Tagged: digital payments

May 11, 2020 @ 9:57 pm By Omar Faridi  |  

India-based digital bank RazorPay announced on May 11, 2020 that it’s planning to recruit more staff members for key positions across its engineering and product design teams. As previously reported, the banking challenger had revealed that there had been a significant increase in the number… Read More

May 10, 2020 @ 6:22 pm By Omar Faridi  |  

PT Cashlez Worldwide Indonesia, which is reportedly the nation’s first Fintech payment company to be publicly listed, saw its share price increase from Rp 350 (appr. $0.23) to Rp 384 within minutes after trading began on the Indonesia Stock Exchange (IDX). Cashlez said it will… Read More

May 10, 2020 @ 1:32 pm By Omar Faridi  |  

Paytm Payments Bank, a new type of bank, licensed by the Reserve Bank of India (RBI) as a payments service provider, recently revealed that it has surpassed INR 600 Crores (appr. $79.4 million) in fixed deposit (FD) accounts, which have been maintained through a partnership… Read More

May 9, 2020 @ 1:01 pm By Omar Faridi  |  

India-based digital payments platform Simpl has reported a significant increase in transaction volume for online orders of daily essentials. The company claims there has been a 30-35% increase in the number of transactions involving the purchase of essential items. The change in consumer spending habits… Read More

May 8, 2020 @ 7:48 am By Omar Faridi  |  

Revenues from Fintech are expected to increase from $150 billion in 2018 to $500 billion by 2030 at an average annual growth rate that’s about 3x faster than the larger financial industry’s projected revenue growth, according to a recent report from UBS. The report notes… Read More

May 8, 2020 @ 7:46 am By Omar Faridi  |  

Sweden-based banking challenger Rocker has reportedly chosen Enfuce, a Finland-headquartered Fintech firm, as its official card issuing and payment processing partner. The move should streamline processes involving the issuance of Visa prepaid cards. The news has come after Rocker (previously operating as Bynk) introduced a… Read More

May 6, 2020 @ 9:43 pm By Omar Faridi  |  

Fintech firm Nium revealed on May 5, 2020 that it had managed to secure a new round of equity funding. The company’s round received contributions from new investors BRI Inventures, the corporate venture division of Bank BRI of Indonesia, and payments giant Visa. Nium’s latest… Read More

May 5, 2020 @ 7:56 am By Omar Faridi  |  

  Touch-free shopping and contactless payments are being increasingly adopted by consumers across the globe, in order to prevent the further spread of the deadly Coronavirus. Many consumers have been trying to avoid ATMs that require users to manually enter their PINs, according to a… Read More

May 4, 2020 @ 12:20 pm By Samantha Hurst  |  

Safaricom, a Kenya-based telecom company and operator of M-Pesa, announced last week it has formed a new partnership with Visa (NYSE: V) to enable the development of products that will support digital payments for M-PESA customers. M-Pesa is a mobile banking service that allows users… Read More

May 3, 2020 @ 10:35 pm By Omar Faridi  |  

Cambodia’s Fintech sector is still not as mature and developed as its ASEAN neighbors which include major economies such as Singapore, Malaysia, and Indonesia (among others). However, Cambodia’s Fintech economy has been growing steadily, mainly due to the increased adoption of digital payments and the… Read More

May 2, 2020 @ 10:28 am By Omar Faridi  |  

Magyar Nemzeti Bank (MNB), the reserve bank of Hungary, has released its very first Fintech and Digitalization Report, which looks into the state of financial technology adoption and the level of digitalization across the nation’s banking ecosystem. The report revealed that there are at least… Read More

May 1, 2020 @ 10:22 pm By Omar Faridi  |  

Bengaluru-based Digital Bank RazorPay reports that there has been a significant increase in the number of digital payments, following the Coronavirus (COVID-19) outbreak. RazorPay notes in its recent report that only a month into the nationwide lockdown in India, there has been a noticeable shift… Read More

May 1, 2020 @ 9:56 pm By Omar Faridi  |  

The Gulf Cooperation Council (GCC), an intergovernmental political and economic union consisting of the Arab states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, is expected to experience a significant increase in the use of Fintech platforms and services. The anticipated… Read More

May 1, 2020 @ 2:58 pm By Omar Faridi  |  

Uruguay-based dLocal, a Fintech firm focused on facilitating international transactions, has reportedly added Google Pay as one of its local payment options. As mentioned on dLocal’s official website: “dLocal [aims] to close the payments innovation gap that exists between developed countries and emerging economies. We… Read More

May 1, 2020 @ 8:30 am By Omar Faridi  |  

American Fintech Ripple’s On-Demand Liquidity (ODL) payments network has reportedly managed to triple its transaction volumes during Q1 2020. San Francisco-based Ripple’s XRP Markets Report confirms that the dollar value transacted using the company’s ODL service grew by over 294%, which may be a positive… Read More

April 30, 2020 @ 9:56 pm By Omar Faridi  |  

WhatsApp Payments, an in-chat payment feature that lets customers perform transfers through the messaging app to anyone in their contact list, has not achieved mainstream adoption in India. The UPI-based payments service lets users send and receive funds. It has been created by the National… Read More

April 30, 2020 @ 8:56 pm By Omar Faridi  |  

Eftpos (electronic funds transfer at point of sale) Australia confirmed that it will begin running pilots of a mass-market digital identity service, which is reportedly backed by the nation’s leading banks and merchants. According to a document submitted to the Australian government’s Select Committee on… Read More

April 28, 2020 @ 11:52 pm By Omar Faridi  |  

SadaPay, an Islamabad-based Fintech firm, has reportedly been given in-principle approval by the State Bank of Pakistan, or SBP (the nation’s central bank). for an electronic money institution (EMI) license. SadaPay confirmed that the approval will allow it to provide certain financial services through its… Read More

April 27, 2020 @ 9:18 pm By Omar Faridi  |  

In the South American country of Argentina, where most people prefer to make cash payments, a strict nationwide lockdown (due to COVID-19) has forced local consumers into considering digital banking and online payments options. Before the Coronavirus-related lockdown went into effect on March 20, 2020,… Read More

April 26, 2020 @ 9:23 am By Omar Faridi  |  

San Francisco-based AppsFlyer, a software-as-a-service (SaaS) mobile marketing analytics and attribution platform, reports a 22% increase in in-app purchases during the past two weeks. This, as US residents have begun to rely even more on their mobile devices while being stuck at home due to… Read More