Fintech
Payments, banks and financial technology, with a short English summary and a link to the original article. RSS
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Fintech
Wise adds eSIM data and local QR payments across five continents
Wise has added eSIM data plans to its app that travellers size themselves by data and days, with refunds for anything left unused. It has also connected to local QR payment schemes such as Pix in Brazil and PayNow in Singapore. Through a partnership with Alipay+, users can pay merchants in more than 50 destinations, including mainland China. Alipay+ is not offered to customers in the US and Canada.
What it means: With eSIM data plans and links to local QR payment schemes, Wise is gradually turning from an international money transfer app into an all-in-one travel app that covers both connectivity and spending without the traveller needing to switch cards or SIM cards. Refunds for unused data are a practical difference from many roaming packages, and show fintechs competing on simplicity and price transparency, where traditional providers often fall short. Access to schemes such as Pix and PayNow, along with the Alipay+ partnership, solves a real problem, since in many countries QR codes are the dominant way to pay and foreign cards are not always accepted by small shops. For mobile operators, the message is that roaming revenue outside Europe is under threat from players that are not even telecom companies, while for business travellers it means fewer apps and more predictable costs on every trip abroad, whether for a short meeting or a longer stay.
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Fintech
Revolut Pay arrives at Harvey Norman's online checkout in Ireland
Revolut has partnered with Harvey Norman so shoppers can pay on the chain's Irish online store in one click, using their Revolut balance or saved cards. Revolut has more than 3.4 million customers in Ireland and 80 million worldwide. The company cites an average approval rate of 98.5% and checkout drop-off below 5%. The deal extends an existing partnership between the two firms in the UK.
What it means: Revolut's deal with Harvey Norman in Ireland shows neobanks no longer content with offering accounts and cards, and wanting to sit on the merchant side as well, as a payment method at online checkouts, claiming a share of revenue that until now went to card networks and traditional processors. Revolut's large customer base in Ireland is a strong argument for the retailer, because one-click payment without typing in details reduces abandoned baskets, although the approval and drop-off rates the company cites are its own figures rather than an independent measurement. The fact that the partnership extends an existing relationship in the UK shows these deals are built step by step, market by market, on results the merchant has already seen. For European online shops, it means checkout options will grow beyond cards, and it is worth comparing costs and conversion before adding new payment methods to their own checkout.
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