November 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories from November.
PayTech
Garanti BBVA launches new e-commerce payments platform TAMi
TAMi currently offers a multi-bank POS system and prepaid cards as its two main products.
CellPoint Digital bags $30m to fuel development of new payment orchestration platform
CellPoint Digital says the funding will support the launch of its Offer Order Service Delivery platform.
Santander’s Getnet names Juan Franco as new global CEO
Juan Franco takes over from Kush Saxena, who is stepping down for “personal reasons”.
Garanti BBVA International taps Worldline for instant payments solution
The cloud-based solution will ensure GBI’s compliance with the EU’s Instant Payments Regulation.
ICYMI fintech funding round-up: Kalder, Pemo, PostSig, StoreCash, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Thunes hires Peter Cohen to lead compliance
Cohen’s resume includes roles at Triodos Bank, European Merchant Services, and Xplor Technologies.
State of play: payment hubs
Payment hubs are increasingly seen as an attractive solution to manage the new world of payments.
Beacon unveils new digital wallet offering built for immigrants to Canada
Beacon’s new service will support bill payments, salary deposits, Interac e-Transfers, and more.
UK paytech Cardstream names Gurinder Sumra as new CFO
Sumra previously spent over six years as CFO of Elavon’s European payment-acquiring division.
Navro secures FMSB registration to provide money transfer services to businesses in Canada
Navro (formerly known as Paytrix) has also secured licences in the UK and Ireland (EU) this year.
Modulr buys AP automation platform Nook, plans to launch Modulr AP solution in early 2025
Modulr AP, powered by Nook, is described as an “end-to-end solution for invoice management and AP automation”.
Mexico’s Albo partners Paymentology to expand digital payment services
Albo plans to launch a new initiative with Mastercard to boost digital payments in Mexico.
TrueLayer reportedly reduces headcount by around 25% to cut costs in push for profitability
City AM reports that TrueLayer cut 71 jobs in September, citing sources familiar with the matter.
PayTech Awards 2025 now open for entries
Nominations for the PayTech Awards 2025 are now open, with the deadline for entries set for 14 March.
Celero Commerce snaps up Precision Payments for undisclosed sum
Celero expects its North American card processing volume to exceed $28 billion following the acquisition.
Network International inks referral agreement with NBF for corporate omnichannel payment solutions
The deal will enable National Bank of Fujairah to offer Network’s digital payment solutions to its corporate clients.
Trust Payments appoints Laurence Booth as new CEO
Booth has been interim CEO at Trust Payments since September 2024 and first joined the company in 2021.
Morgan Stanley makes $20m investment in NovoPayment to fuel product and commercial growth
The funding follows NovoPayment’s $19 million Series A round in 2022.
Myanmar’s Wave Money taps Amdocs for Digital Financial Services platform
Wave Money’s WavePay digital wallet currently has over 11.5 million users.
ICYMI fintech funding round-up: Mutual Vision, Tako, Zeplyn, Tranched, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
US presidential election: What’s next for US fintech under Trump?
Following the US presidential election, what can the country’s fintech sector expect from Trump’s second term?
Klarna picks New York for upcoming IPO
Klarna has not yet disclosed the number of shares or expected price range of the offering.
Guide: Charting the course – understanding payment trends in the financial sector in 2024
Insights from extensive research on how UK consumers prefer to pay and the payment options currently offered by 200 financial services providers.
Jeremy Nicholds steps down as CEO of UK paytech Judopay
Judopay was acquired by Italian banking group Banca Sella’s open finance subsidiary, Fabrick, last year.
Visa rolls out flexible payment solution in US and UAE with Affirm and Liv
The offering has been available in Asia for over a year with the launch of Olive Card in Japan.
Saudi fintech Lean Technologies secures $67.5m Series B funding
The new round of funding follows Lean’s $33 million Series A in 2022.
Ecobank teams up with Nium to enable cross-border payments across 35 African markets
The partnership will embed Nium’s real-time payments infrastructure into Ecobank’s banking operations.
Italian payments app Satispay raises €60m, plots 2025 launch of investment services
The paytech unicorn has now raised over €500 million in total funding to date.
Video: Codat at Money20/20 USA 2024 – Innovation in B2B payments
Codat’s Joey Rault and JP Morgan’s Jesse Schwarz discuss the evolving B2B payments landscape at Money20/20 USA.
Interview: Jason Cao on Huawei’s fintech frontier and digital transformation innovation
Cao details the best strategies for digital amid a “highly challenging time” for the global banking industry.
UBS pilots new blockchain-based system for cross-border payments
The system settles international transactions using smart contracts on a private blockchain network.
Banking Technology Magazine November 2024 issue out now
Cover story: GOING GREEN – Why sustainable finance is vital.
Scottish paytech BR-DGE names Chun Ong as new COO
Ong moves from Dubai-based fintech Tarabut Gateway, where he was COO for under a year.
Video: Form3 at Money20/20 USA 2024 – The evolution of instant payments
FinTech Futures chats with Dave Scola, CEO of Form3, about instant payments trends in the US.
Sibos 2024: The future of global transactions with KoreFusion – video interview
KoreFusion’s Jan Smith discusses the latest technologies that are transforming cross-border transactions.
FTC takes action against US neobank Dave for allegedly “using misleading marketing”
In a statement, Dave says it intends to “vigorously defend ourselves”.
MAS’ Project Guardian pilots settlement of tokenised fund subscriptions and redemptions using Swift
The initiative was led by Swift, UBS Asset Management and blockchain platform Chainlink.
Saldo Bank selects Lunar’s Nordic infrastructure to streamline payments for customers in Sweden
Vilnius-headquartered Saldo Bank is the first bank to adopt Lunar’s Nordic infrastructure.
B2B payments platform Melio secures $150m Series E funding round
The round values Melio at $2 billion, down from its previous $4 billion valuation in 2021.
