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FinTech

Digital payments alone could become a $100 trillion industry, according to PwC. And that’s just one component of the global Fintech industry. This channel tackles the lenders and buyers, the obstacles and achievements, and the trends and trend makers leading the ongoing technological evolution in global finance.

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Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU

December 7, 2023

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers stand to receive up to 1 BTC as a reward when signing up and can earn an additional 1 BTC for each successful referral. The platform claims to be the sole custodial crypto platform in the EU offering customers a percentage of their trading volume back every month, paid in Bitcoin.

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More Stories on FinTech

FinTech: Marqeta And Deloitte Tie Up To Modernize Global Payments

January 24, 2023

Deloitte and Marqeta (NASDAQ: MQ), a global modern card issuing platform, have formed a strategic alliance to provide innovative payment solutions and accelerate the payment modernization efforts of banks, fintechs, and payments providers.

FinTech: Amazon And Stripe Agree To Expand Existing Relationship

January 24, 2023

Amazon (NASDAQ: AMZN) and Stripe have announced an expanded global partnership that will see the two companies deepen their long-standing relationship.

FinTech: Walmart Introduces “Walmart Business” For Small And Medium Businesses

January 23, 2023

Walmart (NYSE: WMT) has announced the launch of Walmart Business, an eCommerce site and customer experience designed specifically for small and medium businesses (SMBs) and nonprofits. The company has been working with SMBs and nonprofits to develop solutions that will help them run smoother, stay in control and in stock, and create efficiencies to operate and grow.

FinTech: Playter Announces Paid, A BNPL Scheme For SMBs In The UK

January 20, 2023

Playter, a provider of B2B Buy-Now-Pay-Later for small and medium-sized businesses in the UK, has introduced a new credit offering called “Paid.” The company’s mission is to help SMEs release cash flow for growth and investment by offering flexible financing options.

FinTech: Middle-East Focused BNPL Fintech Tabby Lands $58M Funding

January 19, 2023

BNPL fintech Tabby is active in Saudi Arabia, UAE, Egypt and Kuwait. Tabby, a leading BNPL shopping and financial services app in the MENA region, has raised $58 million in a Series C round led by Sequoia Capital India and including STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures, and Endeavor Catalyst. The funding values…

FinTech: Uber Eats And Visa Make A Join Effort To Promote Environmentally Friendly Restaurant Packaging

January 17, 2023

Uber and Visa have announced a new program to support small-and medium-sized businesses in their transition to green and sustainable packaging solutions. The program is also part of a broader effort to support small businesses that use Uber Eats to grow their businesses.

FinTech: Three-Way Collaboration Between Allianz Trade, Santander And Two For B2B BNPL Solution

January 13, 2023

A new global B2B Buy Now Pay Later (BNPL) solution is being developed by a three-way collaboration between Allianz Trade, a global leader in trade credit insurance, Two, the business-to-business (B2B) e-commerce payments platform, and Santander CIB (BME: SAN), one of the top trade finance banks in the banking sector.

FinTech: Canadian Fintech Nuvei To Buy Payments Provider Paya For $1.3B

January 13, 2023

Canadian business payments technology provider Nuvei Corporation (NASDAQ: NVEI) has agreed to acquire Paya Holdings (NASDAQ: PAYA), a provider of integrated payment and commerce solutions in the U.S., for about $1.3 billion in an all-cash transaction.

FinTech: Stripe’s Internal Valuation Is Cut By 11%

January 12, 2023

The Information reported that Stripe has chopped its internal valuation by about 11% to $63 billion. This is known as a 409a valuation and is not decided by investors looking to fund the company. A lower internal price may be beneficial to employees by lowering their cost of equity held in the company. This latest price is now $24.71.

FinTech: Walmart Readies For BNPL Fray Through Fintech Arm

December 9, 2022

One, a fintech majority-owned by Walmart (NYSE: WMT) is likely to enter the highly competitive Buy-Now-Pay-Later (BNPL) market amidst rising price pressures on shoppers and a challenging economic environment. One’s BNPL product is one that shoppers could use at both Walmart and other retailers.

FinTech: Brazil’s MercadoLibre To Process Business Payments On WhatsApp

December 8, 2022

Pedro Arnt, CFO at Latin American e-commerce retailer and fintech firm MercadoLibre (NASDAQ: MELI) is in discussions with Meta (NASDAQ: META) to process payments in Brazil on the latter’s WhatsApp messaging service.

FinTech: Curve Amasses $1B Funding To Scale Its Curve Flex Lending Business

December 7, 2022

Financial superapp Curve has secured a $1 billion loan facility from Credit Suisse (SWX: CSGN) to grow Curve Flex, its lending business, in the UK, the EU and the United States. Curve Flex enables users to better plan their cash flows and reduce borrowing costs.

FinTech: Sunbit Raises $250M Revolving Debt Facility

December 6, 2022

Sunbit has closed a $250 million revolving credit facility with an affiliate of Credit Suisse AG (SWX: CSGN), with access provided by Sector Financial, Inc., a Credit Suisse AG affiliate, and Waterfall Asset Management. The facility will enable Sunbit to power further growth for its Sunbit Card, a next-generation, no-fee credit card, and point-of-sale payment options offered at more than 16,000 service locations, including auto dealership service centers, optical practices, dentist offices, veterinary clinics, and specialty healthcare services.

