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US merchants paid $88.39 billion in card fees in 2016

Credit, debit, and prepaid general purpose and private label cards issued in the United States generated $5.936 trillion in payments for goods and services in 2016. (more…)

Credit/Debit/Prepaid cards, Fintech news, Global trends, Hotnews

May 18, 2017

170

LendUp launches a better credit card for people looking to improve their credit

By Ryan Lawler for Techcrunch

LendUp has spent the last several years helping people who couldn’t get a loan build their credit and improve their financial well-being. Now the company is looking to empower those with little or no credit by giving them access to a credit card with low fees, financial education built in and incentives to spend less and pay off their balance. (more…)

Credit scoring, Credit/Debit/Prepaid cards, Fintech news, Global trends, Hotnews

May 18, 2017

193

Verse grabs $20.5M to take its p2p payments play beyond Europe

By Natasha Lomas for Techcrunch

Social payments app Verse has closed a $20.5 million Series B round of funding from its existing investors. The round is led by Spark Capital, with eVentures and Greycroft Partners also participating. It raised its Series A in October last year, when it took in $8.3M. (more…)

Deals, Fintech news, Global trends, p2p-payments

May 18, 2017

225

Fintech unicorn Transferwise moves into the black

Fintech unicorn Transferwise says the company has reached operational profitability six years after launch. (more…)

eWallets, Fintech news, Global trends, Hotnews, news, p2p-payments, Remittances

May 17, 2017

141

Online Lender Earnest Said to Be For Sale

According to a report by Bloomberg,Earnest is up for sale. The San Francisco based online lender is said to have an asking price of $100 million. Founded in 2013, Crunchbase reports Earnest has raised over $99 million not including an undisclosed sum in a VC round in January 2016 and $200 million of debt financing.

(more…)

Deals, Fintech news, Global trends, Hotnews, p2p/online lending

May 17, 2017

216

Trulioo Launches ID Document Verification With Facial Comparison Technology

By LTP

rulioo and Mitek join forces to offer a comprehensive global identity verification solution for fraud prevention and AML/KYC compliance (more…)

Fintech news, Global trends, RegTech, Security

May 16, 2017

176

ABN Amro’s payment app Tikkie passes half a million users

By ABN Amro

Less than a year after it was first introduced, pay-back app Tikkie has reached and passed the landmark of half a million users. This makes Tikkie the fastest-growing payment app in the Netherlands. (more…)

Banks, Fintech news, Global trends

May 16, 2017

195

A Simple Macroeconomic Case For Avoiding Lending Club

By Parke Shall

  • The case for avoiding Lending Club as an investment is pretty simple.
  • We’re at the end of an 8-year short term credit cycle that is going to put pressure on peer to peer lenders.
  • They will be first to feel the pain as delinquencies and defaults tick up.

(more…)

Fintech news

May 15, 2017

234

Credit Karma now helps users find unclaimed cash

by  for Techcrunch.com

Since being founded a decade ago, Credit Karma has worked to help users better understand their credit scores and improve their financial health. Today the company is launching a new product that helps find unclaimed money they might not even have known was owed to them. (more…)

Deals, Fintech news, Hotnews, RegTech, Security

May 15, 2017

303

Rabobank and Signicat launch Digital Identity Service Provider

Rabobank and Signicat are entering the Dutch identity market together by providing digital services to businesses, supporting them in servicing their clients. (more…)

Banks, Fintech news, Hotnews, Security

May 15, 2017

762

What China Reveals About the Future of Shopping

By Boston Consulting Group (Chris Biggs, Amee Chande, Erica Matthews, Pierre Mercier, Angela Wang, Linda Zou)

Imagine being in the middle of Times Square, surrounded by flashing lights, fast-talking vendors, street performers, live music, noisy traffic jams, and endless other distractions. Now imagine you’re online and surrounded by the same energetic chaos. Welcome to China’s digital marketplace, where shopping is an adventure—a fire hose of rapidly changing content, offers, products, colors, and choices. For Western shoppers accustomed to simple, transactional online buying, it’s a culture shock. (more…)

Analytics, Cashless, Fintech news, Global trends, Hotnews, InspirAsia

May 11, 2017

476

Mastercard, UnionPay, Visa Launch Standardized QR Code For E-Payments In Thailand

Mastercard, UnionPay International and Visa have introduced a Standardized Quick Response (QR) Code for payments, accelerating Thailand’s transition to a cashless society. (more…)

Fintech news, Hotnews, InspirAsia

May 11, 2017

397

India’s Alipay or WeChat Pay Could Be a Young Private Bank or Progressive NBFC

By Amit, CEO of LTP

In many parts of the world, tech companies (TechFins and FinTechs) are beginning to dominate the FinTech scene except India. BATs (Baidu, Alibaba and Tencent) and Internet finance in China dominate the market now. PayPal (Braintree and Venmo), Stripe and the likes of Prosper/Lending Club/Sofi have made serious inroads in the US although not to the same extent as China where internet finance cos have more customers than traditional banks in some segments. (more…)

Banks, Cashless, Fintech news, Hotnews, InspirAsia

May 11, 2017

280

Bitbond Gains $5.4 Million Debt Commitment and Undisclosed Equity Investment

By Julie Munh for Finovate

Peer-to-peer small business financing platform Bitbond announced today it has received a debt commitment from Obotritia Capital, which has agreed to fund $5.4 million worth of loans on its platform. Obotritia has also invested an undisclosed amount of equity in Bitbond, whose current funding now totals more than $2.14 million. (more…)

Blockchain, Fintech news, Global trends, Hotnews

May 11, 2017

282

Westpac Banking Corporation Case Study

Westpac Banking Corporation, one of the world’s leading commercial banks, was looking to differentiate itself in a prosperous and already digital-heavy economy.

