Modulr lands EMI licence from Ireland’s central bank
The licence will underpin the fintech’s European expansion.
Payments
Visa and Mastercard abusing UK duopoly, say retail groups
The major card schemes are accused using their position to charge increased fees.
Curve to launch new credit facility powered by Thought Machine’s Vault
Curve Credit allows customers allows customers to pay for their purchases in instalments.
Chinese regulator approves Hong Kong leg of Ant’s $30bn IPO
The company still needs approval from the Hong Kong stock exchange’s listing committee.
GPS secures Visa investment to fuel international expansion
Payments processing firm plans to branch out from Europe and South East Asia.
Canadian invoice firm FundThrough raises $50m to support SMEs
FundThrough aims to eliminate the “wait” for SME payments
Russia’s Yandex and Tinkoff scrap $5.5bn deal
Internal email suggests agreement was lost on nature of the merger.
Stripe acquires Nigerian start-up Paystack in $200m deal
Paystack has 60,000 business customers across Nigeria and Ghana.
TD Bank files lawsuit against Plaid for “duping” its customers
The bank claims Plaid is violating its trademark and tricking customers into handing over data.
CUNA Mutual Group acquires lending platform CuneXus
CUNA has been an early-stage investor in CuneXus since 2017.
Video: Top fintech stories this week – 16 October 2020
FinTech Futures’ weekly news round-up.
The end of apps
Is it time that we jumped from the app bandwagon?
Tide and GoCardless sign invoice-chasing payments partnership for SMEs
The two firms claim SMEs are suffering without timely invoice payment.
PayPal adds interest-free instalments to its UK wallet in BNPL play
Two thirds of British millennials use BNPL services.
FIMBank Malta taps Fiserv to improve financial crime risk management
Maltese bank to implement Fiserv AML Risk Manager.
GPS fills out executive team with handful of new C-level hires
Richard Hodgson, Shaun Puckrin, and Jerome Gudgeon join the payments firm.
Temenos appoints former SAS EVP as new European president
David Macdonald joins Temenos after 19 years at SAS.
Fintech Razorpay becomes India’s fifth unicorn during COVID-19
By 2025, Razorpay wants to have 50 million business customers.
Marqeta bags undisclosed Mastercard investment
“We want to invest in products, in customers and invest in continuing to grow globally,” says Marqeta.
Bulgaria’s Paynetics swoops in to buy part of Wirecard UK and Ireland
“Paynetics showed up as the white knight,” says Wirecard.
Crédit Agricole subsidiary Linxo unveils bank transfer payment solution
The solution is already connected to the main banks in France which have opened up their APIs.
Video: Top fintech stories this week – 09 October 2020
FinTech Futures’ weekly news round-up.
Capitec Bank selects HPS PowerCard to power new product launches
The South African Bank aims to “simplify” banking for its customers.
Mastercard and Ethoca deliver greater transparency in digital banking applications
All merchants can upload their logos at logo.ethoca.com for inclusion in online banking and payment apps.
Goldman Sachs to buy General Motors’ credit card portfolio
Goldman reportedly beats Barclays to nab consumer credit pool worth $8.5bn.
Sibos 2020: Industry has widespread “dissatisfaction” with transaction monitoring
Costs, compliance and confusion need to be solved by new technology, says panel.
Nexi and SIA seal €15bn mega-merger to form “Europe’s largest” payments provider
The two have around two million merchants, and around 120 million cards.
B-North raises £1m in ongoing Series A funding round
Manchester-based firm plans full launch for later this year.
Monese picks Thought Machine’s Vault to revamp core banking systems
Monese picks Thought Machine’s Vault to revamp core banking systems.
Daily News at Sibos 2020
Download your free copy of the Sibos supplement today!
Aussie start-up WeMoney raises $2m in seed funding
Financial health app plans to aid Australians in paying bills.
Sibos 2020: Banking Circle launches POBO and COBO payments transparency solutions
The solutions are available globally through Swift, Faster Payments, CHAPS, SEPA and local clearing.
Temenos hires Roger Klantschi as EVP for Americas
Former Infosys veteran joins Temenos to build on US drive.
French lendtech October raises €258m
€200 million of investment is headed towards Italian firms alone.
Does Europe really need its own Big Tech?
Almost a third of consumers find the idea of banking with a Big Tech appealing.
Video: Top fintech stories this week – 02 October 2020
FinTech Futures’ weekly news round-up.
South African association predicts the death of the cheque
PASA says it’s willing to help banks make the transition.
Wirecard operations cease in Singapore, MAS slaps down more charges
Wirecard SG needs to return all customer funds within the next two weeks.
The cloud promises unprecedented agility, and the time to create a roadmap is now
To gain the agility to compete in the modern banking environment, build and invest with the cloud in mind.
Swift launches project for “brilliantly simple” SME cross-border payments
The messaging and infrastructure network makes next step in new strategy.
