Payments News

On The Web

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Global

Nigeria Fintech Sparkle Announces Partnership with Visa

“Nigeria’s digital banking platform Sparkle partnered with Visa in a collaboration aimed at entrepreneurs, consumers, and SMEs throughout Nigeria. Sparkle is a digital financial services platform supporting Nigerians across the globe. The new partnership will equip Sparkle with greater flexibility and freedom on how in-app payments are made. Users of the Sparkle app can make […]
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Global

How Bitcoin Met the Real World in Africa

“Four months ago, Abolaji Odunjo made a fundamental change to his business selling mobile phones in a bustling street market in Lagos: He started paying his suppliers in bitcoin. Odunjo sources handsets and accessories from China and the United Arab Emirates. His Chinese suppliers asked to be paid in the cryptocurrency, he said, for speed […]
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Global

Digital Payments Firm Strikes Gold in Egypt, Where Cash is King

“An Egyptian digital payments firm has quadrupled in value during the pandemic, helped by a government push to reduce citizens’ heavy reliance on cash. Investors and analysts are split on whether the stock rally has further legs. Fawry for Banking & Payment Technology Services SAE debuted on Cairo’s exchange just over a year ago. A […]
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Deals

China’s ByteDance buys UIPay to leverage e-payment capabilities at home

“ByteDance, the owner of popular short-video app TikTok, said it has acquired a Chinese third-party payment service UIPay in a bid to leverage its domestic payment capability…Established in 2012, UIPay obtained a third-party payment license from China’s central bank in 2014. There were reports of ByteDance acquiring UIPay in 2018, but ByteDance had downplayed the […]
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Deals

General Atlantic Leads $300 Million Growth Round for Brazilian Fintech Company

“Growth-equity firm General Atlantic has led a $300 million funding round for Brazilian financial technology company Neon Pagamentos SA to help foster the company’s continued growth. The latest funding comes not long after the firm helped back the company in a roughly $92 million Series B financing round in 2019 and brings total capital raised […]
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Domains

Karachi based Fintech Safepay Plans to Become “the Stripe of Pakistan” after Receiving Support from Y Combinator

“Pakistani Fintech firm Safepay recently received an investment from Y Combinator and it’s now planning to become “the Stripe of Pakistan.” Karachi-headquartered Safepay has notably become the first Pakistani Fintech to complete Y Combinator’s program for startups. The company was reportedly a part of YC’s S20 batch and recently graduated. It has also secured $150,000 in capital.”
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Domains

Remittances to Mexico hit third highest level on record in July

“Remittances sent to Mexico, a major support for the Mexican economy and in particular for low-income families, continued its historic 2020 run and rose in July to the third highest level on record, central bank data showed on Tuesday. Mexico received $3.53 billion in remittances in July, up by more than 7% compared to the […]

On The Wires

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Domains

India’s Largest Bank Modernizes its Payment Switching System with ACI Worldwide Technology

“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions , has modernized payments infrastructure for ATM and point-of-sale (POS) at State Bank of India (SBI), the country’s largest bank with more than 440 million account holders. SBI is India’s largest public sector bank, with a network of more than […]
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Domains

TransferMate expands North American regulation with Mexico licence approval

“TransferMate, one of the world’s leading cross-border B2B technology payments providers, has today announced a significant boost to its international footprint, securing a new payments licence in Mexico. This authorisation as a money transmitter by Mexico’s National Banking and Securities Commission marks a major milestone on the company’s global growth journey and strategic plan to provide its customers with […]