On The Web

nbsp;

Global

Worldline and Nets become shareholders of EPI Interim Company

November 25 2020

• in
• Europe

“The European Payments Initiative (EPI) has entered its next phase with Worldline and Nets becoming shareholders of the EPI Interim Company. Meanwhile, third-party acquirers have joined the initiative. The EPI was created by 16 European banks in July to provide a unified, innovative pan-European payment solution leveraging Instant Payment/SEPA Instant Credit Transfer, which offers a […]

nbsp;

Domains

Looking to emulate Venmo, JoomPay preps a Euro launch for easy bill splitting and cash payments

November 24 2020

• in
• Europe
• P2P

“JoomPay , a startup with a similar product to PayPayl-owned Venmo in the US, is set to launch in Europe shortly after being granted a Luxembourg Electronic Money Institution (EMI) license. The app allows people to send and receive money with anyone, instantly and for free.”

nbsp;

Deals

YC-backed Cashfree raises $35.3 million for its payments platform

November 24 2020

• in
• India
• Remote Commerce

“Cashfree, an Indian startup that offers a wide-range of payments services to businesses, has raised $35.3 million in a new financing round as the profitable firm looks to broaden its offering… Cashfree kickstarted its journey in 2015 as a solution for restaurants in Bangalore that needed an efficient way for their delivery personnel to collect […]

nbsp;

Global

Indian central bank committee recommends reshaping domestic banking industry

November 23 2020

• in
• Central Banks
• India

“A working group at India’s central bank has recommended a series of changes that could transform the country’s banking landscape by paving the way for large industrial conglomerates to set up banks. The proposals could also allow large non-banking finance companies and niche payment banks to convert into lenders.”

nbsp;

Companies

Mastercard & Juvo to provide financial services to underbanked consumers in Latin America

November 19 2020

• in
• Latin America
• Mastercard

“Juvo, a pioneer of financial identities for the underbanked, today announced a new partnership with Mastercard. Juvo was accepted into Mastercard’s global fintech startup engagement program, Start Path, last August. Now, Juvo is collaborating with Mastercard’s Latin America and Caribbean (LAC) team to introduce its FiDaaS (Financial Identity as a Service) platform to hundreds of financial […]

nbsp;

Deals

Payments app True Balance raises $28 million to reach more underbanked users in India

November 19 2020

• in
• India

“True Balance, a South Korean startup which runs an eponymous financial services app aimed at tens of millions of users in small cities and towns in India, said on Wednesday it has raised $28 million in a new financing round and expects to turn a profit next year… True Balance began its life as an […]

nbsp;

Deals

African fintech startup Chipper Cash raises $30M backed by Jeff Bezos

November 19 2020

• in
• Africa

“African cross-border fintech startup Chipper Cash has raised a $30 million Series B funding round led by Ribbit Capital with participation of Bezos Expeditions — the personal VC fund of Amazon CEO Jeff Bezos…he company offers mobile-based, no fee, P2P payment services in seven countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya. Parallel […]

nbsp;

Companies

Jack Dorsey’s Square Invests $18 Million in Italy’s App Satispay

November 19 2020

• in
• italy
• Square

“Square Inc. , the payments company run by Jack Dorsey, is among new big investors in Italy’s mobile digital payment platform Satispay SpA , in a move aimed to expand its operations across European markets, according to a statement by Satispay. The San Francisco-based company invested about 15 million euros ($18 million) for a minority […]

On The Wires

nbsp;

Companies

Mastercard introduces contactless payment on SBI Card App

November 25 2020

• in
• India
• Mastercard
• Tokenization

“Mastercard and SBI Cards & Payment Services Ltd. (SBI Card) today announced the launch of contactless payments on the SBI Card app. This is the first-ever app of a credit card issuer in India to use Mastercard’s tokenization platform, Mastercard Digital Enablement Service (MDES), that allows payment credentials to be securely tokenized and stored in […]

nbsp;

Global

Circle Partners with Bolivarian Republic of Venezuela and Airtm to Deliver Aid to Venezuelans Using USDC

November 24 2020

• in
• Digital currencies
• Venezuela

“Through a collaboration with the Bolivarian Republic of Venezuela, led by President-elect Juan Guaido, U.S.-based fintech innovator Airtm, and coordination with the US government, we were able to put in place an aid disbursement pipeline that leveraged the power of USDC — dollar-backed, open, internet-based digital currency payments — to bypass the controls imposed by […]