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February, 2016
Archive

UN Paper: Pushing Bitcoin for Third World Issues Can Be ‘Techno Colonialism’

By Daniel Palmer for Coindesk,

A new UN working paper argues that the bitcoin community has a tendency towards “techno-colonial solutionism” and “techno-libertarian evangelism” in proposing the digital currency as a solution to issues in the developing world. (more…)

Banks, Blockchain, Cryptocurrencies, Fintech news

February 12, 2016

2029

Deals: Personal finance website partners OCBC to offer home loan with a rate of 1.63%

By Rachel Boon for StraitsTimes,

SINGAPORE -Personal finance portal MoneySmart.sg will offer an OCBC Bank home loan for a limited period. (more…)

Banks, Deals, Fintech news, Japan, Mobile-first banks, SME

February 12, 2016

Deals: Visa discloses big stake in Jack Dorsey’s Square

By Paul La Monica for CNN Money,

Visa, the credit card processing giant famous for that marketing slogan, disclosed in a SEC filing late Thursday that it now owns a 9.99% stake in the class A shares of Square, the mobile payments startup co-founded by Twitter CEO Jack Dorsey. (more…)

Cashless, Deals, Fintech news, POS/mPOS and online acquiring

February 12, 2016

2192

How Alibaba is helping Paytm think differently about ecommerce in India

By Meghna Rao for TechinAsia.com

Paytm has had a unique approach to ecommerce in India. Originally launched as a site for mobile phone top-ups in 2010, the name is an abbreviation for “pay through mobile”. It soon pivoted to become an online wallet and, four years later, it launched an ecommerce site. (more…)

Cashless, China, eWallets, Fintech news, InspirAsia, SME

February 11, 2016

1359

Lending Club Posts Second-Ever Profit as Revenue Doubles

By PETER RUDEGEAIR and AUSTEN HUFFORD for Wall street Journal

Peer-to-peer lender’s loan originations jump 82% (more…)

Fintech news, p2p/online lending

February 11, 2016

1548

BBVA Shuts In-House Venture Arm, Pours $250M Into New Fintech VC Propel Venture Partners

By Ingrid Lunden for techcrunch.com

BBVA — the Spanish banking giant that acquired Simple in the U.S. and last year made a$67 million investment in still-stealth mobile-only bank Atom in the UK — is changing up how it plans to invest in fintech startups in the future. (more…)

Deals, Fintech news, Global trends, news

February 11, 2016

1511

RealtyShares Raises $20 Million For Its Real Estate Investment Marketplace

By Jonathan Shieber for Techcrunch

Less than a year after it closed a $10 million round of financing, the real estate investment marketplace RealtyShares has managed to rake in another $20 million for its funding platform. (more…)

Crowdfunding/investing, Fintech news

February 10, 2016

Alibaba’s wallet app to give away $120m in live TV tie-up

By Steven Millward for TechinAsia.com

Alibaba and its mobile wallet app Alipay will give away US$120 million to viewers of the Chinese New Year TV extravaganza in China on February 7. (more…)

Cashless, China, Fintech news, InspirAsia, p2p/online lending

February 10, 2016

1190

Fintech Is Just Getting Started

By Alan Carlisle for Techcrunch.com,

In just the first week of trading in 2016, the S&P 500 lost 6 percentage points and more than one trillion dollars in market capitalization. With the worst start in more than a century, the markets seem to be predicting a slow period for the U.S. economy. (more…)

Fintech news, Global trends, SME

February 10, 2016

FinTech Buyers Club: Who Invests in FinTech Startups?

By LetsTalkPayments, Sofia,

As one may have noticed, the FinTech fever is spreading around the world at an outstanding pace. Tech companies, banks and players that are not even related sometimes are catching the rush to get involved with the most promising startups in fear of becoming irrelevant. (more…)

Banks, Deals, Global trends

February 9, 2016

1670

Deals: India’s Paytm Is Raising Another $400M To Build Out Its New Payment Bank

By Pankaj Mishra for techcrunch.com

Alibaba-backed Paytm, one of the bigger e-commerce startups competing against Amazon in India, is raising money again, just months after a reported $680 million round. Sources close to the company say that Paytm is now looking to raise $400 million by June to help with the launch of Paytm’s new payments business, Paytm Payment Bank. (more…)

Cashless, Deals, eWallets, Fintech news

February 8, 2016

The Rich Are Already Using Robo-Advisers, and That Scares Banks

Fintech news, Global trends

February 5, 2016

Digital money, negative rates as Gosplan 2.0

By Izabella Kaminska for Finantial Times,

UBS’s Paul Donovan offered some thoughts earlier this week on the unintended consequences of negative rate regimes, which — whilst interesting — stimulated a different thought in us related to data. (more…)

Banks, Fintech news

February 5, 2016

1484

China’s P2P lending crisis: second major bank pulls support for payment to P2P lending sites

By C.Custer for TechinAsia.com

On Monday, I wrote that the high-profile Ezubao Ponzi scheme case was likely to have a negative impact on China’s entire P2P lending industry. It looks like that’s already happening. On Wednesday, Sina Tech reported China Merchants Bank has notified third-party e-payment platforms that starting Friday, it will no longer support payments to P2P lending services. (more…)

China, Fintech news, InspirAsia, p2p-payments, p2p/online lending

February 4, 2016

1794

Why a former trust company launched a digital-only bank

By Mary Wisniewski for the American Banker Magazine,

Rather than partner with a neobank, a more than 45-year-old Canadian financial services company chose to build a digital-only brand to acquire retail customers and to control the user experience. (more…)

Banks, Fintech news, Mobile-first banks

February 4, 2016

China’s Biggest Ponzi Scheme Shows Rot in Internet Financing

By Bloomberg news,

Almost overnight, Ding Ning and Zhang Min struck it rich with the hot new thing in Chinese finance. In 18 short months, they transformed an old-line industrial company into an Internet phenomenon through the seeming magic of peer-to-peer lending. (more…)

China, Fintech news, InspirAsia

February 3, 2016

1451

Square’s Apple Pay Reader Is Going on Sale at Apple Stores

 

By Cade Metz for Wired magazine,

SQUARE IS NAMED after its credit card reader, which lets merchants accept payments through an iPhone. But in the fall, the company took a new turn, offering a device that also accepts payments made from an iPhone. And now, this device is going on sale at Apple stores.

(more…)

Cashless, Fintech news, POS/mPOS and online acquiring

February 3, 2016

World’s top 100 corporations are in on startup revolution: 500 Startups-INSEAD study

by Liz Lee for DealstreetAsia.com,

A notable 68 per cent of the top 100 companies named in the Forbes Global 500 list are engaging with startups, evident that large corporations are paying attention to the smaller, more innovative companies. (more…)

Banks, Deals, Fintech news, Global trends

February 3, 2016

1362

Singapore bank OCBC joins fintech boom with startup incubator

By Michael Tegos for TechinAsia

Fintech startups in Singapore now have one more place to turn to for help in developing their ideas and seeking funding and partnerships: Singaporean bank OCBC today announced its new fintech “innovation center,” called The Open Vault at OCBC. (more…)

Banks, Fintech news, Global trends

February 1, 2016