redefine the way people use digital assets in their everyday lives."

The implementation of Gateway.fm's Presto is expected to bring about substantial improvements in the performance and user experience of WPay. It will enable faster transaction processing, reduced costs, and increased network capacity, all while maintaining the highest standards of security.

Igor Mandrigin, Co-Founder and CTO of Gateway.fm, said: "This partnership gives expression to the power of private zkEVM roll-ups in terms of driving security, scalability, and cost efficiencies for important real-world use cases. By leveraging our Platform-as-a-Service Presto, Wirex's growing user base can now access streamlined blockchain-enhanced financial services, and we look forward to broadening the scope of this partnership in the months ahead."

Cuautemoc Weber, Co-Founder and CEO of Gateway.fm said: "We're thrilled to partner with Wirex and expand the benefits of our Presto solution to over six million users across the world. The synergies between Gateway.fm and Wirex are clear – much like how we're abstracting the complexity of blockchain infrastructure, Wirex is simplifying the process of buying, selling and spending digital assets. The compound effect of these missions will be huge for facilitating mainstream Web3 adoption."

Wirex and Gateway.fm are excited to embark on this journey together, and they anticipate that this partnership will further strengthen Wirex's position as a leader in the cryptocurrency space.

Banco Santander has today announced the appointment of Petri Nikkilä as the new global CEO of Openbank and head of the Digital Consumer Bank's non-auto consumer business.

Mr. Nikkilä succeeds Ezequiel Szafir, who was Openbank’s CEO until last year, and will report to Daniel Barriuso, head of Retail & Commercial Banking, and José Luis de Mora, head of Digital Consumer Bank. Among his main priorities will be to lead the Openbank business in its current markets and continue to promote its international expansion. He will also manage Digital Consumer Bank’s non-auto-consumer business and the buy-now, pay-later business (including Zinia).

Petri Nikkilä has extensive experience in the European financial sector, both in continental Europe and in the UK, especially in digital banking. Until now, he was working in ING’s global retail digital transformation and earlier as head of Retail Banking for the Netherlands, Belgium, and Luxembourg, which has more than 10 million customers. Before that, he developed his career at Nordea, where he was responsible for digital transformation, as well as at HSBC. In addition, he has experience in the consumer sector, spending six years at Unilever where he led the business in Africa, the Middle East, and Turkey. A Finnish national, Mr. Nikkilä has always worked in an international environment. He holds master's degrees in Economics and Business Administration from the University of Vaasa (Finland) and from the Erasmus University of Rotterdam.

"Petri is an excellent addition to our team and brings a deep knowledge of financial services and a broad strategic vision in the consumer sector. In the past seven years Openbank has expanded to become the largest digital-native bank by deposits in Europe and its technology is central to the group’s transformation. The Digital Consumer Bank is also a vital part of our strategy, allowing us to build stronger customer relationships and deliver consistent, profitable growth. We are delighted to welcome Petri to the group and we wish him every success."

Ana Botín, executive chair of Banco Santander

Petri Nikkilä’s appointment will take effect in May and is subject to the appropriate regulatory approvals. Once he joins the group, he will become a member of the boards of Openbank and Santander Consumer Finance. 

In recent years, Openbank has positioned itself as one of the best digital banks in Europe, having doubled its customer base since its relaunch in 2017 to more than two million and becoming one of the best-rated banks by its customers in Spain.

Santander’s Digital Consumer Bank is one of our growth initiatives created by combining two successful businesses: Santander Consumer Finance (SCF) and Openbank. SCF is Europe’s consumer finance leader.

PayTabs Group, MENA’s award-winning payment orchestration powerhouse today announced it had partnered with Nearpay, Saudi Arabia’s leading Payment Infrastructure as a Service fintech brand to offer users across Jordan and other PayTabs markets in the region, an elevated soft POS payment experience.

The collaboration aims to enhance the user experience of merchants and customers that use PayTabs Touch – PayTabs proprietary soft pos application across the region, including the MEPS FAST application in Jordan. As part of its payment orchestration platform, PayTabs soft POS technology is a modern leap in payment systems, seamlessly turning smartphones and tablets into swift payment terminals. This innovative solution streamlines transactions by ditching bulky hardware, empowering businesses of all scales to effortlessly process card payments.

