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861

Airbnb finalizes deal to buy social payments startup Tilt

By  for TechCrunch

Airbnb has finalized its deal to buy social payments startup Tilt, TechCrunch has confirmed. We reported on the acquisition talks last month, but now everything has been made official.

We are told that investors will be getting back about $12 million in cash, but the deal value is tens of millions of dollars higher if you include employee retention packages, which were paid for in cash and stock. Many of Tilt’s San Francisco employees including CEO James Beshara were asked to stay on board, but most of the remote team was not.

Airbnb is obtaining the Tilt assets and will keep the app operational, at least for now. But some sources are characterizing this as more of an acqui-hire, because Airbnb is spending most of the money on retaining the team.

While it’s better than shutting down, this was certainly not the dream outcome that Tilt investors had been hoping for when they invested over $60 million. Andreessen Horowitz, SV Angel and other big Silicon Valley names including Reddit co-founder Alexis Ohanian all made bets that Tilt would be a leader in mobile commerce.

Founded in 2012, Tilt was an early pioneer in peer-to-peer money transfers. It is geared more toward group payments than individual transactions, but in some ways competes with PayPal’s Venmo and Square Cash. It is also used for crowdfunding anything from “activities” to “causes,” which makes it an alternative to fast-growing GoFundMe.

The deal makes sense for Airbnb, because it is gaining top talent in the payments space, an area which could complement trip-booking. Airbnb has already built a big lodging business, but wants to expand its travel offerings. 

Airbnb’s VP of product, Joe Zadeh, has provided us with the following statement. “Airbnb and Tilt have a common vision for building community-oriented products that make it easy to bring people together. Tilt’s experience and expertise complement our ongoing efforts to transform the way people travel. By joining forces, we’ll reimagine how groups travel and enhance Trips, our new platform that brings together where you stay, what you do, and the people you meet all in one place.”

Airbnb, which has a valuation of $30 billion, has been using its clout to buy up smaller startups. They recently agreed to buy Luxury Retreats and in the past year have also acquired ChangeCoin and Trip4real. They’ve additionally been making investments in startups like Resy.

Airbnb itself is likely too expensive to be acquired, so there has been a lot of speculation about IPO possibilities. While this is an eventual goal of the company, we are hearing that they are unlikely to go public this year

First appeared at TechCrunch

Deals, Fintech news, p2p-payments

February 23, 2017

917

Now you can send money internationally through Facebook Messenger

By Mashable

Sending money on Facebook is finally international.  (more…)

Bots, Cashless, p2p-payments

February 23, 2017

1086

TransferWise launches Facebook Messenger bot for easy global money transfers

By  for VentureBeat

International money transfer service TransferWise has introduced a new Facebook Messenger bot, letting customers send money and create rate alerts directly from within Facebook Messenger. (more…)

Bots, Deals, Fintech news, p2p-payments, Remittances

February 21, 2017

873

Alibaba’s Ant Financial expands to Korea with $200M investment in Kakao Pay

By  for TechCrunch

Alibaba affiliate Ant Financial is making yet another M&A deal. The firm is investing $200 million into a fintech project belonging to Kakao, the $5 billion firm that runs Korea’s dominant messaging service. (more…)

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

February 21, 2017

852

Kevin the bot uses blockchain to offer insurance for P2P transactions

By Finextra

Madrid-based online reputation startup Traity has launched a chatbot that uses an “open blockchain balance sheet” to provide micro-insurance for people carrying out P2P transactions  (more…)

Blockchain, Bots, Fintech news, Insurance, p2p-payments

February 16, 2017

1117

From Asia to Africa: Why Wechat is a threat to Safaricom’s M-Pesa

By fabian lima for e27

M-Pesa changed the lives of underbanked Africans decades ago; Will Wechat Wallet drastically change the fintech landscape anew? (more…)

Analytics, eWallets, Fintech news, p2p-payments

February 9, 2017

1092

PayPal launches Slack bot for peer-to-peer payments

By  for VentureBeat

PayPal today launched its first bot for users of team messaging app Slack. The bot lets people send peer-to-peer (P2P) payments with the shortcode /paypal and a user’s Slack handle. Watch those keystrokes though: $10,000 can be sent in a single transaction, a PayPal spokesperson told VentureBeat in an email. (more…)

