Paypal’s share price has fallen over 65% in the past year.
The share price also plunged over 25% earlier in February.
Op-ed
Fintech is in crisis. Paypal’s share price has fallen over 65% in the past year, and plunged over 25% earlier in February when the company released its weak revenue and profit forecasts for 2022. Block’s shares remain down by nearly 75% this year as investors cycle out of unprofitable fintech space. Layoffs, there has been a lot recently. Stripe is laying off roughly 14% of its staff, and Chime is cutting 12% of its workforce to reduce operational costs.
Among the factors driving the industry’s woes include growing dissatisfaction among merchants. Thousands of businesses have, at some point, experienced issues with fintech payment processors, particularly with fraudulent chargebacks and accounts frozen without explanation. According to the Federal Trade Commission, 16.6% of the fraud reports made involved a payment app or service like Paypal in 2020.
To make matters worse, some fintech payment processors are facing a growing backlash from accusations of financial censorship. In September, Paypal and Venmo were accused of shutting down the accounts of an LGBT organization.
More recently, Paypal updated its terms of service agreement to authorize a $2,500 deduction from a user’s account for engaging in what the company considers ‘misinformation’. This received a massive backlash on Twitter, which Paypal claimed to be an error, but only to add it back into its terms of service after the furore died down.
For those of you looking for an alternative to Paypal or Venmo or those others, those others are reporting transactions over $600 to the IRS.
These incidents highlight growing concerns over fintechs’ ability to arbitrarily deny users access to their money and may have further triggered a growing shift in attitudes towards the once-lauded services.
“Business incentives that may drive these institutions to shutter or limit accounts don’t align with the concerns of a society trying to promote diverse perspectives in an online world … We need a better alternative which protects our freedom of speech, and more importantly, our right to be in full control of our assets”, explained the Electronic Frontier Foundation (EFF) in a statement.
A New Breed of Payment Fintechs
Following the news of Paypal’s fines, Google searches for ‘delete Paypal’ and cancel Paypal’ surged by 1,392%, with thousands of users closing their Paypal accounts in protest.
As many businesses reconsider, or even close their accounts with legacy fintech apps like PayPal, many are turning instead to a new breed of payment fintech: crypto payment apps.
But, apart from censorship resistance, crypto payments are growing in popularity for cross-border payments. Unlike traditional payment processors like PayPal or credit card companies, cryptocurrency offers a direct peer-to-peer (P2P) payment system without any intermediary to process transactions, making it cheaper and faster. This has made crypto payments increasingly attractive to businesses, especially those operating globally.
Crypto payments are growing much faster than web2-based digital payments did in their time, despite arriving about nine years later. PayPal was launched in 1999 as the first widely-adopted digital payments platform. By 2014, it reported a total payment volume (TPV) of $235 billion, including payments made via its subsidiaries, Venmo and Braintree.
In roughly the same length of time since Bitcoin was introduced to the world as a “peer-to-peer version of electronic cash” in 2008, transaction volumes for stablecoins alone have blown past PayPal’s numbers. In just the last 24 hours, over $67 billion in various stablecoins changed hands, according to CoinMarketCap data.
Stablecoin payments not only offer simpler cross-border payments, but also a hedge against the devaluation of local currencies. USD-denominated stablecoins are especially popular in the current macroeconomic climate as local currencies weaken relative to the greenback.
Stablecoins also give businesses and their employees access to decentralized finance, or DeFi platforms like AAVE, which delivers much higher returns on their stablecoin holdings as compared to traditional bank deposits. “The objective of DeFi is for you to have complete custody of your own assets, complete control of your own assets, and to get more return on your money. By taking out the middleman, you get cheaper loans, and better deposit and insurance rates,” said Rajagopal Menon, the Vice President at the crypto exchange, WazirX in an interview.
Compared to high-yield savings accounts at traditional banks delivering between 2.5% and 3% by end of 2022, returns on USD-denominated stablecoins yield between 4% and 20% on DeFi protocols.
As a new generation of blockchain-powered applications offer cheaper, faster, fairer payments and better interest rates, the previous generation of fintech apps may find themselves struggling to remain relevant.
