Want to buy stuff using bitcoin? Coinbase wants to help
Coinbase, a company that houses people’s digital wallets for bitcoin and other cryptocurrencies, has a new way to pay. The service, called Coinbase Commerce, “enables merchants to accept multiple cryptocurrencies” so funds arrive directly in their own wallets. It can be integrated straight into their own online checkout processes, Coinbase said in a blog post Wednesday. Bitcoin rose to prominence as a digital currency, but many today are cautious since its value has been highly volatile, transaction times are slow, transaction fees have been increasing, and many people bought cryptocurrencies not to spend it but to hang on in hopes its worth would continue to skyrocket. “Bitcoin has evolved to […]
Malaysian company partners with Chinese Alipay in digital wallet
Malaysia has witnessed a growing mobile wallet sector since the entry of the Ant Financial’s mobile solution Alipay into the country. Many Malaysian players have hurried into the mobile payments bandwagon to step into Malaysian e-commerce market, including MOL Global Inc. The group has launched its owned mobile wallet One2pay in the last month, after partnering with Ant Financial in offering Alipay to Chinese tourists in the country. MOL Global’s CEO told Xinhua: ‘When Malaysians see Chinese tourists come to Malaysia and use Alipay, they may ask why they cannot use that? So, I think that is good that Alipay has come to the region as it has excited the […]
Alibaba is picking up 33% of Ant Financial, its fintech affiliate that’s valued at over $60B
Alibaba has added an additional angle to the announcement of its latest financial report today with news that it is taking a 33 percent stake in Ant Financial, its fintech affiliate that operates Alipay and other financial services. The deal, which both parties said stems from an agreement made in 2014, will see Alibaba pick up newly issued shares in Ant, seemingly paving the way for a public listing. It will also mark an end to a profit-share agreement which saw Ant give Alibaba “royalty and technology service fees” equal to 37.5 percent of its pre-tax profits each quarter. The agreement will give Alibaba direct ownership of Ant, which is […]
How to build a Fintech Unicorn – How Adyen became a $2.3bn payments company
So here’s the good news. Investor interest in Europe’s financial technology sector has never been higher. According to a report published in September last year by Innovate Finance and Magister Advisers, VCs poured around $8bn into fintech startups and early stage companies across the continent between 2010 and 2017 and over the course of that period, deal sizes rose significantly. In London – generally considered to be Europe’s Fintech Hub – figures published in January by London and Partners found that the UK’s fintech sector attracted £1.24bn in 2017 alone. Looking ahead, the European Union as a whole and the United Kingdom have both implemented regulatory changes intended to make […]
UnionPay International signs long-term partner agreement with global payment innovator Verrency
Verrency today signed a long-term agreement with UnionPay International (UPI), a wholly owned subsidiary of China UnionPay (CUP), to offer Verrency’s innovative value-added services to Union Pay’s issuing banks across Asia. Verrency’s services will be delivered via the UPI Wallet, Union Pay’s innovative API service. Signing the formal agreement were David C. Link, Chief Executive Officer/ Executive Chairman, Verrency, and Shuan Ghaidan, Product Director, UnionPay International. Shuan Ghaidan said: “We are very glad to be working with Verrency to offer further control, service, convenience and security to our customers. Verrency’s innovative services will further enhance the value of the UPI Wallet and the value that Union Pay enables for its issuers. […]
The 10 Biggest Fintech Companies in America
Financial technology companies in the U.S. raised $3.5 billion in the first half of 2017, according to KPMG, as investors rushed to place bets in buzzy sectors like insurance and digital currencies. The U.S. is now home to 13 fintech unicorns who have scored valuations of at least $1 billion. This year alone, Robinhood (free trading), AvidXChange (automated invoicing for small businesses) and Symphony (Wall Street messaging platform) all joined the billion-dollar club. Here are the ten most valuable private venture-backed fintech players based in the U.S.: 1. Stripe Value: $9.2 billion* Founded: 2010 Founders: Patrick and John Collison CEO: Patrick Collison Allows merchants to accept online and mobile payments […]
Apple says it will overtake Samsung Pay by year’s end
Apple has indicated it plans to launch Apple Pay in a number of new territories before the start of 2018, a feat that would see it catch up to and overtake current digital wallet frontrunner Samsung. Speaking at the company’s earnings call yesterday, Apple CFO Luca Maestri says that “the reach, usage, and functionality of Apple Pay continued to grow.” He claims that “Apple Pay is by far the number one NFC payment service on mobile devices, with nearly 90 percent of all transactions globally. Momentum is strongest in international markets, where the infrastructure for mobile payments has developed faster than in the US.” “In fact, three out of four […]
Search for 2017 Fintech 100 innovators kicks off
Nominations are now open for the 2017 KPMG & H2 Ventures Fintech 100, the annual list designed to recognize leading fintech innovators. Visit www.fintechinnovators.com by Thursday, 31 August 2017 and nominate your company, or any fintech you think should be considered for the Fintech 100. The Fintech100, available at www.fintechinnovators.com, is compiled by fintech investment firm, H2 Ventures in collaboration with KPMG’s Global Fintech practice. The annual Fintech 100 includes both the leading 50 established fintechs, and the most intriguing 50 “emerging stars.” How to nominate and the judging process: Nominations for the Fintech 100 can be made at www.fintechinnovators.com website by Thursday, 31 August 2017. […]
