Payments News

On The Web

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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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Deals

Turning Software Companies Into Payments Companies: Finix Adds $30M To Series B

“Finix continues to have a good year. Six months after announcing an initial $45 million Series B , the payments infrastructure company is coming back with a $30 million extension to close a $75 million round. Founded in 2016, San Francisco-based Finix has developed a payment processing infrastructure-as-a-service platform allowing startups to bring their e-commerce payments infrastructure in-house.”
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Deals

WorldRemit to Acquire Sendwave in $500 Million Payments Deal

“WorldRemit Ltd. , a U.K. online money transfer company, has agreed to buy Africa-focused, app-based remittance firm Sendwave as the global pandemic intensifies demand for digital banking. The cash and stock deal is worth more than $500 million, according to a person with knowledge of the matter. The combined company will be valued at more […]
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Deals

Cannabis e-commerce startup Dutchie raises $35M from Howard Schultz, Snoop Dogg, Kevin Durant

“Dutchie, the Bend, Ore.-based creators of an e-commerce platform that helps cannabis dispensaries facilitate online orders, has raised $35 million in new funding, with backing from the likes of former Starbucks Chairman Howard Schultz and hip-hop star Snoop Dogg. With its software and marketplace solutions, Dutchie says it processes 10% of all legal cannabis sales […]
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On The Wires

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Deals

ConsenSys Acquires Quorum® Platform from J.P. Morgan

“ConsenSys, an industry-leading blockchain software company, today announced the acquisition of Quorum ®, an enterprise-variant of the Ethereum blockchain developed by J.P. Morgan. With the addition of Quorum, ConsenSys now offers a full range of products, services, and support for Quorum, accelerating the availability of features and capabilities—such as digital asset functionality and document management.”
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Deals

Xero acquires Waddle to help improve small business cash flow

“Today we’re excited to announce the acquisition of Waddle, a cloud-based invoice lending platform. Waddle helps connect small businesses to invoice finance, a form of secured lending that relies on a business’s unpaid invoices. The acquisition of Waddle is an important step in our strategy to grow Xero’s small business platform and to help our […]
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Companies

Deal between Visa and Plaid given the go-ahead

“The decision by the Competition and Markets Authority (CMA) follows a Phase 1 review in which it investigated several possible ways the deal could harm competition…The CMA’s investigation primarily focused on how the deal could affect competition in the UK consumer-to-business electronic payments sector in which Visa, through its card-based payments and Plaid, through its […]