Video: Top fintech stories this week – 08 November 2019
FinTech Future’s weekly news round-up.
E-commerce
Sokin CEO: We’ll turn remittances on its head
Sokin’s CEO believes disruption hasn’t hit remittances yet.
Clearpay helps Marks & Spencer tap millennial generation
The paytech charges the merchant rather than the consumer.
India’s Reserve Bank welcomes retail paytechs to new regulatory sandbox
The bank hopes to “spur innovation in [the] digital payments space”.
Israel’s anti-fraud fintech Riskified reaches unicorn status with $165m fundraising
The round was led by General Atlantic.
Alipay launches prepaid card for international visitors
Prepaid card scheme for international visitors is a first for the giant Chinese payment firms.
Sweden’s subscription manager Minna Technologies lands deal with Norway’s SpareBank 1
Competitor Subaio has recently signed deals with various other Nordic banks.
Japan’s instant credit start-up Paidy raises $143m
It includes $83m in a Series C extension and $60m in debt financing.
HSBC-backed fintech Bud looks beyond financial sector in re-focused product model
The fintech has axed 20% of its staff and undergone a business restructure.
SME lender Lidya aims for top spot in Nigeria, next stop Eastern Europe
Lidya expanded to Central Eastern Europe (CEE) earlier this month.
Elavon and Santander help Poppy Appeal in ‘largest cashless charity campaign in Europe’
The fintech is deploying 1,100 cashless terminals across the UK.
Starling Bank launches dual currency debit card with pounds and euros
The card will go live alongside its business euro account launch.
Uber relaunches credit card with Barclays, drivers get real-time cash flow
Uber has rolled out its financial product line Uber Money.
Transbank chooses AEVI to overhaul its in-store checkout for Chile’s merchants
The bank support firm wants to make integrations easier for merchants.
Spanish fintech PecunPay chooses IBM to implement Red Hat platform
The start-up is trying to keep up with ever-changing mobile apps.
How to provide customers from China with a habitual and convenient service
An official account is the first step for a company towards the Chinese audience.
India’s fintech Paytm in talks with T Rowe Price for $1 billion funding round
Existing investors SoftBank and Ant Financial are also expected to participate.
Nine UK fintechs land in Australia under the countries’ bridge programme
The companies will be showcased at Melbourne’s Intersekt conference.
OTP Bank welcomes “later-stage” start-ups to its partnership programme
Applications need to be made by 22 November 2019.
Intesa Sanpaolo invests €7m into vending machine digital wallet MatiPay
The fintech will expand its operations in Europe, Japan and the US.
HSBC takes on digital challengers with First Direct overhaul
The telephone-based brand is looking at AI and in-app technology.
Mastercard, Visa, eBay and Stripe follow PayPal’s suit and leave Facebook’s Libra
Facebook’s hopes of a global cryptocurrency are hanging in the balance.
UK’s Royal Mint unveils first 18-carat gold payment card
The card enables limitless spending and zero foreign exchange fees.
Finnish invoicer Enterpay raises €1m and partners with German bank
The fintech partners with Volksbanken Raiffeisenbanken.
Metro Bank brings fintech to UK SMEs with £120m funding
The bank wants to inject “much needed competition” into the SME space.
Temenos signs core banking deal with Maltese challenger Laskaris Finance
Laskaris will serve high-net-worth individuals and corporate clients.
Consumer champion app Snoop goes live, founded by ex-Virgin Money execs
The UK-based fintech is accepting sign ups on its waiting list.
Banking Technology October 2019 issue out now
Lessons from Africa.
Sibos 2019: Final wrap-up of talks, interviews and daily news
See our final wrap-up of the London-hosted four day event!
Fibank, Mastercard and Garmin launch pay watch
The tech enables contactless POS and ATM transactions.
Sibos 2019: “We don’t get rid of anything in this industry”, says Fiserv director
Fiserv talks on the evolution of payments.
Sibos 2019: Watch out for Asian big techs like Alipay, Accenture warns banks
Bigtechs have been quietly accumulating lots of data.
Sibos 2019: SEB launches new environment-friendly product for Nordic SMBs
Th trend is shifting from last year’s focus on renewable energy.
Sibos 2019: Embracing payments change will keep banks in fintech race
Schemes like Request to Pay will change the game, says panel.
Sibos 2019: Visa’s digitisation tries to avoid “immediate displacement” of cash
Phalen admits it’s “a shame” that US firms are still cash-heavy.
Fundbox raises $176m from Allianz X and GMO Internet
Fundbox can offer businesses greater cash flow predictability.
Sibos 2019: Banks face existential threat from fintechs “willing to lose money”
Industry is “misjudging” competitive risk in payments.
Sibos 2019: When do digital ecosystems stop performing?
Speakers debated whether digital ecosystems are inclusive.
Sibos 2019: Swift reveals 41 second European payments pilot
The payment traveled from Singapore to Germany.
Stripe hits $35 billion valuation on back of fresh funding
Stripe’s value has increased 56% since the start of 2019.