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

February 8, 2017

789

PayPal outlook muted on mobile competition, currency trends

By The Business Times

PayPal Holdings Inc offered a subdued outlook on Thursday, as it faced unpredictable currency fluctuations and an increasingly competitive digital payments market. (more…)

eWallets, Fintech news, p2p-payments

January 29, 2017

1110

Making a Difference with FinTech – Three Examples

By Elena Mesropyan for LTP

There is enough said about the scale of the FinTech industry, its inclusive agenda and massive surrounding ecosystem, but the real value of this industry is not in millions that are moving around in funding, expansion and acquisition deals. The value is measured in micro-processes, in the real, everyday difference FinTech startups make for small businesses and individuals. (more…)

Analytics, Government activities, Mobile payments/banking, p2p-payments, RegTech, SME

January 29, 2017

835

The ‘Socialization’ of Financial Services

By Elena Mesropyan for LTP

Peer networks play an important role in delivering financial services nowadays, bringing the element of social into traditionally corporate-dominated industries. (more…)

About, Global trends, Mobile payments/banking, p2p-payments, p2p/online lending

January 23, 2017

633

Alternative payments are a ‘victim’ of Brexit

By Kirsty Tull for PaymentsSource

As Brexit starts to pick up steam in the coming year, the the impact on banks and the payment processing industry remain to be seen and will likely be far reaching.

(more…)

Global trends, Government activities, Mobile payments/banking, p2p-payments

January 23, 2017

652

Payments startup Dwolla raises $6.85M more, debuts Access API

By  for TechCrunch

Some news today from Dwolla, the startup that competes with banks (but also works with them) to provide payments and money transfers with reduced fees by way of more efficient software. The company has raised another round of funding of $6.85 million, and at the same time it’s announcing the relaunch of its white-label API, which it is now calling Access API. (more…)

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

January 21, 2017

916

CashLess Payments to Drive LessCash Payments

By Vinod Sharma Finextra

Abstract – Essentially, digital cash mimics the functionality of paper cash. The elimination of physical cash from economy is feasible is purely a technological perspective or assumption. Our hard earned money and investments disappear into a labyrinth of financial instruments so mysterious that “money” almost becomes more of an idea than a tangible reality. (more…)

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

January 17, 2017

1075

Innovation under the hood will rev the engines of a fintech revolution

By  for TechCrunch

When the internet was first created in the 1970’s and 1980’s with the introduction of the ARPANET its early years were focused on the development of infrastructure and protocol — beyond the knowledge and far away from the consciousnesses of the general public. (more…)

Analytics, Banks, Cryptocurrencies, Fintech news, Global trends, Insurance, p2p-payments, PFM/PFP services

January 15, 2017

1381

Innovate or die: Top tech trends in banking

By  for TheNextWeb

Whether it’s social unrest or an economic downturn, it’s easy to blame banks when things go wrong. But banks have developed and survived over the course of thousands of years – the earliest bank prototypes were in Assyria around 2000 BC – because we need them for both our commercial and individual needs. (more…)

Banks, Blockchain, Bots, Fintech news, p2p-payments

January 14, 2017

805

Mobile Banking Gives a Big Boost To Kenya’s Poor

By Melvin Konner for The Wall Street Journal

Globalization and unrestrained technological change have plenty of critics, as the election in November amply showed. Many of my fellow anthropologists say that the positive effects of these twin trends have greatly benefited China but have left behind most of the global poor. A study conducted in Kenya and published in the journal Science in December tells a different story. (more…)

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

January 14, 2017

851

HSBC to stir up local rivalry with launch of P2P payments app in Hong Kong

By Finextra

HSBC is to launch a P2P mobile payment app in Hong Kong in early 2017, taking on established market operator Jetco. (more…)

Banks, Cashless, Fintech news, Hong Kong, p2p-payments

January 13, 2017

1119

1571

P2P Fintech Firms see Regulation in Indonesia

By CryptoCoinsNews

Indonesian Fintech companies that facilitate peer-to-peer (P2P) lending in the country have seen new regulation imposed by the Financial Services Authority. Known as the Otoritas Jasa Keuangan (OJK) locally, the government agency regulates and supervises the financial services sector in the country. (more…)

Fintech news, Government activities, Indonesia, p2p-payments

January 9, 2017

826

A P-to-P model taps into anti-bank sentiment as a differentiator

By John Adams for Payments Source

The growing number of P-to-P payment options, including Zelle and Venmo, typically rely on a link to a full-featured bank account to fund transfers. ChimpChange is looking at a different audience. (more…)

Fintech news, p2p-payments

December 25, 2016

945

When sexting meets social payments

By Bailey Reutzel for PaymentsSource

Payments are inevitably merging with social media, but the mix comes with a clear and very public risk if not handled correctly.

