Adyen + Olo = ๐; JPMorgan has built its own ChatGPT for Finance ๐ณ; Wise is challenging Revolut? ๐
Adyen + Olo = ๐; JPMorgan has built its own ChatGPT for Finance ๐ณ; Wise is challenging Revolut? ๐
FinTech is Eating the World, 27 April
Hey Everyone,
Good morning! Weโre slightly behind the schedule but itโs totally worth it ๐๐ฝ Today weโre going to look at Adyen partnering with Olo (this is how FinTech partnerships should look like + diving deep into Adyen), JPMorgan which has built its own ChatGPT for Finance (this is super interesting + how generative AI with disrupt Finance forever), and Wise that is challenging Revolut (big moves + big dives into Wise). Letโs jump straight into the exciting stuff ๐ถ
Adyen + Olo = ๐
The deal ๐ค Dutch FinTech giant Adyen has partnered with the SaaS platform for restaurants Olo to help restaurant brands consolidate payments, apply for capital, and manage cash flow.
More on this ๐ Olo Pay is Oloโs modern payment tech-stack purpose-built for restaurants that provides fraud and chargeback features while aiming to increase conversion rates, with the service having processed up to this point digital payments of the likes of online orders, QR code order-at-table, and mobile wallets.
By collaborating with Adyen, Olo Pay is going to enable its customers to accept and oversee digital and in-store payments alike from the same Olo platform leveraged to manage the remaining of their business.
โ๏ธ THE TAKEAWAY
A win-win ๐ค Adyen and Olo deal is what partnerships in FinTech are all about. For Olo, it further strengthens their positions as the ultimate SaaS platform for restaurants (the biggest competitor to Square? ๐). When it comes to Adyen, the deal will further expand the FinTech giantโs reach in the hospitality sector. Looking ahead, by adding embedded financial services such as Capital, Accounts, and Card Issuing in the future, both firms would be able to build additional revenue streams, grow customer stickiness and reduce churn. We need more stuff like this across the board.
ICYMI: Adyen is the fastest-growing global payments platform ๐ [deep dive into the FinTeh giant + 2 more reads]