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. […]
Praise the lord: Pushpay shares rise after $33m placement
Pushpay, an ASX-listed fintech seeking to convert United States church goers to donating via their mobile phones, has raised $US25 million ($33 million) in an oversubscribed placement as it targets a doubling of revenue next year. Fifteen new institutional investors in Australia and New Zealand, where Pushpay is also listed, backed the private placement at $NZ1.51 per share, 26 per cent below the price when it raised $54 million ahead of its ASX float last October. The latest fundraising was managed and underwritten by Deutsche Craigs and Ord Minnett and initially reported by Street Talk. When the Seattle-based company resumed trading on the ASX on Thursday, shares rose 6.9 per […]
Ireland is well placed to ride the fintech wave
It was almost inevitable that Dublin would emerge as the hub of a thriving fintech sector in Ireland. The co-existence along the banks of the Liffey of the well-established International Financial Services Centre (IFSC) and the more youthful “Silicon Docks” with its coterie of world leading born-on-the-internet firms created an ideal breeding ground for the new sector, which merges traditional financial services with the latest advances in social media, data analytics and artificial intelligence technologies. According to the Fintech & Payments Association of Ireland (FPAI), fintech in its broadest sense comprises every area of technology and innovation in the financial services arena, including payments, trading and foreign exchange, big data, […]
Saxo Payments calls for Fintech Industry to step up and help merchants reach their full international trading potential
The findings from the latest Financial Stability Board (FSB) underlines the on-going challenges faced by businesses, when trading internationally, reinforcing the findings produced in Saxo Payments White Paper Cross Border Payments for Cross Border Merchants – An Internationally ‘Local’ Future – published last week. Anders La Cour, CEO of Saxo Payments: “The latest report highlights the growing need for the FinTech sector to utilise the new ecosystem of financial utilities to help merchants reach their full international trading potential. A distinct lack of viable options in offering a global account infrastructure that merchants can access quickly and cost-effectively has halted over 39% of merchants recently surveyed by Saxo Payments[1] from […]
Vantiv offers Worldpay a deal valued at $10 Billion
Worldpay Group, the British payment processing company, said on Wednesday that it had agreed in principle to be acquired by Vantiv, an American rival, for 7.7 billion pounds. The transaction, valued at about $10 billion, is one of the most significant in the field since the financial crisis. Payment processing has become increasingly important for financial institutions as more people shop online and move money using cellphones or other digital devices. Worldpay disclosed on Tuesday that it had received takeover approaches from both Vantiv and JPMorgan Chase, an announcement that sent its shares 23 percent higher. Shortly after the deal was announced on Wednesday, JPMorgan said it did not intend […]
FinTech brand TrueMoney paves the way for low remittance rate for Filipinos
TrueMoney is the largest and fastest growing mobile payment and financial service provider is Southeast Asia. It was established in 2003 as part of the True Corp and CP Group. In the last 2 years, they expanded to other emerging markets in Southeast Asia. They now have presence in multiple markets such as Thailand, Cambodia, Myanmar, Indonesia, Vietnam and the Philippines, with more markets being opened soon. Xavier Manzan, Country Managing Director and CEO for TrueMoney Philippines said, “Our Mission is really to provide access to affordable financial services, to particularly the unbanked and underserved populations today.” In the Philippines, 70% of adults are considered “unbanked,” according to Manzan while […]
Investors are preparing to give fintech app Revolut £50 million even though it’s bleeding money
Fast-growing fintech app Revolut is close to sealing a £50 million funding round that will value the nascent company at £300 million, Sky News reports. London VC Index Ventures, already an investor in Revolut, is leading the round, Sky says. Silicon Valley investor Ribbit Capital is also said to be taking part in the round. CEO and founder Nikolay Storonsky told TechCrunch earlier this month that the company was close to “large equity round.” London-based Revolut offers a pre-paid international currency card, initially offering zero-fee, zero-commission foreign exchange. Cash is pre-loaded to the card through an app. The big round and chunky valuation are eye-catching for a number of reasons. […]