The bank deployed a digital banking solution from Fiserv initially in Australia – its home market-where 10 million consumers and nearly 1 million businesses manage their money through the bank. (more…)

Analytics, Banks, Fintech news, Global trends, Hotnews

May 11, 2017

241

BNP Paribas to become startup bank for Parisian version of Silicon Valley

BNP Paribas is to locate its Plug and Play accelerator at Parisian startup campus Station F as part of a partnership programme that will see the bank become a first port of call to meet the financing needs of emerging technology firms at the site. (more…)

Banks, Deals, Fintech news, Global trends, Hotnews

May 11, 2017

267

N26 moves into savings market with Raisin API

Mobile-only banking platform N26 has partnered with Raisin to open access to savings accounts from banks across Europe. (more…)

Banks, Fintech news, Global trends, Hotnews, Mobile-first banks

May 11, 2017

259

Blockchain-based crowdfunder Waves joins Microsoft Azure

Waves, a Russian-made crowdfunding platform, is now available in the Microsoft cloud.

By expanding the capabilities of its Blockchain as a Service, Microsoft will enable millions of developers of blockchain solutions to quickly launch crowdfunding projects. (more…)

Crowdfunding/investing, Fintech news, Global trends, Hotnews

May 11, 2017

188

KPMG acquires fintech matchmaking firm Matchi

KPMG is looking to cash in on the growing trend for bank/startup collaboration with the acquisition of fintech matchmaking platform Matchi. (more…)

Deals, Fintech news, Global trends, Hotnews, InspirAsia

May 11, 2017

141

Kreditech raises €110M from Naspers’ PayU in strategic financing partnership

By Ingrid Lunden for Techcrunch

Kreditech, the German startup backed by Peter Thiel, Rakuten and the IFC that creates credit ratings and provides finance to people who may not otherwise have credit histories, has raised another round of funding from one of its strategic partners. PayU, the payments company owned by Naspers that is known by some as the “PayPal of emerging markets” — its business is mainly in providing payment services to online merchants — is investing €110 million ($120 million) in Kreditech. (more…)

Fintech news, Global trends, Hotnews, p2p/online lending

May 11, 2017

488

Blockchain and Supply Chain Finance: the missing link!

By Carlo de Meijer for Finextra

Whereas the focus on the use of blockchain long time has been on payments and securities, an important but still undervalued use case has been supply chain finance. But that is changing. The complexity and scale of existing supply chain finance solutions has posed major challenges in ensuring adequate funding and efficient operations.  According to some blockchain technology has the potential to be a game-changer for supply-chain finance.  Let’s have a look. (more…)

Blockchain, Cryptocurrencies, Fintech news, Global trends

May 9, 2017

172

3 Malaysian startups nab funding from 1337 Ventures

By e27.com

Malaysia’s 1337 Ventures has invested in three local startups selected through its Alpha Startups pre-accelerator program, which provides funding and mentoring opportunities for “ideation-stage” concepts. (more…)

Fintech news

May 9, 2017

283

MFI Myanmar Finance raises $1m debt from Maybank

Myanmar Finance International Limited (MFIL), a microfinance joint venture of AIM listed Myanmar Investments International (MIL), has raised an additional local currency denominated $1 million debt facility from Malaysia’s Maybank. The loan agreement was signed on May 3, according to their announcement. This will be a follow-on debt injection from Maybank after the MFI secured $1 million back in November 2016. (more…)

Banks, Fintech news, InspirAsia

May 5, 2017

Australian startup raises $2.2m to grow its robo-advisor business

Stockspot, a Sydney-based robo-advisor and fund management firm, announced today it has raised its series B round worth US$2.2 million. (more…)

Fintech news

May 5, 2017

233

Square reports $462 million in Q1 2017 revenue, gross payment volume of $13.6 billion

By Ken Yeung for Venture Beat

Square’s ($SQ) first quarter 2017 earnings are out, revealing that it generated total net revenue of $462 million, a 22 percent annual increase and an earnings per share loss of $0.04. It continues to see its gross payment volume increase, coming in at $13.6 billion — a 33 percent year-over-year increase, but a drop from last quarter’s $13.7 billion. (more…)

Fintech news, Hotnews, Influences FinTech, POS/mPOS and online acquiring

May 4, 2017

245

Micro-investing app Acorns moves into PFM territory

By Acorns

Micro-investing app, Acorns, today launched ‘My Finances’, a new feature for Australian customers that helps them better understand and control their spending habits. (more…)

Fintech news, PFM/PFP services, Wealth management

May 4, 2017

193

MarketInvoice joins UK FinTech Financial Crime Exchange

MarketInvoice, the world’s largest peer-to-peer online invoice finance marketplace, has joined the UK FinTech Financial Crime Exchange (FFE), a joint initiative by think tank RUSI and risk consultancy FINTRAIL, launched today. (more…)

Analytics, Fintech news, Global trends, Security

May 4, 2017

230

HSBC global banking and markets division deploys Fenergo

By Fenergo

Fenergo, the leading provider of Regulatory Onboarding, Entity Data Management and Client Lifecycle Management software solutions for institutional, corporate and private banks, has today announced that the HSBC Group has deployed its award-winning Client Lifecycle Management platform across its Global Banking and Markets division. (more…)

Fintech news

May 4, 2017

146

Intuit Taps Machine Learning For Freelancer Expense Management

As TechCrunch put it in its Tuesday (May 2) report, expense management for the self-employed “sucks.” (more…)

Fintech news, Global trends, Mobile payments/banking, SME

May 4, 2017