Аsia
GCash, Maya face scrutiny in Philippines over gambling addiction
Tech in Asia, Posted October 24, 2024
The GCash mobile payment app is under scrutiny in the Philippines due to a reported increase in online gambling addiction, primarily affecting women.
The app, with over 90 million users, connects individuals to platforms like Bingo Plus and Arena Plus. This connection raises concerns about its impact on gambling habits.
Meanwhile, this comes as GCash is not the only app implicated.
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Finfra Raises US$2.5M, Partners with Tyme for Embedded Lending in Indonesia
Fintech news Posted October 29, 2024
Finfra, an Indonesian lending-as-a-service infrastructure provider, has raised US$2.5 million in a funding round led by Cento Ventures.
The fundraise was also joined by Accion Venture Lab, Z Venture Capital, and Avafin’s founder, Matiss Ansviesulis.
The investment will help Finfra scale its embedded lending solutions to support Indonesia’s digital SME ecosystem.
The company’s platform provides digital tools for loan management, scoring, portfolio analytics, and regulatory-compliant access to capital.
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Indian fintech Slice completes bank merger
Tech in Asia, Posted October 28, 2024
Slice, an Indian fintech company, has completed a merger with North East Small Finance Bank.
This marks the company’s entry into India’s regulated banking sector after a comprehensive regulatory review.
Known for its credit card-like offerings, Slice will continue digital payment and lending services. It plans to venture into traditional banking with savings accounts and investment products.
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Europe
ECB’s call to innovate: Stakeholders invited to shape the Digital Euro’s future
Fintech Global, Posted November 1, 2024
In a leap towards modernizing the European payment landscape, the ECB has announced a new initiative to explore the possibilities of a digital euro.
This initiative seeks to establish innovative partnerships with a broad spectrum of stakeholders, including small and large merchants, banks, payment service providers, FinTech companies, and educational institutions, to test and develop the digital euro’s capabilities.
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How Worldpay & Klarna will Integrate Global Payment Systems
Fintech magazine, Posted October 30, 2024
Payment processor Worldpay adds buy-now-pay-later pioneer Klarna as standard checkout option for merchant network in response to digital wallet growth
The acceleration of digital payments has created unprecedented complexity for merchants managing multiple payment providers. Today’s retailers routinely handle traditional card payments, digital wallets, bank transfers and buy-now-pay-later services –with each of which requiring separate technical integration, risk management and settlement processes.
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Postbank generates cash via barcode
Finextra, Posted October 29, 2024
Postbank and Deutsche Bank already offer their customers nationwide, free cash withdrawals via their own ATMs and cooperations with other banks, as well as Shell.
Dominik Hennen, head of personal banking Germany at Deutsche Bank, says: “With the cash code, we are expanding our deposit and withdrawal service from bank counters and ATMs to a nationwide network of over 12,000 supermarkets and pharmacy locations. Customers can withdraw significantly higher amounts than with previous cashback offers and also deposit cash, which is particularly important for our business customers.”
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Zoom Picks Klarna for Flexible Premium Payments
PYMNTS, Posted October 31, 2024
Swedish FinTech Klarna has launched a payments partnership with video communications platform Zoom.
The collaboration, announced by the buy now, pay later (BNPL) firm Thursday (Oct. 31), is designed to give consumers greater access to Zoom’s premium services.
“We want Klarna at every checkout, available everywhere, for everything, all the time,” David Sykes, the company’s chief commercial officer, said in a news release.
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Aquis Exchange and Cboe Europe to Launch SimpliCT to Explore Bid for EU Equities Consolidated Tape
PRNews, Posted October 29, 2024
HSBC have launched a new cross border e-commerce payment solution for banks worldwide, enabling their merchant business customers trading on e-commerce sites to seamlessly receive EUR and GBP payments via their local bank account.
Prior to HSBC’s introduction of this virtual account solution, businesses in certain jurisdictions were only able to access EUR and GBP funds using cross-border payments at greater cost to e-marketplace platforms and merchants, due to additional fees and FX rates.
The HSBC virtual account solution also enables Chinese businesses trading on platforms to now receive EUR and GBP payments via their local clearing system and through their own bank accounts, without having to set up foreign bank accounts in those jurisdictions. Merchants can therefore access their funds more quickly and without additional cost.
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Marqeta unveils innovative ‘Buy Now, Pay Later’ solution with Marqeta Flex
Fintech Global, Posted October 29, 2024
Marqeta, a leader in modern card issuing and embedded finance solutions, has launched its latest innovation, Marqeta Flex.
This cutting-edge solution transforms how Buy Now, Pay Later (BNPL) payment options are incorporated within payment apps and wallets, making them readily available at crucial moments within the existing payment processes.
Developed in collaboration with prominent BNPL providers Klarna and Affirm, along with the payments platform Branch, Marqeta Flex is set to revolutionize access to BNPL services for a broader user base. Specifically, Branch aims to implement this solution within its app catering to W-2 and 1099 workers, providing tailored BNPL loan options that meet the unique needs of its users.
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USA
Open Banking in U.S. Analyzed in Report
Crowdfund insider, Posted November 1, 2024
According to a global survey of Open Banking, 90% of companies are considering U.S. expansion following the finalization of new regulations this week. That is among the findings in The Transatlantic Index USA, a report released by Open Banking Excellence (OBE). The publication features insights from Open Banking experts around the world and includes qualitative and quantitative research, such as expert interviews conducted by Oxford University.
