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260

Mastercard and Visa battle over Revolut deals

via FinTech Futures 

UK challenger Revolut will be launching its US card with Mastercard by the end of this year. However, the fintech will also be primarily issuing Visa-branded cards in its global expansion.

Revolut will use Visa to expand in 24 new markets, for a total of 56 around the world and simultaneously partner with Mastercard for at least 50% of existing and future cards issued in Europe (Visa will have the other half), according to a statement.

The fintech uses its licence with Lithuania’s central bank to service Europe, but it will have to partner with a US-licensed bank when it starts rolling out cards to US citizens. (more…)

Banks, Global trends, Mobile-first banks

October 22, 2019

1096

Step raises $22.5 million to help teens manage their money

via VentureBeat

Step, a financial services startup that offers fee-free money management accounts to teens, today announced that it has secured $22.5 million in a series A round led by Stripe, with participation from existing investors Crosslink Capital, Collaborative Fund, and Sesame Ventures. The round — which also saw contributions from Will Smith’s Dreamer’s fund, hip hop musician Nas, consumer tech holding company WndrCo, former NFL player Ronnie Lott, Matt Rutler, Kevin Gould, and Noah and Jonah Goodhart — brings Step’s total raised to over $25 million. CEO and cofounder CJ MacDonald said the new funds will be used to expand Step’s offerings, workforce, and user base. (more…)

Banks, Mobile-first banks, PFM/PFP services

June 6, 2019

937

YouTrip, a challenger bank in Southeast Asia, raises $25.5M for expansion

via TechCrunch

Singapore-based startup YouTrip thinks consumers of Southeast Asia deserve a taste of the challenger bank revolution happening in the U.S. and Europe, and it has raised $25.5 million in new funding to bring its app-and-debit-card service to more parts in the region. (more…)

Banks, Fintech news, InspirAsia, Mobile-first banks, Singapore

May 16, 2019

1787

Deals: Revolut Gets More Funding For Its Mobile Foreign Exchange Service

By Romain Dillet for techcrunch.com,

British startup Revolut just closed its seed round. After announcing having raised $2.3 million this Summer, the company has added a couple of new investors. In total, the company has raised $4.8 million (£3.2 million) from Index Ventures, Balderton Capital, Seedcamp and Point Nine, Venrex and business angels. (more…)

Deals, Fintech news

February 27, 2016

2001

Singapore’s fin-tech startup Toast raising US$750K seed

E27CO: Singapore-based fin-tech startup Toast is raising a US$750,000 seed round, with half the funds already committed, e27 has learned. The Startupbootcamp (Fintech Singapore) incubated startup founded by British entrepreneur Aaron Siwoku, which just relaunched following a rebranding from Cryptosigma last week, has already received S$24,500 (US$18,000) in return for an eight per cent equity stake from the accelerator.

(more…)

Fintech news, InspirAsia, news, Remittances, Singapore

July 8, 2015

1805

India’s cashless proposal could spur mobile payments

MOBILEMAKERS: The Indian government published proposals to encourage greater take-up of electronic payments in a country where cash still rules.It suggested a range of measures, including tax benefits to merchants if at least half of their transactions are handled electronically. Consumers could also receive income tax rebates if a certain proportion of their spend is cashless. Another idea is for government itself to drop certain surcharges it levies for making card payments.Among the objectives are improving financial inclusion, reducing the risks for individuals of carrying cash, cutting the cost of managing cash in the economy, as well as making tax avoidance harder.

(more…)

Global trends, Government activities, India, InspirAsia

June 23, 2015

1877

Westpac and ANZ Experiment with Ripple

Coindesk: Two of Australia’s ‘big four’ banks, Westpac Banking Corporation and the Australia and New Zealand Banking Group, are experimenting with peer-to-peer transfers on the Ripple protocol.

The news, revealed by The Australian Financial Review, follows last month’s announcement that the Commonwealth Bank of Australia (CBA) – another ‘big four’ rival – is trialling the tech for transfers between its subsidiaries. At the time, CBA’s chief information officer David Whiteing described distributed protocols as “the way of the future”.

(more…)

Cryptocurrencies, Fintech news, news

June 11, 2015

1545

Danish Shops To Be Given Right To Refuse Cash

FINEXTRA: Denmark’s government is planning to help usher in the long-awaited cashless society by giving restaurants, gas stations and some shops the option to refuse notes and coins. Read more (more…)

Fintech news, news, p2p-payments

May 7, 2015

1626

Mastercard And Microsoft’s Micro Merchant Innovation

PYMNTS: MasterCard and Microsoft have announced a partnership to support Mexico’s economic development. The companies support the foundation of the national economy – micro merchants — with complex projects, innovative technological, communication and payment tools. The partnership is said to be aimed at encouraging the use of electronic payments, as well as legitimacy and formality of technology products and services.
(more…)

Fintech news, news

March 9, 2015