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January, 2016
Archive

877

Who will be the WeChat of India? And what will it do to Flipkart and Snapdeal?

By Meghna Rao for TechinAsia,

The trend of buying things through chat has taken off in such a big way in China that some wonder if it’s a sign that chat commerce will pose a threat to conventional ecommerce around the world. (more…)

Cashless, Fintech news, Global trends

January 31, 2016

Deals: P2P lending platform Jiedaibao raises $380M at $7.8B valuation

Jiedaibao (2015, Beijing) Anonymous social circle based P2P lending platform has raised $380M from commercial banks and institutional investors. This is the second $300M+ round that the company has raised in the past 6 months. The one year old company is now valued at more than $7.8B (more…)

Fintech news

January 29, 2016

924

Nigerian Fintech company Interswitch is the African first public startup unicorn

Africa’s first billion-dollar tech IPO on a major exchange may be imminent. Nigerian digital payments company Interswitch will likely go public on the London Stock Exchange (LSE) in 2016, sources confirm.

(more…)

Fintech news, Mobile payments/banking, p2p-payments, p2p/online lending

January 28, 2016

Bank Fintech Accelerators Are Destined to Die

By Oliwia Berdak for the Amrican Banker. Oliwia Berdak is a senior analyst at Forrester Research.

These days most banks seem to have an innovation lab, accelerator or a venture capital fund to encourage tech experimentation. But these corporate startup programs are driven by either hope, fear or a herd effect. That is, if their banking competitors have a vehicle to promote innovation, they need one too. (more…)

Banks, Deals, Fintech news, Global trends

January 28, 2016

Exclusive: Thailand’s Siam Commercial Bank to launch VC arm to fund tech startups

The Siam Commercial Bank (SCB) is setting up its first venture capital fund, with a target size of up to $50 million, focussed on startups raising Series A or higher stage capital, a source familiar with the development told DEALSTREETASIA. (more…)

Banks, Fintech news

January 28, 2016

613

Mandiri’s capital venture eyeing startups

By Grace Amianti for The Jakarta Post,

New venture capital firm PT Mandiri Capital Indonesia (MCI), owned by state-run Bank Mandiri, has been launched to provide alternative financing for the country’s potential start-up businesses. (more…)

Banks, Cashless, Fintech news

January 28, 2016

564

Despite growing pains, Line made more than $1b in revenue last year

By J.T. Quigley for TechinAsia.com,

Just a week after App Annie named it the world’s top-earning app publisher outside of mobile gaming, the maker of Line announced that it earned US$1.02 billion in total annual revenue in 2015. (more…)

Fintech news

January 28, 2016

806

Apple Pay Is Coming To ATMs From Bank Of America And Wells Fargo

By Josh Constine for techcrunch.com

Both Bank Of America and Wells Fargo are working on integrating Apple Pay into their ATMs, according to a source familiar with the teams on the projects. (more…)

Cashless, Fintech news

January 28, 2016

604

NextGenVest Uses Snapchat To Send Money Tips To Millennial Students

By Mike Butcher for techCrunch.com

NextGenVest, a startup out of New York, is setting out to become a new kind of trustworthy financial entity. And to do that, it’s tackling a big problem. (more…)

Cashless, Deals, Fintech news

January 27, 2016

595

Social Investing Startup SprinkleBit Raises $10M

By Anthony Ha for Techcrunch.com

SprinkleBit, a startup that helps you invest with guidance from friends and experts, has raised $10 million in new funding from GTC. (more…)

Cashless, Fintech news, p2p-payments

January 27, 2016

Deals: The Zebra, A “Kayak For Auto Insurance,” Grabs $17 Million

By Sarah Perez for Techcrunch.com,

Austin-based The Zebra, a startup that’s something of a “Kayak for auto insurance,” has been working to bring the process of shopping for insurance online, where consumers can more transparently compare quotes and understand how insurance companies determine rates. Now the company has raised an additional $17 million in Series A funding led by Ballast Point Ventures. (more…)

Deals, Insurance

January 27, 2016

796

Venmo Opens Its Payment Service To Third-Party Apps

By Jon Russel for TechCrunch,

Venmo, the peer-to-peer payment service operated by PayPal, has now become a payment platform after it opened up to third-party apps and services. (more…)

Cashless, Fintech news

January 27, 2016

706

Deals: Singapore’s Jewel Paymentech scores $1m series A funding

Impressive ecommerce growth spells nothing but good news to merchants, but it’s sometimes a headache for a lot of banks. That’s because if a merchant sells counterfeit goods, the bank gets swamped with complaints from consumers demanding their money back, or pays regulatory fines to intellectual property owners.

(more…)

Deals, Fintech news, news, Singapore

January 27, 2016

636

PayPal Shares Up 6% On Earnings; Revenue Rises 17%

By Katie Roof for Techcrunch.com,

PayPal reported earnings after the bell Wednesday, and the stock quickly ticked up 6% in after hours trading. (more…)

Cashless, eWallets, Fintech news, news, p2p-payments

January 27, 2016

UK becomes ‘cash-second’ nation as contactless payments soar

By Finextra news,

Britain has become a “cash-second” nation, claims Visa Europe, which saw an explosion in contactless payments drive an 11.5% rise in the number of transactions it recorded in the country last year. (more…)

Cashless, Fintech news, news

January 26, 2016

643

Indiegogo CEO Slava Rubin Moves To A New Role, To Be Replaced By Current COO

By Lucas Matney for Techcrunch.com,

There’s a major leadership shakeup happening at your second-favorite crowdfunding platform, Indiegogo. (more…)

