On The Web

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Tech

WeChat Launches Personal Credit Rating for 600m Users

May 14 2020

• in
• Artificial intelligence (AI)
• Mobile wallets

“WeChat Pay has announced a change to its 600 million users. It will now be giving them a credit rating – called “payment points.” These will be calculated by an artificial intelligence system based on consumers’ personal and credit records, plus habits and other factors said to represent users “credibility.” This system will also be […]

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Providers

Argentina’s Central Bank Trials Blockchain for New Interbank Settlement Layer

April 22 2020

• in
• Blockchain
• Central Banks
• Smart contracts

“The Central Bank of Argentina (BCRA) is testing a new blockchain-powered clearing system that could be used by some of the country’s largest financial institutions. Blockchain developer IOV Labs said Tuesday it had created a proof-of-concept, for a permissioned blockchain network, based on RSK Smart Contract Network , in conjunction with the central bank and […]

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Global

Google and Walmart establish dominance in India’s mobile payments market as WhatsApp Pay struggles to launch

June 4 2020

• in
• India
• Mobile wallets

“In India, it’s Google and Walmart-owned PhonePe that are racing neck-and-neck to be the top player in the mobile payments market, while Facebook remains mired in a regulatory maze for WhatsApp Pay’s rollout. Google Pay had more than 75 million transacting users last month, ahead of PhonePe’s 60 million users, people familiar with the companies’ figures […]

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Global

GCash to help taxis shift to cashless payments: transport dept

May 22 2020

• in
• Phillippines
• QR codes

“The Department of Transportation said Friday it tapped GCash to help equip taxis with scan-to-pay systems, as part of a pandemic normal that requires cashless payments. The joint venture of Jack Ma’s Alipay and Globe Telecom’s Mynt allows users to scan merchants QR codes and deduct the amount due from their mobile wallet. Digital payments […]

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Global

Airtel Payments Bank, Mastercard Tie up for Payment Solutions for Farmers, SMEs

May 27 2020

• in
• India
• NFC

“Airtel Payments Bank has partnered with Mastercard to build customised solutions for payments such as tap-and-pay NFC, credit facility and other neighbourhood banking services for farmers and SMEs. The companies aim to cater to underbanked spectrum of users and enable digital adoption via the partnership.”

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Companies

Google Confirms New Voice-confirmation Feature for Purchases in Assistant

May 26 2020

• in
• Google
• Voice interface

“A new setting to allow Voice Match to confirm purchases made through the Google Assistant has been spotted in the Assistant’s Payments and Security settings pane. We’ve confirmed with Google that the new feature is part of an early but limited pilot that allows you to authorize purchases in a handful of categories with just […]

On The Wires

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Deals

Neat, a FinTech Alternative to Banks, Raises USD11M to Fuel International Expansion

April 8 2020

• in
• Digital banking

“Neat, a Hong Kong-based FinTech company offering modern financial solutions to SMEs and startups, today announced raising a USD11 million Series A funding round. Pacific Century Group (PCG) led the round with participation from Visa, and MassMutual Ventures Southeast Asia, among others.  With the investment, Neat plans to continue its international expansion to support businesses that trade across borders.  Neat’s vision […]

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Providers

Introducing Samsung Money by SoFi: Do More With Your Money

May 27 2020

• in
• Debit cards
• Fintech
• Mobile wallets

“Samsung Electronics America, Inc., today unveiled Samsung Money by SoFi, a new mobile-first money management experience that brings a cash management account and accompanying Mastercard debit card along with exclusive benefits to Samsung Pay, in partnership with innovative fintech company SoFi. The account is secure, with no account fees and rewards users for saving—earning higher […]

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Deals

we.trade Digital Trade Finance Network strengthens collaboration with IBM

May 21 2020

• in
• Blockchain

“we.trade, a blockchain -based platform that makes international trade faster and more efficient, today announced an enhanced collaboration with IBM which will enable network enhancements and accelerate the global commercialisation of the platform. IBM has also become a new shareholder along with the 12 existing bank shareholders.”

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Tech

CITCON and Tulip Team Up to Launch Global Mobile Payment Solution

May 22 2020

• in
• QR codes

“CITCON , the leading mobile payment platform and Tulip , the global leader in store associate cloud-based mobile solutions, announced today a strategic partnership to enable QR mobile payment solution for luxury and fashion retail brands that will streamline their omnichannel payment process and increase revenue from global mobile wallet users.”