Voice of the Industry

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

Tuesday 7 May 2024 09:40 CET | Editor: Claudia Pincovski | Voice of the industry

Building onto our previous reporting related to the partnerships that took place in Q1 2024 within the banking and fintech space, this analysis focuses on the payments and commerce industry.

The payments industry is experiencing growth driven by an influx of technological advancements and a notable shift in consumer behaviour. With the size of the global digital payments market reaching USD 89 billion in 2022 and projected to reach USD 200 billion by the end of 2030, the landscape is undeniably dynamic and ever-evolving. In this rapidly changing environment, collaboration has become more than just a strategic choice—it's a necessity. Partnerships between companies have emerged as crucial drivers of innovation, fueling the development of new payment solutions and services.

As the adoption of digital payments continues to surge worldwide, with 4.8 billion consumers expected to use mobile wallets for payments by 2025, businesses are increasingly recognising the value of working together to meet the evolving needs of customers. From fintech startups to established financial institutions, organisations are pooling their resources and expertise to create innovative payment experiences that are seamless, secure, and tailored to the preferences of modern consumers.

In fact, collaborative efforts are yielding significant results, with executives stating that partnerships are essential for driving innovation in the payments industry. By leveraging each other's strengths and capabilities, companies can accelerate the pace of innovation, bring innovative payment solutions to market faster, and stay ahead of the competition in an increasingly crowded marketplace.

In this article, we will explore the pivotal role of partnerships in driving innovation across various sectors of the payments industry. From enhancing payment acceptance capabilities to revolutionising travel payment solutions and advancing digital and cross-border payments, these partnerships are reshaping the future of finance. Join us as we delve into the world of collaborative innovation and uncover the transformative impact of partnerships on the payments landscape.

Expanding payment methods

The evolving landscape of global payments continues to prompt businesses to embrace diverse and flexible payment methods, enhancing accessibility and convenience for consumers worldwide. Partnerships have been crucial in driving these developments, each focusing on innovative solutions that cater to the varying needs of different markets.

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

In Asia, Ant International has teamed up with Capital A Berhad to enhance payment orchestration services across the latter's platforms. This partnership focuses on integrating local payment methods, including Alipay+ e-wallets into AirAsia MOVE, improving the payment flows and exploring advanced wallet technologies. The collaboration also extends to digital marketing and sponsorship opportunities, aiming to drive business growth while creating a sustainable and inclusive impact.

Globally, Adyen's partnership with Adobe Commerce exemplifies the integration of online and offline payments through a unified commerce solution. This initiative allows enterprise merchants using Adobe Commerce to benefit from Adyen's services including checkout, fraud protection, conversion optimisation, and robust data analytics. Such integrations are pivotal in providing a seamless customer experience, crucial for boosting consumer confidence and loyalty.

In Europe, Elavon's collaboration with Softpay introduces the SoftPOS solution, enabling merchants to transform their mobile devices into payment terminals. This approach reduces the need for physical hardware and allows businesses to accept payments flexibly across the continent. Similarly, Mastercard and ING have launched Click to Pay in Spain, a system designed to streamline online checkout processes. By simplifying the registration and payment procedure, Click to Pay aims to enhance conversion rates while adhering to global EMVCo standards, thereby boosting consumer confidence.

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

Stripe's expansion into Australia and Canada through its partnership with Amazon leverages its Stripe Connect technology to support the ecommerce's Just Walk Out technology. This collaboration not only simplifies the payment process but also ensures that payments are routed from shoppers to businesses, improving the overall transaction flow.

In Brazil, Banco do Brasil and Giesecke+Devrient are pioneering the use of offline digital money payments. This initiative targets regions with limited internet connectivity or electrical infrastructure, aiming to extend financial services to underserved populations and provide a viable alternative to traditional cash transactions. The partnership assesses the feasibility of this technology in alignment with Brazil's future digital currency platform, DREX.

Lastly, in the Nordic region, Payer's partnership with American Express facilitates the acceptance of Amex cards across Denmark, Finland, Norway, and Sweden. This enables businesses using Payer as a B2B digital payment platform to offer more flexible payment options, thereby enhancing the purchasing experiences for cardholders in these countries. Additionally, Jabil’s collaboration with Revolut to develop the Revolut Reader, a custom mobile POS solution, showcases how partnerships can foster technological advancement and scalability in payment solutions.

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

Furthermore, Lyra partners with India's NIPL for UPI payments to introduce the UPI payment mechanism in France, allowing Indian tourists to book their visit to the Eiffel Tower by purchasing tickets online, making the transaction process quick and easy. This partnership aims to promote NPCI's payment acceptance in international markets and create an interoperable global payment system.

