Payments News

On The Web

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Deals

Yoma to Buy Control of Myanmar E-payment Venture Wave Money

“Singapore-listed Yoma Strategic Holdings will acquire a controlling share in its Wave Money digital wallet joint venture while welcoming Chinese platform Alipay on board, as the group pushes to reach Myanmar’s many underbanked citizens. Yoma will buy a 51% stake in Wave Money operator Digital Money Myanmar from Norway’s Telenor for $76.5 million, the group […]
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Deals

Slice raises $6M to help young Indians pay digitally and build credit score

“Slice offers a prepaid card that comes with a pre-approved credit line, Rajan Bajaj, co-founder and CEO of the four-year-old startup, told TechCrunch in an interview. The Koramangala-headquartered startup focuses on people like Nayeem — young demography comprising mostly of students, freelancers, startup employees and blue-collar workers. Bajaj said more than 250,000 customers use Slice’s […]
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Deals

AMTD Digital to acquire payments platform Fomo Pay

“Singapore-based AMTD Digital, the integrated digital solutions arm of Hong Kong financial institution AMTD Group, said it’s set to acquire a controlling stake in QR code and payments solution provider Fomo Pay via a share swap and cash combination.”
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Deals

Mobile Money Gateway MFS Africa Has Acquired B2B Digital Payments Player, Beyonic

“MFS Africa, the pan-African payments gateway which connects wallets across different mobile money platforms through its API, has acquired Beyonic, a digital payments services provider for enterprises which operates in Ghana, Uganda, Tanzania, Kenya and Rwanda. As part of the acquisition, MFS Africa will absorb Beyonic’s entire team while Luke Kyohere, founder of Beyonic, will […]
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Companies

Uber, Postmates Agree on $2.65 Billion All-Stock Deal

“Uber Technologies Inc. has agreed to acquire Postmates Inc. in a $2.65 billion all-stock takeover expected to be announced as soon as Monday morning in the U.S., according to people familiar with the matter. Uber Eats head Pierre-Dimitri Gore-Coty is expected to continue to run Uber’s combined delivery business, according to a person who asked […]
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Companies

SoftBank Seeks to End Partnership With Wirecard

“SoftBank Group Corp. is looking to distance itself from Wirecard AG, after the Japanese tech conglomerate helped arrange a $1 billion investment months before the German payments company went bust. One of the world’s largest technology investors, SoftBank is seeking to terminate a five-year partnership its investment arm formed with Wirecard in April 2019, according […]

On The Wires

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Deals

CardWorks and Ally Financial Announce Mutual Termination of Merger Agreement

“Cardholder Management Services, Inc. and Ally Financial Inc. today announced that the companies have mutually agreed to terminate their merger agreement, previously announced on February 18, 2020, under which Ally had agreed to acquire CardWorks. Neither party will be required to pay the other a termination fee or break-up fee as a result of the […]
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Deals

PSCU Completes Acquisition of Primax

“PSCU, the nation’s premier payments credit union service organization (CUSO), today announced that it has completed the acquisition of the Primax business from T.K. Keith Company, Inc. Terms of the transaction were not disclosed. Based in Wakefield, Mass., Primax has been designing and providing support services for payment card programs for credit unions and community […]
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