#PayTech / UBS Fund Pursues $400 Million Stake in SoftBank-Backed Paytm

A fund run by UBS’s asset management arm is in discussions to buy a stake in Paytm alongside some of the Swiss bank’s clients… UBS aims to finalize an agreement as soon as this month, though talks could still be delayed or fall apart… India’s rapidly-growing market has attracted global investors keen to capitalize onContinue reading “#PayTech / UBS Fund Pursues $400 Million Stake in SoftBank-Backed Paytm”

#EmbeddedFinance / Rapyd raises $300M on a $2.5B valuation to boost its fintech-as-a-service API

Rapyd, which provides an API-based “fintech-as-a-service” platform covering payments, banking services, fraud protection and more, has raised $300 million, funding that … will be used to expand its team, build out more technology… and make selected acquisitions. Rapyd’s customer base now numbers about 5,000 businesses, which includes marketplaces (labor marketplaces and marketplaces for goods), e-commerceContinue reading “#EmbeddedFinance / Rapyd raises $300M on a $2.5B valuation to boost its fintech-as-a-service API”

#PayTech / After breakup with Visa, Plaid could be eyeing public markets

After Visa’s attempt to acquire Plaid for $5.3 billion fell apart nearly one year after the deal was first announced, industry observers are betting that the startup will nix getting acquired by another company. Instead, Plaid is more likely to go public via a traditional initial public offering, a special purpose acquisition vehicle (SPAC), orContinue reading “#PayTech / After breakup with Visa, Plaid could be eyeing public markets”

#PayTech / Modern Treasury Raises $38M to Enable Faster, More Efficient B2B Payments

Annually more than $18.5 trillion of business-to-business payments are transacted in the U.S. via wires, checks, and ACH payments, with almost half of those still made via check. Payments take 1 to 3 days to clear and finance teams spend hours tracking them from initiation to approvals to accounting to reporting. Modern Treasury automates eachContinue reading “#PayTech / Modern Treasury Raises $38M to Enable Faster, More Efficient B2B Payments”

#PayTech / Checkout.com is Europe’s most valuable fintech again, following $450m fundraise

The fintech has tripled its valuation for the second time and is now valued at $15bn, nearly $5bn more than the next highest-valued fintech Klarna, making it the largest in Europe and the fourth largest fintech globally. [CEO and founder of Checkout.com]: “Payments affect everything from the customer journey to a business’s ability to enterContinue reading “#PayTech / Checkout.com is Europe’s most valuable fintech again, following $450m fundraise”

#PayTech / Data Snacks: Square’s Cash App user, card spending growth

Square’s Cash App is a core part of the payment company’s growth plans. Core to Cash App is peer to peer payment functionality, similar to Venmo and Zelle. Cash App has emerged to become a major player in bitcoin trading, driving billions of dollars to Square’s top line. 10% of the U.S. population, or 30,000,000,Continue reading “#PayTech / Data Snacks: Square’s Cash App user, card spending growth”

#BankTech / Visa, Plaid terminate $5.3 billion merger agreement

Almost exactly a year after announcing their $5.3 billion merger, Visa and Plaid have called off the proposed marriage, and the U.S. Department of Justice has agreed to drop its antitrust lawsuit challenging the deal. “We are confident we would have prevailed in court as Plaid’s capabilities are complementary to Visa’s, not competitive,” said AlContinue reading “#BankTech / Visa, Plaid terminate $5.3 billion merger agreement”

#PayTech #FinTech / Nine Payment And Fintech Predictions For 2021

[1] Payments go remote … Once a business and their customers have grasped the convenience and speed of sending and receiving money and taking orders remotely, we will see a continued growth of app based money exchange. This will occur both between people and from customers to businesses. [2] SMEs come back into fashion AsContinue reading “#PayTech #FinTech / Nine Payment And Fintech Predictions For 2021”

#PayTech / Square Has Discussed Acquiring Jay-Z’s Tidal Service

Square Inc., the digital-payment company run by Jack Dorsey, has held talks to acquire the music-streaming service Tidal as part of a push to diversify… Dorsey has discussed a potential deal with Jay-Z, the rapper and music mogul who acquired Tidal for $56 million in early 2015, said the person, who asked not to beContinue reading “#PayTech / Square Has Discussed Acquiring Jay-Z’s Tidal Service”

#PayTech / TransferWise preps for 2021 IPO

London-based online money transfer service, TransferWise, has asked investment banks to pitch in the new year for roles on an impending initial public offering (IPO). London is said to be the preferred listing destination of its founders, Taavet Hinrikus and Kristo Kaarmann… Goldman Sachs is understood to be well-placed for a leading role on theContinue reading “#PayTech / TransferWise preps for 2021 IPO”