

Аsia

India’s Fintech M&A Count Hits 30 in 2023, Lending Sector Tops List
Crowdfund Insider, Posted February 24, 2024
Lending Fintech companies accounted for 30% of all Fintech acquisitions in India in 2023, highlighting a shift in market dynamics amid growing regulatory pressures, a report from GrowthPal revealed.
This surge in acquisitions within the lending sector marks a departure from previous years, where the payments and Wealthtech sectors dominated merger and acquisition (M&A) activities.
The GrowthPal analysis, which focuses on data-driven deal sourcing, noted a total of 30 Fintech M&A transactions in India for the year, slightly down from 37 in 2022 and up from 29 in 2021.
#Fintech

Mastercard partners with Octopus to improve travel payments in Hong Kong
The Paypers, Posted February 29, 2024
Hong Kong-based Octopus has partnered with Mastercard to improve the payments experience for Hong Kong travellers.
This partnership introduces a streamlined process for Mastercard cardholders to top-up their Mobile Octopus through the Octopus App for Tourists, available on iPhone or Apple Watch devices. By using Mastercard as the payment option, travellers can access Octopus contactless payments at over 180,000 acceptance points throughout the city, spanning various activities such as transportation, dining, entertainment, and shopping.
In the company press release, officials from Mastercard highlighted the significance of the partnership in facilitating a seamless experience for travellers in Hong Kong. They emphasised Mastercard’s commitment to supporting connections between buyers and sellers globally, particularly benefiting local businesses, including SMEs, by tapping into the influx of inbound travellers.
#Payments

Google Pay to launch SoundPod in India
The Paypers, Posted February 23, 2024
Google has announced its plans to launch the SoundPod, its portable speaker developed to validate and announce successful payments instantly, to SMEs across India.
As per the information detailed by Google’s officials in a blog post, Google Pay initially launched in the region in September 2017 and, since then, it has been a collaborator in India’s journey to safe and secure digital payments. After introducing SoundPod, an audio device that supports merchants in tracking QR code payments with audio alerts when a payment is received, in a limited pilot in 2023, the company intends to bring the product to small and medium-sized enterprises over the upcoming months.
#Payments

Revolut introduces Mobile Wallets in Singapore
The Paypers, Posted February 28, 2024
UK-based fintech company Revolut has announced the launch of Mobile Wallets for its customers in Singapore, aiming to improve abroad payments.
As per the information detailed in the press release, Revolut’s users can transfer money to Bangladesh (bKash) and Kenya (M-Pesa) directly from their mobile app, providing a simplified and convenient payment option for expats residing in Singapore.
#Fintech
Europe

EU adopts instant payments rules
Finextra, Posted February 26, 2024
The European Council has adopted a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries.
The new rules, agreed by the Council and Euopean Parliament last year, will allow people to transfer money within ten seconds at any time of the day, including outside business hours, not only within the same country but also to another EU member state.
Payment service providers such as banks, which provide standard credit transfers in euro, will also be required to offer the service of sending and receiving instant payments in euro at no extra charge.
#The European Parliament

Zilch launches ‘Pay over 3 months’ BNPL product
Finextra, Posted February 22, 2024
UK buy now, pay later firm Zilch has expanded its consumer credit offering with the launch of a longer-duration zero-interest payment option designed for bigger ticket purchases abaove £75.
The new product will sit alongside the shorter-tenor ‘Pay over 6 Weeks’ or, for day-to-day purchases, Zilch’s 5% interest-bearing ‘Pay Now’ debit product.
When opting to ‘Pay over 3 months’, Zilch customers will pay 25% up-front and spread the remaining purchase price over three instalments, just like they currently do when making interest-free credit repayments over six weeks.
#BNPL

Viva.com activates Cartes Bancaires on Tap to Pay on iPhone in France
The Paypers, Posted March 1, 2024
Viva.com has announced the launch of Cartes Bancaires, enabling France-based merchants to take contactless payments with Tap to Pay on iPhone.
Following this announcement, businesses and partners of Viva.com will be enabled to take contactless payments from a potential pool of nearly 76 million cardholders or mobile holders with the use of the CB scheme, while leveraging just an iPhone device and the company’s Viva.com | Terminal application.
#Fintech

Klarna discusses USD 20 billion IPO
The Paypers, Posted February 28, 2024
AI-enabled global payment provider and shopping assistant Klarna has proceeded with its strategy for a potential US listing for a valuation of USD 20 billion.
The Buy Now, Pay Later (BNPL) company recently started discussing with investment banks to work on an initial public offering that could happen in the third quarter of 2024, with Klarna considering seeking a valuation of approximately USD 20 billion. As mentioned by Bloomberg, negotiations are still ongoing and details of the offering, including valuation and timing could be modified, were not disclosed. At the time of writing, Klarna representatives declined to comment on the matter.
#BNPL
USA