In the digital payments sphere, Google Pay partners with NPCI to expand UPI globally with the aim of extending the influence of UPI to markets beyond India. It seeks to broaden the use of UPI payments for travellers outside of India, enabling them to conveniently make transactions abroad and establishing UPI-like digital payment systems in other countries, providing a model for seamless financial transactions.

Navigating the next wave of travel payments

The integration of new payment technologies extends into the travel sector, where the convergence of diverse payment solutions and travel services is enhancing consumer experiences. One notable trend is the collaboration aimed at enriching the travel experience through tailored offers and promotions. Mastercard's partnership with Singapore Airlines stands out as a prime example. By integrating Mastercard’s Priceless platform with Singapore Airlines’ KrisFlyer program, members gain access to a broader range of experiences and special offers across dining, entertainment, and more, enhancing the travel experience significantly in Southeast Asia. This initiative not only increases customer loyalty but also adds value beyond mere transactional benefits.

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

Similarly, Resorts World Sentosa's expansion of its partnership with Alipay+ before Singapore's peak travel season is another example. This collaboration enables RWS to accept payments from 12 international e-wallets, catering to a diverse international clientele and enhancing convenience during their stay.

As the demand for easier and more secure payment methods grows, several companies are stepping up to meet these needs. Canary Technologies, for instance, partnered with Adyen to process hotel payments with an added layer of security through 3D Secure (3DS) technology. This system not only secures online transactions but also builds trust among consumers.

In Europe, Iberia Airlines now accepts UnionPay cards, facilitating secure and convenient payments for Asian tourists. This move not only broadens payment options but also enhances user experience by accommodating preferred payment methods for a significant traveller demographic.

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

The need for flexibility in payments is another significant trend, with several partnerships focusing on integrating more varied and flexible payment options. CellPoint Digital and La Compagnie’s collaboration allows the French airline to optimise payment processes and introduce diverse payment methods like Open Banking and PayPal. This flexibility is crucial for adapting to the evolving consumer payment preferences and expanding market reach.

Mastercard’s collaboration in Hong Kong with Octopus to simplify top-ups for Mobile Octopus via iPhones and Apple Watches for tourists is another initiative making local travel more seamless and integrated, promoting a cashless and convenient experience.

In the B2B sector, companies are leveraging partnerships to streamline operations and enhance efficiency. Sabre’s collaboration with Revolut, for example, aims to revolutionise B2B payments for travel agencies by integrating virtual cards into the Sabre Virtual Payments platform. This integration facilitates more secure and flexible payments to airlines and hotels, enhancing operational efficiency across the board.

Similarly, FinMont’s partnership with ConnexPay aims to unify the payment process for travel merchants by offering real-time virtual card issuance, which simplifies the B2B payment landscape significantly.

Therefore, the partnerships forming across the globe in the travel payments sector are not just enhancing payment processes but are fundamentally improving the travel experience. From increasing security and flexibility in payment options to integrating promotional offers that enhance the value received by travellers, these collaborations are a testament to the dynamic evolution of the travel industry.

A comprehensive look at recent cross-border payment partnerships

In an era of rapid globalisation and technological advancement, the dynamics of financial transactions are evolving at an unprecedented pace. Cross-border payments, in particular, have witnessed a surge in innovation and collaboration as financial institutions and technology companies seek to bridge the gap between countries and streamline international transactions. Recent partnerships between key players in the financial ecosystem have been instrumental in reshaping the landscape of cross-border payments, fostering greater connectivity, and driving economic growth across regions.

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

One of the notable collaborations in this domain is the partnership between Mashreq, NPCI International Payments, and PhonePe. Aimed at enhancing financial connectivity between the UAE and India, this alliance seeks to provide Indian tourists visiting the UAE with secure and efficient payment solutions across various merchant locations and businesses. By leveraging the expertise of NPCI International Payments and the widespread reach of PhonePe, the partnership accelerates the development and optimisation of financial connectivity between the two regions, facilitating seamless payment experiences for travellers.

In Asia, the collaboration between Leatherback and YES BANK signifies a concerted effort to simplify remittance processes and enable INR payouts in India. By leveraging YES BANK's infrastructure and Leatherback's expertise in cross-border payments, the partnership aims to enhance financial accessibility and convenience for individuals and businesses across the region. Through streamlined cross-border payment solutions, the alliance contributes to economic growth and development in Asia, empowering individuals with faster and more efficient remittance channels.