(more…)

Analytics, China, eWallets, Fintech news, Global trends, Mobile payments/banking, p2p-payments

December 17, 2016

829

Facebook just secured an e-money license in Ireland, paving the way for Messenger payments in Europe

By  for TechCrunch

Paving the way for friend-to-friend payments to come to Facebook Messenger in Europe (and after the functionality debuted in the U.S. all the way back in March last year), Facebook has quietly secured an e-money license from the Central Bank of Ireland. (more…)

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

December 8, 2016

894

P2P Payments: Migration From Apps to Media Channels

By Elena Mesropyan for LTP

The market of P2P payments is highly saturated, with every other freshly launched solution becoming another fish in a barrel. While some financial institutions are playing catch-up (launching competing payments apps) with the likes of Venmo and PayPal, others are moving to the next level by hopping from dedicated apps to P2P payments as features in multipurpose social media channels. The relevance of proprietary P2P payments apps fades away in face of all-in-one platforms that allow the same functionality in addition to the comfort of chatting, calling a cab and doing whatever else mighty ones like WhatsApp allow doing. (more…)

Fintech news, p2p-payments, Payment processors/providers/gateways

December 6, 2016

1040

ING pulls plug on P2P payments app Twyp

By Finextra

ING is to discontinue its P2P mobile payments app Twyp in the Netherlands after it failed to gain traction with customers. (more…)

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

November 29, 2016

1058

Singapore p2p lending platform MoolahSense gets full CMS licence from MAS

By Yon Heong Tung for e27

Singapore-based peer-to-peer (p2p) lending platform MoolahSense has announced today it has been awarded a full Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS). (more…)

Fintech news, Government activities, p2p-payments, Singapore

November 11, 2016

798

Many consumers don’t even know their banks’ mobile pay options

By Steve Shaw for PaymentsSource
Your most valuable and profitable customers are likely those who use mobile banking, bill pay and person-to-person (P-to-P) payments, according to recent Fiserv research. However, many consumers aren’t even aware their financial institutions offer those services.

About, Banks, Mobile payments/banking, p2p-payments

November 10, 2016

902

The battle for digital wallets: How far have we come? (Infographic)

By VentureBeat

In a look back at how mobile commerce had grown last year,VentureBeat pointed to one-touch payments — using products like Apple Pay, Android Pay, and One Touch (from Braintree’s parent company, PayPal) — as “the shopping invention consumers have long awaited” that “pushed the digital-shopping experience forward in 2015.” (more…)

eWallets, Fintech news, Global trends, p2p-payments

November 9, 2016

768

Payment companies that don’t share tech tools will fall behind

By Tony Ford for PaymentsSource

Even in the often-conservative financial industry, nearly every major player allows individual developers to access data streams and data sets. For example, Visa and MasterCard have dedicated developer sites where dozens of APIs can be accessed.

(more…)

About, Global trends, Mobile payments/banking, p2p-payments, POS/mPOS and online acquiring, Remittances

November 3, 2016

800

Paym hits £300m mark

By Finextra

Despite boasting that it has now processed over £300 million in transactions, UK bank-backed person-to-person mobile payments service Paym has seen a slowdown in the number of people signing up for its service. (more…)

Fintech news, Mobile payments/banking, p2p-payments

October 31, 2016

1084

Metals wants to solve payments for the unbanked with the bitcoin blockchain

By Justin Oconnell for Hacked

Hacked discussed with Marshall Hayner the evolution of his startup, called Trees. Once focused on  delivering marijuana by drone – a la Snoop Dogg’s big music via drone push – the service has since been put on hold as Hayner develops Metal, a consumer-friendly approach to melding the world of high-risk payments, rewards and blockchain technology. (more…)

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

October 30, 2016