Payments News

On The Web

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Deals

Bank of America Considers Scrapping First Data Payments Partnership

“Bank of America Corp. BAC -0.39% is considering dissolving the huge payment-processing joint venture it has with First Data Corp. FDC -0.83% and developing its own business to move money between consumers and merchants, according to people familiar with the matter. Like its rivals, Bank of America is rushing to meet demand from consumers and businesses for […]
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Deals

Square Acquires Conversational AI Startup Eloquent Labs

“Square has acquired conversational artificial intelligence startup Eloquent Labs to help its merchants improve customer service. Eloquent Labs, which raised a $1.5 million seed round back in early 2017 , offers to small businesses a conversational assistant named Elle. The idea is that Elle will help merchants with common customer service-related issues like returns, product […]
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Deals

Japan’s SoftBank Taps Into Mexican Fintech Startup Clip

“Japan’s SoftBank Group invested about $20 million in Mexican payments startup Clip early this year, one of its first Latin America deals as it launches a $5 billion technology fund in the region, said three people familiar with the matter.”
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Deals

Danish Fintech Startup Pleo Raises Massive $56 Million to Boost Its Expansion in Europe

“The round was led by by New York growth fund Stripes with participation from prior backers Kinnevik, Creandum and the aforementioned Founders. Pleo’s mission is to completely upend the arduous business expense process and making it simpler, faster, more secure and transparent by virtually eliminating the manual aspect. The startups offers corporate cards paired with […]
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Deals

American Express Is Acquiring Resy

“American Express has today announced its intentions to acquire Resy , the CRM and reservation platform based out of New York. The terms of the deal were not disclosed. Resy launched back in 2014 as a platform that allowed users to buy reservations from restaurants in situations where they’d usually have to book months in […]
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Deals

Amazon Leads $575M Investment in Deliveroo

“Amazon is taking a slice of Europe’s food delivery market after the U.S. e-commerce giant led a $575 million investment in Deliveroo . First reported by Sky yesterday , the Series G round was confirmed in an early U.K. morning announcement from Deliveroo, which said that existing backers, including T. Rowe Price, Fidelity Management and […]
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Deals

JPMorgan to Acquire Healthcare Payments Company InstaMed

“JPMorgan Chase & Co said Friday it is acquiring InstaMed, a U.S. healthcare payments technology company. The deal gives JPMorgan the chance to add a new, niche business sector to its wholesale payments business, which the bank has steadily expanded in recent years.”
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Deals

YouTrip, a Challenger Bank in Southeast Asia, Raises $25.5M for Expansion

“Singapore-based startup YouTrip thinks consumers of Southeast Asia deserve a taste of the challenger bank revolution happening in the U.S. and Europe, and it has raised $25.5 million in new funding to bring its app-and-debit-card service to more parts in the region. Challenger banks have sprung up in Europe in recent years. Unicorns Monzo, Revolut […]

On The Wires

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Companies

Mastercard Strengthens Bill Payment Services With Acquisition of Transactis

“Mastercard (NYSE: MA) today announced it has entered into an agreement to acquire Transactis, a platform that helps businesses deliver bills and receive payments through one simple-to-navigate experience. In today’s digital age, a surprising 44 percent of the 15 billion bills that Americans pay each year are made by paper check or cash. Consumers who […]
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Deals

Modulr Raises £14m in Scale-up Capital to Fuel Growth

“Modulr , the Payments as a Service API Platform for digital businesses, today announced that it has completed an investment of £14m. The investment round has been led by new investors Frog Capital as well as further investment from existing investors including Blenheim Chalcot .”