Payments News

On The Web

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Deals

EBay Picks up Over 5% Stake in Paytm Mall – ETtech

“Ebay said its global inventory will be available to over 130 million active users on Paytm Mall and Paytm’s app ecosystem as part of the deal. The companies did not disclose the investment amount, but sources close to the transaction said the financing round is about $150 million.”
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Global

Samsung Pay in India Now Lets You Apply for Loans and Credit Cards

“Samsung Pay has received a feature update in India, which allows users to apply for credit card and personal loans through Paisabazaar. The latter is India’s largest online marketplace and compare tool for loans, and its “Chance of Approval” predictive algorithm was introduced last December.”
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Global

Indian Panel Proposes Fines and Jail Time for Cryptocurrency Use

“A panel reporting to India’s Finance Ministry suggested the country’s regulators have an “open mind” about a governmental cryptocurrency and, at the same time, proposed fines and up to ten years in prison for general use of crypto in the country. The panel, created by the Ministry of Electronics and Information Technology, the Securities and Exchange Board […]
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Companies

Visa Invests in India-based B2B Payments Platform PayMate’s $25M Round

“PayMate, a Mumbai-based startup that helps businesses automate and digitize their payments, is raising $25 million in a new round, its founder said, as it looks to expand its presence within India and in international markets. In an interview with TechCrunch, Ajay Adiseshann, founder and CEO of PayMate, said the startup has already raised a substantial […]
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Global

WhatsApp Pay Is on the Verge of Launching in India

“WhatsApp has created the necessary data storage facilities in India to introduce WhatsApp Pay to the chat app’s entire Indian user base, which is estimated to be between 350 million and 400 million users, according to The Economic Times. The service is now being audited by the India Computer Emergency Response Team (CERT-IN), and once […]
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Domains

Mexico to Launch Smartphone Payments System

“The Mexican central bank is to launch a smartphone payments system, and has instructed the country’s banks to join up by the time the system goes live at the end of September. Banxico’s new platform, known as CoDi, is designed to reduce the use of cash and draw people into the financial system. “If we […]

On The Wires

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Companies

Wirecard and ALDI Sign MOU and Agree Collaboration

“Wirecard (…) and ALDI Nord and ALDI SÜD Groups have signed an MOU and plan to work together in the area of cashless payments. Within the scope of the partnership, Wirecard will process all credit card and international debit card payments at all ALDI stores in Germany. The possibility of expanding the cooperation is also […]
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Global

Splitit and GHL Partner to Offer Installment Payments to 2,000 Merchants in the ASEAN Region

“Splitit Payments Ltd, a leading global monthly installment payments solution business, today announced a three-year partnership agreement with GHL ePayments Sdn Bhd, part of leading payment service provider GHL Systems Berhad (“GHL”), to offer Splitit’s installment solution to more than 2,000 online merchants in Malaysia, Thailand, Indonesia and the Philippines (the “Agreement”). GHL is one of the top merchant acquirers in the […]
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Global

OneConnect Partners With UnionBank’s Fintech Subsidiary UBX to Co-create Philippines’ First Blockchain-enabled Platform for MSMEs

“OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant and Fortune Top 29 Company Ping An Group, has partnered with UBX Philippines Corporation, the wholly-owned fintech subsidiary of Union Bank of the Philippines (UnionBank), to build the country’s first blockchain-enabled platform to meet the banking needs of micro, small and medium enterprises (MSMEs). The partnership underpins both […]