Cash as a form of payment is so close to extinction in Australia that the country’s only major remaining cash courier nearly went out of business in June and the current administration is having to introduce legislation to protect it!
Obviously, the shrinking role of cash is not just an Aussie story. Graphic from Worldpay.
Extract from September’s ‘SaaS Unicorns 'X' Glue Factory?’ edition (link).
I suspect that the recent Lazarus-like breakout of $SQ has more to do with the emergence of the US’s first ‘crypto-sympathetic’ administration than anything else. We shall see. Square Inc., weekly chart (Source: Tradingview)
The same (crypto effect) can probably be said of $PYPL, the payments business which acted as the financial springboard for so many of President-elect Trump’s West Coast financial backers, the PayPal mafia. Weekly chart (Source: Tradingview).
The 🐿️ may return to the BNPL topic when and if Sweden’s Klarna files its registration statement with the SEC. A successful IPO could re-open the market for a long queue of arguably more interesting fintech unicorns.
Infographic from BusinessDough.com
Failures of legacy IT systems have a habit of justifying the requirement of 3rd party IT consultant reviews after the headlines hit!
EM payments companies will however have to share that growth with central bank sponsored instant payment rails such as UPI in India and Pix in Brazil.
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