P2P Payments

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.

Since the onset of the Covid-19 pandemic, there has been a huge increase in the amount of cross-border payment and ecommerce sales taking place.

Currencycloud has teamed with Moov, a developer platform focused on payments, in order to bolster payment capabilities for each other’s customers.

Chicago-based private equity firm Madison Dearborn Partners has acquired MoneyGram International, a digital P2P payments company, in a $1.8bn deal.

Denmark-based buy now, pay later (BNPL) firm ViaBill has secured $120m from an equity and debt round to bring the payment method to physical retail.

Research by Splitit has found that 54% of UK credit card users plan to use buy now, pay later (BNPL) services this year.

A report by FinTech Rapyd has found 93% of businesses see cross-border commerce as a high priority for 2022 and beyond.

FinTech company Zilch has revealed it has expended its partnership with Mastercard to help bring the former’s buy now, pay later (BNPL) card digital card to Europe.

In an age where the traditional form of in-person payments is being restricted due to Covid-19 restrictions, the rise of PayTech seems almost inevitable. With more people than ever now using payment technologies, the demand for funding is also climbing.

A new blogpost by Currencycloud has underlined how the coronavirus pandemic and the restrictions put in place due to it has led to the massive growth of digital remittances.