Crowdfunding/investing, Fintech news

January 26, 2016

723

UK is the fourth most digital-ready country, according to Citigroup and Imperial College London

Report highlights progress in digital money adoption, explores the role of culture and human behaviour as drivers to change (more…)

About, Banks, Cashless, Fintech news, news, p2p-payments

January 26, 2016

799

Alipay data reveals why Shanghai is China’s greediest city

We knew that Alibaba was having a big year for mobile when sales via mobile made up nearly 70 percent of the company’s Singles Day haul. But now with the year over, Alibaba’s finance arm Ant Financial has released a bunch of interesting data on Alipay, Alibaba’s online payment platform, throughout 2015. The biggest headline: a full 65 percent of the money exchanged on Alipay in 2015 was sent via mobile. That’s up significantly from 2014, when mobile accounted for just under 50 percent of Alipay’s total business. (more…)

Analytics, Cashless, eWallets, Fintech news

January 26, 2016

598

Mobile payment transactions soar in US and UK

By Laura Noonan for Financial times

Mobile payment apps are soaring in popularity in the UK and US, but the world’s least developed countries are making almost no progress in the move to eliminate cash and cheque transactions that cost them billions of dollars annually. (more…)

Cashless, eWallets, Fintech news, Global trends

January 26, 2016

607

Biggest global banks at Davos: we’re all fintech innovators now

By Michael J. Moore, Ambereen Choudhury, Elisa Martinuzzi for Bloomberg business

Fintech was every banker’s buzzword at the World Economic Forum, as leaders of the world’s largest financial companies both touted the potential of new innovations and leaned on regulators to control the startups threatening parts of their business. (more…)

Banks, Fintech news

January 25, 2016

676

Deals: This Singaporean fintech startup just raised almost $1m, pre-launch

By Nadine Freischlad for Techcrunch.com

AlgoMerchant, a Singapore-based fintech company, has closed a S$1.3 million (roughly US$910,000) seed round led by East Ventures. The startup still operates in closed beta. It plans to use the funds to develop the product, accelerate user growth, and hire new people. (more…)

Deals, Fintech news, Singapore

January 25, 2016

NAB Launches Another “Pay”. What Does this mean for Apple Pay in Australia?

By Letstalkpayments.com,

The struggle for Apple Pay in Australia just got harder with NAB launching its new mobile payment service NAB Pay, which will enable customers to use their mobile phones to make purchases. Android-based device owners who have an account with NAB (NAB Visa Debit Card) can start using NAB Pay from today, available as part of the NAB Mobile Internet Banking App. NAB Pay is available wherever contactless payments are accepted. (more…)

Fintech news

January 25, 2016

768

Hong Kong’s Startup Scene Grows Up

By Josh Steime for Forbes. Josh is the CEO of MWI, a digital marketing agency with offices in the U.S. and Hong Kong.

When I arrived in Hong Kong in the summer of 2013 to open the first international office for my digital marketing agency, there was a small handful of startups in the city. Only a few were serious, while many were small websites or apps without a market outside Hong Kong’s relatively small market of 7 million individuals. (more…)

Cashless, Fintech news, Global trends

January 25, 2016

781

Lydia Becomes A Serious Alternative To Cash To Pay Back Your Friends In France

By Romain Dillet for techcrunch.com

French startup Lydia has come a long way. When I first covered it two years ago, it wanted to become a sort of Venmo for France. Now, Lydia tries to cover a wide array of use cases when it comes to sending or requesting money. Today’s update goes one step further. (more…)

Cashless, Fintech news, p2p-payments, Remittances

January 25, 2016

1010

Moneytree broke business barriers in Japan by speaking the language of fintech

By J.T. Quigley for TechinAsia.com

Starting a new business is hard. Starting a new business in a different country can be even harder. Starting a new business in a different country that requires the vast majority of domestic financial institutions to support it is damn near impossible. (more…)

Deals, Fintech news, InspirAsia, Japan

January 24, 2016

945

China to tighten regulations for booming internet finance to curb fraud

Chinese authorities are planning to tighten regulation of its fast-growing internet finance industry and crack down on illicit transactions, state media reported on Saturday, as the country works to rein in fraud on its online lending platforms. (more…)

China, Fintech news, Government activities

January 24, 2016

648

The Evolving Nature Of P2P Lending Marketplaces

By Matt Heiman for Techcrunch.com,

In March 2014, The Economist publishedBanking without banks, declaring that peer-to-peer (P2P) lending platforms were set to disrupt banks and other traditional sources of capital by directly connecting borrowers to individual lenders. (more…)

Fintech news, Global trends, p2p-payments, p2p/online lending

January 24, 2016

704

PayPal hopes to cash in on millennials’ love of Venmo

By Trey Williams for Market watch,

Since rolling out to the public in 2012, Venmo has been a peer-to-peer payment app. Millennials have taken to it as a way to send money and emoji to friends for meals, event tickets, bills, etc.

(more…)

eWallets, Fintech news, news, SME

January 24, 2016

1155

Portal lets maid take control of earnings sent home to Philippines

By Joanna Seow,

Remitting money home is sometimes a frustrating exercise for Filipino maid Nilda Sesaldo, 37.

(more…)

Fintech news, p2p-payments, Philippines

January 24, 2016

660

iAllocate Is A Robot That Helps You Invest Your Cash

By John Biggs for Techcrunch.com

Robots are everywhere. They help lawyers make decisions, they sweep up after our parties, and now they can help you figure out how to invest your money. In fact, an Atlanta-based company called iAllocate is using artificial intelligence to suggest where you should be stashing your millions. (more…)

About, Fintech news, InspirAsia

January 23, 2016