Payments News

On The Web

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Deals

SumUp Enhances Payments for SMEs With €330m Funding

“The firm will use this capital to accelerate its growth and acquire new merchants in its 31 markets across the globe. The new funds will be used to continue expanding SumUp’s product suite, both organically and through more acquisitions. The company has recently broadened its product portfolio through the acquisition of Debitoor, for accounting and […]
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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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Deals

Brazil Fintech Nubank Takes Aim at Small Business Owners

“Brazilian financial startup Nu Pagamentos SA is planning to launch digital accounts for small business owners, expanding its product portfolio beyond individuals, it said in a statement on Tuesday. Founded in 2013 as a credit card issuer, Nubank has been launching new products, such as loans and payment accounts, and expanding geographically to countries such […]
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On The Wires

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Deals

Comdata to Acquire Payroll Card Provider SOLE Financial

“Comdata, a FLEETCOR company (NYSE: FLT) and leader in corporate payment innovation, today highlighted its recent acquisition of SOLE® Financial, a payroll card provider enabling instant, affordable wage access for workers. Originally announced on July 8, 2019, the acquisition will extend Comdata’s industry leadership in payments by expanding the addressable market for its new Fintwist […]
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Deals

Xolo Secures $6.8m in Series A Funding, Launches “a Virtual Company” Service for Modern Freelancers

“Xolo (formerly known as LeapIN), the online platform for launching and running one-person businesses anywhere in the world has announced the completion of $6.8m (€6m) Series A funding, and the launch of a revolutionary form of entrepreneurship. The launch of the “virtual company” service will enable millions of professional freelancers around the world to radically […]
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Deals

Visa Acquires Payworks

“Visa (NYSE: V) today announced it has acquired Payworks, a Munich-based provider of next-generation payment gateway software for the Point of Sale (POS). Visa will bring Payworks’ cloud-based solution for in-store payment processing together with its CyberSource digital payment management platform to create a fully integrated payment acceptance solution for merchants and acquirers. The joint […]
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Deals

Flybits Secures $35M Investment From World’s Top Financial Institutions

“Flybits , a contextual data intelligence company, has raised $35 million in a Series C round led by Point72 Ventures with participation from Mastercard, Citi Ventures, and Reinventure (backed by Australia’s Westpac Banking Corporation), along with existing partners Portag3 Ventures, TD Bank Group and Information Venture Partners.”