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1028

This Sleek Electric Tuk-Tuk Is Designed To Battle Traffic In Your City

FAST COMPANY: Tuk-tuks might be everyday, ubiquitous transportation in Nairobi or Phnom Penh, but can these tiny three-wheeled taxis also find a place in sprawling, car-obsessed cities like L.A. or Atlanta?

(more…)

Fintech news, Influences FinTech, InspirAsia

June 11, 2015

959

European Mobile Payment Startup SumUp Discloses A Total $45M In Funding

TECHCRUNCH: In the rush of companies crowding into the mobile payment space, a startup out of Europe has announced more funding to grow its footprint and add contactless hardware.SumUp, a startup originally founded in 2012 in Berlin that competes against the likes of iZettle and Rocket Internet’s Payleven, has raised an undisclosed amount led by Swiss backer Venture Incubator. The exact figure is not being disclosed, but SumUp’s CEO Daniel Klein confirms that the total raised by the company to date is now $45 million (€40 million) and that this latest round values the company in the “healthy hundreds of millions.”

(more…)

Deals, Fintech news, POS/mPOS and online acquiring

June 10, 2015

878

PayPal’s One Touch Instant Web Checkout Service & Stripe’s New iPhone App

TECHCRUNCH: As PayPal moves closer to its spinoff from parent eBay, the company continues to expand the services it will have to generate revenue as a standalone business. In the latest development, today PayPal is expanding One Touch on the web — a widget that lets people use PayPal to pay for goods on third-party websites without needing to re-enter passwords or their user IDs — outside of the U.S. The first markets for its international rollout will be the Canada and the UK. (more…)

Fintech news, news, POS/mPOS and online acquiring

June 9, 2015

725

Apple Pay To Land In The UK In July & Why Android Pay Will Succeed Where Google Wallet Failed

WIRED: Apple Pay, the payments service that allows for contactless payments in stores and one-touch payments in apps, is finally launching in the UK. (more…)

eWallets, Fintech news, Mobile payments/banking, news

June 8, 2015

859

South Korean Team Takes $2 Million Top Prize At DARPA Robotics Challenge

Fastcompany: South Korean Team Takes $2 Million Top Prize At DARPA Robotics Challenge. DARPA wants to inspire the creation of robots capable of disaster recovery. But there’s a long way to go and a lot of work still to do.

(more…)

Fintech news, InspirAsia, Korea, news

June 8, 2015

589

When Will European Fintech Startups Grow Up?

TECHCRUNCH: Fintech, the home of the fabled unicorn, is hot. There are now 36 fintech unicorns in the wild, which is up 25 from 11 over the last year. This staggering growth is a reflection of the hype around fintech, where a plethora of startups are using technology to compete against or collaborate with established financial players. The result is a dramatic increase in company valuations as investors look to get in on the ground floor of the next big thing. (more…)

Fintech news, news

June 2, 2015

732

Brazil’s Nubank Raises $30M Led By Tiger To Build Out Its Mobile-Based Credit Card Business

TECHCRUNCH: Brazil is one of the world’s fastest growing mobile markets, with 90 million smartphones in circulation among a population of about 200 million, and today a fin-tech company that has focused on catering to that growing group of users has raised a significant round of funding.

(more…)

Fintech news, Mobile payments/banking

June 2, 2015

878

Crowdfunding For Small Firms

The Economist: Crowdfunding is just one of a number of ways in which European SMEs, typically far more reliant on bank financing than their American counterparts (see chart), are trying to compensate for the continuing decline in bank lending. Others include issuing publicly tradable debt or equity; placing securities privately with institutional investors; and accepting loans from non-bank financial institutions (“shadow banks”). Banks and others are also securitising loans to SMEs (ie, pooling them, dividing the pool into tranches with different degrees of risk, and selling the resulting securities to investors). Governments are keen to promote all this, to limit the economic harm done by sickly banks.  (more…)

Crowdfunding/investing, Fintech news, news

June 1, 2015

1459

The Unbundling Of Finance

TECHCRUNCH: While remittances open the door for growth, that possibility pales in comparison to the larger opportunity for Facebook — offering a way for people who don’t use banks now to do e-commerce. According to McKinsey, there are 2.5 billion people globally who do not use formal banks or finance institutions. Their economies are almost entirely cash-based and suffer from the chicken-and-egg problem: Since no one is willing to convert cash into digital form, there is no incentive for merchants to accept electronic payments. With nothing to sustain a system of electronic money, the cycle continues. (more…)

Analytics, Fintech news, Global trends, news

May 30, 2015

1280

Path sells to South Korean Internet company Daum Kakao

Mashable: South Korean messaging company Daum Kakao has acquired social networking apps Path and Path Talk for an undisclosed amount. Path announced the deal Thursday evening.  (more…)

Deals, Fintech news, InspirAsia, Korea, news

May 29, 2015

811

Airbus Group Starts $150 Million Venture Fund, Silicon Valley Base

REUTERS:  Airbus Group announced the creation of a $150 million venture capital fund and said it had hired a Google executive to run a new center in Silicon Valley as it seeks to wave a digital wand over its heavy-manufacturing culture.

