Hi from Berlin,
Welcome to this week's Embedded Payments edition. Before we dive in, I am currently working with a company that serves content creators around the globe. We are exploring global payout providers and potentially providers that also offer additional financial services for such a global customer base. If you or your company has a track record in this space (and I missed reaching out to you), feel free to ping me :-)
In this Embedded Payments edition: Ryft's £20m and the platform payments challengers, VaultN and Paysafe letting game retailers pay publishers at the moment of sale, ZYMIX's wallet with Mangopay, Serrala with TransferMate, Kolleno with Nuvei, Flatpay with Adyen and Mangopay's Echo. Also, two German payments events in November, and Dean Ranzenberger of Sport Alliance on why integrating a PSP is not enough.
Now let's dive in! 👇
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Embedded Payments News
Ryft raises £20m as platform specialists take on Stripe and Adyen: The Manchester payments provider for marketplaces and platforms is taking its Series B, led by Gresham House Ventures, into Europe and the US, and has applied for a payments licence in Malta to passport across the EEA. I used the round to compare Ryft with Rootline and Embed, three European challengers that build their product around what happens to the money after a payment is accepted. Stripe and Adyen cover the same flows, so I took a gym software platform as the example to show where I think the difference lies. (Read the full story)
VaultN and Paysafe let game retailers pay publishers when a key sells: The Amsterdam-based game distribution platform now runs payments inside the distribution flow itself. With VaultN Payments & Wallet, a retailer pays the publisher for each key when it sells, instead of waiting for invoices and reconciliation that can take weeks after a deal closes. Take-Two Interactive is among the first publishers on it. Skrill Business, Paysafe's payments platform, provides the regulated layer, which the release says is licensed across the EU/EEA, the UK and the United States. (Read the full story)
ZYMIX puts a wallet into its Gen Z super app, with Mangopay behind it: The UK social app for students launched nationwide on 28 September with a wallet that holds GBP and EUR, sends money between users and splits shared costs, such as event tickets bought through its Ticket Tailor integration. Mangopay, the Luxembourg e-money institution, runs the wallets, payments and identity checks. Expense splitting is common in fintech, but I don't know many social apps that back it with their own wallet. However, I am not sure topping up a wallet just to split costs is compelling enough. But then, I am also not Gen Z ;-) (Read the full story)
Serrala builds cross-border payments into its finance platform with TransferMate: The German finance automation vendor, used by more than 2,800 organisations, now lets finance teams initiate and process international payables inside its own platform instead of a separate bank portal. TransferMate, the Irish payments company with around 100 licences, sits behind it over an API as Serrala's exclusive payments provider. The integration starts with payables (execution, routing, FX and local settlement) and is already available to Serrala customers. (CFOtech)
Kolleno lets customers pay invoices without leaving its platform: The London-based order-to-cash software covers collections, disputes, cash application, and credit monitoring, and now embeds Nuvei's payment acceptance so invoices settle inside it. Nuvei brings reach in more than 190 markets and over 720 alternative payment methods, and the two companies say more than half of B2B invoices are paid late, partly because collection and reconciliation sit in different systems. Nuvei did something similar with BlackLine earlier this year, so finance software taking payment acceptance in-house is becoming a habit for Nuvei. (The Paypers)
Flatpay moves onto Adyen's licences across seven European markets: The Danish SMB payments company keeps the direct merchant relationships, while Adyen supplies local acquiring, international licensing and one processing platform with local card scheme integrations. According to Adyen's release, Flatpay serves more than 100,000 merchants across Denmark, Germany, Finland, the UK, France, the Netherlands and Italy, and was valued at €1.5bn in 2025. The interesting part is that Adyen's Embedded Finance suite is mentioned for instant settlement, cash advances, business accounts and card issuing for a later rollout. Since Flatpay is a Fintech, the partnership itself has no Embedded Finance angle strictly speaking; however, the deal is still relevant for Adyen's Embedded Finance teams. (Adyen)
Mangopay launches Echo for platforms running several PSPs: Platforms that route payments through more than one PSP keep those PSPs for acceptance, while Mangopay takes over what happens afterwards: reconciliation, wallet allocation, splits and payouts in one system. Chief product officer Andy Wiggan says it cuts operational costs while platforms keep choosing the PSPs that suit them, and Mangopay's own research cites 86% of enterprise platforms still reconciling manually. While this sounds like an interesting proposition, it moves a dedicated provider above the acceptance layer, and whether platforms want a second vendor for that layer is an open question in my opinion. (The Paypers)
Toast goes after convenience stores, starting at the pump: The US restaurant software company has launched Toast Fuel, which runs fuel payments in-store and at the pump on the same platform as retail and foodservice. Convenience stores sell an estimated 80% of the fuel US consumers buy, and Toast says many of them still run the shop and the pumps on two disconnected systems. Toast argues these stores increasingly work like quick-service restaurants, with made-to-order food, digital ordering, and loyalty. Thus, after restaurants and retail, convenience stores are the next vertical, with fuel as Toast's entry point. (Toast)