Fashion Fintech Is on Fire
The global payments and processing industry is heating up. Following the recent all-stock “merger of equals” deal between Global Payments and Total System Services, which created a $40 billion company, the fintech industry is poised for further growth and consolidation as consumers, vendors, brands and suppliers search for more payment options, flexibility and choice. In the retail and fashion space, the explosive growth of e-commerce coupled with a push by direct-to-consumer brands is fueling a fintech frenzy. At every possible point of transaction, there seems to be a payments and/or solutions platform or app ready to help. At one tier are consumer apps and solutions (Apple Pay, Alipay, Samsung Pay, Google Wallet, etc.) focused on transactions and which are supported by payment methods (Visa, Mastercard, Paypal, American Express, etc.). There’s also a tier of business-to-business-to-consumer platforms that offer a selling option for brands and payment flexibility for consumers (Klarna, Affirm, Afterpay, etc.). Then there are b-to-b solutions that are helping to drive global commerce and facilitate cross-border transactions (Payoneer, Adyen, etc.). And there are also peer-to-peer apps and platforms to send cash to friends and family (and the plumber who just fixed your sink) such as Venmo, Paypal, Square Cash, Zelle, Google WalletFollow WWD on Twitter or become a fan on Facebook.
from WWDWWD http://bit.ly/2WF95Ue
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