Fintech is in crisis. Paypal’s share price has fallen over 65% in the past year, and plunged over 25% earlier in February when the company released its weak revenue and profit forecasts for 2022. Block’s shares remain down by nearly 75% this year as investors cycle out of unprofitable fintech space. Layoffs, there has been a lot recently. Stripe is laying off roughly 14% of its staff, and Chime is cutting 12% of its workforce to reduce operational costs.
Among the factors driving the industry’s woes include growing dissatisfaction among merchants. Thousands of businesses have, at some point, experienced issues with fintech payment processors, particularly with fraudulent chargebacks and accounts frozen without explanation. According to the Federal Trade Commission, 16.6% of the fraud reports made involved a payment app or service like Paypal in 2020.
To make matters worse, some fintech payment processors are facing a growing backlash from accusations of financial censorship. In September, Paypal and Venmo were accused of shutting down the accounts of an LGBT organization.
More recently, Paypal updated its terms of service agreement to authorize a $2,500 deduction from a user’s account for engaging in what the company considers ‘misinformation’. This received a massive backlash on Twitter, which Paypal claimed to be an error, but only to add it back into its terms of service after the furore died down.
For those of you looking for an alternative to Paypal or Venmo or those others, those others are reporting transactions over $600 to the IRS.
These incidents highlight growing concerns over fintechs’ ability to arbitrarily deny users access to their money and may have further triggered a growing shift in attitudes towards the once-lauded services.
“Business incentives that may drive these institutions to shutter or limit accounts don’t align with the concerns of a society trying to promote diverse perspectives in an online world … We need a better alternative which protects our freedom of speech, and more importantly, our right to be in full control of our assets”, explained the Electronic Frontier Foundation (EFF) in a statement.
A New Breed of Payment Fintechs
Following the news of Paypal’s fines, Google searches for ‘delete Paypal’ and cancel Paypal’ surged by 1,392%, with thousands of users closing their Paypal accounts in protest.
As many businesses reconsider, or even close their accounts with legacy fintech apps like PayPal, many are turning instead to a new breed of payment fintech: crypto payment apps.
But, apart from censorship resistance, crypto payments are growing in popularity for cross-border payments. Unlike traditional payment processors like PayPal or credit card companies, cryptocurrency offers a direct peer-to-peer (P2P) payment system without any intermediary to process transactions, making it cheaper and faster. This has made crypto payments increasingly attractive to businesses, especially those operating globally.
Crypto payments are growing much faster than web2-based digital payments did in their time, despite arriving about nine years later. PayPal was launched in 1999 as the first widely-adopted digital payments platform. By 2014, it reported a total payment volume (TPV) of $235 billion, including payments made via its subsidiaries, Venmo and Braintree.
In roughly the same length of time since Bitcoin was introduced to the world as a “peer-to-peer version of electronic cash” in 2008, transaction volumes for stablecoins alone have blown past PayPal’s numbers. In just the last 24 hours, over $67 billion in various stablecoins changed hands, according to CoinMarketCap data.
Stablecoin payments not only offer simpler cross-border payments, but also a hedge against the devaluation of local currencies. USD-denominated stablecoins are especially popular in the current macroeconomic climate as local currencies weaken relative to the greenback.
Stablecoins also give businesses and their employees access to decentralized finance, or DeFi platforms like AAVE, which delivers much higher returns on their stablecoin holdings as compared to traditional bank deposits. “The objective of DeFi is for you to have complete custody of your own assets, complete control of your own assets, and to get more return on your money. By taking out the middleman, you get cheaper loans, and better deposit and insurance rates,” said Rajagopal Menon, the Vice President at the crypto exchange, WazirX in an interview.
Compared to high-yield savings accounts at traditional banks delivering between 2.5% and 3% by end of 2022, returns on USD-denominated stablecoins yield between 4% and 20% on DeFi protocols.
As a new generation of blockchain-powered applications offer cheaper, faster, fairer payments and better interest rates, the previous generation of fintech apps may find themselves struggling to remain relevant.
United Fintech Scores Sixth Backer Days After Barclays Deal
Featured Videos
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
