Аsia
Ant International Acquires MultiSafepay to Bolster European SME Payments
Fintech News Singapore, Posted July 2, 2024
Ant International has acquired Amsterdam-based payment service provider MultiSafepay, integrating it into its Antom division, a payment and digitisation services provider. The financial details of the deal was not disclosed.
The acquisition aims to enhance payment solutions and digital services for small and medium-sized enterprises (SMEs) across Europe.
MultiSafepay will now offer omnichannel payment services that connect over 40 international payment methods, including cards, e-wallets, and Buy-Now, Pay-Later options.
Antom, operating in more than 40 markets and supporting payments in over 100 currencies, brings additional marketing and digitalisation services to the table, providing more growth opportunities for local and regional businesses.
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Malaysia’s Maybank Introduces Single Device Feature for Sole Proprietors to Manage Finances
Crowdfund insider, Posted June 30, 2024 2024
Maybank introduced the single device feature for sole proprietors where users can link up to five Maybank2u (M2U) access in the MAE app, enabling them to manage their finances in an easier and more seamless manner.
This includes a combination of one individual account and “up to four business accounts, or all five business accounts.”
The new feature will benefit Maybank sole prop customers and allow them “to view their financial activities across all the linked accounts on a single device, eliminating the need to operate multiple devices, which will save them more time and provide further convenience when banking online.”
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RBI joins Project Nexus for instant cross-border retail payments
The Paypers, Posted July 4, 2024
The Reserve Bank of India (RBI) has joined Project Nexus, an international initiative to enable instant cross-border retail payments by interlinking domestic FPS.
RBI has been collaborating bilaterally with various countries to link India’s Fast Payments System (FPS) — the Unified Payments Interface (UPI) — with their respective FPSs for cross-border Person to Person (P2P) and Person to Merchant (P2M) payments.
While India and its partner countries can continue to benefit through such bilateral connectivity of FPS, with Project Nexus, a multilateral approach will provide further impetus to the efforts in expanding the international reach of Indian payment systems.
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MoneyHero Group Announces Strategic Partnership with Jirnexu Pte. Ltd in Malaysian Market
NASDAQ, Posted June 28, 2024
MoneyHero Limited(NASDAQ: MNY) (“MoneyHero” or the “Company”), the leading personal finance and digital insurance aggregation and comparison platform in Greater Southeast Asia, today announced the signing of a strategic transaction with Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. Through this transaction, MoneyHero’s B2C brand ‘CompareHero’, operating exclusively in Malaysia, its website, domain names, select user data, and IP rights will be acquired by Jirnexu Sdn. Bhd. When the transaction is completed, the CompareHero brand will continue in operation under the world-class systems of Jirnexu Sdn. Bhd. moving forward. In connection with this transaction, MoneyHero will retain an equity position in Jirnexu Pte. Ltd. Terms of the deal, expected to close in early July 2024, are confidential.
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Temenos partners with Tech Mahindra to enhance EMI core banking solutions
Finance Director Europe, Posted July 2, 2024
Temenos has entered into an agreement with Indian tech company Tech Mahindra to enable the latter to offer a core banking solution on Temenos SaaS, particularly tailored for electronic money institutions (EMIs) in the UK and Europe.
By leveraging the Swiss banking software provider’s composable banking capabilities and Tech Mahindra’s services, EMIs will benefit from faster time to market. They will also gain from reduced operational costs, scalable architecture, and access to over 100 curated Temenos Exchange fintech partners.
The partnership between Temenos and Tech Mahindra will also enable EMIs to offer customised and differentiated services to their customers.
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Europe
BNPL Fintech Klarna Teams Up with Adobe Commerce to Enable Buy Now Pay Later Services
Crowdfund insider, Posted July 3, 2024
Klarna, the AI-powered global payments network and shopping assistant, announced it’s partnered with Adobe Commerce in order “to enable merchants to easily implement Klarna’s Buy Now Pay Later (BNPL) services, along with other flexible payment options.”
This allows Klarna to expand payment flexibility to consumers.
Erin Jaeger, Head of North America at Klarna said:
“Our relationship with Adobe Commerce offers thousands of merchants a flexible, seamless, and smooth way to accept payments. This enhances the shopping experience for consumers and boosts the operational capacities of merchants.”
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G+D unveils offline payments tech
Finextra, Posted July 4, 2024
Germany’s Giesecke+Devrient (G+D) has unveiled a token-based system for secure offline payments.
G+D Filia Unplugged promises consecutive, secure offline payment transactions anytime and anywhere with the advantages of cash, including privacy protection, and high levels of data security.
The firm says its technology can be integrated seamlessly into existing digital payment offerings, including commercial banks’ tokenised deposit systems, instant payment systems, or mobile money services.
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ConnectPay launches European Fintech Index to track sector progress
The Paypers, Posted June 28, 2024
ConnectPay, a financial platform, has launched the European Fintech Index (EFI), designed to serve as a decision-making tool for fintechs, businesses, and regulators.
