Mobile Payments

Private equity firm Development Partners International (DPI) has injected $54m into Channel VAS, the FinTech company.

The British FinTech unicorn Transferwise is going across the pond to offer its international payments technology to American customers.

Payments unicorn Revolut has taken another step to prepare for Brexit by picking BearingPoint RegTech’s Abacus360 Banking solution.

Online Philippine payment provider PayMongo has raised $2.7m in order to leverage the country’s central bank’s ambition to go increase cashless payments by 20%.

Singapore is hotbed for FinTech innovation that has overtaken China as the biggest investment destination in the region. However, its leadership position is far from certain.

Myanmar-based, Onepay has just been launched with the support of Asia Green Development Bank (AGD)

Frankfurt-based Commerzbank will reduce its workforce by 4,300 people and close 200 branches amidst struggles with falling revenues.

The payment processing unicorn Stripe has joined the Silicon Valley elite after netting a $250m funding round and a $35bn valuation.

Google Pay is expanding in India with a new platform for merchants. The Spot Platform will empower businesses owners to create branded commercial experiences that bridge the offline and online worlds.

The world is in the midst of a cashless payment boom. However, many banks will not take the steps to embrace open banking and fear the looming threat of big tech companies’ competition.