26年前，马云创办阿里巴巴，立志让天下没有难做的生意；21年前，支付宝成立，为无数的用户和商家提供了便捷的支付，仍然是在践 行阿里的使命。 如今，从阿里分拆出来的蚂蚁集团已经带着支付宝走向了全球，让更多的海内外用户和商家，跨境支付不再是难题，生意也更好做了。 随着元旦、春节的临近，新一波旅游旺季来临，翻看朋友圈，越来越多好友走出国门，分享着海外旅游打卡的美照。支付宝的跨境支付 等业务也被越来越多的人了解和使用，深耕海外的支付宝吃到了全球消费市场的红利。 作为跨境移动支付和数字化平台，Alipay+已经将亚太地区的40个电子钱包及11个国家二维码网络纳入自己的合作"朋友圈"，并在全球百 余个市场插旗。而这还只是蚂蚁国际版图的一角。 除Alipay+外，蚂蚁国际的Antom、WorldFirst以及嵌入式金融服务这四大业务，先一步在跨境游、企业出海的机遇中占据了C端支付、B 端收单、B2B收付兑这些关键的跨境支付入口。 因此，在去年蚂蚁集团"一拆四"的组织架构调整中，迅速向外生长的国际业务得以独立，成为整个集团"化整为零"后最有可能走出独立 业绩，甚至重返资本市场的先头部队。 全球"扫码" 十年前，业界对全球支付 ...

Dutch payment company Mollie is close to signing a deal to takeover UK-based fintech GoCardless, reported Bloomberg, citing familiar sources. The acquisition is expected to be announced as soon as this week. The deal is said to follow GoCardless’s decision nearly a year ago to pause a secondary share sale for investors and early employees, shifting its focus to exploring potential buyers. This transaction is set to bring together two privately-held fintech firms, potentially increasing their scale to c ...

on 10-Dec-2025 9 December 2025 US Payments and Internet The Age of Agents: How does it change commerce and how we pay? Harshita Rawat, CFA +1 917 344 8485 harshita.rawat@bernsteinsg.com Nikhil Devnani, CFA +1 917 344 8425 nikhil.devnani@bernsteinsg.com Mark Shmulik +1 917 344 8508 mark.shmulik@bernsteinsg.com Richard J. Clarke, FCA +44 20 7676 6850 richard.clarke@bernsteinsg.com Wenhuan Chang +1 917 344 8546 wenhuan.chang@bernsteinsg.com Lavnik Balyan +1 917 344 8563 lavnik.balyan@bernsteinsg.com A century ...

Core Insights - Block's Black Friday and Cyber Monday (BFCM) performance indicates a growing trend towards local spending, with a 10% increase in transactions compared to the previous year [1][9] Group 1: BFCM Performance - Block processed over 124 million transactions during the BFCM weekend, marking a 10% rise year over year [1][9] - Approximately 49.8 million unique consumers engaged with Block's platforms, serving over 1.3 million businesses [2][9] - Midtown Atlanta was identified as a local loyalty hotspot, with 57.9k repeat customers and 469k local transactions [2] Group 2: Consumer Behavior - The average Buy Now Pay Later (BNPL) basket size increased by 10%, indicating customers are purchasing more items per transaction [3] - Consumer spend per customer using BNPL rose by 6%, suggesting increased engagement with the Afterpay app [3] Group 3: Financial Performance - In Q3 2025, Block reported transaction-based revenues of $1.87 billion, a 9.4% increase year over year, with transaction revenues accounting for 30.6% of net revenues [4] - Square's Gross Payment Volume (GPV) reached $67.15 billion in Q3 2025, up 12.2% year over year, driven by new product launches and international expansion [5] Group 4: Market Comparison - Adyen's platform processed $43 billion during the BFCM weekend, a 27% increase year over year, with peak transactions reaching 199,000 per minute [6] - Shopify reported $14.6 billion in global sales over the BFCM weekend, up 27% from last year [7] Group 5: Valuation and Estimates - Block's shares have declined by 29.3% year to date, underperforming the broader industry and the S&P 500 Index [8] - The Zacks Consensus Estimate for full-year 2025 EPS has been revised downward, indicating a projected 28.2% decrease year over year [11]

Accessibility StatementSkip Navigation NEW YORK, Dec. 2, 2025 /PRNewswire/ -- This year's Black Friday/Cyber Monday (BFCM) proved to be another record-breaking holiday shopping weekend, where consumer traffic and demand spiked, and the Adyen platform delivered, processing a total volume of $43 billion across the BFCM weekend (up 27% vs. last year), while maintaining an exceptional 99.9999% uptime. Transactions per minute on the Adyen platform reached a peak of 199,000 on Black Friday. Additional insights fr ...

Core Viewpoint - Large-cap stocks like Amazon and Adyen are expected to outperform broader equities over the next decade due to their established market positions and growth potential [2]. Group 1: Amazon - Amazon is a leader in multiple markets including video streaming, music streaming, e-commerce, digital advertising, and cloud computing, showcasing impressive performance across these sectors [3]. - The digital ads segment is one of Amazon's fastest-growing areas, benefiting from high margins and strong traffic to its platform, which is expected to drive increased ad demand [4]. - Amazon Web Services (AWS) is a significant contributor to Amazon's operating profits and is poised for growth, particularly due to advancements in artificial intelligence [6]. - Amazon's healthcare initiatives, such as Amazon Pharmacy and Amazon One Medical, are gaining traction, leveraging its large Prime membership base of over 200 million [7]. - Despite its current market cap of $2.5 trillion, Amazon has substantial upside potential for long-term investors [8]. Group 2: Adyen - Adyen is a leading fintech company that provides an integrated platform for multinational corporations to process various payment methods, enhancing efficiency and risk management [9]. - The company has experienced solid revenue and earnings growth, with a 20% year-over-year revenue increase to €1.09 billion ($1.3 billion) in the first half of the year, and an EBITDA margin of 50% [12]. - Adyen is focusing on expanding its presence in markets like the U.S. and targeting large-format retail clients, which could provide significant growth opportunities [13][14]. - The company has established high switching costs and a strong brand within its niche, positioning it well for future performance [14].

