Singapore and India link up PayNow and UPI for real-time cross-border payments
The MAS and RBI will use a scalable cloud-based infrastructure to manage future increases in remittance volumes.
PayTech
Interview: How Opus is leading the financial services sector forward to a more sustainable future
“The way I see it, the fintech landscape has never looked better,” says TM Praveen, CEO of Opus.
African paytech Chipper Cash sheds around a third of its workforce
More than 100 employees at the firm have been affected, Techweez reports.
PPRO extends payments infrastructure to South Korea
This integration “opens up a gateway” for PPRO’s global partners to reach South Korean consumers, PPRO says.
Payoneer lands UK e-money licence from FCA
Payoneer secured the EMI via its subsidiary Payoneer Payment Services UK.
Video: Highlights from the exclusive global launch of Leda Glyptis’ book, Bankers Like Us
Take a look at the highlights from Leda Glyptis’ global book launch.
Citizens Financial Group taps Paymentus for bill pay and money movement services
Through the partnership, Citizens will deploy Paymentus Bill Center and Paymentus Loan Payments.
Saudi fintech Hala acquires UAE paytech Paymennt.com
Maher Loubieh, co-founder of Hala, says Paymennt’s product was a “clear fit” with their own strategy.
NewDay taps Checkout.com to streamline debit card payments
The partnership, which is already live, gives NewDay access to Checkout.com’s full suite of payment products.
Aussie fintech Shift lands $18m in Series C funding
Shift provides a credit and payments platform for Australian businesses.
New app Tapeeno turns Android phones into card readers
Tapeeno “significantly” reduces the funding delay most businesses experience, the firms claim.
India’s PhonePe nets additional $100m in ongoing fundraise
The new capital infusion follows a $350 million fundraise from General Atlantic last month.
PayPal reportedly halts work on stablecoin offering
PayPal is hoping to get a clearer understanding of the evolving regulatory landscape, Bloomberg reports.
Paysafecard CEO Udo Mueller departs firm
Mueller will focus on “helping other companies and entrepreneurial fintech enthusiasts in their growth ambitions”.
The future of financial services depends on global connectivity
To establish interoperability in global payments, a balance must be struck between collaboration and competition.
PayPal CEO Dan Schulman to retire by end of 2023
PayPal says it will begin its search for Schulman’s successor imminently.
Global Technology Partners names Olaseni Alabede as new CTO
Alabede was previously vice president of product development in Mastercard’s installments business.
Finzly opens up access to FedNow via API connection
Developers from fintechs and banks can now access the sandbox environment of FedNow via Finzly’s API.
European Parliament outlines plans for an EU-wide digital wallet
The use of the EU wallet will “always be voluntary”, MEPs say.
Singapore’s Tazapay bags $16.9m in Series A funding round
The round brings Tazapay’s total capital raised to $18.9 million.
Virtual card paytech Conferma Pay names Jason Lalor as CEO
Lalor most recently served as CEO of Square’s European business.
Banking Technology Magazine February 2023 issue out now
Cover story: HAPPY DAZE – Banking for cannabis businesses boosted.
UK’s Shawbrook Bank taps Cashflows to streamline payments
Cashflows will enable Shawbrook to process its e-commerce business finance collections through a virtual terminal.
South Africa to pilot national rapid payments programme this year
The national payment system forms part of South Africa’s Vision 2025 programme.
In 2023, payments will provide momentum for open banking adoption
Today, regulators are very focused on promoting competition and alternatives to card payments.
FIS reportedly axes 2,600 jobs amid ongoing strategic review
Bloomberg reports the cuts have taken place over the past few weeks.
Paytech Highline names Rebecca Mowat director of partnerships
Mowat brings over 20 years’ worth of experience in international trade and business to Highline, the firm says.
PayPal to lay off 2,000 staff over the next few weeks
The job cuts will see PayPal reduce its total staff headcount be around 7%.
US payments platform Moov lands $45m Series B
The funding will be used to refine and scale the platform, and address new payments use cases.
Singapore’s Trust Bank taps FIS for real-time payments
Trust Bank will make use of FIS’ real-time payments platform Open Payments Framework.
Marqeta makes first M&A foray with $275m Power Finance deal
The acquisition, Marqeta’s first, will “significantly boost” the firm’s credit product capabilities.
Valor PayTech hires Riaz Ladha and Eric Kirk to lead new business unit
Valor CEO Eric Bernstein says the pair will help the firm build new partnerships.
Marqeta appoints Simon Khalaf as new CEO
Khalaf joined in June as chief product officer and will replace founder, chair and current CEO Jason Gardner.
Commerzbank files lawsuit against EY over €200m Wirecard losses
Commerzbank has filed a suit against the accounting firm in Frankfurt court, Reuters reports.
Ecospend’s “pay-by-bank” open banking tech drives HMRC app payments
This is first time an open banking payment method was embedded in a government department’s system.
Court closes administration of UK paytech Goodbox, rules in favour of restructuring
The court has ruled in favour of a proposed US-style Chapter 11 restructuring of Goodbox.
PayPal faces antitrust investigation in Germany
The Bundeskartellamt is investigating “practices possibly foreclosing competitors and restricting price competition”.
US fintech PayEm bags $220m in funding
The funding came from Viola Credit, Mitsubishi Financial Group, Collaborative Fund, and others.
Dutch paytech Mollie promotes CTO Koen Köppen to CEO
Köppen was hired as Mollie’s CTO last year from Klarna.
US fintech DailyPay lands $260m funding to fuel growth
The company will look to boost domestic growth, expand internationally and invest in product innovation.
