Core Insights - The financial business of Mercado Libre, particularly its payment and credit segments, is crucial for the company's growth and market valuation [1][3] - The payment business serves as a traffic entry point rather than a primary revenue generator, while the credit business is expected to drive profitability [7][42] Financial Business Overview - Mercado Libre's financial business is categorized into three main segments: payment services, credit services, and digital wallet services [3][4] - Payment services include on-platform payments, off-platform payments, and Buy Now Pay Later (BNPL) options, with revenue generated primarily through transaction fees [5][6] - Credit services focus on loans to consumers and merchants, with significant revenue derived from interest on outstanding loan balances [4][50] - Digital wallet services provide users with various functionalities, enhancing customer engagement and data collection for credit services [44][46] Payment Business Dynamics - The payment business operates on a low-margin model, with net profit margins typically ranging from 20% to 40% of the total fee rate [11][12] - Payment fees are under pressure to decrease due to market maturity and competition, making it challenging to increase revenue through higher fees [14][18] - The growth of payment services is largely dependent on expanding the merchant base rather than increasing transaction fees [21][22] Credit Business Potential - The credit business has a high profit margin, with a net interest margin (NIMAL) exceeding 20%, indicating significant profitability potential in the Latin American market [50][73] - The total outstanding loans reached approximately $9.35 billion, reflecting a growth rate of over 90% year-on-year [56] - Credit card loans have become the primary growth driver within the credit segment, with a user base that has doubled in recent years [62][64] Market Position and Competition - Mercado Libre's market share in the credit sector remains low, with significant growth potential as it captures a larger portion of the market [64][65] - The competitive landscape in Brazil shows a shift towards fintech companies, with Mercado Pago's market share growing but still lagging behind competitors like PagSeguro and Stone [37][38] - The company's strategy focuses on leveraging its existing user base from e-commerce and payment services to drive growth in credit offerings [76][77]

每到节假日，支付宝都会推出各种消费券活动，不少市民领取后却面临"用不完"的尴尬局面。数据显示，2025年全国支付宝消 费券的平均核销率仅为65%，意味着有超过三分之一的消费券最终未能被使用。这些用不完的支付宝消费券最终只能过期作废 吗？其实，还有更好的处理方式。 支付宝消费券的使用痛点 许多消费者都遇到过这样的困扰：抢到了满减消费券，却发现适用门店距离太远；或者是领取了特定品类消费券，却没有相应 购物需求。时间一长，这些消费券就积压在卡包内，直到过期都未能使用。这不仅造成了个人经济损失，也从整体上降低了消 费券政策的刺激效果。 消费券过期前的应对策略 消费券回收服务的出现 面对即将过期的消费券，消费者通常有几个选择：一是突击消费，购买一些原本不需要的商品；二是转让给亲友使用；三是任 由其过期。第一种方式显然不经济，第二种方式又存在操作不便的问题。那么，有没有更合适的处理方式呢？ 近年来，随着数字消费券的普及，一些平台开始提供消费券回收服务。这类服务专门帮助用户将闲置的、即将过期的支付宝消 费券进行价值转化，避免了资源浪费。用户只需通过平台简单操作，就能将无法使用的消费券转换为实际收益。 如何安全高效地处理闲置 ...

Core Viewpoint - Newland Technology Group showcased its cross-border payment capabilities at the 25th China International Investment and Trade Fair, emphasizing its role in empowering a new ecosystem for global trade [1][3]. Group 1: Event Overview - The 25th China International Investment and Trade Fair took place from September 8 to 11 in Xiamen, attracting representatives from over 120 countries and regions, along with 11 international organizations [1]. - The theme of the fair was "Join Hands with China, Invest in the Future," making it a significant platform for showcasing cutting-edge technology, discussing industry trends, and promoting international cooperation [1]. Group 2: Company Innovations - Newland Technology Group presented a series of innovative technology products and smart scene solutions, particularly in cross-border and foreign card payment sectors, highlighting its leading position in digital commerce and global layout [3]. - The company has obtained the U.S. Money Services Business (MSB) license and launched a one-stop cross-border payment solution, focusing on the needs of outbound merchants and providing multi-currency B2B payment services [3]. Group 3: Product Developments - Newland's subsidiary, Guotong Xingyi Network Technology Co., Ltd., has enhanced terminal products, including the T9 smart terminal, which processes mainstream foreign card transactions quickly and addresses power outage issues [5]. - The non-contact scanning box redefines the "Card Code PAY" payment method, improving user experience by enabling instant payment and reducing transaction time, thus addressing pain points in traditional foreign card payments [5]. Group 4: Strategic Goals - Newland aims to leverage the investment fair to deepen its engagement in the digital commerce sector, expand its international vision and cooperation network, and drive the globalization of its product and service offerings [5].