Klarna Group (NYSE:KLAR) is one of the best new stocks to invest in. On November 27, Klarna announced a new multi-market partnership with Lufthansa Group, Europe’s leading airline group. This agreement was facilitated by Klarna’s integration with Adyen, a financial technology platform. The collaboration reflects the growing global demand for smarter and more flexible ways to pay for travel. The stock tickers mentioned are KLAR and ADYEY. Beginning in November, Lufthansa Group customers gained the ability ...

Core Insights - Lufthansa Group has partnered with Klarna to offer flexible payment options for travelers, allowing them to pay in full, pay later, or pay over time [2][3][4] - The rollout of these payment options began in mid-November across the United States and nine European countries, with plans to expand to all network airlines by the end of Q2 2026 [2][4] Company Strategy - The partnership aims to enhance customer experience by providing greater choice and flexibility in payment methods, aligning with Lufthansa Group's focus on customer needs [4] - Klarna's integration with Adyen, a FinTech platform, is expected to deliver a smooth and flexible checkout experience for Lufthansa Group customers [3][4] Market Trends - A PYMNTS Intelligence report indicates that 8% of consumers used buy now, pay later (BNPL) options for travel expenses in the past three months, highlighting a growing trend towards flexible payment solutions in the travel industry [5] - The convenience of the application process is a significant factor influencing consumers' decisions to use BNPL, with 7% citing it as the most influential reason [5]

Core Insights - Klarna has announced a multi-market partnership with Lufthansa Group to offer flexible payment options for travelers in Europe and the U.S. [1][2] - The integration allows customers to pay in full, pay later, or spread the cost over time, enhancing convenience and control for travelers [2][3] - The rollout of these payment options will begin in mid-November and expand across all Lufthansa Group Network Airlines by the end of Q2 2026 [3] Company Overview - Klarna is a global digital bank with over 114 million active users and processes 3.4 million transactions daily [5] - The company partners with over 850,000 retailers, including major brands like Uber, H&M, and Airbnb, to provide innovative payment solutions [5] - Klarna is listed on the New York Stock Exchange under the ticker symbol KLAR [5] Industry Context - The partnership reflects a growing demand for flexible payment solutions in the travel industry, as more travelers seek fairer payment options [3][4] - Klarna's collaboration with Lufthansa Group adds to its existing partnerships with leading travel brands such as Airbnb, Expedia, and Booking.com [4]

Core Insights - The merchant economy is transforming banking by shifting focus from traditional banking services to integrated payment solutions that enhance customer relationships and provide actionable insights [6][65][74] Merchant Ecosystems - Merchant ecosystems create defensible scale for banks, offering continuous customer touchpoints and recurring fee income, while increasing switching costs for businesses that integrate their operations with a single provider [1] - Leading banks are repositioning themselves to occupy the operating layer of commerce, moving beyond merely financing transactions to integrating analytics and payment solutions into merchant platforms [2][6] Performance Metrics - The evaluation of merchant portfolios has shifted from cost-to-income ratios to metrics like throughput, retention, and share of wallet, indicating a new frontline of competition in merchant services [3][5] - The focus has moved from the number of accounts to the number of active terminals, reflecting the importance of transaction volume in retail banking [3] Technological Advances - Advances in cloud computing and data analytics enable real-time interpretation of transaction flows, turning them into actionable intelligence for banks [4][20] - The digitization of commerce post-pandemic has expanded acceptance networks, allowing small businesses to utilize various payment methods beyond traditional card rails [4] Strategic Shift in Banking - Merchant services have evolved from a back-office function to a strategic center of growth, with banks now required to orchestrate relationships rather than merely process transactions [11][12] - The role of relationship managers has transformed to focus on conversion rates and platform integration, emphasizing the need for multidisciplinary teams in merchant services [12][13] Instant Payments - Instant payments have become a defining standard in the merchant economy, reshaping liquidity management and customer experience for both banks and merchants [15][16] - The shift to real-time payments requires banks to manage liquidity dynamically, responding to new expectations from merchants for immediate transaction confirmation [17][20] Embedded Lending - Modern merchants view lending as an embedded service integrated into daily transactions, allowing for contextual lending that activates based on real-time cash flow [22][24] - The evolution of lending from traditional methods to algorithmic assessments based on live transaction data enhances credit decision-making and reduces risk [23][30] Data Utilization - Data generated from transactions serves as a new form of collateral, enabling banks to assess creditworthiness through behavioral risk analytics rather than traditional metrics [28][30] - The ability to turn transaction data into predictive insights allows banks to anticipate merchant needs and provide timely support [41][46] Partnerships and Ecosystem - The future of banking will rely on strategic partnerships, where banks collaborate with technology firms and other service providers to create integrated solutions for merchants [59][60] - The emerging value chain in merchant banking emphasizes horizontal collaboration over vertical integration, focusing on the orchestration of services rather than unilateral control [52][53] Reliability and Trust - Reliability is becoming a key differentiator in the banking sector, with merchants prioritizing consistent service and operational resilience over cost [71] - The relationship between banks and merchants is evolving into a compact of shared data, responsibility, and growth, fostering a more integrated approach to financial services [72][76]