Indian fintech PhonePe names Ritesh Pai as CEO of international payments
Pai joins PhonePe from TerraPay, where he served as president of product and solutions for three years.
Business-to-Consumer/B2C
Blackstone set to acquire majority stake in Japan’s Sony Payment Services
Sony Bank will roll over a certain portion of its equity and continue to remain a minority investor in SPSV.
HSBC unveils new international payments app Zing in the UK
Zing is a multi-currency app and debit card that UK residents will be able to use in more than 200 countries.
BNPL fintech Tabby lands $700m debt facility from JP Morgan
Tabby has also extended its Series D funding round by $50 million to a total of $250 million.
US neobank Chime appoints Shara Chang as chief compliance officer
Chang brings 15 years of financial services, fintech and consumer protection experience to her new role.
Credit Karma co-founder Nichole Mustard reportedly departs firm
Mustard founded the firm in 2007 with Ryan Graciano and Kenneth Lin.
Saudi BNPL fintech Tamara lands $340m Series C funding at $1bn valuation
Tamara says the Series C is “among the largest investments in a fintech company in the region”.
InvesTex Credit Union selects Bankjoy for digital banking upgrade
InvesTex Credit Union says all its members will have access to Bankjoy’s digital banking platform.
ABN Amro to acquire Dutch neobroker Bux for undisclosed sum
ABN Amro hopes the deal will help it gain a foothold in the retail investment space.
E-invoicing in Europe 2024: a country by country policy overview
Delving into the mandates, legal changes and harmonisation efforts in B2B and B2G e-invoicing in Europe.
Germany’s Scalable Capital secures $65m in Series E extension
The raise follows on from the company’s $180 million Series E round in June 2021.
Indian BNPL fintech ZestMoney is reportedly closing down
ZestMoney’s leadership team has reportedly informed employees of its decision to wind down by the end of the month.
Crypto.com lands EMI licence from the UK’s Financial Conduct Authority
Crypto.com says it now plans to roll out a suite of e-money products customised for the UK market.
UK fintech Plum signs strategic partnership with Greece’s Eurobank, lands €10m investment
Plum intends to grow its presence in Greece as well as the surrounding region.
New UK fintech start-up Kaldi aims to help millennials and Gen Z save and invest
Through an “easy-to-understand” app, Kaldi hopes to encourage people to start saving and investing earlier.
UK fintech Paysend lands $65m in fresh funding round
The round includes strategic investments as well as participation from existing investors.
India’s PhonePe reportedly planning to launch consumer lending in January 2024
According to sources, over the next six to seven months, PhonePe plans to launch multiple consumer credit products.
UK government publishes findings from the Future of Payments Review
Commissioned by the UK chancellor and launched in July this year, the report has been authored by Joe Garner.
Mashreq taps Visa and Ecolytiq to launch climate banking platform
The platform uses transaction data to produce carbon footprint analytics.
Fils launches as digital ESG infrastructure for payments sector
Founder Nameer Khan describes his latest venture as “a catalyst for the evolution of ESG enforcement”.
US credit card fintech Petal reportedly eyeing potential sale
According to a report by Fortune, sources say the start-up has received multiple offers for acquisition.
US challenger HMBradley winds down consumer business, eyes B2B space
“Our consumer brand growth was falling short of our goals,” says HMBradley CEO and co-founder Zach Brunke.
WeLab launches Bank Saqu as its second digital bank in Asia
The newly launched digital bank aims to target the younger generations, with a focus on solopreneurs in Indonesia.
Lack of funding forces US credit card fintech Ness to close down
Having raised $15.5 million in seed funding, the fintech had hoped to raise an additional $40 million but to no avail.
Apple Pay rolls out new open banking feature for UK customers
Apple Pay’s UK customers can access their “most relevant” account information at the time of purchase.
ICYMI fintech funding round-up: Refine Intelligence, Apiture, Solvimon and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Ireland’s Synch ditches plans to roll out mobile payments app
Synch says “it was no longer feasible to launch its payment app Yippay into the Irish market”.
Japan’s MUFG pens multi-year partnership with AWS for digital transformation
By moving to the cloud, AWS claims that MUFG has been able to reduce IT operational costs by 20%.
Goldman Sachs reportedly seeks new issuer for General Motors credit card
Goldman Sachs bought the GM credit card business for $2.5 billion in October 2020.
CFPB targets US fintech firms with proposals for increased regulatory scope
The proposals will target 17 companies who control 88% of the market share.
UK payments app Cardeo to shut down
In an announcement on its website, Cardeo says it failed to secure funding “required to continue as a business”.
Customers, employees, shareholders: the laser focus of successful digital transformations
Incorporating a customer lens in your digital transformation can boost both revenue and employee satisfaction.
PFM downturn continues as Status Money closes down
The company’s website and app with cease to operate from 10 November.
Video: Mastercard at Money20/20 USA 2023 – Fintech partnerships and sustainable growth models
We chat with Mastercard’s Tim Montgomery and Hania Faridi about the company’s approach to fintech partnerships.
National Bank of Georgia taps Ripple for CBDC pilot
With Ripple, Georgia’s central bank aims to explore use cases and potential benefits of having a digital currency.
Intuit to merge personal financial management subsidiary Mint into Credit Karma
Intuit first acquired Mint for $170 million back in 2009.
BNPL fintech Tabby lands $200m Series D at $1.5bn valuation ahead of planned IPO
Tabby claims it has become the Middle East’s first fintech unicorn ahead of its planned IPO in Saudi Arabia.
Kuwait Finance House launches new youth-focused digital bank Tam
Tam offers a digital savings account, prepaid cards, student allowance management and local transfer services.
US fintech for older Americans, Charlie, secures $23m Series A
The funding round includes $16 million in equity and $7 million in debt.
IndusInd Bank taps Viamericas for digital inward remittance offering
The bank says its remittance platform provides customers with full transparency over payments.