(more…)

Fintech news, Influences FinTech

May 29, 2015

1105

Google Takes Another Shot At Mobile Payments With Android Pay

TECHCRUNCH:  At its I/O developer conference today, Google announced Android Pay, a new payments solution native to its mobile operating system. In addition to making it easier to pay at a merchant’s point of sale via NFC, the new system lets merchants integrate payments directly into their apps for selling physical goods and services using an Android Pay API rather than integrating a third-party provider like Venmo or PayPal. (more…)

Fintech news, Mobile payments/banking, news

May 28, 2015

1401

Why Does Kenya Lead The World In Mobile Money?

The Economist: Paying for a taxi ride using your mobile phone is easier in Nairobi than it is in New York, thanks to Kenya’s world-leading mobile-money system, M-PESA. Launched in 2007 by Safaricom, the country’s largest mobile-network operator, it is now used by over 17m Kenyans, equivalent to more than two-thirds of the adult population; around 25% of the country’s gross national product flows through it. M-PESA lets people transfer cash using their phones, and is by far the most successful scheme of its type on earth. Why does Kenya lead the world in mobile money? (more…)

Fintech news, news, Remittances

May 27, 2015

889

Business Currency Exchange Startup Kantox Raises $11M Series B

TECHCRUNCH: Another London-headquartered fintech startup, albeit one with a development and marketing team in Spain, has raised more capital of its own. This time it’s the turn of Kantox. The currency exchange marketplace for SMEs right up to ‘mid cap’ companies has raised $11 million in Series B funding. (more…)

Deals, Fintech news, news

May 27, 2015

1441

Mobile-Money Systems: M-PESA And Monese

The Economist: Paying for a taxi ride using your mobile phone is easier in Nairobi than it is in New York, thanks to Kenya’s world-leading mobile-money system, M-PESA. Launched in 2007 by Safaricom, the country’s largest mobile-network operator, it is now used by over 17m Kenyans, equivalent to more than two-thirds of the adult population; around 25% of the country’s gross national product flows through it. M-PESA lets people transfer cash using their phones, and is by far the most successful scheme of its type on earth. Why does Kenya lead the world in mobile money? (more…)

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

May 27, 2015

897

Banks Gear Up To Piggyback On The e-Commerce Wave

E27.CO: With e-shopping on the rise, there is a paradigm shift in the traditional payments scene, giving a huge setback to banks’ fee income (more…)

Fintech news, India, InspirAsia, Mobile payments/banking

May 26, 2015

860

GoCardless Founder Tom Blomfield’s New Startup Is A “Full Stack” Mobile-First Bank

TECHCRUNCH: We already knew that GoCardless co-founder Tom Blomfield was working on a new U.K. banking startup, but now, thanks in part to a noisy series of Tweets from investors, developers and the company’s own Twitter account, more details have emerged. Dubbed Mondo, the startup is described as a “full stack” and mobile-first bank, in reference to the fact that it isn’t simply a mobile app piggybacking existing banking software or an existing bank in order to offer a better User Experience. Instead, my understanding is that the company’s plans and accompanying technology is considerably more ambitious. (more…)

Fintech news, Mobile-first banks, news

May 26, 2015

876

Turkish Online Payment Company And Stripe Competitor Iyzico Closes $6.2 Million Series B

TECHCRUNCH: Turkey’s Iyzico, which provides a platform to let e-commerce sites and other apps easily accept online payments, has raised a $6.2 million Series B. Leading the round is International Finance Corporation (IFC), the World Bank’s investing arm, while Istanbul-based VC 212, Endeavor Catalyst, and Austria’s Speedinvest also participated. The startup has now raised $9.4 million in total since it was founded in 2012. (more…)

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

May 26, 2015

948

The Stratos All-In-One Credit Card Isn’t Perfect Enough

TECHCRUNCH: The anxiety hasn’t worn off yet. I’ve used the Stratos credit card for three weeks now and I’m still unsure if it will work for every transaction. It makes me nervous. That’s a problem for a device that promises to consolidate credit cards. For now, until the anxiety subsides, I’m carrying the Stratos card and all of my plastic cards and that defeats the point.  (more…)

Fintech news, news

May 26, 2015

883

Can Earnest Convince Graduating Millennials To Talk About (Gulp) Their Finances?

