Tagged: digital payments

February 28, 2020 @ 2:15 pm By Omar Faridi  |  

Bengaluru- based PhonePe, a company owned by the world’s largest retail company Walmart, has acquired INR 4.27 billion (appr. $60 million) in capital from its Singapore-headquartered parent firm – as confirmed by the Registrar of Companies filings and several media reports.  According to documents sourced… Read More

February 27, 2020 @ 9:20 pm By Omar Faridi  |  

An increasing number of Indian consumers are making digital payments at metros and also at stores in small towns. India-based SBI Cards, a major payment solution provider, is reportedly planning to raise approximately $1.4 billion via an initial public offering (IPO) which would be the… Read More

February 25, 2020 @ 7:08 am By Omar Faridi  |  

WeChat Pay is planning to expand its operations and services in the United Arab Emirates (UAE), after an agreement was finalized between Tencent Holdings and UAE-headquartered solutions developer Network International. Merchants that use Network International in the UAE will soon have the option to set… Read More

February 24, 2020 @ 7:55 am By Omar Faridi  |  

India-based digital payment giant Paytm says it hopes to become profitable in the coming years  as it plans to develop a new business strategy. Vijay Shekhar Sharma, the 41-year-old billionaire founder and CEO at Paytm, who leads One 97 Communications, the parent firm of Paytm,… Read More

February 22, 2020 @ 9:58 am By Omar Faridi  |  

Digital asset exchange Bitso managed to capture a little more than 2% of the remittance market from the United States to Mexico in 2019 and now aims to gain a 20% market share by the end of this year. Established in 2014, Bitso experienced significant… Read More

February 20, 2020 @ 11:21 pm By Omar Faridi  |  

India-based Paytm, an established payment gateway, has teamed up with ride-hailing app Uber in order to add credit and debit processing and will allow customers to easily perform card transactions. Uber will use the existing digital wallet integration with Paytm’s platform to offer riders a… Read More

February 19, 2020 @ 3:18 pm By Omar Faridi  |  

UK-based Fintech company Axept has unveiled a Strong Customer Authentication (SCA) compliant payment method, which uses contactless payments cards for settling e-commerce transactions. Axept’s new solution does not require users to type in their card details, usernames, passwords or sign up while purchasing items. If… Read More

February 17, 2020 @ 12:47 pm By Omar Faridi  |  

Ant Financial, an affiliated company of the Chinese Alibaba Group, is reportedly running the first international blockchain-powered payment service in Pakistan. This is a major milestone in the Asian nation’s journey to enable greater financial inclusion. Ant Financial is notably the world’s highest-valued Fintech firm,… Read More

February 17, 2020 @ 11:31 am By Omar Faridi  |  

Global money transfer service provider MoneyGram has introduced a new service that lets users send payments in real-time, however, the new platform notably doesn’t involve the company’s business partner Ripple (which acquired $30 million in MoneyGram shares at a high premium last year). MoneyGram’s management… Read More

February 14, 2020 @ 2:46 am By Omar Faridi  |  

Bengalaru-based Innoviti, a payment technology developer, has confirmed that it’s updating its “self-healing” technology, which is supported by dual-SIM cards across retail point-of-sales (PoS) terminals in India.  Innoviti’s latest technology has been developed to de-risk the processing of payments made at PoS terminals that are… Read More

February 13, 2020 @ 1:41 pm By Samantha Hurst  |  

Santander announced on Thursday it has appointed Trish Burgess as its new Head of Peer-to-Peer Payments. Santander reported that the appointment supports the bank’s commitment to providing customers with “best-in-class payment solutions” as part of its digital transformation. According to Santander, Burgess joins the Santander team… Read More

February 12, 2020 @ 8:40 pm By Omar Faridi  |  

Small and medium-sized enterprise (SME) platform Xero has reportedly made a new technology integration with Square’s software in Australia, in order to allow users to make instant payments of small-business invoices. The new feature will allow small and medium-sized businesses (SMBs) using Square’s platform to… Read More

February 12, 2020 @ 9:41 am By Samantha Hurst  |  

Digital payments company Payoneer announced on Wednesday it not only opened a new office Dublin, it has also been authorized as an Electronic Money (e-money) institution by the Central Bank of Ireland (CBI). Payoneer claims its the twelfth company to be granted the license. Founded… Read More

February 11, 2020 @ 2:02 pm By Samantha Hurst  |  

Castlery, a direct to consumer furniture store from Singapore, is now accepting in-person and online payments with payment platform Stripe. According to Stripe, Castlery sold its products online, and soon after ventured into offline retail with physical showrooms. “Handling both online and offline payments was… Read More

February 10, 2020 @ 1:51 am By Omar Faridi  |  

London-headquartered Paysend, an international funds transfer company, has confirmed the launch of its money transfer services in Australia. Paysend’s services can now be used in the $1.3 trillion economy to send funds to companies located abroad. The firm said that China, India, and Vietnam are… Read More

February 9, 2020 @ 10:20 pm By Samantha Hurst  |  

SafetyPay, a U.S.-based digital payments platform, announced last week it has teamed up with financial AI crime platform Feedzai to offer extra protection against fraud risk to its customers. Founded in 2007, SafetyPay notably provides a secure e-payment method that enables cash sales through a… Read More

February 5, 2020 @ 9:05 pm By Omar Faridi  |  

Bank of Maharashtra (BoM), a small public sector Indian bank and lender, reportedly topped the list of all the country’s banking institutions for digital transactions performed in December of last year. This, according to India’s Ministry of Electronics and Information Technology (Meity). Meity data shows… Read More

February 3, 2020 @ 11:00 pm By Omar Faridi  |  

Ajay Banga, CEO at payments giant Mastercard, recently talked about why his company decided to leave the controversial Facebook-led Libra global payments and stablecoin project. Banga claims his firm doesn’t quite understand Libra’s business model. He told the Financial Times: “When you don’t understand how… Read More

February 3, 2020 @ 3:51 pm By Omar Faridi  |  

The fourth quarter of 2019 saw Russia’s citizens perform more digital payments than transacting with cash (for the first time ever), state-owned Sberbank confirmed. Moscow-based Sberbank conducted the market research as part of its SberData initiative, revealing that Russian residents performed 50.4% of total transfers… Read More

February 3, 2020 @ 11:54 am By Samantha Hurst  |  

Worldline, (Euronext: WLN) a European payments and transactional services firm announced on Monday it has acquired French fintech Ingenico for €7.8 billion. The companies reported that their Boards of Directors have unanimously approved a business combination agreement pursuant to which Worldline would launch a tender… Read More