Payments

Feb
07

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 […]

DETAIL
Feb
02

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 […]

DETAIL
Jan
24

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 […]

DETAIL
Jan
18

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. […]

DETAIL
Aug
10

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 […]

DETAIL
Aug
07

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 […]

DETAIL
Jul
27

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.   […]

DETAIL
Jul
14

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 […]

DETAIL