India’s digital infrastructure has come a long way since the launch of the Aadhaar initiative in 2009. The country now boasts a network of interoperable platforms that enable digital identity, payments, and data exchange, collectively referred to as the Digital Public Infrastructure (DPI). This infrastructure has evolved to become a sovereign, self-owned technology stack aimed at providing essential services to
The payments industry is on the brink of a major revolution with the launch of FedNow, a real-time payment service by the Federal Reserve. This long-awaited service is expected to accelerate money movement between accounts, transform bill payments, and enable instant payments for various use cases that are yet to be imagined. It is scheduled to go live in July
Small businesses have been a vital contributor to the economic development of India for decades. According to the Ministry of Micro, Small, and Medium Enterprises, there are over 63.4 million micro, small, and medium enterprises in India, employing over 110 million people. However, one of the significant challenges faced by these small businesses is obtaining credit from traditional financial institutions.
The financial industry has undergone a significant digital shift in recent years, with Fintech apps leading the charge. These apps have proven to be extremely resilient to economic pressures, demonstrating their adaptability and innovation in a rapidly changing industry. In this article, we’ll take a closer look at some of the key trends and developments in the Fintech sector, highlighting
Mobile Commerce and Local Payment Methods in the Middle East and Africa – Opportunities and Challenges for Merchants.The Middle East and Africa regions are witnessing a rapid rise in e-commerce, largely driven by mobile commerce. According to a recent report, mobile commerce is expected to constitute 70% of online transaction value by 2025 in the Middle East and North Africa
SoFi Technologies, Inc. has recently acquired Wyndham Capital Mortgage, a leading fintech mortgage lender, in an all-cash transaction. This acquisition will open up new opportunities for SoFi to expand its suite of mortgage products available to its members, while also enhancing unit economics and taking ownership of the fully digital platform that has already set industry standards. Benefits of the
In recent years, we have witnessed a significant shift towards digital payments due to the widespread adoption of technology and increased consumer demand for faster and safer payment methods. As a result, we have seen a rise in account-to-account (A2A) payments, which offer an instant and secure way to send and receive money. In this article, we will take a
Presta, a digital lending platform, has announced its launch after raising $3.3 million in pre-seed funding. The platform will support the entire process of lending to small businesses, including application, underwriting, closing, servicing, and reporting. In a world where technology has revolutionized everything from retail to education, Presta’s launch could be significant. Funding and Expansion The company’s pre-seed funding will
Elyn, a French FinTech company, has raised $2.7 million in its pre-seed funding round. The investment was led by Headline and Sequoia Arc. The platform aims to provide customers with better flexibility and convenience in online shopping. Offering a unique “try-before-you-buy” option Elyn’s unique offering provides customers with the ability to try items before they have to pay for them.
As the global adoption of digital payments increases, commercial payments are no exception. With the rise of technological advancements, financial leaders must keep abreast of IT trends to remain competitive and focus their resources despite the economic instability. Interestingly, many CFOs do not consider the costs involved in making or receiving a payment, but instead, they consider the overall expense.
With the growth of cross-border payments and e-commerce, the need to address fraud in this industry has become increasingly crucial. Fraudsters target cross-border payments due to the high value of transactions and the complexities involved in verifying identities across different countries. In this article, we will explore the growth of cross-border payments, the impact of fraud on businesses, the laws
In today’s digital age, marketplace businesses depend on frictionless payment experiences to boost user satisfaction and revenue. This is where MANGOPAY and PayPal come in, two industry leaders in the world of online payments. The strategic partnership between the two companies is not a recent development, but the latest announcement reveals a notable extension of this relationship, with enhanced functionality
