Global FinTech | 2022 #34
Weekly news up to Tuesday, August 23rd, 2022
For the past week’s funding news overview, we highly recommend reading our weekly #DoneDeal newsletter 👇
👀 Are you interested in funding news from the FinTech space?
💡 Read all about it in my weekly overview article and get the latest funding news from the global FinTech space in your inbox every week.
REPORT
In this enhanced seventh edition of the Worldpay Global Payments Report, you’ll get an in-depth view of how consumers pay when shopping online and at the point of sale in more than 40 markets, along with real-time payments insight from FIS® Flavors of Fast research.
👉 Download the full report here.
REPORT
The Paypers launches the 7th edition of the Payment Methods Report 2022.
👉 Download the complete “Payment Methods Report 2022” by The Paypers here.
👀 NEWS HIGHLIGHT
Shopify will offer up to AUD 2.5 million in loans to Australian businesses.
The funding will be repaid as a percentage of future sales and will benefit existing Shopify users who were previously declined loans by traditional bank businesses.
As opposed to traditional loans payable with interest, Shopify Capital repayments are designed with a per-sale perspective, with remittance paid by businesses as a percentage of daily takings.
👉 Read the full Paypers article here.
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🤔 ANALYSIS
In the Philippines, the growth potential is higher than ever. The introduction of a well-designed regulatory framework alongside encouragement of investment will help significantly improve the state of the sector.
👉 Read the full Mercuryo blog here.
📰 ARTICLE
Are all account-to-account (A2A) payments Open Banking Payments?
Account-to-account payments are simply the transfer of value, generally fiat currency, from one account to another without any intermediaries, such as bank/scheme cards.
👉Read this full insightful post by David Parker here.
💬 INTERVIEW
SEON is the go-to fraud prevention solution for Revolut, Mollie, and Afterpay.
Fintech Magazine caught up with CEO and co-founder Tamas Kadar to find out more.
👉Read this full interview here.
💬 INTERVIEW
Mastercard CEO Applauds UPI, says India is set to become the largest digital economy in the world.
In an interview with CNBC TV18, Miebach, who was on his first visit to India after taking charge of his role, spoke on several topics, including the future of payment systems and the opportunities he sees in India.
👉 Read the full News 18 article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Four more people in Singapore were charged over Wirecard case, taking the total tally to seven. Link here.
⭐️ FinScore has announced a continuation of its partnership with Provenir. Link here.
⭐️ RBI tightens norms for Chinese lending apps. Link here.
⭐️ Klarna’s founder plans to create what he calls a “Nobel Prize for Impact”. Link here.
⭐️Check out the FinTech Egypt 🇪🇬 Report. Link here.
PAYMENTS
Arab Financial Services launches its proprietary BPay app. Link here.
Zimpler teams up with Gigapay to provide instant payouts for content creators. Link here.
A co-founder of Funding Circle, Samir Desai is on the verge of launching a new business that he claims will eliminate online payment fees. Link here.
Safepay received pilot approval from the State Bank of Pakistan bringing it a step closer to bagging a license to operate as a full payment service provider. Link here.
Adyen advances in-person payments with the launch of an in-house designed terminal range. Link here.
Paysend launched the Paysend Store for merchants in the UK. Link here.
Enfuce partners with Mastercard to expand the company’s Card as a Service platform in the Nordics. Link here.
Klarpay AG launched a cross-border business payment solution that can be managed via its payments dashboard or via single API integration. Link here.
Stripe will push its investment in Asia as it strives to capture demand in one of the world's fastest-growing regions. Link here.
Paytm, has taken another drubbing from investors. Some 75% of its public institutional owners voted against the pay packages of founders. Link here.
Mastercard and Atome launch a new credit card. Link here.
Tymit study examines credit card use in post-covid travel. Link here.
Dutch rail network to trial contactless open-loop fare payments. Link here.
Adyen released its H1, 2022 results last week. Overall strong performance with some slowing down as the business continues to scale. Link here.
BLIK Q2: 300 million transactions in one quarter. Link here.
ADIB Bank to introduce cards as a service in Egypt. Link here.
Yapily announced its expansion to Portugal Link here.
BNPL
Fresh from their shake-up of Gen Z’s shopping habits, buy-now-pay-later firms are now targeting business payments as the next sector ripe for disruption. Link here.
FCA warns BNPL firms against “misleading” adverts. Link here.
Tokopedia expands digital payment options with the introduction of GoPayLater Cicil. Link here.
Square sellers across the UK can now offer BNPL through Clearpay integration. Link here.
OPEN BANKING
Trustfolio teams up with Equifax for an open banking-powered debt advisory solution. Link here.
Vyzer selects Salt Edge to integrate Open Banking when investing. Link here.
Vyne announced a partnership with Wix. Link here.
CRYPTO
Crypto.com received regulatory approval from the Financial Conduct Authority in the United Kingdom. Link here.
Ebonex partners with Mastercard. Link here.
BLOCKCHAIN / DEFI
Mesh. Trade established a presence in South Africa and is looking to shake up the local capital markets using blockchain technology. Link here.
INVESTMENT
CAPEX.com announces share dealing product - CAPEX Invest. Link here.
PropCap Technologies Limited expanded to Japan, Australia, and the Greater Bay Area (GBA) of China. Link here.
MOVERS & SHAKERS
Cape appointed Prospa’s former head of growth, Ben Lyons, as their new chief revenue officer. Link here.
Elavon hired Visa executive Hemlata Narasimhan as its president in Europe. Link here.
Nathalie Oestmann, the former COO at Curve, has resurfaced in the same role at a Web3 investor called Outlier Ventures. Link here.