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IndustryUpdate

delivery. Consumers also increasingly favor self-service ration is designed to boost digital payments across key
kiosks, digital payments and personalized experiences, sectors, including supermarkets, government services
a factor driving businesses to adopt more technology. and hotels, and foster convenience for consumers and
merchants. Inspired by China's advanced digital pay-
PXP researches payment preferences ment landscape, UnionPay said it brings expertise in
security and scalability. With Kenya's ecommerce sector
PXP, a global payment services provider, unveiled new projected to grow to 53.6 percent penetration in 2025,
research with Censuswide, analyzing payment trends this partnership is anticipated to strengthen digital
among 4,000 UK and U.S. consumers. Debit cards transformation and offer secure, efficient transactions
dominate in-person and online transactions, except for that support the country's expanding fintech ecosystem.
cruises and high-value purchases, where credit cards are
preferred. Digital wallets are rising, especially among Sheffield, Scarab team up on retail financing
younger users, while security remains the top concern.
This new white paper, titled From Cash and Cards to Sheffield Financial, a division of Truist Bank, and Scarab
APMs, provides strategic insights for businesses and are working together to provide streamlined, competi-
coincides with PXP's launch of PXP Unity, a next-gen tive financing for high-performance jet boats across the
commerce platform enhancing real-time payments and United States. This collaboration leverages Sheffield's 32
global integration, the company said. years of expertise in consumer financing and Scarab's
nationwide dealer network to simplify the boat-buying
Customer data unlocks untapped process, the partners stated, adding that with Sheffield's
lending opportunities pre-qualification technology, customers can check eligi-
bility without affecting their credit score. Both compa-
Rapid Finance released The Missed Opportunity in Modern nies said they aim to enhance accessibility to boat own-
Commercial Lending, a white paper highlighting how ership through fast, flexible financing, benefiting Scarab
underutilized customer data leads to inefficiencies, lost dealers and customers with a seamless, mobile-friendly
revenue and increased risk for lenders. The report advo- loan experience.
cates for a proactive, data-driven strategy to enhance
lending portfolios and meet evolving customer expec- Skipify, Retail Realm tackle ID-powered payments
tations. It outlines key steps, including breaking down
data silos, investing in AI and fostering a data-driven Skipify partnered with Retail Realm to integrate its
culture. Rapid Finance CEO Will Tumulty emphasized Commerce Identity Cloud technology into Microsoft
the importance of leveraging data for growth and effi- Dynamics 365 merchants' payment systems. This enables
ciency, offering a blueprint for financial institutions to 50,000 global merchants to offer seamless, one-click
optimize lending strategies and strengthen customer Paylinks via SMS or email, reducing friction and security
relationships. risks, Skipify stated, adding that its system auto-identi-
fies shoppers, surfacing their payment options instantly.
PARTNERSHIPS The integration, the partners noted, improves conver-
sion rates, authorization rates and customer loyalty.
Rachel Smith, Retail Realm's vice president, highlighted
CAKE POS, Popmenu to aid restaurants the added convenience and security, while Skipify CEO
Ryth Martin emphasizes the future of identity-powered
CAKE POS, Sysco's POS partner and a Mad Mobile checkout for reducing inefficiencies and enhancing the
product, partnered with Popmenu to enhance restaurant customer experience.
technology. Phase I, launched this winter, gives CAKE
customers access to Popmenu's interactive menus, Tink, Adyen, Recharge collaborate on pay by bank
Google-optimized websites, and automated market-
ing tools to boost engagement and traffic, the partners Tink, Adyen and Recharge have agreed to work together
stated. Phase II, to debut later in 2025, will introduce to introduce Pay by Bank in Germany, enabling direct
integrated online ordering with payments for seam- bank-to-bank payments for Guthaben.de customers. The
less digital sales. With nationwide installation via Best partners believe this open banking-powered method
Buy, CAKE and Popmenu aim to simplify operations, enhances security, speed and convenience for customers.
enhance guest experiences, and help restaurants grow Recharge CEO Günther Vogelpoel emphasized payment
through AI-driven digital solutions and trusted POS choice, while Tink and Adyen highlighted growing mer-
technology. chant adoption. With over 10,000 merchants using Pay
by Bank via Tink's PSP partnerships, the collaboration
KCB Bank, UnionPay to support reflects increasing demand for seamless digital pay-
ecommerce payments ments, the partners noted, adding that this represents a
step toward broader innovation in financial technology.
KCB Bank Kenya and UnionPay International partnered
to enhance ecommerce payments and enable UnionPay
cardholders to transact seamlessly online. This collabo-

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