Mobile Payments

Payment company Mezu has tapped into another vertical with its latest offering.

Visa has introduced its first Tap to Phone pilot in the US to support companies in making their operations more digitalised.

Bangladeshi B2B commerce platform ShopUp has secured $75m in a Series B funding round headed by Peter Thiel’s Valar Ventures.

Samsung has strengthened its hold of the African market by signing up South African financial services group Nedbank as its latest Samsung Pay partner.

Alibaba’s payment arm has bought a minority stake in Klarna as the Swedish FinTech looks to grow its global reach.

US-based on-demand software and e-commerce services firm Ebix is acquiring Indian payments service ItzCash. The company will pay $120m for an 80% stake of the Essel Group-owned business.

Having already unveiled the ability to set up euro direct debits last year, Revolut has now added the feature to UK pounds.

Indian buy now, pay later (BNPL) firm Pine Labs has secured a $20m investment from the State Bank of India, the largest commercial bank in the country.

HyperJar, a leading digital wallet company, has proudly unveiled the successful finalisation of a $24m Series A funding round. The investment round witnessed leadership from Susquehanna Private Equity Investments, LLLP, and received notable participation from the Healthcare of Ontario Pension Plan (HOOPP).

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.