Meanwhile, in Africa, partnerships such as Safaricom and Onafriq are revolutionising the remittance landscape by enabling individuals in Ethiopia to receive remittances from global locations via M-PESA. This collaboration expands financial services in Africa, promoting greater financial inclusion and stability in the region. By leveraging Safaricom's M-PESA platform and Onafriq's technological capabilities, the partnership provides individuals with accessible and convenient options to receive money, thereby driving economic empowerment in Ethiopia and beyond.

In Latin America, the partnership between emerchantpay and FitBank underscores a commitment to strengthening cross-border payment capabilities and infrastructure, particularly targeting the Brazilian ecommerce market. Through FitBank's platform, emerchantpay enhances its payment solutions to facilitate Pix and Boleto transactions in Brazil, empowering merchants and traders with efficient cross-border payment options. Additionally, clients benefit from access to comprehensive support services, further enhancing the cross-border payment experience in the region.

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

Across the MENA region, collaborations such as TerraPay and Alfardan Exchange are augmenting cross-border payments in Qatar, promoting greater financial integration and connectivity. By expanding TerraPay's network to offer international money transfer services in Qatar, the partnership facilitates seamless cross-border transactions, contributing to economic growth and stability in the region.

Moreover, partnerships such as TerraPay and Diamond Trust Bank Uganda are expanding international money transfer options and strengthening financial inclusion in Africa. This collaboration facilitates direct account deposits globally, narrowing the financial inclusion gap and streamlining the processes of money transfer, savings, and credit accessibility for individuals in Uganda. Similarly, the alliance between Ebury and Nium aims to deliver a global remittance service in Brazil, enabling businesses to send or receive reliable and affordable cross-border payments to and from Brazil, further enhancing financial connectivity and facilitating international trade.

Exploring the rise of BNPL and Open Banking

In a rapidly evolving digital landscape, the dynamics of commerce are continuously reshaped by innovations in payment technologies. Two trends that have been gaining significant traction in recent years are BNPL and Open Banking payments. These innovations not only cater to the evolving preferences of consumers but also offer businesses unprecedented opportunities to streamline transactions and enhance customer experiences.

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

EazyPay's collaboration with Tabby in Bahrain exemplifies the growing demand for flexible payment options in the MENA region. By integrating Tabby's BNPL services into EazyPay's POS terminals network, consumers can enjoy the convenience of deferred payments while merchants benefit from increased sales and customer satisfaction. This partnership underscores the importance of offering seamless checkout experiences in today's competitive market.

Across Europe, Adyen and Billie are reshaping the landscape of B2B payments with their BNPL solutions. Through Adyen's fintech platform, businesses can effortlessly implement Billie's BNPL payment option, providing buyers with a frictionless purchasing experience. By simplifying the payment process, this collaboration not only drives sales but also fosters long-term customer loyalty in the European market.

In the MENA region, Paymob and Tamara are empowering SMEs by offering BNPL solutions that cater to the preferences of modern consumers. By enabling customers to split payments without hidden fees or interest, Paymob and Tamara are revolutionising the way transactions are conducted in the MENA region. This partnership not only reduces barriers to entry for merchants but also ensures secure and seamless transactions for all parties involved.

Mastercard's partnership with Nexi in Europe signifies a paradigm shift in the realm of Open Banking payments. By leveraging Mastercard's Open Banking infrastructure, Nexi is facilitating ecommerce transactions and establishing an integrated digital payment ecosystem across Europe. This collaboration not only promotes financial inclusivity but also drives innovation in the European payments landscape.

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

Ant International partners with Yapily and HungryPanda to introduce European commercial variable recurring payments (VRPs) for ecommerce via Open Banking on mobile payment platforms. This alliance aims to revolutionse commercial payments by leveraging Open Banking technologies, enhancing efficiency, and security while catering to evolving consumer needs.

In the UK, Acquired.com partners with Unitas Wholesale to deliver its Pay by Bank payment solution, streamlining Open Banking payments for merchants and traders. With instant fund access and certified payment processes, Pay by Bank simplifies transactions, enhancing the customer experience and driving innovation in the UK payment landscape.

In the gaming sector, Noda's partnership with Wargaming is bringing Open Banking payment solutions to online gamers across Europe. This innovative approach not only enhances the gaming experience but also showcases the versatility of Open Banking in catering to diverse consumer needs. By embracing Open Banking technologies, Noda and Wargaming are paving the way for seamless and secure transactions in the gaming industry.

In the US market, Link Money and Optty are revolutionising payment processing with their Pay by Bank solution. By enabling merchants to accept payments directly from bank accounts, without the need for credit or debit cards, this partnership is minimising processing fees and addressing fraud concerns. This collaboration underscores the potential of Open Banking to drive efficiency and cost savings for businesses in the US.

