On The Web

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Deals

Indonesian Fintech Xendit Is Now a Unicorn, With $150M in Fresh Funding Led by Tiger Global

September 15 2021

• in
• Indonesia

“There’s a new entrant in Southeast Asia’s growing list of unicorns. Jakarta-based Xendit , best known for its digital payment infrastructure but also focused on other financial products, announced today it has raised $150 million in Series C funding, bumping its valuation to $1 billion.”

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Global

Paytm Blazed a Trail in Indian Fintech but Faces Crowded Market As IPO Nears

September 14 2021

• in
• India

“Paytm, a pioneer in mobile payments in India and one of the country’s best-known startups, set out years ago to build an ubiquitous digital-finance ecosystem much like Ant Group Co.’s Alipay in China. Now, as Paytm’s owner nears a $2.2 billion listing that will see it beat Ant to the public markets , the company […]

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Global

Big Tech’s ‘walled Gardens’ Start to Crack As Tencent Vows to Obey Beijing

September 13 2021

• in
• China

“Chinese internet giant Tencent Holdings said it will follow a regulatory order to unblock online links after China’s industry ministry ordered internet companies to open up their platforms to each other, signalling the demise of Big Tech’s “walled gardens”. The Ministry of Industry and Information Technology (MIIT) has been giving guidance to internet companies as […]

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Global

FEATURED: Equity Bank Rwanda Unveils New Cost-free Cashless Payment System

September 13 2021

• in
• Rwanda

“Equity Bank Rwanda has introduced a seamless payment platform where goods or services can be paid for at no charge, both to the buyer and the merchant. The new platform dubbed “Pay With Equity (PWE), fasta fasta” will allow the bank’s clients to directly transfer money and make payments from their Equity Bank accounts to […]

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Global

China Will Reportedly Break up Ant Group’s Alipay and Force Creation of New Loans App

September 13 2021

• in
• China

“Beijing plans to break up Ant Group’s Alipay and create a separate app for the fintech giant’s loans business, according to a Financial Times report on Monday . Regulators previously ordered Ant to split the businesses of AliPay from lending businesses Huabei and Jiebei. They now want the credit businesses to be split into an […]

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Deals

Addi Raises $75M to Advance ‘buy Now, Pay Later’ in LatAm, Nearly Triples Valuation

September 8 2021

• in
• Buy Now Pay Later
• Latin America

“Buy now, pay later is officially everywhere, and Latin America is no exception. Today, one startup in the region, Addi , is announcing a $75 million extension to its Series B, bringing the total round size to $140 million. In late May, the startup announced it had raised $35 million in an equity round led […]

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Global

How the Latin American Market Has Hit the Radar Screen for Major Processors

September 7 2021

• in
• Latin America

“North American payments processors are focusing lately on bulking up resources in Latin America, largely via acquisition. The latest example is Montreal-based Nuvei Corp., which on Tuesday said it has acquired Paymentez LLC, a 10-year-old payments provider that enables more than 80 payment methods in Mexico as well as 10 countries in South America. Terms […]

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Global

Express Kidnappings in Brazil’s São Paulo Accelerate With Instant Pay App

September 7 2021

• in
• Brazil
• Faster payments

“The increasing use of an instant money transfer app is driving express kidnappings in the Brazilian city of São Paulo – a crime that now requires no more than a password and a push of a button to rob victims of large sums. In an interview with BBC News Brazil, Tarcio Severo, an official with […]

On The Wires

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Global

I2c Certifies on Mexico’s Prosa Payments Network

September 15 2021

• in
• Mexico

“i2c Inc. , a leading provider of digital payment and banking technology, today announced its certification with Mexican payments network, Prosa , providing local banks and fintechs greater choice in issuing and processing American Express, Mastercard and Visa programs while also signaling its continued growth and investment in the LAC region.”

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Global

NPCI and Fiserv Enable NFiNi- RuPay Credit Card Stack for Fintechs and Banks

September 8 2021

• in
• India

“Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, has entered into a first-of-its-kind collaboration with National Payments Corporation of India (NPCI), which leads the retail payments and settlement infrastructure in India with breakthrough products like Unified Payments Interface (UPI), Bharat Bill Payment System, and RuPay, to enable the […]