The Consumer Financial Protection Bureau’s (CFPB) Personal Financial Data Rights Rule, brought in under Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, enshrines consumers with the right of access to their digital financial data and the ability to share it securely with third parties.
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Alternative Credit Data Usage Rising: LexisNexis Risk Solutions
Crowdfund insider, Posted November 1, 2024
This week, LexisNexis Risk Solutions unveiled the findings of its inaugural Global Consumer Lending Confidence Report. The study, conducted by Datos Insights, reveals that as visibility into consumer risk provided by traditional credit data shifts, financial institutions worldwide are expanding their use of alternative data throughout the consumer lending journey.
Global financial institutions and consumers are navigating economic and regulatorychanges. Lenders are seeking more effective ways to predict risk by increasingly turning to alternative credit data to supplement the traditional credit data used by lenders for decades to assess consumer credit risk. According to 97% of global respondents, lenders identify collecting delinquent loans as their primary challenge. The report shows that 40% of respondents have observed increasing delinquencies over the past 12 months.
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Thunes, Posted October 28, 2024
Thunes, the Smart Superhighway to move money around the world, today announced the launch of its new Pay-to-Card solution, significantly broadening the company’s Global Direct Network’s reach. Through this cutting-edge offering, Thunes now connects Members of its proprietary Network to 15 billion cards globally, including Mastercard, Visa, and UnionPay, making cross-border payments faster, more efficient, and more accessible than ever before.
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Global Payments to Offer US Merchants Fastlane by PayPal Checkout
Crowdfund insider, Posted October 30, 2024
Adyen (ADYEN:AMS), the financial technology platform of choice for leading businesses, has today launched a new report with Boston Consulting Group (BCG) which reveals a game-changing $185 billion market opportunity for SaaS platforms, a substantial 25% increase since 2022.
BCG’s analysis reveals this market growth is driven by a “favorable” interest rate environment — due to higher bank revenues from accounts — as well as an overall “expansion of banking revenue pools.”
In parallel, the demand for embedded finance from small-and-medium-sized businesses (SMBs) — a sector underserved by traditional financial institutions — has broadened beyond payments.
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Crowdfund insider, Posted October 28, 2024
Forrester Consulting recently shared a detailed research report focusing on recurring payment friction in the US markets.
Forrester revealed that it has surveyed 297 US payment “decision makers” in mixed B2B and B2C firms and B2B-only firms in order to gain a better understanding of the current state of recurring payments in the United States.
According to the report, the US payment landscape has been evolving, but key operational challenges “hinder progress.”
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Fintech Sector Built Momentum as Transactions Across M&A and Financing Inccreased in Q3 – Report
Crowdfund insider, Posted October 28, 2024
FT Partners Research is announcing the release of their Q3 2024 FinTech Insights report, providing a review of FinTech deal activity with analysis across private company financings, IPOs, M&A transactions.
The third quarter wrapped up with public markets “at all-time highs,” again, much-awaited interest rate cuts and a “positive US economic outlook.”
Still, a level of “hesitation” hangs in the air with unknown “outcomes of the imminent US presidential election” as well as the ongoing “global armed conflicts.”
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LatAm
Cloud Banking Platform Mambu Inks Partnership with Kuady
Finovate, Posted October 30, 2024
Courtesy of a new partnership with cloud banking platform Mambu, payments service processor Kuady has launched its digital wallet in Peru, Chile, Argentina, and Mexico. The launch comes less than nine months after the beginning of the partnership between the two companies, and sets the stage for further expansion in Latin America, as well as in Africa and Europe.
“We’re proud to support Kuady in its mission to enhance financial inclusion and transform how people manage their money,” Mambu Chief Revenue Officer Mark Geneste said. “As the adoption of digital wallets continues to grow globally, consumers are seeking smart alternatives to cash that provide flexible and ready-to-use spending, and we are here to support financial institutions and fintechs looking to expand and innovate in this space. We can offer the speed to market, future-proofing, and flexibility needed to stay ahead of the competition.”
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Shein partners with Stori to launch a credit card in Mexico
The Paypers, Posted October 24, 2024
Chinese fast-fashion retailer Shein has introduced its first branded credit card globally in collaboration with the Mexican fintech company Stori.
This initiative aims to leverage elements that could benefit both companies as they aim to expand within Mexico, which is the second-largest economy in Latin America. The credit card initiative not only aims to attract more Mexican consumers to the credit market, where access has traditionally been limited, but also to increase traffic to Shein’s online platform, known for its affordable and quickly produced apparel.
Reuters reports that, in recent years, Shein has gained significant popularity across Latin America and is considering establishing a manufacturing facility in Mexico while enhancing its distribution network in Brazil. The region has also witnessed a rise in small businesses that purchase Shein products in bulk for resale in physical stores. With a valuation of USD 66 billion following a fundraising round last year, Shein has notably disrupted the fast-fashion sector through its cost-effective model and rapid expansion.
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Santander’s Getnet Unveils Unified LatAm Payment System
Fintech magazine, Posted October 26, 2024
Getnet introduces single integration point for merchants across Brazil, Argentina, Mexico and Chile as e-commerce market targets €800bn (US$866bn)
Getnet, the merchant payment solutions division of Banco Santander, has launched a unified e-commerce payment system across four Latin American markets.
The system, called Getnet SEP (Single Entry Point), enables merchants to process payments in Brazil, Argentina, Chile and Mexico through one technical integration.
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