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billion payments Advance Intelligence Group Valuation: $2 billion Founded in 2016, Advance Intelligence Group is the parent company of Atome Financial, ADVANCE.AI, and Ginee. The city is home to four fintech unicorns in Asia: HashKey Group, WeLab, Micro Connect, and ZA Group, each pushing the boundaries of digital finance in unique ways.
Banking institutions across Asia Pacific are under increasing pressure to modernise. Whether in current or emerging markets, banks are riding the tide of a rapidly shifting landscape defined by digital technologies, adapting to regulatory requirements, rising customer expectations, and stiff competition from nimble fintech startups.
Skip to main content CONTINUE TO SITE ➞ Dont miss tomorrows Payments industry news Let Payments Dives free newsletter keep you informed, straight from your inbox. Published June 20, 2025 Patrick Cooley Reporter post share post print email license American Express announced a refresh of its Platinum credit card on Monday.
Indigenous Banking (Shroffs and Mahajans): Long before modern banks, India had a thriving indigenous banking system. Moneylenders, traders, and Shroffs (money changers and bankers) facilitated credit and remittances. They were crucial for financing trade routes within India and internationally.
Despite a clear funding slowdown across global markets , Indias fintech sector continues to command significant capital, ranking as the third-highest funded fintech ecosystem globally after the United States and the United Kingdom. A standout USD $658 million Series D in 2023 signalled continued investor confidence. billion.
small and medium-sized business (SMB)-focused bank Tide said it has a new relationship with Mastercard that makes Tide one of the card company’s principal issuers, Finextra reported Monday (July 20). Tide, which launched in 2016, has its headquarters is in London. The bank also has offices in Sofia, Bulgaria, and Hyderabad, India.
It looks like a race is shaping up to determine the future management of General Motors ’ credit card business. However, the Journal cited unnamed sources as saying that the London-based Barclays is also bidding for GM’s card business, while current issuer Capital One is unlikely to let the account go without a fight.
MoneyGram and Visa announced today (July 24) that they have partnered to deliver real-time digital disbursements to MoneyGram customers using Visa’s push payments platform, Visa Direct. MoneyGram is the first cross-border use case for Visa Direct,” Frew told Webster. Remittances have always been about people sending money to other people.
“Going mobile” and “embracing omnichannel” have essentially become go-to buzzwords for retail in 2016. Kohl’s has been particularly pegged by the rough road that retailers — particularly department store players — have faced in 2016. In Kohl’s case, it was a decline of 1.8 percent year over year.
From credit card companies to retailers and consumers, there are many key stakeholders in the commerce process, both on and offline. As eCommerce pushes its way onward and upward, retailers are continually looking for ways to protect consumer data while providing a quality commerce experience for all parties involved.
Continue to reduce any buying/selling friction. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. But it’s clear that the company remains very focused on building financial services products that support its core strategic goal: increasing participation in the Amazon ecosystem. Amazon Payments.
Governmental initiatives In 2016, the Taiwan government launched a new industrial development policy to expedite transformation and upgrades – the ‘Five Plus Two’ Industrial Innovation Plan. These economies have since developed into fully advanced nations. Taiwan’s gross domestic product (GDP) per capita is over $35,000.
Once they have enrolled their eligible card through the app, members can peruse all of the enhanced mileage-related offerings from different merchants in the program. Members who enroll by March 31 can earn 1,000 miles by adding an eligible card. It is available to United Chase Visa cardholders who live in the United States.
The Egyptian government is investigating the possibility of a feasible transition to a limited, new cash payment system that would replace the ration cards on which tens of millions of the country’s neediest residents currently rely for basic human needs, according to Bloomberg.
The rapid proliferation of headlines indicated that everyone came back from summer vacation tanned, rested and committed to finishing off 2016 with a sprint. Some of the big news was expected — the iPhone launched to a collective yawn and probably decent sales in its first weekend. Well, no one but maybe Amazon. Need to know more?
As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Virtual card issuance. Business lending and corporate cards. Supporting merchant partner growth. Growing the internet economy.
After a two-year run on the job, Bindra decided to move back to San Francisco, although he will continue as an advisor for the company and support “strategic initiatives,” the company said Tuesday (March 3). He held that job from 2016 through 2019. Rau is replacing outgoing CEO Vicky Bindra.
Courtesy of the partnership, Wise Platform will power a new global account and international debit card for Nubank. Brazilian fintech Nubank has partnered with Wise Platform to power its global account and international debit card. Nubank introduced itself to Finovate audiences in 2016 with its presentation at FinDEVr NewYork.
The commercial card space is anything but straightforward. For one, payments innovation has created an explosion in the types of cards businesses can use, from fleet cards to one-time-use virtual cards. One of them is CSI globalVCard , a winner in the 2016 PYMNTS Innovation Project Awards.
and the restaurant lost his credit card: “I kept thinking that there must be a solution to fix the inadequacies of nightlife out there, or someone must be developing it.”. and the restaurant lost his credit card: “I kept thinking that there must be a solution to fix the inadequacies of nightlife out there, or someone must be developing it.”.
Between 2015 and 2016, U.K. have doubled the amount of cashless payments within the past decade due to the increased use of debit and credit cards, according to the UK Cards Association (UKCA) research we shared last week. billion purchases to 2016 at 16.4 billion purchases to 2016 at 16.4 The drivers of the U.K.
The move pushes Visa ever further away from cards and toward its goal of becoming, as management has often described it, a “network of networks.”. Holiday (and Post-Holiday) Shopping: Throughout the month of December helped push retail sales up more than 5.8 branded cards business grew by 10 percent. percent year on year.
