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Wallet wars: How digital payments are reshaping finance

The Payments Association

We are seeing strong adoption and demands for wallets like PayPal, Alipay, and WeChat Pay as they have evolved from basic payment tools to comprehensive financial ecosystems. For example, Goldman Sachs partnered with Apple for the Apple Card and savings account offering in 2019.

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The Complete Guide to Merchant Services for Small Business Owners

Stax

In theory, you could accept third-party payment methods like PayPal, Apple Pay, or Google Pay without merchant services, but this would require individually setting up and integrating each one into your website or point-of-sale setup. With merchant services, you can integrate these capabilities into one cohesive system.

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What is Click to Pay and How Does It Work?

Stax

The payment system was introduced in 2019 by the major card schemes, including Visa, American Express, Mastercard, and Discover in response to the demand for a more standardized, frictionless, and secure online payments regime. Proprietary systems issued by companies like Apple Pay, Google Wallet, Samsung Wallet, and PayPal.

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The Full List of Fintech Unicorns in Asia (2025)

Fintech News

ZA Group Valuation: $1 billion ZA Group, founded in 2019 by ZhongAn Technologies International Group Limited (ZA Global), is a digital-focused financial brand. Ajaib Valuation: $1 billion Ajaib, founded in 2019, is an investment platform that provides services like stock trading, mutual funds, and coins. CRED Valuation: $6.4

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Payment Processing for Small Businesses: What They Don’t Tell You

Clearly Payments

The Truth About Flat-Rate Processing Many small businesses are drawn to flat-rate pricing because it seems simple, with rates like 2.9% + 30 per transaction (common with providers like Square and PayPal). Mobile wallet usage (Apple Pay, Google Pay) has increased by 80% since 2019.

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Adyen opts for build over buy

Payments Dive

Then there are digital rivals PayPal Holdings and Stripe also battling for merchants’ payments volume. It absorbed Clover as part of its 2019 mega-deal to buy First Data, which had purchased Clover in 2012. Some of those competitors have taken a very different approach to expansion, opting for acquisitions.

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Bilt Rewards Acquires Banyan for Item-Level Receipt Data

Finovate

” Since it was founded in 2019, Banyan has analyzed more than 20 billion receipts and processed hundreds of billions of dollars in spending. PayPal, which launched its Smart Receipts tool earlier this year, is a prime example of this.