The Index aims to address the scarcity of uniform data and the inconsistencies in defining ‘fintech’ by compiling a large collection of open data about the fintech industry. Previously, the most recent data on the fintech industry was provided by the World Bank through the Global Findex Database, which has not been updated since 2021.
Representatives of ConnectPay stated that the EFI can be a valuable tool for decision-making by providing the latest data in an interactive data map, allowing users to select and compare relevant information.
Varying definitions hinder accurate tracking of industry progress. The EFI aims to promote relevant discussions about what should be included under the term ‘fintech.’
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UK bank customers hit by payment delays
Finextra, Posted June 28, 2024
Thousands of major bank customers in the UK have been hit by payments problems that has seen some people not receiving their salaries.
Bank of Scotland, Halifax, Santander, NatWest, and Monzo wer all hit by an apparent glitch in the UK’s faster Payments system.
Pay UK has confirmed that the issues arise from an issue with the Faster Payments system: “We are aware that a small number of Faster Payments were delayed or not processed earlier today.
By midday, the issue appeared to have been largely resolved, with the lenders telling customers that payments were being processed and should be completed by the end of the day.
Says Pay UK: “Working with our infrastructure provider, this technical issue has been fixed.”
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USA
Bank of America backs Simply Asset Finance
Finextra, Posted June 28, 2024
The Bank of America has moved to support Simply Asset Finance, a fintech that focuses on lending to SMEs, with a loan facility worth up to $120 million.
The loan facility has an accordion feature to extend to $120 million, but the initial facility is for $60 million. The feature will allow Simpli to increase in lending by 30% by neatly £100 million within a year.
The London-based fintech was founded in 2017, establishing a digital platform that has since lent over £1.3 billion to more than 7,400 UK small businesses since.
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Mountain America Credit Union extends partnership with Alkami
The Paypers, Posted July 3, 2024
Since originally partnering in 2017, Alkami has provided MACU’s members with innovative digital banking solutions, including digital banking and Data & Marketing Solutions, where MACU can access cleansed data to support their information-driven strategic decision making. This enables MACU to gain more value from their core and transaction data without having to cleanse, categorise, and tag every transaction themselves.
The Alkami Digital Banking Platform delivers intuitive, self-service tools that consumers demand within a personalised user experience (UX) powered by a dataset that rivals megabanks. Alkami’s platform gives regional and community financial institutions, like MACU, the ability to accelerate digital sales and services, helping to increase revenue while lowering costs.
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LatAm
Tech Crunch, Posted June 26, 2024
Just seven months after announcing a $6 million seed funding round, Hyperplane, a San Francisco-based data intelligence startup that is building foundation models for banks, announced Wednesday that it has been acquired by Brazil’s Nubank.
Hyperplane was founded in 2022 by Daniel Silva, Felipe Lamounier, Rohan Ramanath and Felipe Meneses. When the company launched out of stealth last year, Ramanath explained that the main focus was to build a personalization layer for banks across the world. “The goal for Hyperplane is, if banks across the world have a lot of first-party data, what does it take to build a data intelligence layer so that banks can plug in their first-party data?”
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Noda expands its Open Banking network to Brazil
The Paypers, Posted June 27, 2024
UK-based Open Banking payment provider Noda has expanded its Open Banking network to Brazil to unlock new opportunities for merchants.
Merchants that collaborate with Noda from any jurisdiction can now benefit from cross-border multichannel payment services, unified reconciliation, single onboarding process, and instant banking and money transfers across Brazil, Europe, the UK, and Canada (Noda’s operational markets). The expansion enhances the convenience for merchants, enabling them to conduct business seamlessly across different regions.
Officials from Noda said that adding Brazil to their list is valuable for merchants that aim for global reach. They are committed to doing everything possible to ensure their convenience and success.
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ACI Worldwide and RS2 Launch One-Stop Solution for Acquirers and Issuers in Brazil
ACI Worldwide, Posted June 25, 2024
A global leader in mission-critical, real-time payments software, and RS2, a global payments processor and technology provider, have joined forces to offer a one-stop solution for acquirers and issuers in Brazil. The new offering combines the best of ACI’s and RS2’s acquiring and issuing capabilities, supporting financial institutions, integrated software vendors, payment facilitators, independent sales organizations and payment processors on their digital transformation and modernization journey. It brings the global expertise and technology of both companies to the Brazilian market jointly for the first time.
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Mexican FinTech startup Ximple secures $2.7m to revolutionize credit access
Fintech Global, Posted June 27, 2024
Ximple, a pioneering digital credit distribution firm, has successfully garnered $2.7m in a recent funding round.
Investors in this round include BoostCapital Partners, Clocktower Technology Ventures, Graph Ventures, 99 Startups, and Lotux.VC, according to a report from Contxto.
Ximple, founded at the beginning of 2024 by Daniel Sujo, Rodrigo Aparicio, Juan Pablo Salem, and Joao Ramos, is committed to fostering financial inclusion. The company’s platform equips direct sellers, known as “Aliados,” with the capability to offer credit solutions to their clients. By leveraging social connections and insights, Ximple’s approach promises more tailored and effective financial services.
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