Today In Payments Around The World: Klarna Registers Strong US Growth; Careem Debuts Commission-Free Model For Eateries

In today’s top payments news around the world, Swedish buy now, pay later (BNPL) upstart Klarna is experiencing record U.S. growth, while Careem is introducing a commission-free model to help restaurant partners. Plus, new strains of the coronavirus could put the recovery of the air travel vertical at risk.

Buy Now, Pay Later Startup Klarna Posts Record US Growth

Klarna, the Swedish online shopping payments platform, is experiencing uninterrupted expansion, with blockbuster growth in new users, retail collaborators and app downloads. Over 1 million new U.S. users have come onto the platform each month as of October 2020. Klarna was among the top 10 most downloaded shopping apps in the U.S. in Q4 2020, according to a press release that cited Apptopia.

Dubai’s Careem Introduces Commission-Free Model For UAE Restaurants

Careem, the food delivery and ride-hailing upstart, is debuting a commission-free model to assist in its restaurant partners in the United Arab Emirates (UAE) area. The move is meant to help local restaurants mitigate some of the negative economic effects brought about by the coronavirus pandemic.

IATA: Virus Spikes Endanger Air Travel’s 2021 Rebound

New versions of COVID-19 could put the recovery of the aviation travel sector at risk. The International Air Transport Association (IATA) says passenger traffic could only end up improving by just 13 percent in contrast to last year in the least positive scenario. A formidable pent-up demand for travel exists, as per IATA Chief Economist Brian Pearce, but that could be held back by the travel limitations appearing in response to new versions of the coronavirus.

Chinese Regulators, Ant Group Agree On Restructuring Plan for FinTech

Regulators in China have come to an agreement with Jack Ma and his Ant Group that would transform the FinTech into a financial holding company. As a result, Ant will run under regulations similar to banks, with the inclusion of more stringent capital requirements. Alibaba Group, which Jack Ma established in 1999, owns roughly one-third of Ant.