FinTech: Global Fintech Intuit Acquires SeedFi, Which Helps Low, Or No-Credit Borrowers Build Credit

December 5, 2022

Following from a partnership struck last year between Intuit’s Credit Karma and SeedFi, the partner behind Credit Karma’s Credit Builder product, Intuit (NASDAQ: INTU) has now acquired SeedFi for undisclosed terms. SeedFi enables members make regular payments, starting with as little as $20 per month or $10 per paycheck. By reporting these payments to the credit bureaus, members took steps toward improving their financial health and increased their credit score.

FinTech: Monzo To Turn Profitable In 2023, Says CEO

December 2, 2022

“We will be profitable in the next financial year,” TS Anil said at the summit on Thursday, though Monzo reported pre-tax losses of £119mn for the 12 months to the end of February 2022 in the financial results it declared in July. Anil’s statement also marks a sea change from 2021, when auditors expressed “material uncertainties” over its ability to remain in business.

FinTech: 160-Year Old Poste Italiene Ties With Neobank AideXa For Digital Loans To SMBs

December 1, 2022

Poste Italiene (BIT: PST) has a 160-year old history, approximately 12,800 post offices, 121,000 employees, total financial assets of €586 billion and 35 million customers. Listed on the Milan Stock Exchange since 2015, the group’s BancoPost unit has announced a tie up with Italy’s largest neobank, Banca AideXa, for fast digital loans to small and medium enterprise customers and sole proprietorships.

FinTech: More Dental Patients Are Opting For Financing Offered By Sunbit

December 1, 2022

Dental treatment is one of the fastest growing verticals for fintech Sunbit, which provides financing for various everyday expenses that can be large enough to cause cash flow problems for most people. The financing facility offered by Sunbit is now available in over 6,000 dental locations, and in more than 550 DSOs, with more than 500 new offices being added each month. In addition, Sunbit’s technology is integrated with multiple platforms serving small- and medium-sized dental practices.

FinTech: Wise Reports Solid H1, Klarna May Be Profitable In 2023, And Revolut Eyes Japan

November 30, 2022

London-based fintech giant Wise plc (previously known as Transferwise) reported a total income of £416 million during the six months ended September, up 63% from the corresponding period last year. Revenue grew 55% to £397 million. Further, the adjusted EBITDA increased by 52 percent to £92 million with a margin of 22 percent, and it ended the period with a pre-tax profit of £51.3 million, which increased by 173 percent.

FinTech/ESG: Carbon Management App Cogo Partners With Digital Bank Tandem

November 28, 2022

Cogo is a carbon management expert that pairs its Carbon Footprint model with live banking data allowing a bank’s customers to track how much carbon is associated with their spending anywhere, anytime. Cogo has announced a partnership with digital challenger bank Tandem to initially feature on the bank’s green living hub, which offers practical advice, information and tools for customers. Cogo will integrate with the Tandem banking app fully in 2023.

FinTech: Expedia And Afterpay Tie Up To Offer BNPL For Travel

November 22, 2022

Indeed, according to a CNN article, travellers should get prepared for the most expensive holiday travel season ever. Average air fare is up about 40% from 2021, and rates for hotel rooms and rental cars have jumped 12% and 46% respectively from where they were in 2019. But travel demand, which was pent up during the pandemic, is still on the up and up and inching towards pre-pandemic levels. Fortunately, travellers reeling from the holiday sticker shock now have a BNPL option from Expedia and Afterpay.

FinTech: Cannabis Cloud Commerce Platform Treez Acquires Payments Processor Swifter

November 4, 2022

Treez, an enterprise cloud commerce platform that streamlines retail and supply chain operations within the cannabis market, has acquired Swifter, a YC startup from India that builds ACH APIs for cannabis merchants in the US. Swifter calls itself the “Stripe for Cannabis.” Treez said in a statement that Swifter was an attractive investment given its multi-location operating retail cannabis clients and Y Combinator background.

FinTech: Revolut Integrates Encrypted Chat Feature In Its Global Financial Superapp

November 3, 2022

Customers in the UK and EEA can now chat as well as share gifs and stickers whilst sending and requesting funds to and from other customers. Revolut has incorporated a messaging facility into its superapp, following a recent UK and European survey of 8,000 people that said two thirds of people (67.5%) find it difficult…

FinTech: Stripe Lays Off 14% Of Employees As It Faces “A Different Economic Climate,” And “Leaner Times”

November 3, 2022

“Today we’re announcing the hardest change we have had to make at Stripe to date. We’re reducing the size of our team by around 14% and saying goodbye to many talented Stripes in the process. If you are among those impacted, you will receive a notification email within the next 15 minutes. For those of you leaving: we’re very sorry to be taking this step and John and I are fully responsible for the decisions leading up to it.

FinTech: New Zealand Mulls Protection Against BNPL Debt Traps

November 2, 2022

Better checks are to be put in place to safeguard vulnerable BNPL consumers. New Zealand Commerce and Consumer Affairs Minister Dr David Clark announced that the Government intends to put in checks and balances in the Buy Now Pay Later (BNPL) financial innovation that allowed consumers to pay for their purchases in instalments. The primary…