With a user-friendly interface and robust encryption, it not only simplifies checkouts but also amplifies customer satisfaction. PayTabs soft POS technology enables merchants to conduct transactions anywhere, from bustling city squares to remote locations. This enhancement is set to redefine the landscape of mobile payment acceptance, offering friendly and efficient solutions for small and micro businesses. Businesses who sell out of a food cart, vendors running pop-up shops, or restaurants that offer table-side bill payments are a key demographic for tap-to-phone payment acceptance. PayTabs Soft POS, known for its secure features and reliability, will now be powered by Nearpay’s state-of-the-art POS infrastructure. This advancement aligns with the growing trend toward contactless payments, providing a secure and convenient option for both merchants and customers. The focal point of this partnership is the integration of Nearpay’s innovative ‘Tap to Phone’ technology into the PayTabs Touch app.

Commenting on the partnership with Nearpay, Eyad Musharbash, PayTabs Regional Head and Operating Partner for the LEVANT region said, “Two Saudi fintech brands are joining hands to power contactless payments the region. We are excited to collaborate with Nearpay to introduce this elevated Soft POS experience to our users. The integration of ‘Tap to Phone’ technology into PayTabs Touch will not only streamline payment processes for businesses but also offer millions of customers a modern and secure payment option.”

Mohammad Aleban, Nearpay CEO and co-founder added: “We’re excited about our partnership with PayTabs. Integrating Nearpay’s ‘Tap to Phone’ technology into PayTabs Touch is a game changer, streamlining payments for businesses and offering users a modern, secure option. This collaboration sets new standards for contactless payments, reflecting Nearpay’s commitment to transforming the payments landscape.”

SoftPOS enables smartphones or tablets with NFC capabilities to function as contactless payment terminals. Merchants transform their smartphones into secure and efficient point-of-sale terminals, enabling them to accept payments with just a tap. Individuals and businesses can accept payments from contactless cards and digital wallets on their devices while capturing necessary transaction authentication details. According to an exclusive report by The Insight Partners; due to the uptake of NFC enabled wearable technology and the increasing demand for contactless payments, the MENA NFC chip market is expected to reach USD1,191.20 million by 2028, a compound growth of 7.3% from 2021.

A new study from Juniper Research, the foremost expert in payments markets, has found the value of B2B payments will grow 40% by 2028, from $89 trillion in 2024, due to digital payment adoption in developing markets.

Instant payments will revolutionize B2B payments by enabling cheaper and more secure cross-border trade, with instant payments reaching 42% of all cross-border payments by 2028, at $16 trillion; up from just 17% in 2024, at $5 trillion.

Find out more about the new report: Global B2B Payments Market 2024-2028, or download a free sample.

Instant Payment Innovation Cutting Costs for Businesses

The research anticipates the adoption of ISO 20022, a universal standard for instant payments’ financial messaging, will drive third-party providers to build additional value-added services that create efficiencies for businesses. The extra remittance data that modern systems support can enable use cases such as automated accounting; drawing businesses to modern payment rails.

Report author Michael Greenwood stated: “The key advantage of the messaging language used in ISO 20022 is that messages are easier for machines to read. This makes it simpler to develop AI-based solutions around these payments; driving innovation.”

Digital Wallets Critical to Serving Small Businesses in Emerging Markets

The research found in many emerging markets, there were gaps in the access to banking for smaller businesses. This was restricting digital access and innovation. To better serve smaller businesses, B2B payment providers must focus on offering B2B payment capabilities via popular local digital wallets and mobile money services. This approach can then provide improved access to low‑cost digital payments, and can help B2B providers to create value-added services offering access to credit; a key pain point for small businesses.

Geidea, recognized as one of the 25 top Fintech companies by Forbes Middle East, renowned for its innovative solutions and substantial market impact proudly announces its strategic partnership with Fils, a revolutionary force in simplified climate action, empowering businesses of all sizes to embed climate positivity into transactions using their API. Geidea's collaboration with Fils not only underlines its commitment to reshaping the digital payments landscape but also signifies a pioneering step towards a sustainable future, aligning seamlessly with Fils' mission to transform industries, including banking, travel, eCommerce, and fintech, towards environmental consciousness and carbon neutrality. This exclusive partnership is set to make a lasting impact on the UAE's digital payments sector and beyond.

