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Mobile payments/banking
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898

Digital Only Starling Bank Partners with SumUp, a Point of Sale Payments Fintech for Business

via Crowdfund Insider 

Digital-only challenger bank Starling Bank has partnered with SumUp, a mobile point of sale Fintech, to provide small merchants with access to faster settlements.

Starling Bank has created not only a digital bank offering but a digital marketplace where both businesses and individuals may access a growing array of 3rd party services. Other examples of approved 3rd party providers include the Department for Work and Pensions, Raisin UK and Fintechs Currency Cloud, Pockit, PelicanPay, and Vitesse. SumUp is the latest offering.

SumUp is said to be currently in use at over 1.5 million businesses. The terminals can be used with an accompanying app or via a standalone 3G card reader. (more…)

Banks, Mobile payments/banking, Mobile-first banks, POS/mPOS and online acquiring

July 30, 2019

1305

GrabPay Users Can Now Increase Transaction Limit to $SGD 30,000 After KYC Process

via Fintechnews Singapore 

Grab users will now be able to authorise the retrieval of personal data from MyInfo, a digital identity service from GovTech, to complete the verification process easily.

This comes after GrabPay became a relevant stored value facility (SVF), licensed and regulated by the Monetary Authority of Singapore (MAS).

As a regulated e-wallet, Grab is now required to perform customer identity verification on GrabPay users, in a process called KYC (Know Your Customer). (more…)

InspirAsia, Mobile payments/banking, Singapore

June 7, 2019

609

US mobile bank Chime raises $200 million, valuing its business at $1.5 billion

via TechCrunch

San Francisco-based mobile banking startup Chime announced it has raised an additional $200 million in Series D financing led by DST Global, valuing its business at $1.5 billion. The oversubscribed round also included participation from new investors Coatue, General Atlantic, ICONIQ Capital and Dragoneer Investment Group, along with existing investors Menlo Ventures, Forerunner Ventures, Cathay Innovation and others.

To date, Chime has raised approximately $300 million, including last year’s $70 million Series C, which then saw the company valued at $500 million.

With the new funding, Chime has now raised the most funding and has the highest valuation among other U.S. challenger banks.

(more…)

Mobile payments/banking, Mobile-first banks

March 4, 2019

Canadian SMEs want more digital payment options

By Payments Canada,

Small businesses in Canada are ready for more payment options, according to a new Payments Canada survey. Businesses want more choice for their customers at point-of-sale and more options for their back-office payments to suppliers and vendors, such as e-transfers, e-wallets and digital currencies. (more…)

Mobile payments/banking

March 16, 2018

1540

Mobile wallet growth in India

It seemed next to impossible when the thought of digitalizing the economy floated the market. India has always been a budding market and even today the country enjoys 97% of its transaction in cash. The situation was put to test in the market when the whole country which was banking on cash was forced to depend on other avenues as 86% of the cash in the market was withdrawn overnight. (more…)

eWallets, InspirAsia, Mobile payments/banking

March 14, 2018

2408

Fintech Alternative Banking Options (Infografic)

The traditional banking landscape has been dominated by the same banks for a considerable amount of time. The “Big Four”, combined with a few others, have created an oligopoly that remained unchallenged for years. The emergence of fintech and fintech companies represents a new threat to traditional banking and an increase in consumer choice. In fact 2017 saw more money invested in the UK fintech market than anywhere else in Europe, despite the concerns over Brexit. (more…)

Global trends, Hotnews, Mobile payments/banking, Mobile-first banks

March 12, 2018

1197

UK contactless mobile payments hit tipping point

Brits used their NFC-enabled mobile phones to spend nearly a billion pounds at the checkout last year, a 328% year-on-year rise, according to figures from Worldpay. (more…)

Hotnews, Mobile payments/banking

March 1, 2018

French Fintech Lydia Secures €13 Million in Latest Funding Round to Accelerate Cashless Payment Growth in Europe

