On The Web

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Global

JPMorgan Testing Blockchain Solution With Taiwanese Banks

April 16 2021

• in
• Blockchain
• Taiwan

“JPMorgan launched a blockchain solution that aims to reduce the number of rejected or returned payments. The U.S. banking giant said Monday it is testing the solution “Confirm” with 12 banks in Taiwan including CTBC Bank, Taiwan Cooperative Bank and First Commercial Bank for money transfers to Indonesia using JPMorgan’s clearing solution “PayDirect.”The banks will […]

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Global

Bitcoin Tumbles After Turkey Bans Crypto Payments Citing Risks

April 16 2021

• in
• Cryptocurrencies
• Turkey

“Bitcoin tumbled more than 4% on Friday after Turkey’s central bank banned the use of cryptocurrencies and crypto assets for purchases citing possible “irreparable” damage and transaction risks. In legislation published in the Official Gazette, the central bank said cryptocurrencies and other such digital assets based on distributed ledger technology could not be used, directly […]

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Global

Brazil: Cielo and Google collaborate with the digitization of businesses

April 15 2021

• in
• Brazil

“Cielo reported this week that it has partnered with Google to digitize small and medium-sized businesses in Brazil. According to the payment company, the project can reach more than 600,000 businesses, who will have access to create a digital profile, open an online store and create online advertising campaigns. The agreement illustrates Cielo’s growing efforts to […]

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Global

African Fintechs Collaborate To Interlink Mobile Money And Digital Assets

April 15 2021

• in
• Africa

“The Seychelles-based Securities, Commodities and Derivatives Exchange ( SECDEX ), and KOINON , the global Digital Coin and Token based payment platform, are pleased to announce a collaboration to foster the intersection of African B2C and B2B payments and dynamic asset conversion between fiat currencies, cryptocurrencies and a broader range of digital assets. This initiative […]

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Global

Pix exceeds 1 billion transactions in five months

April 15 2021

• in
• Brazil
• Faster payments

“Pix has surpassed the 1 billion transaction mark since its launch last November. There were 1.05 billion instant transactions in five months, to be exact. The number was reached during the month of March, when there were 393.64 million instant payments, an increase of 43% compared to February. In values, Pix traded R $ 787 billion between November […]

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Deals

Indonesian E-commerce Firm Bukalapak Raises $234 Million

April 15 2021

• in
• Indonesia
• Remote Commerce

“Indonesian e-commerce company Bukalapak raised $234 million in capital in a funding round led by Microsoft, Singapore sovereign wealth fund GIC, and local media conglomerate Emtek, according to a sale document reviewed by Reuters. The latest funding round comes amid a frenzy of interest from global investors in gaining exposure to the fast growing Southeast […]

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Domains

Glitchy Bank Networks Slow India’s Mobile Payments Revolution

April 14 2021

• in
• India
• Mobile Payments

“Even before the pandemic, Indian consumers were taking up mobile payment technologies with remarkable speed. There’s just one problem: The networks of India’s biggest banks have struggled to keep pace, crashing again and again. The outages are exposing years of underinvestment in technology and a surprising lack of preparedness, analysts and executives say. The problems […]

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Global

How Can Open Finance Help Indonesia’s Unbanked?

April 13 2021

• in
• Financial Inclusion
• Indonesia

“One hundred and thirty million: that is the number of adults within Indonesia who do not use traditional bank accounts to access financial services such as loans and credit cards. Instead, they utilize fintech services ranging from digital wallets to peer-to-peer (P2P) lending to fulfill their financial needs. Now, Bank Indonesia (BI) and the financial […]

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Deals

MFS Africa Leads $2.3M Seed Round in Ugandan Fintech Startup Numida

April 13 2021

• in
• Loans
• Uganda

“Small businesses in Africa need digital banking services including plenty of credit. Although these businesses drive economic growth and contribute up to one-third of the continent’s GDP, they are often financially excluded from credit and other financial services due to their size and informality. One such company tackling this challenge in the eastern part of […]

On The Wires

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Deals

Netstars Raises JPY6.6 Billion From Investors Including KKR, SIG and LUN Partners | NETSTARS CO., LTD

April 15 2021

• in
• Japan
• QR codes

“Netstars Co., Ltd. (“Netstars” or the “Company”), the operator of Japan’s largest QR code payment gateway, today announced the completion of a JPY6.6 billion funding round. The round, which was made through a combination of a capital infusion and the allotment of new shares, includes a JPY4 billion investment made from funds managed by global […]