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J.P. Morgan Payments has expanded its services through partnerships with Walmart and Affirm, enhancing its embedded finance solutions for Walmart Marketplace sellers. This integration allows businesses to manage payments seamlessly while Affirm's pay-over-time options will be available to U.S. merchants using J.P. Morgan's platform, offering consumers flexible repayment plans. These moves position J.P. Morgan and its partners to compete effectively in the evolving retail and BNPL markets.
Marqeta's shares plummeted over 30% after the company issued disappointing fourth-quarter guidance, projecting revenue growth of only 10% to 12%, below analysts' expectations of over 17%. Despite a 30% increase in total processing volume to $74 billion, the firm continues to struggle, with its stock down more than 80% since its 2021 IPO. CEO Simon Khalaf highlighted the company's efforts to enter the buy now, pay later market with the launch of Marqeta Flex, aiming to enhance payment processing and fraud detection.
Chrysalis Investments Ltd has raised its valuation of Klarna to £120.6 million, up from £100.3 million in the previous quarter, as the fintech prepares for a potential IPO next year. This adjustment implies an overall valuation of approximately $14.6 billion, according to Deutsche Bank AG analysts.
Klarna has emerged as the leading fintech unicorn in Europe for spawning new startups, with 62 companies founded by its alumni, surpassing rivals like Revolut and Wise. Despite recent layoffs and a hiring freeze, Klarna's size and innovative work culture position it as a fertile ground for entrepreneurial talent. The trend reflects a broader "flywheel effect" in Europe's fintech sector, where experienced professionals are increasingly launching their own ventures.
The EU has established a €90 billion investors club to address the technology funding gap, with 71 investors including Atomico, EQT, and state-backed entities like Bpifrance and Invest-NL. A recent report highlights Europe's struggle to scale tech compared to the U.S. and China, marking it as a significant long-term challenge.
Klarna AB
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j p morgan payments partners with walmart and affirm to enhance services
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16:24 25.03.2025
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09:00 22.10.2024
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