The news almost threatened to disappear in the week in which the German payment company Wirecard had to file for bankruptcy: Another European payment service provider, the British Checkout.com, is now valued at $ 5.5 billion – only Revolut and Klarna can Europe that also have this rating. There are no more valuable fintechs on the continent.
Checkout.com takes care of the complete payment processing between the cash register and the credit card network at online retailers. It serves a huge market that continues to grow. Statista forecasts growth from $ 3.6 trillion in 2018 to 6.7 trillion by 2023. And there is still a lot to be won: The two biggest players and main competitors of Checkout.com, Stripe and Adyen, only cover one to two percent of the market from.
What is Checkout.com up to and what role does Germany play in the strategy of fintech? You can read that today on Finance Forward, the new finance portal from Personal-Financial.com and OMR. You can register for the daily newsletter here.