Tagged: payments

JPMorgan Chase Pushes into Payments with Acquisition of WePay

JPMorgan Chase (NYSE: JPM) has announced it will acquire payments platform WePay. Details on the acquisition were not revealed. A Silicon Valley based Fintech, WePay was launched as a “Payments as a Service” company in 2008. WePay has focused on  focus on platform customers with over 1,000… Read More

Sberbank, Russia’s Largest Bank, Announces Payment Solution

Sberbank and Telegram have announced the development of a new payment solution for partners using Telegram bots. The solution is described as allowing the acceptance of MasterCard, Visa and MIR card payments. The development also marks the first time Apple Pay and Android Pay can… Read More

Alpha Payments Cloud Rebrands to Alpha Fintech

On Tuesday, Dublin-based fintech startup Alpha Payments Cloud announced it has rebranded to Alpha Fintech. According to the company, the rebranding aims to sow Alpha’s positioning as an end-to-end middleware that connects the merchant buyer and vendor supplier across the entire payments, risk and commerce spectrum… Read More

FCA Publishes PSD2 Approach

The UK Financial Conduct Authority (FCA) has published their approach to the EU directive known as PSD2.  This directive defines the requirements for firms that provide payment services and impacts a wide range of financial service firms including Fintechs. PSD2 ostensibly aims to improve consumer… Read More

Silicon Valley Bank & First Data: Applications Open For Commerce.Innovated’s Winter 2017 Class

On Tuesday, Silicon Valley Bank (SVB) and First Data announced applications are now open for the Winter 2017 Class of the accelerator program, Commerce.Innovated. This news comes just one month after the companies announced the four selected startups for the Fall 2017 program. Commerce.Innovated. is described as… Read More

FinTech Australia Members Assembly Payments & CurrencyVue are Selected Participate in SWIFT Global Challenge

FinTech Australia is sharing that two of their members have been selected to participate in the Swift global FinTech challenge at LATTICE80 on 13 and 14 September 2017. This past June, SWIFT offered Fintech companies from around the world to develop new overlay services that leverage… Read More

Payza’s Cryptocurrency Address Manager Now Live: Bitcoin Management Made Easy

Payza, the Montreal-based payments technology company, has introduced a new cryptocurrency feature, Cryptocurrency Address Manager. This new feature enables Payza members to generate and manage cryptocurrency addresses from within their Payza accounts. With this launch, Payza members will be able to generate their own Bitcoin… Read More

WorldFirst’s World Account Offers Global Payments in Local Currencies

Following a successful Beta trial and over 1000 registrations, WorldFirst has launched their newest offering the “World Account” for online money transfers. The World Account is launching as a free service with no hidden fees or charges on FX transfers or to open or maintain… Read More

Hong Kong’s Monaco Launches New Cryptocurrency Mobile App

On Thursday, Hong Kong-based payments and cryptocurrency platform Monaco announced the launch of its new mobile app, which gives users a simplified way to buy, spend, and earn cryptocurrency cashback on all transactions. While sharing details about the app, Kris Marszalek, co-founder and CEO of Monaco, stated: “We… Read More

Apple is Now Partnering with WeChat Pay in China

In a local announcement, Apple added WeChat Pay, part of Tencent, for payments in its App store and online music. WeChat is a social network similar to Twitter that has evolved into providing additional services. Apple already accepts Alipay, part of Alibaba, for payments on… Read More

Singapore Payments Council Creates Taskforce for Consistent QR Code

  The Singapore Payments Council has created a task force to develop a common QR Code for the country. This is part of a broader initiative of establishing interoperable electronic payments. Singapore is keen to facilitate digital transactions. Council members advocated the use of QR… Read More

Fintech Startup Paybase Secures £700,00 Grant From Innovate UK

London-based fintech startup Paybase has reportedly secured a £700,00 grant from Innovate UK as it prepares to launch its new payments platform. The company stated that it provides an end-to-end solution for Payments, Compliance, and Risk – all rolled into one unified API. Paybase explained that… Read More

Fiserv’s Acquistion of Monitise is Approved

The board of directors of Monitise plc (AIM:MONI) has approved the acquisition of the company by Fiserv (NASDAQ: FISV). The cash offer will see shareholders receiving 3.1 pence per share as soon as practical and no later than 14 days after the effective date. Fiserv has created a section on their… Read More

Singapore Seeks Info to Boost Electronic Payments for Small Businesses

Multiple government agencies in Singapore have come together in a Request for Information (RFI) on electronic payments. The initiative is part of a national drive towards fostering an electronic payment society in Singapore. The National Environment Agency (NEA), Housing & Development Board (HDB), Monetary Authority… Read More

dLocal Announces Payments Platform Launch in India

dLocal, a fintech company specializing in facilitating cross-border payments for global e-commerce merchants in emerging markets, announced on Thursday the launch of its payments platform in India. The company stated its newly-opened local office in New Delhi enables global e-merchants to accept and remit payments… Read More

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