PAYTECH

ALL PAYTECH NEWS

Aussie Fintech Wildcard will be closed due to COVID-19

The Australia-based budgeting fintech wildcard will close in August after failing to recover from the COVID-19 pandemic. Wildcard failed to raise the funds needed to …

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Faroe Islands accelerate e-commerce with Clearhaus and Terminal.fo

The Faroe Islands are improving their e-commerce infrastructure with the Danish fintech Clearaus and the Faroese payment gateway Terminal.fo. The partners claim that e-commerce “flourished” …

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Deutsche Bank grabs Wirecard manager Kilian Thalhammer

Deutsche Bank has hired Kilian Thalhammer, a former Wirecard manager, to monitor the Merchant Solutions pillar. Thalhammer will move to Deutsche Bank in October. Stefan …

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FreedomPay works with Barclaycard

Barclaycard has signed a partnership agreement with the payment platform FreedomPay, which gives its users access to the company’s commerce platform. According to Kronenthal, CTO …

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MAS completes blockchain tests for multiple currencies

The Monetary Authority of Singapore (MAS) has completed its fifth and final test phase for a multi-currency blockchain payment network. MAS believes the prototype could …

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Marqeta plans to go public in 2021

Marqeta, the California-based card issuing platform, plans to go public in 2021. Reuters According to the source, Marqeta could go public later this year or …

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Volante receives $ 35 million, the first capital increase in two decades

Volante, a New York-based Payment-as-a-Service (PaaS) fintech, has decided to raise debt for the first time in nearly 20 years. Volante is profitable for most …

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The Bank of England selects Accenture as its RTGS renewal partner

The Bank of England (BoE) has appointed Accenture as a partner in the RTGS (Real Time Gross Settlement) program to renew services. The RTGS timeline …

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US remittance start-up Remitly lands $ 85 million

Remitly, a U.S. start-up that helps migrant workers send money overseas, has landed $ 85 million in an equity round. A number of past supporters …

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Network International from the UAE buys Nairobi Fintech DPO Group

Network International, a Dubai-based payment giant, raised $ 288 million to acquire Direct Pay Online (DPO) Group, a Nairobi-based fintech. DPO will continue to operate …

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Supplying China’s Small Exporters

Ask the average western consumer where their fancy electronic gadgets, plush toys, or Christmas decorations come from. Probably they burst out “China”. But many will …

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Sezzle signs partnership agreement with Plaid

Buy now, pay later fintech Sezzle has signed a partnership agreement with the data company Plaid, owned by Visa. Plaid expands its network with Sezzle …

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Paysafe acquires the US payment company Openbucks

Paysafe has acquired the US-based payment company Openbucks as part of an ongoing expansion in the US. The Openbucks team is moving to Paysafe’s eCash …

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Mastercard expands cross-border services in China with Bank of Shanghai

Mastercard has expanded its cross-border payment service by expanding into China through a partnership with the Bank of Shanghai. According to Bank of Shanghai, customers …

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Exclusive: The sponsors of Money20 / 20 Europe are jointly examining the event options for Amsterdam

A group of sponsors have come together to look into the possibility of withdrawing from the Money20 / 20 Europe conference in September. FinTech futures …

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Swift has named Nick Kerigan as the new innovation execution leader

Swift has named Nick Kerigan as the new innovation execution leader. He reports directly to the Chief Innovation Officer (CIO). Kerigan will be responsible for …

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ACI Worldwide works with Arvato Financial Solutions

ACI Worldwide announced a new partnership with Arvato Financial Solutions to fight e-commerce fraud. ACI offers Arvato solutions to its dealer network Through the partnership, …

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Global Payments signs cloud contract with AWS

Global Payments and Amazon Web Services (AWS) have signed a multi-year cooperation agreement. AWS will host Global Payments’ card issuing systems for customers Global Payments …

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TD Bank extends its 15-year partnership with TSYS

TD Bank Group has signed a multi-year extension of payment processing with TSYS. The expanded deal includes TD Bank in the US and Canada The …

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EPA criticizes FCA’s approach to Wirecard suspension

The Emerging Payments Association (EPA) has stated that the Financial Conduct Authority (FCA) should have taken a “more detailed” approach to the blanket suspension of …

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Chinese regulators are considering anti-trust review of AliPay and WeChat

The Chinese central bank is considering launching an antitrust investigation into the behavior of digital payment giants Alipay and WeChat Pay. Alipay and WeChat have …

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Apple to acquire Mobeewave payments company for $ 100 million

Apple has bought the start-up Mobeewave for payments to turn its iPhones into payment terminals. Mobeewave’s technology turns mobile devices into payment terminals According to …

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The Greek fintech Viva Wallet officially becomes a bank

Viva Wallet, the Greek payment services company that bought a bank in January, has officially received its banking license. The Attica-based start-up acquired the banking …

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Payments fintech Vitesse raises £ 6.6m in Series A funds

Phillip McGriskin, Vitesse CEO London-based cross-border payments company Fintech Vitesse has raised £ 6.6m in Series A funding. The final round is led by Octopus …

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Pay group Stripe grabbed General Motors CFO

Stripe has poached General Motors CFO Dhivya Suryadevara. Suryadevara has been named CFO of Stripe, the online payments startup on August 11th. Dhivya Suryadevara, Stripe’s …

