The Payment Systems Regulator (PSR) is taking action to safeguard UK businesses from soaring costs by proposing a cap on cross-border interchange fees for credit and debit cards. This measure aims to address the growing burden faced by UK businesses and ensure a fair and competitive payment system. Proposed Cap on Interchange Fees To address the issue, the PSR has
In a recent investment round led by Eos Venture Partners, Mulberri, a rising player in the insurance industry, has successfully raised a substantial sum of $6.75 million. This fresh injection of capital serves as a pivotal moment for the company, expressing the unwavering confidence investors have in its innovative business model and future growth prospects. Significance of Investment The significant
Saudi-based business lending marketplace, Lendo, has recently announced a successful Series B funding round, raising an impressive $28 million (SAR 105 million). The funding round was led by Sanabil Investments, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF). With this latest round, Lendo’s total funding has reached $35.2 million (SAR 132 million), further solidifying its position in the market.
GoCardless, a leading bank payment company, has partnered with Acre, an all-in-one platform for mortgage and protection brokers, to revolutionize the way service fees are collected from clients. This partnership aims to simplify and optimize the payment process, making it more seamless and cost-effective for brokers. Integration of Payment Features GoCardless integrates two essential payment features, namely direct debit for
In a strategic move to bolster its position in the market and expand its cross-border payment services, Bitmama Inc. has recently acquired Payday, a renowned virtual card service provider. This acquisition marks a significant milestone in the evolution of cross-border payments and sets the stage for Bitmama Inc. (now operating as Changera) to deliver even greater value to businesses and
In a surprising move, Amazon.com Inc (NASDAQ: AMZN) announced that it would no longer offer Venmo, a popular payment method backed by PayPal Holdings Inc (NASDAQ: PYPL). This decision has created a significant impact on PayPal’s stock value while shedding light on the growing importance of web3 payments in the modern digital landscape. Amazon Drops Venmo as a Payment Option
In an ever-evolving retail landscape, innovations in and around the point of purchase have become essential for improving the overall customer experience. Whether it is in-store or online, technology plays a pivotal role in streamlining operations, enhancing security, and personalizing interactions. As we approach the holiday season, retailers must reimagine the power of payments to strengthen their defenses, ensure efficiency
Endowus, a leading digital wealth management platform, has joined forces with Brookfield Oaktree Wealth Solutions to expand its private credit offerings for clients based in Singapore and Hong Kong. This partnership aims to provide individual and family office investors with access to institutional-quality portfolios, offering a flexible and “all-weather” approach to investing across the private and public debt spectrum. With
CaixaBank, a leading financial institution, has formed a dynamic and diverse task force consisting of over 100 skilled professionals dedicated to the development and deployment of generative artificial intelligence (AI). This team is working collaboratively with tech giants Microsoft and Accenture at their offices in Madrid and Barcelona to leverage the potential of this groundbreaking technology. Collaboration with Microsoft and
In a remarkable move, Mine, a leading privacy tech startup, recently secured $30 million in a Series B funding round co-led by PayPal Ventures and Battery Ventures, with significant investment from Nationwide Ventures. This substantial funding underscores the growing demand for robust privacy solutions in the face of evolving data privacy regulations and the need for enterprises to navigate the
Igloo, a leading insurtech operating in Asia, has successfully closed a substantial Pre-Series C funding round, securing a total of $36 million. This funding round, which underscores the growing interest in the Asian insurtech market, was led by global investment firm Eurazeo. Backed by the insurer BNP Paribas Cardif, Eurazeo’s involvement highlights the institution’s commitment to nurturing innovative technologies and
The world of commerce has witnessed a remarkable shift towards digital platforms, with online shopping becoming increasingly ubiquitous. As consumers embrace the convenience of purchasing products and services from the comfort of their homes, the need for secure and efficient payment processes has become paramount. This is where payment gateways come into play, serving as crucial intermediaries that facilitate smooth
