Mastercard, a leading company in payment technology, has announced the launch of Mastercard Pay Local, a product designed to enhance cross-border payments by integrating with local digital wallets. This initiative, introduced just before the Singapore FinTech Festival, addresses the increasing demand for a seamless payment experience for both local residents and international travelers. With Mastercard Pay Local, cardholders can instantly
Ingenico, a leader in payment services, and the crypto trading platform Crypto.com have announced a partnership to enable crypto payments for Ingenico merchants worldwide. This innovative “plug-and-play” solution allows Ingenico merchants to accept cryptocurrency payments seamlessly, meeting the needs of over 680 million consumers. Central to this offering is Ingenico’s new merchant wallet, integrated with AXIUM Android terminals to streamline
In a notable achievement that underscores the growing importance of digital finance in Southeast Asia, Funding Societies has secured an impressive credit facility surpassing $100 million from HSBC’s ASEAN Growth Fund. This marks the third consecutive credit line extended by HSBC since 2022, reflecting a sustained commitment to supporting digital finance platforms addressing the needs of micro, small, and medium
MeaWallet, a renowned leader in digital payments specializing in card tokenization, has recently introduced innovative features to support Click to Pay, an online payment method designed to offer a seamless, secure, and faster online shopping experience. This development is set to elevate convenience for both consumers and merchants by enhancing the checkout process. Click to Pay functions similarly to contactless
In a move designed to give its customers more flexibility and ease when managing their finances, John Lewis & Partners has teamed up with Klarna, a global payments network and shopping assistant enhanced by artificial intelligence. This strategic partnership introduces Klarna’s Pay in 3 interest-free product on both the John Lewis website and mobile app. The initiative enables customers to
The 2024 Chargeback Field Report, released by Chargebacks911 alongside Edgar, Dunn & Company, reveals a concerning trend affecting businesses both large and small: over the past three years, 72% of merchants have experienced an increase in chargebacks, predominantly due to first-party misuse, commonly referred to as “friendly fraud.” As businesses grapple with this surge, many are resorting to raising prices
PowerPay, a US-based digital lender known for its innovative digital point-of-sale lending solutions and established in 2017, has recently secured a $60 million corporate bond exclusively facilitated by KeyBank. With over $8 billion in consumer loans processed to date, PowerPay specializes in home improvement, healthcare, and solar finance lending solutions. This substantial investment aims to enhance the company’s operational capabilities,
The recent announcement of a strategic partnership between FinMont, a global payment orchestration platform, and iPay, a leading African payment processing and billing provider, marks a significant milestone in the evolution of the payment landscape in Africa. This collaboration aims not only to expand FinMont’s payment ecosystem but also to integrate iPay’s seamless, real-time end-to-end payment services. This integration promises
A growing shift in consumer preferences has been identified, with an increasing number of individuals demanding more personalized benefits and rewards from their credit card providers. Notably, over half of the UK’s respondents reported relying on their credit cards to manage their finances. However, a significant proportion of these credit cards do not offer any rewards or loyalty benefits, prompting
Global technology company Wise has strengthened its position in the international finance sector with a new integration into the Philippines’ payment systems. This development is part of Wise’s ongoing mission to provide a more efficient alternative to traditional correspondent banking, a mission it has pursued for 14 years. By partnering with the Philippines’ instant payment system, InstaPay, and gaining access
Intesa Sanpaolo and Visa have renewed their strategic partnership with the joint objective of accelerating the digital transition and boosting growth in digital payments. This multi-year collaboration is set to enhance various existing projects while introducing innovative products and services for Intesa Sanpaolo’s customers. Enterprise customers will benefit significantly from Visa’s value-added services like Visa Business Solutions, whereas consumers will
Melio, an accounts payable and receivable platform catering to small and medium businesses (SMBs), has secured $150 million in a strategic Series E funding round led by Fiserv, with participation from Shopify Ventures and Capital One Ventures. This significant investment has propelled Melio’s valuation to an impressive $2 billion. Over the past three years, Melio has seen a dramatic ten-fold