But keeping track of it all can be a challenge — especially knowing what card is being charged, by whom, and when. Knowing which card pays which subscription, let alone canceling them, can be a pain point. Founded in 2016 in Gothenburg, Sweden, Minna enables customers to manage subscription services via their bank’s app.
As the new year takes shape, the latest test in the push and pull of various stakeholders can be found in India. The stated goal has been to boost digital payments, especially transactions across RuPay cards, which are domestically issued by the National Payments Corporation of India (NPCI). Anticipating The Reaction.
The year 2016 has not been an easy one for Target — as its same-store sales have slipped, grocery has been an ongoing problem, and Target finds itself increasingly squeezed from two sides: by an expanding Walmart in the physical world and an ever-growing Amazon online. Young With Expendable Cash .
From shifting use of various payment rails like ACH and cards, to deployment of FinTech technologies, to changing supplier payment habits, the report offers a glimpse at the current state of B2B payments – and where the industry may be headed. But how businesses reshape their payment practices varies. Globalization. Payments Rails.
Some bitcoin companies see this period as a time to push the adoption of bitcoin in a country that has a large unbanked population at 21 percent. The merchant Zebpay is enabling some of its users to buy discount gift cards of popular U.S. But on a more commercial note, Indians are expected to spend as much as $1.7
JPM’s digital push, a theme it refers to as “Mobile First, Digital Everything,” is showing positive early results. JPM continues to improve its existing apps while also focusing on developing new ones (such as Finn) for future customers. JPM boasts an industry leading credit card network. First Name.
But, of course, for those know how the story turned out at Lending Club in 2016, well, the exciting potential quote drew something of a chuckle. The company’s share price continue to rise in its firm week of trading, meaning as of December 2014 Lending Club’s total valuation was about $10 billion — higher than all but 14 U.S.
The COVID-19 pandemic has changed how consumers buy goods, and some of these new payment behaviors could continue well after the crisis ends. Customers are also looking for options like digital and card-not-present (CNP) transactions that allow them to make eCommerce purchases as smoothly and seamlessly as possible. . percent of U.S.
Analysts continue to flesh out their predictions for payments and FinTech in 2017, but one can never truly know the exact direction an industry will take. Second, global B2B transactions will continue to increase in frequency.”. Find out what they had to say below.
Instead, startups in the payments processing, commercial card and cybersecurity market landed the top rounds of the week — with one company securing a $3 billion valuation with its massive investment. Drip Capital. Though the firm is headquartered in the U.S., Drip said it will use the funds raised to scale up and enter new markets.
Never mind the people who start rummaging around in their purse or wallet to pull out their cards after stepping up to the checkout counter. The specific issue that I’m referring to is merchant surcharging – a fancy term to describe the fee charged by merchants when consumers use network-branded card products to pay for their purchases.
Essentially, the two main areas of interest that the city is helping push forward in terms of technological advances are public transportation and environmental-related tech. billion in 2016. Over the last five years, Mexico City has continually built up its tech scene through education at its local universities.
Ramp is a New York City-based fintech startup founded in 2019 that offers corporate charge cards paired with an expense-management platform and finance tools. Its core mission is to help businesses save time and money. It has more than 1,000 employees and a revenue run rate of $700 million. billion in April 2024.
A pair of late 2016 studies indicated that Japanese consumers, despite being digitally enthused, vastly preferred to make their payments in cash , with 70 percent of consumers across demographic groups reflecting that preference. It’s the market that should ignite but stubbornly refuses to. percent).
And the rise of contactless payments seems connected to card payments, not necessarily digital wallets. That means users don’t have to offer card details when they make purchases, as NFC World reported. On Tuesday (Sept. Perhaps no surprise, in the age of the pandemic, is the health pitch. It could use the torque.
Visa, reporting fiscal second quarter results on the heels of two major changes in structure and at the helm — the first through the acquisition of Visa Europe and the latter through the two-quarters-old tenure of Al Kelly as CEO — showed growth across all major business lines as consumer spending continued on a robust path. billon cards.
Muted corporate spend tempered American Express’ performance in its commercial card segment, and regulatory uncertainty is on the radar for Fifth Third Bancorp. So how did the credit card giant do in the commercial card area? Costco card products, bought by Citi last year. Fifth Third Bancorp.
Despite that singular event, debt collectors continue to represent a huge swath of consumers complaints: One-third of all complaints in 2017 were about debt collections. Debt collectors are historically an unpopular group of people. Even the Bible has shade to throw their way. Part of that is the nature of the beast. Repaying money is not.
Some question whether the card-payment network operator will be able to overcome the struggle to “remain relevant” in a market that is quickly changing — and where consumers may soon be leaving card-based payments behind entirely. UnionPay is facing an increasingly competitive and complicated world these days.
The B2B payments industry continues its push to break businesses’ habit of using paper checks, but players are divided on what payment rail should take their place. In Karmic Labs’ latest white paper , “Prepaid Expense Cards: Helping Small Businesses Solve Cash Flow Dilemmas,” researchers surveyed U.S.-based
million Americans experienced fraud in 2017, and roughly 30 percent were notified of a data breach last year — a 12 percent increase over 2016 — as bad actors stole nearly $17 billion from unwitting victims. They can self-select rules on how they want to use their debit card. All told, 16.7 Getting Customers To Buy In.
million units shipped in 2016,” with Apple moving past Fitbit and Xiaomi for overall leadership. “Interest in smartwatches continues to grow, and Apple is well-positioned to capture demand,” said Ramon Llamas, head of wearable research for IDC. That might not be entirely unfair, but growth is happening. million units, up 10.3
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