Payments News

On The Web

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Global

How Egyptian Startup Raseedi Is Helping Mobile Users Save Money – Disrupt Africa

“Egyptian startup Raseedi, a self-described “social fintech” solution, claims to be building the largest network of underbanked customers who want to communicate, save money and find easy financing without a formal credit history. Founded in 2018 by Ahmed Atalla and Samuel Samy, Raseedi has developed a mobile application that helps users make calls at the […]
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Deals

Pakistani Fintech Safepay Raises Seed Funding From Stripe, Others

“Karachi-headquartered fintech Safepay has raised seed funding from global financial technology platform company Stripe. The startup did not share the exact size of the deal but has told us that it’s a seven-figure (USD) amount alongside participation of other local and international investors.”
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Deals

Sweden-based Digital Bank Northmill Raises $30M

“Northmill Bank , the Sweden-based challenger that has around 200,000 customers across three European countries, has raised around $30 million in new funding. Leading the round is M2 Asset Management, the Swedish investment company controlled by Rutger Arnhult, and asset management firm Coeli.”
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Deals

India’s BharatPe Valued at $900 Million in New $108 Million Fundraise

“India may soon have another fintech unicorn. BharatPe said on Thursday it has raised $108 million in a financing round that valued the New Delhi-based financial services startup at $900 million, up from $425 million last year. Coatue Management led the three-year-old startup’s Series D round… BharatPe operates an eponymous service to help offline merchants […]
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Global

Value of Card Payments Down Sh6.4 Billion

“The value of payments made through cards last year dropped for the first time in six years amidst the lockdown measures and continued preference for mobile money services. Central Bank of Kenya (CBK) data shows the value of payments through point of sale (POS) machines dropped by 3.8 percent in 2020 to Sh157.72 billion from […]
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Domains

Chinese Consumers Now Make Three Mobile Payments Every Day

“Chinese consumers made an average of three mobile payments a day during 2020, while 98% of the Chinese population consider mobile payments to be their most frequently used transaction method, an increase of five percentage points on last year, a new survey reveals. The number of consumers making mobile payments using a QR code also […]
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Global

China Issues New Anti-monopoly Rules Targeting Its Tech Giants

“China’s market regulator released new anti-monopoly guidelines on Sunday that target internet platforms, tightening existing restrictions faced by the country’s tech giants. The new rules formalise an earlier anti-monopoly draft law released in November and clarify a series of monopolistic practices that regulators plan to crack down on.”

On The Wires

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Companies

Mastercard and ACI Worldwide Announce First Real-Time Payments Infrastructure Collaboration With Cámara De Compensación Electrónica (CCE)

“Mastercard and ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions , today announced that Cámara de Compensación Electrónica (CCE) will utilize the ACI Enterprise Payments Platform to accelerate financial institutions’ access to Mastercard’s Instant Payment Service, the new real-time payments managed service that will enter Industry Testing in […]
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Companies

Mastercard and MTN Empower Millions of Consumers in Africa to Make Payments on Global Platforms – MTN Group

“Mastercard and MTN today announced a strategic partnership to enable millions of consumers in 16 countries across Africa to make global e-commerce payments safely and securely. Through a Mastercard virtual payment solution linked to MTN MoMo (Mobile Money) wallets, consumers and merchants can engage with brands and businesses abroad through digital commerce, extending their reach […]
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Companies

Mastercard and Razorpay Join Hands to Make Digital Payments More Accessible for MSMEs and Startups | Asia Hub

“To drive digital payments acceptance by small businesses and startups in India, Mastercard and Razorpay have launched a strategic partnership that combines Razorpay’s payment processing capabilities with Mastercard’s trusted and secure digital banking solutions and card services. The partnership will empower Indian micro, small and medium enterprises (MSMEs) in digitizing their operations, maintaining business continuity […]