Electronic Payments International has listed five of the companies that trended the most in Twitter discussions related to payments tech, using research from GlobalData’s Banking and Payments Influencer platform.
The top companies are the most mentioned companies among Twitter discussions of more than 146 payments tech experts tracked by GlobalData’s Banking and Payments Influencer platform during the second quarter (Q2) of 2022.
Companies trending in payments tech discussions: The top five
1. Coinbase Global Inc – 163 mentions
Coinbase wallet becoming the most downloaded mobile self-custody wallet in the US, and 46 having purchased a combined $17.3m worth of tokens that were listed shortly after on Coinbase, COIN -1.88% Binance and FTX, were some of the popular discussions in Q2.
Brian Armstrong, CEO of the cryptocurrency trading platform Coinbase, tweeted on Coinbase having come a long way. It is also the most downloaded mobile self-custody mobile wallet in the US, he added. In addition, nothing needs to be migrated to use it, and the same seed phrase can be used across multiple wallets. For example, thousands of tokens can be accessed with the help of live price charts, together with seamless DEX trading that is powered by the Oxproject application programming interface (API).
Armstrong further added that the wallet had the best-in-class multi-chain support and the unified asset view made it easy to manage crypto and non-fungible tokens (NFTs) across all supported networks. The wallet also supported Solana and Spl tokens apart from Ethereum and EVM-compatible networks, while offering the best NFT experiences on both mobile and extension.
Coinbase Global Inc (Coinbase) is a cryptocurrency trading platform that was established in 2012. The platform allows users to buy and sell Bitcoin across a network of more than 100 countries, 245,000 ecosystem partners, and 14,500 institutions.
2. Mastercard Inc – 131 mentions
Galileo and Mastercard partnering to accelerate digital transformation in Latin America and the Caribbean, the company empowering open banking start-ups to scale and grow, and Mastercard filing 15 NFT and metaverse trademark applications with the US Patent and Trademark Office (USPTO), were popularly discussed in the second quarter.
Alex Jiménez, a financial services consultant, shared an article on Galileo Financial Technologies, a subsidiary of SoFi Technologies and the financial services company Mastercard introducing a multilayer strategic alliance focused on speeding up digital transformation and enhancing access to financial opportunities for underserved and unbanked sections of Caribbean and Latin Americas. The collaboration is expected to enable Latin American fintechs and issuers to create and implement digital financial services using the capabilities of both the companies, the article noted.
Tory Jackson, Galileo’s director of development and strategy commercial for Latin America, stated that financial inclusion it at the core of the partnership, with Latin Americans’ high levels of digital adoption likely to engage them in more solutions that reduce their dependence on cash, the article detailed.
Mastercard Inc (Mastercard) is a payment and technology company headquartered in Purchase, New York, the US. The company offers a wide range of payment solutions for debit, credit, prepaid, and commercial cards; digital payments, real-time account-based payments, and payment system security; transaction services such as cross-border and domestic transactions. Mastercard also offers value-added services, such as loyalty and rewards and advisory services.
3. PayPal Holdings Inc – 116 mentions
A 256% surge in PayPal’s buy now, pay later (BPNL) volumes, the company’s recent move to allow transfers from its cryptocurrency walled garden, and Lending Club, PayPal results revealing that consumers are adopting credit alternatives amid increasing rates, were some of the popular discussions in Q2.
Chris Gledhill, a fintech futurist, shared an article on a 256% surge in the financial technology company, PayPal’s BNPL volumes. The article highlighted that the redesigned PayPal wallet has now been installed by over 50% of the company’s base, and digital wallets have been associated with a 25% transaction lift compared to other users. Additionally, active accounts increased 9% to 429 million, while the transaction volume increased 18% to 5.2 billion, despite a decline in e-commerce retailer eBay’s transactions by 54%. On the other hand, transactions per active account increased by 11% to 47 transactions, the article noted.
In terms of BNPL, the company stated that it reported volumes worth $3.6bn in the first quarter, with almost 18 million customer accounts choosing this funding option since its launch. Additionally, about 70% of those users used the BNPL option through the company’s digital wallet, the article detailed.
PayPal Holdings Inc (PayPal) is a technology platform and digital payments company headquartered in San Jose, California, the US. It offers technology and payment solutions that facilitate mobile, in-app, and online payments for consumers and merchants. Additionally, the company provides other value-added services like working capital and short-term business financing, invoicing, and gateway services, and also peer-to-peer (P2P) payment solutions.
4. Apple Pay Limited – 77 mentions
The European Union (EU) calling Apple’s mobile payment service Apple Pay anticompetitive, and the company’s Apple Pay Later offering making BNPL players try new tactics to lure customers, were popular topics of discussion in the second quarter.
Patricia Hewitt, creator of PG (Paymentgal) Research & Advisory Services, an independent research and consulting firm, shared an article on the EU accusing the technology company Apple of excluding competitors from using its Apple Pay mobile payment system. The EU issued a formal Statement of Objections with the preliminary finding that the company misused its leading position in mobile wallets on iOS.
The ruling followed accusations last year that the company wrongfully penalised competing music streaming services, the article detailed. The EU has the authority to issue fines of up to 10% of Apple’s global $36bn revenue, and also compel it to change its business practises. According to the EU, this exclusionary behaviour of Apple leads to less innovation and choice for mobile wallet users on iPhones, while it is just the first formal stage of antitrust proceedings against the company, the article further noted.
Apple Pay Limited is a mobile payment solution developed by Apple, which is headquartered in Cupertino, California, the US. The service allows customers to make transactions on the web and in iOS apps. It is supported on Apple’s devices, including Mac, iPad, iPhone, and the Apple Watch.
5. Solana – 68 mentions
Solana committing $100m to support South Korean crypto projects, the company’s launch of its web3-focused mobile app, and OpenSea going live with its long-expected integration of Solana, were some of the popular discussions in Q2.
Spiros Margaris, a board member at the venture capital firm Margaris Ventures, shared an article on the crypto start-up committing $100m to support South Korean crypto projects, as part of its strategy to enter a developer market still faltering from the collapse of the Terra ecosystem, a blockchain protocol and payment platform. The fund was created by Solana Ventures and the Solana Foundation to focus on virtual gaming and to invest in NFT and decentralised (DeFi) projects, the article highlighted.
The new funding put Solana in direct competition with other smart platforms, such as Polygon and Avalanche, all racing for Korea’s trove of bereaved crypto developers. Austin Federa, the head of communications for the Solana Foundation stated that the Solana funding will be distributed across Web3 projects, with a key focus on strengthening Korean blockchain gaming developers, the article further detailed. The east Asian’s country’s gaming industry was valued at more than $15bn in 2021, while Solana was looking at tapping into that potential for crypto games.
Solana is a blockchain trading platform that develops crypto apps for decentralised apps and marketplaces. The start-up was founded in 2018 and is based out of San Francisco, California, the US.