FinTech Futures: Top five stories of the week – 11 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
POS
Egyptian consumer credit start-up Blnk lands $32m in funding
Blnk’s lending platform enables merchants to underwrite and finance customers’ purchases at the point of sale.
Innovation in payments – how merchants can get it right
When it comes to the future of payments, moving money instantaneously with ease and transparency is key.
Shoreline Credit Union partners VizyPay for small business payment services
Shoreline Credit Union will refer its commercial members to VizyPay for specialised payments solutions.
Payment Systems Regulator outlines card-acquiring market remedies
Focusing on 14 providers will ensure “around 95% of transactions for the merchants our remedies will protect will be regulated”.
Korea Credit Data raises $24.7m in Series D extension
Since it was founded in 2016, the firm has raised more than $110 million in total funding.
Digital bank Paytend taps Tribe for issuing and acquiring services
Paytend says the partnership with Tribe will enable more efficient payment services.
Banking app for “global citizens” Bankkit launches in UK
The app offers overseas bill payment functionality and an integrated current account.
The importance of card and mobile money interoperability in Africa
For the African fintech revolution to reach its true potential, interoperability needs to be completely borderless.
US fintech Kafene lands $18m in Series B funding
The new funding will be used to increase Kafene’s employee headcount and onboard more merchants onto its platform.
Allied Bank Pakistan picks BPC to launch SME acquiring business
Allied Bank will support merchant and business acquisitions and enable payments in-store, online and in-app.
UAE’s Ajman Bank to launch Mastercard ‘touch’ card for visually impaired
The card was co-designed by Idemia, an identity technology solutions provider in the physical and digital space.
ING and CCV app turns mobile phones into payment terminals
The app will be tested by Dutch department store HEMA from mid-September in three of its stores.
Diebold Nixdorf hires Joe Myers as executive vice president
Myers will head up the US firm’s banking business, handling sales and solutions delivery.
PayTech Awards 2022 Winners Supplement out now
Commending the most impactful, innovative and successful projects, products and people in payments.
Nets grows POS presence in Poland with Simapka acquisition
Owned by Team4U, Simapka is an app for owners of shops and service points in Poland.
Lebanese fintech Purpl partners Mambu to scale operations
Mambu’s cloud platform will power Purpl’s remittance and digital wallet solution.
EXL, Corridor Platforms and Oliver Wyman partner up for new risk decisioning product
The solution leverages analytics, AI and cloud to deliver “instant” credit decisions to support digital lending.
Worldline completes acquisition of Eurobank’s merchant acquiring business in Greece
As part of a joint venture with Eurobank, Worldline will hold an 80% stake in the new company.
Yoma Bank taps Compass Plus Technologies for time-to-market upgrade
Myanmar’s Yoma Bank has replaced its in-house processing centre with Compass Plus’ TranzAxis.
ICYMI fintech funding round-up: Mapan, Ophelos, Lista, Vibrant and Singletrack
A handy round-up of the recent funding endeavours of fintech companies across the globe.
SME paytech SumUp raises €590m at €8bn valuation
SumUp says the latest funding is “indicative of our strength, execution, and potential”.
Canada’s VersaBank acquires a Minnesota-based bank to fuel US growth
Upon closing, the bank will be renamed VersaBank USA National Association.
Dutch BNPL fintech in3 lands $85.3m Series B
In3 CEO says the funding is “testament to the scale and growth of our proposition in the BNPL community”.
Nets buys German POS specialist orderbird
Nets is part of European paytech conglomerate Nexi Group, which will own 100% of orderbird.
Egyptian B2B paytech Paymob raises $50m Series B
The Series B round, the largest fintech Series B in Egypt, was led by Kora Capital, PayPal Ventures and Clay Point.
Payments infrastructure start-up kevin. secures $65m Series A funding
The funding will be used to double the size of its team and develop new products.
SEB lands first BaaS customer with Humla partnership
Fintech start-up Humla will be powered by a BaaS platform developed by SEB’s innovation studio SEBx.
US paytech Choice brings on Nexa Equity as majority investor, acquires DPC
Nexa Equity aims to scale Choice through both “organic initiatives” and strategic acquisitions such as DPC.
UK fintech Fidel API secures $65m Series B round
Funding will help the firm meet the “ever increasing demand for tools that enable programmable money experiences”.
ICYMI fintech funding round-up: Archie, Dapio, Finary, Jia Finance, & Zimpler
Our weekly fintech round-up for you to get the latest funding news from around the world.
India’s Pine Labs raises $50m from Vitruvian Partners to drive growth
The raise comes hot on the heels of a $150 million investment in February from Alpha Wave Global.
BNPL platform ChargeAfter raises $44m Series B
The Series B brings the company’s total amount raised to date to $60 million.
Aussie BNPL firm Zip confirms Sezzle acquisition
The deal values Sezzle at approximately $360 million (AUD 491 million).
Lloyds partners fintech Bink to create unified customer loyalty programme solution
Lloyds has also made an equity investment for a minority stake in Bink.
Mastercard, Pine Labs and DBS Bank to roll out BNPL credit card offering
The solution will be available on all DBS Mastercard, Visa and American Express credit cards.
Colombian paytech Bold secures $55m Series B to boost financial inclusion
Bold wants to accelerate Colombia’s transition from cash to a digital payments economy.
E-commerce one-click checkout fintech Bolt raises $355m in Series E
Bolt says it has doubled its valuation in three months.
Retail finance platform Divido appoints Todd Latham as CEO
Latham has also held senior positions at American Express and Microsoft.
Travel BNPL fintech Fly Now Pay Later lands $75m debt funding package
The funding package will finance the UK fintech’s expansion into the United States.
