Tagged: digital payments

August 12, 2020 @ 11:22 am By Omar Faridi  |  

London-based Fintech firm Vitesse, which enables real-time cross-border payments, revealed on August 11, 2020 that it has secured £6.6 million in capital through a Series A investment  round. The firm’s funding round was led by Octopus Ventures. Existing shareholders Hoxton Ventures and several other angel… Read More

August 11, 2020 @ 8:50 pm By Omar Faridi  |  

NetCents Technology Inc (CSE:NC) (FSE:26N) has reportedly joined Visa’s Fintech Fast Track Program in order to enhance its payments platform. NetCents is a digital currency payments technology firm that will now be offering a Visa payment card to customers in the US and Canada. Like… Read More

August 11, 2020 @ 9:42 am By Omar Faridi  |  

Facebook Inc. (NASDAQ:FB), which currently has a market cap of around $750 billion, employs over 52,000 workers, and generated over $70 billion in revenue last year, has introduced a new group to focus on payments and digital commerce opportunities. David Marcus, the co-creator of the… Read More

August 10, 2020 @ 11:49 am By Omar Faridi  |  

Clear Books, which offers accounting and payroll software to more than 13,000 SMEs, has teamed up with payment processing company, Stripe. The integration should make it easier or more seamless for Clear Books customers to take card payments, which means that businesses will be able… Read More

August 9, 2020 @ 2:52 pm By Omar Faridi  |  

One Inc, a provider of digital payment platforms for the insurance sector, recently revealed that it has acquired Invenger Technologies, Inc., which includes its online claims payment product, Invenger-InsurPay. Karen Furtado, partner at Strategy Meets Action, said that the acquisition of Invenger, including the digital… Read More

August 9, 2020 @ 12:00 pm By Omar Faridi  |  

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, is reportedly open to exploring potential investment deals from Qatar. According to a BSP representative, these deals will focus on digital banking and Fintech projects. Arifa A Ala, the MD at BSP, noted that… Read More

August 7, 2020 @ 10:11 pm By Omar Faridi  |  

The Reserve Bank of India (RBI), the nation’s central bank that controls the issue and supply of the Indian rupee, is reportedly working on an offline digital transactions pilot, in order to get more consumers in rural areas, without internet connections, to adopt virtual payments…. Read More

August 7, 2020 @ 8:35 pm By Omar Faridi  |  

The Fintech sector managed to secure more funding, globally, during Q2 2020 than it did during the first quarter of the year, according to a recent report from CB Insights. The report noted that the Fintech industry in all major world regions, except for Asia,… Read More

August 7, 2020 @ 10:29 am By Omar Faridi  |  

The US Federal Reserve, which is the central banking system of the country, has reportedly been working on a new real-time payment and settlement system, called FedNow. Governor Lael Brainard claims that the Fed plans to have FedNow fully operational as soon as possible. Brainard… Read More

August 7, 2020 @ 8:21 am By Omar Faridi  |  

The global payment industry and ecosystem has been growing steadily. The sector is projected to be valued at $2.7 trillion by 2023. Some of the challenges faced by the payment industry include high transaction fees, inefficient cross-border transactions, poor or lack of interoperability between different… Read More

August 7, 2020 @ 1:52 am By Omar Faridi  |  

UOB Indonesia has introduced TMRW, its virtual bank to serve the local market as part of its strategy to accelerate growth of its business operations in the region. The launch of the digital bank has come after UOB established its business in Thailand in 2019…. Read More

August 7, 2020 @ 12:47 am By Omar Faridi  |  

Poland’s mPay has teamed up with iDenfy to use its biometric facial recognition software, (selfie) liveness detection, and ID verification tech, in order to take care of its Know Your Customer (KYC) compliance checks for processing mobile payments. The mPay app allows users to conduct… Read More

August 5, 2020 @ 11:06 pm By Omar Faridi  |  

Approximately $1.47 billion was invested into businesses operating in the Fintech sector in India between January to June 2020, according to the latest MEDICI Report covering Indian financial technology markets. The amount invested into India’s Fintech industry during H1 2020 was 60% greater than the… Read More

August 5, 2020 @ 2:08 pm By Samantha Hurst  |  

Finexio, a U.S.-based fintech that offers a comprehensive accounts payable payments-as-a-service solution, announced on Monday it has formed a new partnership with B2B order-to-cash solutions provider Billtrust to provide faster digital payments to its suppliers and support the continued growth of its supplier network. According… Read More

August 5, 2020 @ 9:19 am By Samantha Hurst  |  

Afterpay, a digital platform that offers interest-free installment plans for online purchases, announced on Wednesday its new global look, feel and positioning, which captures the power and value enabled by the platform at a time of incredible growth for the business and its customers. While… Read More

August 4, 2020 @ 7:39 am By Omar Faridi  |  

San Francisco based Fintech firm Ripple has released its quarterly XRP Markets Report. The company notes in its report, that as an XRP holder, Ripple “believes proactive communication and transparency are part of being a responsible stakeholder.” During Q2 2020, total XRP sales were valued… Read More

August 3, 2020 @ 10:11 pm By Omar Faridi  |  

Ian Bradbury, CTO for Financial Services, Fujitsu UK, has surprisingly claimed that the COVID-19 outbreak has “changed very little” when it comes to the Fintech and the larger financial sector, in general. He argues that the financial industry’s digital and systemic transformation had already begun,… Read More

August 2, 2020 @ 10:32 pm By Omar Faridi  |  

Fintech firm EML Payment Ltd (ASX: EML) aims to significantly reduce plastic consumption by the weight of 56 elephants, 10 humpback whales, 1,250 lions, and the height of 5,000 giraffes across the company’s global portfolio within the next three years. EML’s “Change for Good” Initiative… Read More

August 2, 2020 @ 10:15 pm By Omar Faridi  |  

UK-based Fintech and stealth bank TransferWise recently revealed that it has taken an “exciting” step towards modernizing and streamlining global banking in Asia. The company confirmed that it has brought TransferWise for Banks, its “bank-friendly” API integration, to Asian markets, allowing financial institutions to surface… Read More

August 2, 2020 @ 9:59 pm By Omar Faridi  |  

Blockchain security firm CoolBitX is focused on developing the infrastructure to bridge the gap between mainstream financial institutions and the nascent crypto-asset sector. On July 30, 2020, CoolBitX revealed that it has teamed up with BitPay, the leading provider of cryptocurrency payment services. As mentioned… Read More