FAST COMPANY: Nothing says “congratulations on your graduation” like an email from your student loan servicer reminding you that your first payments will soon be due. (more…)

Fintech news, news

May 26, 2015

1134

The Remittance Market: Bitcoin and MasterCard Send

TECHCRUNCH: Bitcoin’s most disrupting feature is its decentralized architecture. Indeed, bitcoin relies on a P2P network of computers to proceed money transfers. Each part of the network works to create new bitcoins (‘mining’), keep the network alive and validate transactions. All the transactions are registered in the blockchain that is used to validate a transaction using cryptography technology: it ensures that you can’t use a bitcoin you don’t own or you don’t use the same bitcoin more than once. This last action previously required a third party, but with bitcoin this is not the case anymore: the network replaces financial institutions and banks. (more…)

Cryptocurrencies, Fintech news, news, p2p-payments, Remittances

May 25, 2015

1063

Level: Can A Budgeting App Change The Way We Bank?

Forbes: “Level is dedicated to rewriting the financial rulebook to create a secure future for the next generation.” That’s budgeting app Level Money’s stated mission, which can be found on their website’s “About Us” page. But even as lofty as that objective sounds, co-founder and CEO Jake Fuentes says the company’s sights are set even higher. (more…)

Fintech news, news, PFM/PFP services

May 22, 2015

2202

P2P Lending: How digital lending marketplaces are disrupting the predominant banking model

Business Insider: Banks have historically handled most consumer and small business lending because they have the resources to assess a borrower’s creditworthiness, and the regulatory approval to fund loans. However, this model has some key inefficiencies – interest rates are not individualized, the costs of underwriting loans are high, loan decisions can take months, and small businesses in particular have been shut out of the process. (more…)

Fintech news, news, p2p/online lending

May 22, 2015

1607

VC Life.SREDA Gets Huawei Senior Exec On Board For Its InspirAsia Accelerator

TECHINASIA: Recently landed in Singapore, Russian venture capital Life.Sreda today announced it has hired Huawei’s former global head of operations and COO of cloud business Victor Chow as CEO of its InspirAsia startup accelerator. From his new position, he will be overseeing accelerator development and the launch of the acceleration program. (more…)

Fintech news, Hotnews, InspirAsia, Singapore

May 21, 2015

1024

PayPal CEO Dan Schulman, “We Have A Lot Of Work Ahead Of Us”

TECHCRUNCH: Digital commerce company PayPal is moving to establish itself as “more than just a button” to a global payments platform as it readies a split from parent company eBay later this year. “We’re coming into the market at a time when the financial services industry is going through some fundamental shifts,” new PayPal CEO Dan Schulman said at PayPal’s Commerce: Rewind event today. “We’re really thinking how do we re-imagine PayPal almost as a service. PayPal as a SaaS platform.” (more…)

Fintech news, news, POS/mPOS and online acquiring

May 21, 2015

1194

Tablet-Based Cash Registers And Pre-Ordering

IPO of Shopify, value of OpenTable, new releases from Groupon and LevelUp, best results of Starbucks, 5 startups from Indonesia

(more…)

Fintech news, news

May 21, 2015

791

Big Banks Flock To London’s Financial Start-up Hub

An article about the largest European fintech incubator hosting over 173 (!) companies. Major banks, for example, UBS, and technology vendors IBM and Microsoft collaborate with the incubator. Chinese e-commerce giant Alibaba has just moved into one building with Level39 (more…)

Fintech news, news

May 20, 2015

833

Stripe In Talks For New Funding At A $5 Billion Valuation

TECHCRUNCH:  API-for-payments startup Stripe is raising a new round of funding, according to sources with knowledge of the talks. One source with direct knowledge of the talks tells us that one of the leading investors in the deal is Yuri Milner’s DST Global. (more…)

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

May 20, 2015

2653

P2P Lending Startups That Are Trying To Destroy The Banks

Business InsiderChallenger bank Metro Bank has just struck a deal with Zopa, one of the UK’s biggest peer-to-peer consumer lenders, to lend money over Zopa’s platform. The amount lent wasn’t disclosed but a source told Business Insider that it was around “millions a month”. (more…)

Fintech news, news, p2p/online lending

May 19, 2015

1412

The Rising Opportunities In Fintech In Asia

CIO ASIA: In early May this year, Russian fintech Venture capital firm, Life.SREDA VC, moved its operations to Singapore from Moscow. To mark this move and to announce the launch of an accelerator, InpirAsia, the company invited the internationally-renowned expert in financial services Reggy de Feniks. (more…)

Fintech news, Hotnews, InspirAsia, Singapore

May 18, 2015