Core Insights - The article highlights the preparations made by overseas merchants to welcome Chinese tourists during the upcoming "Golden Week" holiday, emphasizing the convenience of using Alipay+ for cross-border services [1][2]. Group 1: Alipay+ and Cross-Border Services - Alipay+ has partnered with Grab, Southeast Asia's largest ride-hailing platform, allowing users from Alipay, AlipayHK, and GCash to book rides directly through their home wallet apps in Southeast Asia [2]. - The service covers eight Southeast Asian countries, enabling Chinese tourists to book Grab rides in their native language and pay in RMB, along with exclusive discounts [2][4]. - Alipay's cross-border payment services are now available in over 70 countries and regions, providing tailored travel solutions and discounts for various destinations [4]. Group 2: Enhancements for Chinese Tourists - In Singapore, public transport services are now accessible to Chinese tourists through Alipay, allowing them to purchase NETS cards for seamless travel across the city [4]. - The Fairprice Group in Singapore has integrated Alipay+ across over 500 stores, enabling tourists from 12 countries to use their home wallets for payments [7]. - Cheers convenience stores in Singapore are preparing to launch a dedicated mini-program on Alipay, enhancing the shopping experience for Chinese visitors [5][8]. Group 3: Expanding Payment Options - Alipay+ connects with 36 e-wallets and national QR payment systems, reaching over 1.7 billion users and 100 million merchants, primarily small and medium-sized enterprises [10]. - The service addresses common pain points for tourists, such as cashless payments for public restrooms and vending machines in Europe, enhancing the overall travel experience [10]. - New features on Alipay's "overseas travel" section include booking services for popular attractions, allowing users to interact with a smart assistant for personalized travel recommendations [10].

中新社上海9月15日电 (高志苗)英国跨境支付服务提供商PPRO首席商务官埃科·德廷迈尔(Eelco Dettingmeijer)近日接受中新社采访时表示，深耕中国市场十年，PPRO见证了中国企业跨境支付业务的 迅猛发展，中国市场蕴含着令人振奋的机遇。 (投资中国)英国跨境支付服务提供商PPRO：中国市场蕴含令人振奋的机遇 面对中国支付机构出海的趋势，埃科·德廷迈尔强调PPRO秉持开放合作态度，期待共同助力更多中国企 业走向全球。他表示，未来，PPRO将继续加大在中国市场的投入，深化本地化服务，助力中外商贸双 向畅通。(完) 来源：中国新闻网 编辑：郭晋嘉 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 "中国企业出海的增长态势明显。"埃科·德廷迈尔说，以部分欧洲市场为例，在电商领域排名前五的公 司当中，通常至少有一家或者多家中国企业占据主导地位，拉丁美洲的市场也呈现出相同的趋势，中国 电商企业在全球范围内的表现亮眼。 数 ...

新大陆在服贸会上的精彩亮相，不仅是福建企业数字化创新实力的生动展现，更彰显中国企业在全球服 务贸易浪潮中的积极作为。未来，新大陆国通星驿将持续深耕"支付+"生态，以更前沿的数字商业创新 成果，推动全球贸易高质量发展，赋能千行百业商户数字化转型升级。 随着中国企业的出海热潮以及跨境电商、跨境贸易投资日益频繁，跨境支付需求多元化，尤其需要支付 机构提供本地化服务。新大陆科技集团旗下子公司福建国通星驿网络科技有限公司（简称"国通星驿"） 作为领先的综合支付服务机构，围绕多元化支付需求，在现场展出数字支付产品矩阵——非接扫码盒实 现即扫即付与一拍即付双重功能，为商户升级外卡受理能力，为外籍来华人士提升在华支付体验；外卡 受理终端T9、数币受理终端ME70及国补受理终端N910等设备精准匹配不同支付场景，优化外卡支付服 务，推广数字人民币普及，助力国补政策落地；支付宝"碰一下"凯旋版及聚合支付收款云音箱等设备凭 借创新的支付方式及便捷的操作体验，满足各类商户收款需求，全面提升支付服务效率。 同时，新大陆国通星驿还积极探索和创新AI技术在面向实体商户场景化服务中的应用，为千行百业提 供更高效、更智能、更具韧性的服务支撑， ...

Core Viewpoint - PayPay has partnered with WeChat Pay to allow Chinese tourists to make payments at PayPay加盟店, aiming to increase transaction volume by catering to the growing demand from visitors to Japan [2][4]. Group 1: Partnership Details - Starting from mid-September, WeChat Pay users can scan QR codes at PayPay加盟店 for automatic currency conversion and payment deduction from their WeChat balance [2][4]. - Even stores in Japan that do not support WeChat Pay will accept payments as long as they are PayPay加盟店, enhancing accessibility for users [4]. Group 2: Market Context - The collaboration is timed with the upcoming Osaka Kansai Expo and the autumn foliage season, which are expected to attract more Chinese tourists to Japan [4]. - PayPay is expanding its partnerships with overseas cashless payment services, now supporting users from 14 countries and regions with 26 types of cashless payment services at PayPay加盟店 [5].