As BNPL and Open Banking continue to reshape the payment landscape, collaborations between fintech innovators and industry leaders are driving unprecedented levels of innovation and inclusivity. From offering flexible payment options to enhancing security and efficiency, these partnerships are unlocking new possibilities for businesses and consumers alike. As we look towards the future, it's clear that the convergence of BNPL and Open Banking will continue to redefine the way we transact and interact in the digital age.

Partnerships transforming payment experiences in the automotive industry

From streamlined parking payments to seamless car rental experiences, partnerships between financial entities, payment service providers, and automotive enterprises are revolutionising payment experiences within the industry. These strategic alliances not only simplify processes but also elevate convenience, security, and efficiency for consumers on a global scale.

The Paypers Global Partnerships Analysis Q1 2024 – Payments and Commerce

UnionPay International (UPI) and First Parking have joined forces to introduce a seamless parking payment service in Australia. This partnership enables UnionPay cardholders to directly link their cards with First Parking, offering them convenient and cashless payment options. Particularly beneficial for Chinese travelers frequenting Australia, this collaboration ensures a secure and hassle-free payment experience, setting a new standard for parking payment systems.

Hertz's collaboration with Stripe marks a significant step towards modernising the car rental experience. By consolidating in-person and online payment volumes onto Stripe's platform, Hertz, along with its subsidiary brands Dollar and Thrifty, provides customers with a diverse range of digital payment options. This strategic move aligns with Hertz's digital rental strategy, aimed at optimising operations and delivering streamlined rental experiences worldwide.

Mastercard's partnership with Last Mile Solutions in Europe is focused on enhancing payment standards within the Electric Vehicle (EV) charging sector. By unifying user experiences and ensuring compliance with EU regulations, this collaboration facilitates convenient and efficient EV charging transactions. Integration of payment terminals and streamlined transaction processing promises a seamless charging experience, contributing to the wider adoption of electric vehicles across the continent.

Brite Payments' collaboration with Northe introduces a simplified payment ecosystem for EV charging in Europe. Leveraging innovative solutions such as Brite Instant Payouts and Brite Data Solutions, this partnership streamlines payment processes for EV owners and leasing companies. By facilitating hassle-free reimbursement processes for home EV charging, Brite Payments and Northe promote the widespread adoption of electric vehicles while prioritizing transparency and reliability.

In conclusion, these strategic partnerships exemplify the convergence of innovation, collaboration, and consumer-centricity within the automotive industry. By prioritising seamless payment experiences, these initiatives meet the evolving needs of consumers while driving progress towards a more interconnected and sustainable future. As the automotive sector continues to embrace digital transformation, these partnerships serve as catalysts for change, shaping the landscape of payment experiences for drivers worldwide.


The payments industry is at the forefront of a dynamic transformation, driven by technological advancements and shifting consumer behaviours. As highlighted throughout this exploration, partnerships have emerged as indispensable catalysts for innovation, fostering collaborative efforts across various sectors to meet the evolving demands of modern consumers.

In a landscape where the global digital payments market is projected to reach staggering heights, collaboration has become more than a strategic choice – it's an imperative. From fintech startups to established financial institutions, organisations are leveraging partnerships to accelerate innovation and deliver seamless, secure, and tailored payment solutions.

Across diverse regions and industries, partnerships are reshaping payment experiences. From expanding payment methods and enhancing travel payment solutions to revolutionising cross-border payments and embracing emerging trends like BNPL and Open Banking, these collaborations are driving significant advancements.

In the automotive sector, partnerships are simplifying processes and elevating convenience for consumers worldwide. Whether it's streamlining parking payments, modernising car rental experiences, or facilitating EV charging transactions, these alliances exemplify a commitment to enhancing payment standards and driving progress towards a more interconnected and sustainable future.

As we navigate the rapidly evolving payments landscape, one thing is clear: partnerships will continue to play a pivotal role in shaping the future of finance. By embracing collaboration, organisations can unlock new possibilities, drive innovation, and ultimately deliver enhanced payment experiences that meet the evolving needs of consumers in an increasingly digital world.

About Claudia Pincovski

Claudia is a News Lead Editor at The PaypersClaudia is a News Lead Editor at The Paypers. Holding a bachelor’s degree in Journalism, she is very passionate about exploring the latest news on financial inclusion, financial literacy, digital banking, and Open Finance. Claudia is a diligent researcher, a meticulous editor, and an active advocate for diversity and inclusion.

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Keywords: payments , partnership, cross-border payments, remittance, Open Banking payments, e-wallet, ecommerce, digital payments, mobile payments, online payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce