Alipay launches merchant payment toolkit; & more!
Welcome to?your?daily?FinTech?news!
In case you missed it, please see below today's most relevant news, or tune in to our?Daily Fintech Podcast?here .?
NEWS HIGHLIGHT
Alipay launches merchant payment toolkit, a business digitalisation solution for brick-and-mortar businesses in the service industry. Link here
BREAKING NEWS
The PayRetailers Group & Manos Unidas present their final social responsibility action of 2022 in LATAM. Link here ?
Binance considers bank acquisition for equity upside. The banking industry could welcome a crypto billionaire as an owner with Binance founder Changpeng Zhao reportedly expressing interest in acquiring a lender. Link here
Alipay launches merchant payment toolkit, a business digitalisation solution for brick-and-mortar businesses in the service industry. Link here
Dave Inc., officially surpassed $5 billion in total advances and overdraft advances to its members with its ExtraCash service. This milestone was achieved at the end of the third quarter. Link here
INSIGHTS
Digital bank Chime , online lender Upstart and Intuit -owned Credit Karma are the latest fintechs to reassess staffing in the face of the economic downturn. Link here
Global FinTech financing activity totaled $4.8 billion across 265 deals in October 2022 with ten $100 million+ funding rounds. Link here
Africa has enjoyed an early-mover’s position in the application of fintech in effecting financial inclusion and economic transformation. Link here
FINTECH NEWS
Zilch hits 3m users in 24 months. The BNPL has increased its user base by half in the last six months to hit three million customers and turn a gross profit. Link here
Weavr opens office in Singapore. This availability of simple solutions to deploy financial services will further enable businesses in Singapore to drive innovation and create more value for all stakeholders. Link here
Mastercard announced that it would expand its Farm Pass digital platform across the Asia Pacific region. Link here
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DIGITAL BANKING NEWS
ANEXT Bank unveiled its latest initiative to enable inclusive financing for SMEs, which will allow SMEs to have one-stop access to a more comprehensive suite of services, and to gain a consolidated view of their business. Link here
N26 announced the appointment of its new Supervisory Board strengthening corporate governance as it continues to evolve its governance structures and becomes a Stock Corporation. Link here
Hazel, a Walmart- backed fintech, has been making changes to an online bank it acquired. Long-standing customers are getting fed up. Link here
Tandem Bank is launching a dedicated resource hub to tackle both the climate crisis and the cost-of-living crisis, and to help promote its mission of greener living. Link here
BLOCKCHAIN
Paxos announced that it has received a license from the Monetary Authority of Singapore (MAS) to offer digital payment token services under the Payment Services Act 2019. Link here
Grocery retailer Pick n Pay will start accepting cryptocurrency payments as a payment option to more stores, after the successful completion of the first phase. Link here ?
Seven startups from around the world seek to champion innovation through the Mastercard Start Path program which works with digital asset, blockchain and cryptocurrency-based companies. Link here
PARTNERSHIPS
UnionBank goes live on Metaco Harmonize? to launch cryptocurrency services. UnionBank is launching a pilot program for Bitcoin (BTC) and Ethereum (ETH) custody and trading services for select retail customers, a major step forward in the bank’s exploration of blockchain technology. Link here
Brex announced its partnership with Techstars to offer aspiring founders and early stage entrepreneurs exclusive resources to help them scale their business. Link here
Payer and American Express partner to accept B2B payments across the Nordics in Denmark, Finland, Norway, and Sweden. Link here
McAfee announced an exclusive partnership with Mastercard to offer Mastercard personal and small-medium size business cardholders access to award-winning online protection solutions. Link here
Nasdaq Ventures backs corporate treasury fintech's $7.3M Series A. InterPrice Technologies, Inc. announced the closing of its series A round, on November 2nd. Link here?
Zest AI raises over $50m and plans to use the new funding to rapidly expand access to AI-automated credit underwriting for all lenders. In broadening access to this technology. Link here
Francisco Partners backs restaurant management software firm TouchBistro . The funds will be used by TouchBistro to accelerate the company’s growth initiatives. Link here
Ethical lender Plend raises ￡40m and is expecting to see more people turning to its platform to restructure their debts. Link here
This ends?Your?Daily?Fintech?News. Let me know if there are any questions or comments. Until the next!
Regards,
Marcel van Oost
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