Insights

Customer centricity is key for any modern-day payments business. The days when product design was driven solely by what the FI wanted to offer are long gone, and what the customer wants is now at the epicentre of all business product decisioning. This is by no means a bad thing, but there are always consequences whenever there is a significant shift in strategy.

Quipu proudly celebrates its 20th anniversary this year, underscoring two decades of pioneering end-to-end solutions for banks and financial institutions. Compass Plus Technologies is proud to have supported Quipu in becoming a globally recognised leader in payments processing throughout this long-term partnership.

Over the past decade, BNPL market has seen exponential growth, projected to rise to US$995 billion in 2026, driven by fintechs like Klarna. This has given rise to a variety of BNPL models, one of which is card-linked BNPL. But what exactly is this model? How does it operate and why is it particularly appealing to banks and PSPs?

One of the largest financial institutions in the Middle East had a long-term business strategy to move into the acquiring market. However, as the market was already saturated, it knew it needed to launch something truly different to be able to compete. Recognising the untapped potential in mobile payments in Jordan, the bank chose to focus on creating a value proposition that utilised the high mobile penetration rate in the country to appeal to all market players, from small businesses to large enterprises.

Klarna required a flexible and customisable third-party solution to replace its in-house platform that would enable easy system development, the ability to create new products quickly and grow the business on a global scale.

Recognising the evolving landscape of financial services and the growing demand for flexibility and convenience, one of Myanmar’s largest private banks embarked on a project to introduce innovative buy now pay later (BNPL) products.