Payments News

On The Web

nbsp;

Global

JPMorgan-Backed Brazil Fintech Plans to Expand in U.S., Mexico

“FitBank Pagamentos Eletronicos SA, a Brazilian fintech backed by JPMorgan Chase & Co. , plans to open a U.S. office in the first half of 2021. The payment-services firm, which has more than 100 clients in Brazil, is also expecting to start operations in Mexico, Peru and Colombia sometime next year, according to Chief Executive […]
nbsp; nbsp;

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 […]
nbsp; nbsp;

Deals

J.P. Morgan Buys Stake in Brazilian Fintech FitBank

“J.P. Morgan bought a minority stake in Brazilian fintech FitBank, its first strategic investment in the payments industry in Latin America. The price was not disclosed. The funds will be used to broaden the portfolio and for international expansion as the firm wants to be a “big financial tech.” In the region, the expansion will […]
nbsp; nbsp;

Companies

Brazil Suspends WhatsApp’s New Payments System

“Brazil’s central bank effectively suspended a newly-launched system allowing users of Facebook Inc’s WhatsApp messaging service to send money via chats, ordering Visa and Mastercard to halt payments and transfers via the system. The central bank said in a statement that rolling out the service without previous analysis by the monetary authority could damage the […]
nbsp;

Glenbrook

Where Necessity Meets Innovation – Government Disbursement in the Time of COVID-19

“Given the coronavirus pandemic and its pressure on governments and individuals alike, Glenbrook’s Global Practice has been looking into how emergency social disbursements can be made quickly to the most vulnerable populations. In our examination, we found some exciting and hopeful examples of how governments and fintech players have mobilized to meet this need in both […]

On The Wires

nbsp;

Domains

 Western Union Expands International Payment Services in Brazil

“The Western Union Company, a leader in cross-border, cross-currency money movement and payments, today announced an expansion of services between its Western Union Business Solutions division and Banco SEMEAR in Brazil to offer the WU® GlobalPay for FI platform, the Company’s solution for financial institutions that enables customers to make international payments simply and efficiently.”
nbsp;