Google Pay to shut down in the US
Finextra, Posted February 27, 2024
Google is rejigging its mobile payments services again, killing off Google Pay in the US in favour of Google Wallet.
The standalone Google Pay application will disappear on 4 June in order to “simplify the app experience,” says a statement.
Americans will be able to use its most popular features — tapping to pay in stores and managing payment methods – from Google Wallet. However, P2P payments will no longer be available.
Google Wallet first appeared more than a decade ago but was rebranded in 2015 as Android Pay and then again in 2018 as Google Pay.
#Google Pay

BNP Paribas and Citi invest in United Fintech
Finextra, Posted Febuary 14, 2024
BNP Paribas and Citi have become the first institutional investors in United Fintech, an umbrella outfit dedicated to scooping up a stable of capital markets, wealth management and wholesale banking vendors.
Founded in 2020 by CEO Christian Frahm, United Fintech has so far acquired five fintechs, employing over 160 people across 8 countries. Firms acquried under the United Fintech roll up include Cobalt, FairXchange, TTMZero, Athena Systems and NetDania.
As part of the new financing deal, two rotating board seats will go to BNP Paribas and Citi and will contribute to the platform’s strategic direction.
#Fintech

American Express adds BNPL twist to credit card bills
Finextra, Posted Febuary 27, 2024
American Express has launched ‘Plan It’ – a new offering for the UK market that allows credit card holders to pay off purchases on their statement, or a portion of their monthly bill, in instalments.
Under the arrangement, customers with a credit card can select any transaction above £100, or an amount from their most recent statement, to put into an instalment plan for 3, 6 or 12 months. They will be charged a fixed monthly fee for the privilege, but will not be charged interest on any balance in their instalment plan.
Instalment plans can be set up from the American Express App, or via the user’s online account. Once activated, charges against the plan are automatically included in the ‘minimum due’ payment each month.
#American Express

Amazon Pay secures payment aggregator licence from RBI
TThe Paypers, Posted February 27, 2024
Amazon Pay has secured a payment aggregator licence from the Reserve Bank of India, being enabled to offer online merchant payment solutions to its clients.
Following this announcement, Amazon Pay is expected to continue its focus on simplifying and making the payment experience more secure and efficient for its customers and clients. In addition, the company will prioritise the process of fulfilling the goals and development strategies of merchants and traders.
This represents the second regulatory not that Amazon Pay received in the region of India, after the Prepaid Payment Instrument (PPI) licence. The financial institution operates a customer-focused mobile wallet which was developed in order to provide users and clients to leverage all forms of digital and UPI payments and transactions.
#BNPL
LatAm

Brazil’s Digital Bank Nubank Appoints Elita Ariaz as Chief Legal Officer
Crowdfund insider, Posted February 22, 2024
Nubank (NYSE:NU), one of the largest financial services platforms in the world, has appointed Elita Ariaz as the new Chief Legal Officer of the company.
With over 20 years of experience in the sector, the executive assumes the position to lead the Legal, Compliance, and Public Policy teams, and is “the fourth woman to join the management team of Nu Holdings along with Cristina Junqueira, co-founder, Livia Chanes, CEO Brazil, and Suzana Kubric, CHRO.”
Ariaz’s hiring was publicly announced “in September 2023 and she assumes the position after completing a prior leave period.”
#Nubank

Amerant Investments Partners with iCapital to Expand US and LatAm Access to Alternative Investments
Crowdfund insider, Posted February 23, 2024
Amerant Investments, a wholly owned subsidiary of Amerant Bank – the largest community bank in Florida – announced that it has entered into a strategic relationship with iCapital, the global fintech platform driving the world’s alternative investment marketplace for the wealth management industry.
This collaboration will provide Amerant Investment’s financial advisors, along “with their clients, access to private market opportunities and analytics.”
The partnership will also entail oversight of “the entire investment and education experience through a unified technology platform and operating system.”
#Fintech

inDrive launches integrated financial services product for drivers
The Paypers, Posted February 6, 2024
Puerto Rico-based Segura Bank International (SBI) has launched a new digital bank for mid to high-earners in Latin America, powered by Temenos’ cloud-native core banking platform.
SBI is licenced by Puerto Rico’s financial services regulator, the Office of the Commissioner of Financial Institutions (OCIF), as an International Financial Entity (IFE). With Temenos’ banking capabilities for Multicurrency Accounts and Deposits, SBI will provide USD financial products, helping customers protect their savings from potential currency fluctuations and devaluation. Moreover, it will provide easier international transactions and access to global markets denominated in US dollars.
#SBI