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Archive · May 15, 2026

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Story 01

Klarna Hits Profitability Post-IPO, Raising Stakes for BNPL Competitors and Investors

Klarna reported breaking even for the first time since its $15 billion New York IPO last September, marking a major milestone for the Swedish fintech. This shift to profitability signals Klarna’s pivot from growth-at-all-costs to sustainable margins, putting pressure on Affirm, Afterpay, and PayPal to show similar financial discipline. Investors may now favor BNPL providers with clear paths to profit, while rivals relying on subsidized growth face tougher scrutiny.

Source: Finextra
Also Worth Knowing
№02

Fasset Raises $51M to Expand Stablecoin-Powered Digital Banking Platform

Fasset secured $51 million in Series B funding to scale its stablecoin-powered digital banking services. The capital will fuel expansion into new markets and product lines, challenging traditional banks and digital wallet providers with faster, lower-cost cross-border payments. As regulators clarify rules for stablecoins, Fasset’s expansion is expected to drive more banks and payment firms to adopt tokenized settlement for international transfers.

Source: Finextra
№03

Saudi FinTech Stitch Raises $25M to Modernize Bank Core Infrastructure in MENA

Stitch raised $25 million in Series A funding to build a modern operating system for financial institutions across the GCC and MENA regions. By replacing fragmented legacy bank cores, Stitch enables regional banks to launch new products faster and deliver improved digital experiences. Banks that continue relying on outdated infrastructure risk losing customers to competitors adopting Stitch’s platform.

Source: PYMNTS
№04

NYC Mayor Urges Regulators to Block Western Union’s Intermex Acquisition Over Remittance Fees

New York City Mayor Zohran Mamdani called on regulators to halt Western Union’s proposed acquisition of Intermex, citing risks of higher remittance fees for consumers. If blocked, the move would preserve competition in the US-Mexico remittance corridor and limit Western Union’s pricing power. Western Union and Intermex now face increased regulatory scrutiny, with potential delays or rejection of the deal impacting their market strategies.

Source: Finextra
№05

Adyen and SAP Launch Unified Payments Solution for Enterprise Clients

Adyen announced a partnership with SAP to power the new SAP Unified Payment solution, integrating payment processing for SAP’s enterprise customers. This collaboration gives Adyen deeper access to large corporates seeking streamlined global payments, while SAP clients gain a single platform for multi-channel transactions. Competing processors must now match Adyen’s enterprise reach and integration depth to retain major accounts.

Source: Finextra
The Long Memory
“In 2023, the Central Bank of Nigeria reported that over 60% of Nigerians used digital payments weekly, despite only 45% having access to formal banking.

Filed under: Payments History · The Long Memory

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