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Containers and PCI DSS: 10 requirements that financial services must meet

For financial service companies 1) under the scope of the PCI DSS (Payment Card Industry Data Security Standard) and 2) who now use the advantages …

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Wirecard business partner in the Philippines reported dead

Christopher Bauer, the owner of the most important Wirecard partner PayEasy Solutions, was reported dead in the Philippines less than two weeks ago. The 44-year-old …

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Payroll firm CloudPay has raised $ 35 million in Series D funds

CloudPay announced a $ 35 million Series D round led by Runway Growth Capital. CloudPay has raised $ 117 million since 1996 Existing investors Rho …

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Cambodia Payments Fintech Clik lands $ 3.7 million

Clik, a Cambodia-based fintech company that provides mobile payment solutions to businesses, merchants and consumers, has received $ 3.7 million. According to Crunchbase, it is …

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The Indonesian fintech Ayoconnect is raising $ 5 million in pre-Series B funds

Ayoconnect, an Indonesian fintech company, raised $ 5 million from companies like BRI Ventures, Kakaku, and Brama One Ventures prior to Series B. Alex Jatra, …

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Automated accounting firm Candis is raising $ 12 million in Series B funding

Automated accounting and payments company Candis has raised € 12 million in a Series B funding round led by Viola Ventures and Rabo Frontier Ventures. …

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Five predictions for the future of payments

The coronavirus pandemic may have completely changed life as we know it, but in many ways it’s an accelerator for trends that are already gaining …

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Klarna’s losses increase after the first year of negative profit

Klarna, the Swedish giant that buys now and pays later (BNPL), saw losses increase by around 85% in the first half of this year compared …

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Video: This Week’s Top Fintech Stories – Aug 28, 2020

The FinTech futures weekly summary of the most important stories and developments in the industry from around the world. This week we cover: N26 reaches …

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ROSCA: Is there any potential for entering developed markets?

The fintech industry has been booming for a decade and has been in demand from venture capital and private equity firms: According to the State …

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Nordic Fintech Open Payments brings in 3 million euros in the second starting round

The Swedish start-up Open Payments has raised 3 million euros in a seed financing round. The start-up has raised 4.2 million euros since 2017 Industrifonden …

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Afterpay acquires the Spanish BNPL to penetrate Europe

Afterpay, the Australian buy now, pay later (BNPL) giant, has acquired Spanish BNPL company Pagantis to advance its advances in Europe. Reuters Reports. With a …

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Worldremit acquires the remittance company Sendwave

WorldRemit announced that it has agreed to acquire the remittance company Sendwave for an undisclosed amount of cash and shares. Sendwave, based in Boston, has …

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White Paper: How Millennials & Gen Z Can Drive Financial Institutions To Grow

For a long time, digital-first customers represented the “young” people who would represent the future of the bank or credit union. That is no longer …

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Thunes raises $ 60 million in Series B to drive network expansion

Cross-border payments company Thunes has raised $ 60 million in a Series B investment round led by Helios Investment Partners. Thunes has raised $ 70 …

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The State Bank of India strengthens the ATM and POS infrastructure with ACI Worldwide

State Bank of India (SBI) provided ACI Worldwide’s payment infrastructure for ATMs and POS terminals. ACI and State Bank of India have a longstanding partnership …

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Caceis registers with FIS in order to provide a new payment node

The asset service group Caceis has signed a “long-term” contract with FIS for the creation of a new payment center. Caceis was created in 2019 …

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NAB and CommBank are trying to bring interest-free credit cards to market

Two major Australian banks have rolled out interest-free credit cards less than 24 hours apart as lenders in the country try to battle the popularity …

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The US start-up Finix receives 30 million US dollars from Lightspeed & Amex

Finix, a San Francisco-based payment infrastructure as a service provider, has raised $ 30 million. The new investment led by Lightspeed Venture Partners and American …

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How banks can balance UX and security in a pandemic

Harnessing the power of facial biometrics and AI COVID-19 has had a tremendous impact on consumer attitudes, behaviors, and purchasing habits, and many consumers have …

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RTP changes payments quickly

The ability to pay for goods and services usually serves as the foundation of any self-respecting economy. But it is the convenience of payments that …

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Modulr is the first non-bank to start verification of the payee

The UK fintech module launched Confirmation of Payee (CoP), the first non-bank or building society in the country to do so. Confirmation from the payee …

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Cornerstone Brands plans to acquire FXPress Payment Services

FXPress Payment Services was acquired by Cornerstone Brands, which in turn sells its brand to founders Oliver Bridge and Spencer Hill. FXPress claims to process …

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Wells Fargo extends 25-year processing partnership with TSYS

Wells Fargo has renewed a long-term contract with Global Payments to provide TSYS payment technology. TSYS has worked with Wells Fargo for 25 years As …

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The UK government seeks an open banking transformation for HMRC

The British HM Revenue & Customs (HMRC) has published a government tender specially tailored to the provision of open banking services. HMRC hopes to automate …

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Vanquis Bank works with NatWests Payit

Payit, NatWest’s open bank-based payment service, has partnered with Vanquis Bank. Vanquis is a subsidiary of the UK subprime lender Provident Financial Group. It focuses …

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