Today in Europe, the Middle East and Africa (EMEA), the latest PYMNTS report draws on the insights of Gerhard Bösch, the chairman of Ukraine’s PrivatBank, which has survived multiple branch bombings and a series of cyber attacks over the past six months. In other EMEA news, EU antitrust regulators have been asking app developers about Google’s Play Store.
EU Asks Developers About Google App Payments, Report Says
Antitrust regulators in the EU have asked app developers about a threat from Google to cut apps out of its Play Store if they used other payment options, Reuters reported yesterday.
Google said earlier in the year that companies using another billing system would be removed from its app store by June this year.
Critics of big tech app store monopolies argue that the terms enforced by ecosystem gatekeepers are anticompetitive.
Regulators questioned developers over whether the policy change from Google hurt the distribution of their goods and services on Google Play, what apps had been affected and if the changes had affected their ability to acquire users on Android phones and devices.
Pomelo Pay CEO: B2C Payments Have Raised the Bar for B2B
These days consumers demand a convenient and hassle-free checkout experience, whether online or in-store.
In Europe, that means that physical retailers need to offer whichever contactless payment methods are popular in their local market, either NFC- or QR-code based. For online stores, there are even more options to consider, with the bar now set at a seamless one-click checkout that supports multiple digital wallets and buy now, pay later (BNPL) options.
Yet in the parallel world of business-to-business (B2B) payments, the same high standards for speed and variety are not nearly as widespread. It doesn’t mean, however, that there isn’t a demand for better solutions. In a recent interview with PYMNTS, Vincent Choi, CEO of Pomelo Pay, discussed this, and other issues affecting the payments industry.
NEW REPORT: Ukraine Banker Says Fast Digital Payments Critical in Times of Crisis
On Friday (Aug. 5), PYMNTS published a new report, “The SMB Guide to Navigating Black Swan Events: Managing Risk By Accelerating Innovation,” in collaboration with Payoneer.
The report examines the role of payment innovation in managing risk and building long-term business resilience, especially for small- to medium-sized businesses (SMBs).
It finds that accelerating the digital transformation of payment systems is more important than ever in the face of market uncertainty and a tumultuous politico-economic background.
The latest report features an interview about the challenges of managing risk in times of uncertainty with Olha Prykhno, chief operating officer and chief financial officer at Ukraine-based global digital transformation technology company Innovecs. Gerhard Bösch, chairman of Ukraine’s national bank PrivatBank, also contributed.
Selecta: Strong H1 Results Drive Shift From Vending Machines to NextGen Autonomous FoodTech
Swiss FoodTech company Selecta used the presentation of its first half (H1) 2022 results on Wednesday (Aug. 3) to announce its new ESG targets, built around the four pillars of protecting the environment, creating healthy and sustainable products, maintaining a sustainable supply chain and being a responsible employer.
The announcement came as the European unattended self-service retailer reported net sales of €574.9 million, a 16.7% increase compared to H1 2021, and pretax earnings of €98.3 million, up 19.7% year over year (YoY).
Besides a strong first half in terms of revenue growth, the company stated that it is on course to achieve a carbon-neutral coffee supply chain by the end of 2025 and reach net zero carbon emissions by 2030. The group also said it intends to have 100% recyclable coffee packaging by that same year.
Selecta also laid out a detailed roadmap for the electrification of its logistics fleet and the implementation of the efficiency-boosting technologies that it groups under the terms “telemetry” and “telematics.”
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