Tagged: payments

TransferWise Announces Borderless Accounts in Canada

Transferwise, one of the highest profile Fintech firms in Europe, announced on Wednesday the launch of its new Borderless account in Canada. This news comes just a few weeks after the company added Apple Pay to the list of options its users may leverage to… Read More

InstaReM Says its Cross Border Payments Platform to be Active in 34 European Countries by September

InstaReM (IE instant remittance), a company that claims 8% to 10% of remittance transactions between India and Australia, says it will be active in 34 European countries by next month. InstaReM says it is the largest digital cross border payments platform in Southeast Asia –… Read More

China: WeiyangX Fintech Review

China Sets up Centralized Clearing Platform for Online Payments The People’s Bank of China, the country’s central bank, has required all banks and third-party payment institutions to connect to a unified platform by June 30 of 2018 to ensure effective regulation and transaction security. The… Read More

Report: Peoples Bank of China Expected to Regulate P2P Lenders, Payment Firms

The People’s Bank of China (PBOC) is expected to strengthen the regulation of internet finance firms including peer to peer lenders and payment platforms. The report by China News references a statement by the PBOC that labels some financial products offered by Fintech firms as… Read More

Credit Everywhere: Square Reports $318 Million in Loans for Q2, an Increase of 68% Year Over Year

Square (NYSE:SQ) reported Q2 earnings yesterday. The company topped expectations by posting a loss of ($0.04) a share versus an expected loss of ($0.05) a share. While the company entered its existence as a streamlined payments processor for everyone, Square has quickly morphed into a… Read More

China: WeiyangX Fintech Review

China Issues Guideline on Artificial Intelligence Development Last week, China’s State Council has issued a guideline on artificial intelligence (AI) development, setting a goal of becoming a global innovation center in this field by 2030. The total output value of artificial intelligence industries is expected… Read More

FinTech Australia Points to Strengths & Opportunities as Outlined in Two Recent Reports

FinTech Australia is out with a statement saying that two recent independent reports bode well for the underlying strength of Australia’s Fintech industry and further opportunities for growth. Earlier this week, the Reserve Bank of Australia released a discussion paper on consumer payment methods.  On… Read More

Here is the Report from the Reserve Bank of Australia on Payments

The Reserve Bank of Australia is out with a discussion paper on the current environment for payments in Australia. The Consumer Payments Survey (CPS), which takes place every three years, recorded information on around 17,000 day-to-day payments made by over 1,500 participants during a week…. Read More

Report: Fintech Unicorn Transferwise to Allow Fund Transfer via Apple Pay Globally

Transferwise, one of the highest profile Fintech firms in Europe, has added Apple Pay to the list of options its users may leverage to move money around the world. Transferwise has been working with Apple Pay for some time now but according to a report… Read More

Financial Innovation Now Lauds Payment Task Force Report, Asks Congress to Move Forward (Faster)

Today the Faster Payments Task Force, created by the Federal Reserve, released its final report along with their recommendations on what needs to be accomplished to bring the US up to date in the payments space. Anybody engaged in the payments sector understands that the US… Read More

Swedish Fintech Firm Klarna Receives Strategic Equity Investment From Permira

Swedish Fintech company Klarna Bank announced on Friday it received a strategic equity investment from Permira, a global investment firm that advises funds and accounts with a total committed capital of circa €32 billion. According to Klarna, the investment partnership will acquire shares from existing… Read More

Federal Reserve’s Faster Payments Task Force Publishes Final Report

The Faster Payments Task Force is a group of payment industry stakeholders with representatives from across the payment ecosystem. The group involved over three hundred different stakeholders. The Federal Reserve assembled the task force to help identify and evaluate alternative approaches to implementing safe and… Read More

Bank of England to Allow Non Bank Payment Providers Access to RTGS

​The Bank of England has announced that non-bank payment service providers (PSP) are now eligible to apply for a settlement account in the Bank’s RTGS or Real Time Gross Settlement system. For Fintech firms, holding their own settlement account at the Bank enables direct access… Read More

Form3 Receives $5 Million Series A led by Barclays & Angel Co-Fund

Form3,  cloud-based platform for global payments processing, has secured a strategic investment from Barclays, the Angel Co-Fund and several individual investors who have joined the existing shareholders in raising $5 million Series A. Form3 is a turnkey solution that is simple to incorporate and pay… Read More

South Korean Fintech Startup Paycock Set to Bring Mobile Payment Service to Russian Financial Market

South Korean fintech startup Paycock has reportedly signed a business MOU with AEB IT, a Russian financial IT corporation, and will now begin to commercialize its mobile payment solution into the Russian financial market. Paycock Check is described as a mobile payment service that does… Read More

Wirecard Partners with WeChat Pay to Allow European Retailers Access to 938 Million Users

Wirecard has announced an agreement with Tencent’s WeChat Pay, one of the leading mobile payment solutions in China. WeChat or Weixin are deeply integrated into Chinese people’s daily life with a combined monthly active users of over 938 million. The mobile payment solution, WeChat Pay, has… Read More

Vantiv Offers $10 Billion Towards Acquisition of London Fintech Firm Worldpay

Worldpay Group, a British payment processing firm, announced on Wednesday that Vantiv has offered $10 billion towards the fintech company’s acquisition. The companies revealed in a joint statement: “The Boards of Worldpay and Vantiv see compelling strategic, commercial and financial rationale for combining Worldpay and… Read More

InstaReM, a Cross-Border Payments Platform, Raises $13 Million

Singapore-based InstaReM, a digital cross-border payments company, is reporting it has just received a USD $13 million investment led by GSR Ventures, with participation from SBI-FMO Ventures, Vertex Ventures, Fullerton Financial Holdings (FFH), and Global Founders Capital (GFC). InstaReM said it intends to use the funding… Read More

dLocal Debuts Marketplace Payments for Emerging Markets & Enable Growth of Global Ecommerce

dLocal, an award-winning fintech company that specializes in cross-border payments for emerging markets, announced on Tuesday it launched Marketplace Payments, a new payments product designed specifically for marketplaces whose buyers or sellers are based in emerging markets. With dLocal’s Marketplace Payments, companies can easily enable… Read More

dLocal Adds WeChat Pay, AliPay & Union Pay To Portfolio of Emerging Market Payments

dLocal, a fintech company specializing in cross-border payments for emerging markets, announced on Monday it has integrated WeChat Pay, AliPay, and UnionPay to its payment platform. According to dLocal, the three providers have collectively captured over 70 percent of the Chinese market, which notably translated into 2.9… Read More