Fresh from being the official payment and POS provider for the United Nations Climate Change Conference (COP 28), Geidea demonstrates its unwavering commitment to sustainability through this groundbreaking collaboration with Fils. In this innovative partnership, Geidea and Fils are set to embed sustainability into every aspect of their activities. Merchants will now have the capability to empower customers by providing estimates of carbon emissions for specific transactions using Geidea’s payment gateways. Whether it's flights, rides, products, or shipping, customers can gain valuable insights into the carbon intensity of their actions. This not only fosters a culture of sustainability but also enables informed decision-making.

After being given an estimate of their carbon footprint, the collaboration with Fils allows customers to seamlessly contribute to trusted carbon credit projects directly from any product interface. This streamlined process empowers users to actively support a greener future and reduce their carbon footprint effortlessly with every transaction. 

Commenting on this transformative partnership, Sailesh Malhotra, General Manager - GCC stated, "At Geidea, we are thrilled to continue leveraging our technology to contribute to impactful and tangible solutions. This partnership with Fils aligns with our mission to go beyond conventional payment services, introducing a new era where sustainability is integrated into the very fabric of digital transactions."

Nameer Khan, founder and CEO of Fils, stated, “Our collaboration with Geidea is a significant step in Fils’ journey towards leading sustainable innovation in the global fintech landscape. Starting from UAE this partnership will extend regionally, reinforcing our commitment to ESG values across key regions. Working with Geidea is not just about fulfilling our environmental mission; it’s a testament to Fils’ visionary technology and dedication to making every transaction a positive force for our planet. Together, we are setting new standards in sustainable finance, demonstrating that progress and environmental stewardship can go hand in hand.”

Airwallex, a leading global payments and financial platform for modern businesses, today announced a multi-year partnership with the McLaren Formula 1 team, one of the sport’s most iconic brands. As an Official Partner, Airwallex will support McLaren’s global financial operations through its treasury management and cross-border pay-outs and settlement product suite. This partnership between Airwallex and McLaren will help ignite the fintech giant’s growth trajectory as it continues to scale globally.

Specifically, McLaren will use Airwallex to optimise its supply chain payments for all Grands Prix. McLaren’s existing payments infrastructure limits payment to suppliers, such as hotel and event space providers, to a singular currency account based in the UK, resulting in high foreign exchange (FX) charges, slow transfer time and additional SWIFT fees. 

Airwallex’s financial technology will unlock multi-currency payment options for McLaren, providing the company the ability to hold core currencies and exchange them with speed and ease at any point while reducing the amount of SWIFT fees that may be payable by leveraging Airwallex's extensive global proprietary payment rail network.

As part of this partnership, Airwallex will also provide technology to support the launch and ongoing operation of McLaren’s digital partner merchandise platform - further enhancing their multi-currency collection capabilities and allowing them to offer a broad range of global and local payment options.

Zak Brown, CEO, McLaren Racing, said “In the competitive world of Formula 1, efficiency and performance are crucial both on and off the track. We are delighted to have Airwallex on board and use their innovative and trusted payment solutions to support our team’s financial operations.”

Jack Zhang, CEO and Co-Founder of Airwallex, said “There are very few brands that match McLaren’s heritage and global appeal. Like McLaren, Airwallex is constantly innovating to move faster and with greater precision – with a product that unites people around the world. Our partnership will play a key role in supporting our global expansion, and we look forward to working with the McLaren team in 2024 and beyond to support our mutual growth.”

Alongside the product integration, Airwallex will become a partner of the McLaren Formula 1 team, with the Airwallex logo prominently displayed on the halo of the McLaren MCL38, on driver Lando Norris’ and Oscar Piastri’s overalls including the pit crew, as well as across other McLaren official branded material. 

A truly global sporting event with races held in 24 cities, Formula 1’s multi-market reach and impact are unrivalled. It has a global viewership of 1.5 billion annually1. Airwallex’s partnership with the McLaren Formula 1 team, a prominent and much-loved brand, aligns with its global ambitions to be the financial platform of choice for innovative businesses across the world. 

Today, Mastercard and Last Mile Solutions announced a new partnership to establish new payment standards for the Electric Vehicle (EV) charging industry, that will enhance the user payment experience at charging stations.

The new solution will enable CPOs to integrate their (existing) charging stations with a variety of payment terminal brands seamlessly, without the need for extensive integration efforts. The new payment gateway solution will unify the user experience and simplify payment terminal integration, onboarding and transaction processing.  

Through this collaboration, Mastercard and Last Mile Solutions are committed to fostering the uptake of electric vehicles throughout Europe by eliminating existing barriers and simplifying the charging process for drivers with interoperable and universal payment solutions.

