June 7, 2024

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payever’s key takeaways at Money20/20 Europe 2024 in Amsterdam

payever, a payments-first company for businesses, attended Money20/20 Europe 2024, held from the 4th to the 6th of June in Amsterdam. This event provided valuable opportunities for payever to connect with current and potential partners like Stripe, PagoNxt, and Token.io.

Money20/20 Europe 2024 is the leading event for the global finance ecosystem, bringing together leaders in tech industries to explore new ideas, discuss the evolving business landscape, secure funding, and expand networking opportunities. Often called “Fintech’s Greatest Show”, this event features acclaimed speakers from finance, tech, and politics. 

Among the notable speakers of this year’s lineup was the former French president, François Hollande, who reflected on his contributions to financial policy during his tenure and discussed how political challenges could impact the fintech industry going forward.

Fintech resilience despite market challenges

One of the key themes at Money20/20 Europe 2024 was the continued optimism within the fintech industry amidst significant challenges. According to McKinsey, capital funding for fintechs has dropped by 75% since 2021, with total funding reaching $9 billion in the first quarter of 2024, down from $41 billion in the same period in 2021.

Despite the decline, McKinsey highlighted that year-to-date funding figures for the first quarter of 2024 remained stable compared to the last three quarters of 2023. This optimism is also driven by growing interest in B2B payments, an area with significant untapped potential, showcasing how Money20/20 Europe brought together regulators, banks, platforms, merchants, and fintechs exploring ways to unlock this potential.

B2B fintech growth in focus

While fintech innovation initially focused on B2C solutions like P2P payments, mobile banking, and personal finance management, the year’s event highlighted the growing significance of B2B fintech solutions. According to McKinsey’s report, successful fintech business models are scaling well after exploring niche opportunities to grow into robust domains, particularly in the B2B sector.

Furthermore, FXC Intelligence reported increasing engagement with fintech infrastructure, including topics related to payments rails. This sparked a growing interest in real-time payment solutions, including in the B2B space.

Money20/20 Europe 2024 underscored how B2B fintechs continue to expand. This presents payever with new opportunities to support businesses of all sizes and industries to integrate seamless payment solutions. In addition to B2C solutions, payever’s API facilitates a flexible B2B payment method through its partnership with Allianz Trade.

Growing focus on open banking

Another major talk in Money20/20 Europe 2024 was open banking. This topic earned its dedicated session on day two where banks, providers, and merchants from around the world gathered to bring it back into the spotlight.


The consensus was that 2024 will be a significant year for open banking or Pay by Bank, with a recent report highlighting the rising trend of consumer adoption over the past 12 months. The trend emphasized customer awareness on open banking and their preference to use it. 


Furthermore, encouraging merchants to embrace and integrate Pay by Bank into their payment stacks has become a priority by implementing APIs to direct instant payments from a customer’s bank account. In addition, providers can offer Pay by Bank to merchants with little to no intermediaries or interchange fees, offering it as an enticing option when card transaction fees continue to rise.

Key takeaways from Money20/20 2024 in Amsterdam

Fintech resilience despite funding challenges – Fintech funding has dropped 75% since 2021, reaching $9 billion in Q1 2024. However, the funding has stabilized compared to 2023, with B2B payments driving optimism in the sector.

B2B fintech growth and innovation – There has been a shift from B2C solutions to B2B fintech infrastructure, with real-time payments and fintech infrastructure gaining traction.

Open banking on the rise – Open banking solutions are enjoying the growing consumer adoption and merchant interest. With lower transaction fees, merchants are encouraged to embrace this payment option.

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