Lydia, the French mobile payments firm, announced this week it has raised €13 million through its latest funding round, which was led by CNP Assurances with participation from XAnge, New Alpha AM, Oddo BHF and Groupe Duval. The company reported it plans to use the latest funds (which brings its total funding to €23 million) to continue acceleration of cashless payments in Europe. (more…)

Mobile payments/banking

February 19, 2018

1234

Alkami raises $70 million for mobile banking software

By Katie Roof for techcrunch

There’s a startup in Texas that’s been quietly building the technology that powers mobile banking apps. (more…)

Fintech news, Mobile payments/banking

January 9, 2018

2001

Tandem Bank unveils credit card

By Tandem

We’ve previously used the hyperbole of ‘big huge news’ during an earlier burst of, well, big huge news, and now we’re stuck for synonyms to announce anything else. (more…)

Banks, Hotnews, Mobile payments/banking

November 23, 2017

1641

Mobile payment and loyalty platform Yoyo Wallet integrates with Starling Bank

By Steve O’Hear for Tech Crunch

In another example of Starling Bank jumping on the Open Banking/PSD2 train before legislation in the U.K. and Europe next year will force banks to do so, it is launching its latest API partnership: this time with Yoyo Wallet, the U.K.-based mobile payment and loyalty platform. (more…)

Hotnews, Mobile payments/banking, Open Source/ API

November 23, 2017

1858

BancoEstado and SumUp to launch mobile card acceptance in Chile

by SumUp

SumUp, the leading financial technology provider, and BancoEstado de Chile, the largest national bank of Chile, today announce the launch of a joint venture offering mobile card acceptance to small businesses. (more…)

Banks, Hotnews, Mobile payments/banking, POS/mPOS and online acquiring

November 22, 2017

1223

Fintech startup Curve partners with accounting software Xero to make filing expenses ‘frictionless’

By Steve O’Hear for TechCrunch

Curve, the London fintech startup that lets you consolidate all your bank cards into a single card and track your spending, has partnered with accounting software Xero to remove much of the friction involved in filing expenses. The move is part of the newly-launched ‘Curve Connect’ feature that will see Curve connect to a growing list of third-party apps and services to make managing your money easier. (more…)

Fintech news, Hotnews, Mobile payments/banking

October 3, 2017

1461

IZettle rolls out invoice service in the UK

By IZettle

iZettle empowers small businesses to grow, helping them accept card and cash payments and manage their business operations, in addition to providing services such as small business funding. (more…)

Deals, Fintech news, Global trends, Hotnews, Mobile payments/banking, POS/mPOS and online acquiring

September 15, 2017

1594

Square applies for bank status

Square, the fintech startup headed by Twitter founder Jack Dorsey, has made an official application in the US for a banking license, ending months of speculation about its plans but also reigniting the argument about the use of industrial loans charters (ILCs). (more…)

Global trends, Hotnews, Mobile payments/banking, Payment processors/providers/gateways, POS/mPOS and online acquiring

September 8, 2017

1372

Brief: Singapore lags behind in online payments

The news (extracted from Today):

  • Ninety percent of Singaporeans surveyed by online payments giant PayPal say they prefer to use cash as their primary mode of payment, with only a small percentage using online payments regularly.
  • The preference for cash in Singapore was followed in popularity by other traditional payment methods such as bank transfers or internet banking at 74 percent, with 61 percent saying they prefer credit cards.
  • Despite these preferences, only 43 percent use cash regularly, citing problems such as having insufficient cash on hand and long queues at ATMs.

(more…)

Fintech news, Global trends, Government activities, Mobile payments/banking

August 31, 2017

1777

Klarna wins equity investment from Brightfolk

By Klarna

Klarna AB (publ) is pleased to announce that Brightfolk A/S, a company held by Anders Holch Povlsen, will acquire a strategic equity stake in the company. (more…)

Fintech news, Global trends, Hotnews, Mobile payments/banking, p2p-payments

June 8, 2017

2316

UK payments market: Contactless cards set to overtake cash in 2018

By Alex Rolfe

Rapid growth in the use of contactless cards means cash will be overtaken as Britain’s most frequently used payment method by the end of 2018, according to a new report. This latest forecast still does not herald the demise of cash – even in ten years’ time it is still expected to make up 21% of all payments. (more…)