The solution will be rolled out across Europe starting in early 2024 to enable CPOs to comply with the EU AFIR regulation that will come into force in April 2024.

“We are thrilled to be partnering with Last Mile Solutions. The transition to the mass adoption of electric mobility is key to building a more sustainable world. Achieving this requires partnerships like these to make the transition as seamless as possible, not only for consumers but also for infrastructure operators.” says George Simon, Executive Vice President, Market Development Europe, Mastercard.

“In the dynamic world of payment systems and EV charging, this strategic partnership between Mastercard and Last Mile Solutions will accelerate a seamless EV adoption. Our leadership in the market is anchored by providing an effortless payment terminal solution for charging stations for retrofit and newly built charging stations. This collaboration is designed to support Charge Point Operators to seamlessly facilitate integration and comply with AFIR. Our solution will allow operators to focus on their core business.” says Eric van Voorden, Chief Executive Officer, Last Mile Solutions.

Lendbuzz Inc, the AI-based fintech company that is disrupting the automotive lending industry, announced today that it has closed a $219 million securitization collateralized by a pool of auto loans made to obligors and secured by new and used automobiles, light duty trucks, and vans. This transaction is Lendbuzz’s first securitization of 2024, and the sixth since launching the program.

Lendbuzz Securitization Trust 2024-1 (“LBZZ 2024-1”) issued four classes of notes: Class A-1, Class A-2, Class B, and Class C. The LBZZ 2024-1 notes have been rated by S&P Global Ratings (S&P) and Kroll Bond Rating Agency (KBRA) as NR/K1+, AA-/AAA, A-/AA+ and NR/A-, respectively.

Goldman Sachs & Co. LLC acted as lead book-runner and structuring agent, with J.P. Morgan Securities LLC and RBC Capital Markets, LLC as joint book-runners; Regions Securities LLC acted as co-manager.

“This was an incredibly successful transaction for Lendbuzz with a first-time AAA rating, which is a testament to the Company’s focus on strong credit performance,” said George Sclavos, Chief Financial Officer at Lendbuzz. “We look forward to continuing to expand our asset-backed lender investor base, having added 12 first-time investors to the platform on this deal.”

Lendbuzz remains committed to growing its asset-backed securitization program and expanding its asset-backed lender investor base, helping to provide additional liquidity for asset-backed lender investors and maintaining a diverse financing strategy for Lendbuzz. The additional capacity will allow Lendbuzz to continue on its mission to offer fair access to credit for underserved populations.

Benepass, a flexible benefits platform for people-first companies, announced today that the company has raised $20 million in additional funding led by Portage and Clocktower Technology Ventures. Stephanie Choo, Partner at Portage has joined the Benepass Board of Directors. Workday Ventures and existing investors Threshold Ventures and Gradient Ventures also participated in the funding round.

The fundraise comes at a time when many large companies are looking to consolidate their benefits to control costs. Companies have accumulated diverse and costly point solution benefit vendors over the years, often underutilized by employees. This is no longer tenable in today's macroeconomic climate, so companies are analyzing and streamlining these offerings, aiming to cut down on vendors while maintaining employee satisfaction and engagement. This has fueled interest and excitement about flexible benefits platforms like Benepass.

"Portage invests in entrepreneurs who are reshaping financial services. We expect to see more consolidation of point solutions in the benefits space and believe that Benepass is at the forefront of this growing trend," said Stephanie Choo, Partner at Portage. "Our investment into Benepass will help to scale their mission to help companies distribute meaningful benefits that support the personal and professional well-being of their team."

The additional capital will be used to fuel growth by expanding distribution and technical partnerships with brokers, payroll, and HRIS providers. It will also fuel the building of new features for administrators and employees, including cash back on benefits and enhancing the user experience of the platform to help employees better understand and use their benefits. Benepass will also use the funds to leverage generative AI to produce insights into employee benefits behavior that will help enterprise customers better support their employees, understand benefits usage, and optimize benefit costs.

"Benepass is helping shift the approach around how companies take care of their employees, and we're excited to partner with them on their next stage of growth," said Barbry McGann, SVP and Managing Director, Workday Ventures. "We invest in companies that are shaping the next generation of enterprise technology and believe that is reflected in Benepass's mission to unlock personalization and global equity in benefits through its proprietary fintech stack and commitment to the user experience."