Adyen to boost Klarna's growth as acquiring bank 🚀; Wise continues changing the game for banks 🏦; Revenue-based financing is heating up in the Middle East 💸

FinTech is Eating the World, 5 December

Hey Everyone,

Happy Wednesday! Due to technical challenges, we’re running a bit behind. But don’t worry as today’s issue is the best one this week. We’re going to look at Adyen powering Klarna's growth as an acquiring bank (why this is a major win for Adyen + deep dives into both Klarna & Adyen), Wise which continues changing the game for banks (another partnership secured + a closer look at the underrated FinTech gem), and revenue-based financing that’s heating up in the Middle East (it’s a positive thing both for the industry and economy as a whole). Let’s jump straight into the cool stuff 🌶

Adyen to boost Klarna's growth as acquiring bank 🚀

The news 🗞️ Payment titan Adyen has struck a major partnership with Buy Now, Pay Later (BNPL) giant Klarna to act as its global acquiring bank starting in 2024.

P.S. Adyen isn’t just another PSP - it’s also a bank, and that makes a huge difference.

This agreement significantly expands an existing 10-year collaboration and hands Adyen responsibility for processing Klarna's card-based payments worldwide.

Let’s take a look at this and see why it’s a massive win for Adyen.