Worldline's Payment Services Disrupted Amid Black Friday Frenzy

Hey Payments Fanatic!

Worldline, the French digital payments giant, is grappling with a major network disruption in Italy caused by accidental damage to its data center connections during local gas pipe installations. The outage, hitting during the Black Friday rush, has left payment services offline since Thursday morning.

While primarily affecting Italy, the disruption also impacts some other markets. Worldline assured customers it’s working "tirelessly" to restore services and exploring temporary fixes while waiting for infrastructure repairs.

Italian payments firm Nexi confirmed the issue remains unresolved and has launched an investigation, hinting at potential actions to safeguard its operations. Meanwhile, the Bank of Italy is monitoring the situation, noting partial reactivation of payment services but ongoing glitches with some card networks.

Stay tuned—I'll be back with more updates tomorrow!

Cheers,

Marcel

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GOLDEN NUGGET

How do consumers pay in Latin America?

Here's a breakdown:

1️⃣ 𝗖𝗿𝗲𝗱𝗶𝘁 𝗖𝗮𝗿𝗱𝘀: Dominating with $240B in 2023, Visa, Mastercard, and American Express are prevalent across the region, with Brazil's Cartão Elo emerging rapidly.

2️⃣ 𝗣𝗜𝗫 𝗯𝘆 𝗕𝗮𝗻𝗰𝗼 𝗖𝗲𝗻𝘁𝗿𝗮𝗹 𝗱𝗼 𝗕𝗿𝗮𝘀𝗶𝗹: This instant payment system processed $80B in Brazil alone. PIX is the world's fastest-growing real-time payment method, with expansion plans for Argentina and Uruguay.

3️⃣ 𝗗𝗲𝗯𝗶𝘁 𝗖𝗮𝗿𝗱𝘀: Worth $50B, Visa, and Mastercard debit cards are popular, reflecting a preference for direct bank access and bridging cash and digital payments.

4️⃣ 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗪𝗮𝗹𝗹𝗲𝘁𝘀: Growing to $45B in 2023, with Mercado Pago, Ualá, MODO, Yape, and Nequi leading. These wallets offer features like peer-to-peer transfers and investment options, enhancing financial inclusion.

5️⃣ 𝗖𝗮𝘀𝗵 𝗩𝗼𝘂𝗰𝗵𝗲𝗿𝘀: Also at $45B, systems like Boleto Bancário, OXXO, PagoEfectivo, Pago Fácil, and Efecty are vital for unbanked populations, enabling e-commerce and bill payments.

6️⃣ 𝗕𝗮𝗻𝗸 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿𝘀: At $25B, players like SPEI, PSE, Khipu, and BROU are essential for high-value transactions, showcasing the coexistence of legacy and innovation in LatAm's financial ecosystem.

I highly recommend the complete deep dive article by Tony Cueva Bravo for more interesting info on this topic.

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