新浪科技讯 9月12日上午消息，支付宝在2025 Inclusion·外滩大会宣布推出国内首个"AI付"服务，面向AI 时代为智能体提供支付服务，并率先在瑞幸咖啡的AI点单助手"Lucky AI"上线，用户可在瑞幸支付宝小 程序或瑞幸咖啡App，用说话的方式完成下单并支付。这也是行业首次打通智能体内的下单与支付全链 路，实现无缝的AI服务体验。 以点咖啡为例，此前用户通过AI智能体下单，仍需跳转至支付页面再予手动确认。现在，用户在瑞幸 支付宝小程序或瑞幸App唤起"Lucky AI"，不仅可以说句话点咖啡，还可以直接说句"下单"，完成身份 核验后即支付。整个过程用户无需离开AI对话界面，像日常和店员聊天一样简单自然。（罗宁） 责任编辑：江钰涵 专题：2025 Inclusion·外滩大会 ...

Summary of Paymentus Conference Call Company Overview - **Company**: Paymentus - **Industry**: Bill payment and presentment solutions - **Market Position**: Grew from $300 million at IPO to over $1.1 billion currently, indicating significant market capture and growth potential [2][4] Core Industry Insights - **Market Opportunity**: The U.S. bill presentment market is large and growing, with Paymentus capturing only about 3.5% to 4% of the total market, which was approximately $16 to $17 billion in payments last year [9][10] - **Non-Discretionary Nature**: Paymentus operates in a non-discretionary segment of the economy, focusing on essential bills like utilities, which are less sensitive to economic fluctuations [25][26] Key Business Strategies - **Platform Design**: Paymentus has designed its platform to be scalable and adaptable across various verticals, allowing for a unified code base that enhances customer experience and operational efficiency [3][4] - **Customer-Centric Approach**: The company emphasizes understanding customer needs and maintaining a customer-centric culture, which has been integral to its success [15][16] - **Expansion Across Verticals**: Paymentus has expanded into multiple sectors including utilities, insurance, government services, healthcare, telecom, and education, with utilities still representing close to 50% of its business [21][23] Financial Performance - **Operating Leverage**: The company has demonstrated improved operating leverage, with an incremental adjusted EBITDA margin of over 50% in recent quarters, allowing for increased investment in sales and marketing [19][20] - **Growth Metrics**: Paymentus aims for a top-line growth of 20% CAGR and bottom-line growth of 20% to 30% CAGR, with strong visibility into future performance based on current contracts and backlog [47][34] Competitive Landscape - **Complexity of Bill Payment**: Paymentus differentiates itself by addressing the complexities of bill payment, which involves unique business rules and integration challenges that competitors may not effectively manage [39][40] - **Instant Payment Network (IPN)**: The IPN is a critical component of Paymentus's strategy, allowing billing companies to reach customers through various channels, enhancing payment accessibility [43][44] Macro Environment Considerations - **Resilience to Economic Changes**: Paymentus's focus on essential services makes it less vulnerable to macroeconomic fluctuations, with a strong emphasis on customer support during inflationary periods [25][26][27] Future Outlook - **Pipeline Strength**: The company reports a strong pipeline with a mix of small, medium, and large enterprise customers, providing confidence for future growth [33][34] - **Capital Allocation**: Paymentus prioritizes organic growth and is open to opportunistic M&A, although there are no current plans for acquisitions [54][55] Additional Insights - **Digitalization Trend**: The shift towards digital payment methods is expected to drive revenue growth as manual payment methods decline [30][31] - **Agentic AI Potential**: Paymentus sees potential in leveraging Agentic AI for both internal efficiencies and enhancing customer experiences [52][53] This summary encapsulates the key points discussed during the Paymentus conference call, highlighting the company's growth trajectory, market opportunities, strategic initiatives, and financial performance.

Core Insights - Alipay's "Tap to Pay" feature has surpassed 200 million users, doubling the speed of user acquisition to reach this milestone in just four months [1][3] - The launch of the first domestic "AI Payment" service was announced, with the initial implementation in the "Lucky AI" ordering assistant at Luckin Coffee [1][3] User Growth and Engagement - The "Tap to Pay" feature achieved over 100 million users within 321 days of its launch, setting a new growth record in the payment sector [3] - Nearly 100 million users have utilized at least two "Tap to Pay" services, indicating strong engagement [3] - The feature supports over 1,000 different scenarios, including food ordering, package collection, and interactive red envelopes, showcasing its versatility [3] Ecosystem Development - Smart devices such as smart glasses and smartwatches have been integrated into the "Tap to Pay" ecosystem [3] - A "Tap to Pay Application Ecosystem Alliance" was launched with ten major smart hardware manufacturers, including Huawei, OPPO, and Xiaomi, to enhance the ecosystem [3] Future Projections - The Chief Technology Officer of Ant Group's Digital Payment Division predicts that natural interaction payments could exceed 50% in the next five years, with a tenfold increase in diverse smart device payments [4] - The market for more intelligent AI payment solutions is expected to reach a trillion-level scale [4]