Cashless, Hotnews, Mobile payments/banking

May 30, 2017

1986

M-Pesa Mobile Banking To Cover More Of Africa

Millions more smartphone users in Africa will now have access to basic banking services like borrowing and saving as the popular mobile financial service platform M-Pesa expands to cover more countries. (more…)

eWallets, Global trends, Hotnews, Mobile payments/banking

May 29, 2017

1943

IZettle launches order-and-pay app for independent cafes

By Izettle

Intelligentpos by iZettle, the leading provider of EPOS to the hospitality and retail industry, today launches Order & Pay, a mobile app that lets customers pre-order and pay for products prior to collection. (more…)

Mobile payments/banking, POS/mPOS and online acquiring

May 25, 2017

2503

Spending tops $20 trillion on global card networks in 2016 – Infographic

By Alex Rolfe for Payments Cards And Mobile blog

Global card purchase volume for goods and services, which excludes cash advances on credit cards and cash withdrawals on debit cards across the global card networks, grew by 5.8% to $20.606 trillion in 2016, according to The Nilson Report. (more…)

Credit/Debit/Prepaid cards, Fintech news, Mobile payments/banking, Payment processors/providers/gateways

May 22, 2017

1850

Ex-Tandem CTO onboard for Dubai-based digital bank

The former CTO of UK challenger Tandem has joined forces with experienced execs from the more traditional banking sector to build a digital-only bank in Dubai. (more…)

Banks, InspirAsia, Mobile payments/banking, Mobile-first banks

May 18, 2017

1800

PayPal partners with Android Pay for mobile payments

In news from the Google I/O the tech giant announced that they will partner Android Pay and PayPal for a mobile payments platform, the companies announced this morning. (more…)

Global trends, Hotnews, Mobile payments/banking

May 18, 2017

1917

Playing With The Band — mPOS And Cashless Concerts

By PYMNTS

It seems that mobile payments are finding perfect harmony with concertgoers. The latest mPOS Tracker™ catches up with Ben Taylor, COO of Front Gate Tickets, on how the company is using RFID technology to take concerts cashless. This issue digs into the many moves by mobile payment technology providers like Square, as they set their sights on new markets and new payment experiences. Find all that, plus rankings of 271 top players in the space, inside this month’s issue.

(more…)

Cashless, Hotnews, Mobile payments/banking

May 11, 2017

1857

ING joins Digicash family

By ING

ING is joining the DIGICASH family with the launch of its ING DIGICASH app in Luxembourg. (more…)

Banks, Bots, Global trends, Hotnews, Mobile payments/banking

May 9, 2017

1866

Biometric Mobile Payments Set To Explode In 2017

Mobile payments using biometrics to authenticate the user is forecasted to reach close to $2 billion in 2017, up from $600 million last year, according to new data from Juniper Research. (more…)

Bots, Global trends, Hotnews, Mobile payments/banking, Security

May 9, 2017

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

1713

Flux, a fintech startup founded by ex-Revolut employees, wants to make paper receipts obsolete

By Steve O’Hear for TechCrunch.com

Flux, a London-based fintech startup founded by three early employees of foreign exchange and banking app Revolut, is on a mission to make store receipts truly digital. (more…)

Deals, eWallets, Mobile payments/banking, Payment processors/providers/gateways

April 24, 2017

1793

Shopify ships card reader

Shopify Inc. (SHOP)(SHOP.TO), the leading cloud-based, multi-channel commerce platform designed for small and medium-sized businesses, today announced its new free Chip and Swipe card reader for in-person selling. (more…)

Global trends, Hotnews, Mobile payments/banking

April 21, 2017

1769

Banking tech platform Meniga secures €7.5 million in new funding

Digital banking technology startup Meniga has announced a funding round of €7.5 million from Industrifonden. Velocity Capital, Frumtak Ventures, and Kjolfesta also participated. (more…)

Banks, Fintech news, Mobile payments/banking, PFM/PFP services

April 12, 2017