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December 3, 2020

On the wires

7-Eleven Introduces Innovative In-App Wallet

“No pin pads to touch, less cash to handle and an easy, contactless way to pay… that’s the 7-Eleven Wallet. 7-Eleven, Inc.’s new app-based mobile wallet offers all customers — including those who would like to load cash — a true contactless, convenient way to pay nationally at participating U.S. stores. Easily accessible in the 7-Eleven app, 7-Eleven Wallet customers can securely load funds to use upon checkout using cash, debit and credit cards, Apple Pay, Google Pay and prepaid 7-Eleven gift cards. Cash must be loaded in store at the register, while other payment methods can be loaded in the app. Better yet, 7-Eleven Wallet users are not charged any loading or transaction fees and incur no interest fees like credit cards charge.”

November 30, 2020

On the web

Kenyan bank launches mobile payments service

International Comparative Legal Guides (ICLG)

“A partnership with a UK-based company will give Prime Bank customers in Kenya access to mobile payments. Nairobi-headquartered private bank Prime Bank has taken a further step into the fintech market by launching an international money transfer service, in collaboration with London-headquartered company SimbaPay. The service will allow customers to send money to bank accounts and mobile wallets in 15 countries, including Uganda, the United Kingdom, India, China and Germany.”

November 13, 2020

On the wires

Introducing Amex Send and Split: A New Way for PayPal and Venmo Customers to Send Money and Split Purchases

“We’re always looking for new and exciting ways to make it easy for you to send and receive money from your friends and family, whether you’re splitting the costs for food delivery or sending a gift for a special occasion. As we prepare for a holiday season that will look a little different this year, we’ve teamed up with American Express to offer their Card Members a new way to seamlessly send money, split purchases and manage their expenses with PayPal and Venmo.”

November 12, 2020

On the wires

AppBrilliance Secures Over $3 Million in Seed Funding To Disrupt the $4 Trillion Payment Processing Industry with Non-Custodial Technology for True Open Payments and Banking

AppBrilliance , an Austin-based payments technology startup, today announced it has closed over $3 million in seed financing as it lays the foundation for true open payments and open banking technology for US businesses. AppBrilliance’s technology for open payments and banking liberates businesses from having to rely solely on traditional payment processors for taking payments.”

October 9, 2020

On the web

September 30, 2020

On the web

Samsung Lets German Customers Link Any Bank Account to Samsung Pay

NFC World

“Samsung device owners in Germany can now link a personal account at “almost any” German bank to Samsung Pay and then use a virtual Visa debit card to make mobile payments in-store. “After successful registration for Samsung Pay, the user receives a virtual Visa debit card that can be linked to almost any German bank account,” says Solarisbank , the banking-as-a-service platform that worked with Samsung and Visa to roll out the service in Germany.”

September 18, 2020

On the web

U.S. Blocks WeChat Transactions


“The American government is banning the use of Chinese app WeChat for the transfer of funds or processing payments within the US. The Department of Commerce says it is prohibiting transactions relating to Tencent-owned WeChat, as well as another Chinese app, TikTock, to “safeguard the national security of the United States.”

September 14, 2020

On the web

TipMe Brings out Mobile Payments App in Liberia

Telecom Paper

“Electronic payment service provider TipMe has begun operations in Liberia to provide individuals and businesses with access to useful and affordable financial products and services. It offers a mobile money wallet, online voucher purchases, bill payment services, online international remittances, business services, salary payments and eCommerce platform. TipMe said the app-based service lets customers send money and receive money in US and Liberian dollars, and safely store cash in their wallets.”

September 9, 2020

On the web

September 2, 2020

On the web

Cash App’s Surge During Covid-19 Pandemic Fuels Square Stock

Wall Street Journal (paywall)

“Square Inc.’s Cash App looks a lot like a bank—digitally storing and transferring money for users. Investors don’t seem to mind. Square shares have rallied 28% in the past month and are up 166% since the start of the year, while bank stocks have fallen sharply. The run-up is mostly due to the popularity of its Cash App offering, which lets consumers send money to one another via smartphone, purchase things with a prepaid debit card and invest in bitcoin and slices of individual stocks, analysts and investors said.”

August 19, 2020

On the wires

Samsung Gives Millions of Customers More Control Over Their Money, With the All-New Samsung Pay Card, Powered by Curve

“Samsung Electronics Co., Ltd has today announced that the new Samsung Pay Card , powered by Curve , and in conjunction with global payments technology company Mastercard, will be available from August 18th [1] . With ONE simple to use digital-first card, Samsung Pay Card gives users complete control over their spending, without the fuss of having to change banks.”

August 13, 2020

On the web

August 10, 2020

On the web

Swapping cash for online payments in Rwanda


“The coronavirus crisis has caused many problems in Africa, but it cannot be denied that it is accelerating the adoption of some technologies on the continent. In Rwanda, motorcycle taxis have long been one of the most popular forms of transport. And due to the pandemic, now drivers are able to get the public to use contactless mobile payments, as well as implementing meters that take away arguments over the price of journeys.”

July 15, 2020

On the web

Gojek Lets DBS PayLah in on the Ride


“Customers of ride-sharing operator Gojek can now book and pay for their fares with DBS Bank’s digital payment app PayLah. The move is an extension of a partnership established in 2018, when Gojek began its foray into the Singapore market.  It gives more than 1.7 million users of PayLah the option to book and pay for their rides directly on the mobile payment platform, said the two partners in a joint statement Wednesday. PayLah last year was rolled out as the default in-app payment option in the Gojek app, allowing users who do not own a debit or credit card to pay via the digital mode. The DBS platform links directly to the customer’s bank account.”

July 8, 2020

On the web

June 30, 2020

On the web

South Africa’s MTN Allows Customers to Pay for Online Shopping Using Mobile Money


“South Africa’s MTN is branching into the online shopping space by providing its customers with the option to pay for online purchases using mobile money payment instead of a bank card. The spread of COVID-19 has accelerated the adoption of mobile financial services, which are increasingly being recognised as a means to mitigate the use of bank notes and coins amid the pandemic. With demand for e-commerce growing rapidly in South Africa, MTN will launch mobile money (MoMo) Pay for online shopping this week, it said in a statement on Monday.”

Mobile Money Gateway MFS Africa Has Acquired B2B Digital Payments Player, Beyonic

Quartz Africa

“MFS Africa, the pan-African payments gateway which connects wallets across different mobile money platforms through its API, has acquired Beyonic, a digital payments services provider for enterprises which operates in Ghana, Uganda, Tanzania, Kenya and Rwanda. As part of the acquisition, MFS Africa will absorb Beyonic’s entire team while Luke Kyohere, founder of Beyonic, will join MFS Africa’s leadership team. MFS Africa will also offer Beyonic’s enterprise-focused service as a product under its wider brand. The acquisition, terms of which are undisclosed, remains subject to regulatory approval by the Fair Competition Commission in Tanzania.”

June 29, 2020

On the web

Zimbabwe Suspends Stock Exchange, Mobile Payments Over ‘Economic Sabotage’


“Zimbabwe on Friday suspended trade on the stock exchange and mobile phone-based payments to address what President Emmerson Mnangagwa’s government called “criminality and economic sabotage.” The decision to suspend mobile payments will hit the economy hard as more than 80% of all transactions are conducted on phones due to a shortage of banknotes, according to central bank data.”

June 25, 2020

On the wires

Samsung Reveals the New Samsung Pay Card, Powered by Curve

“Samsung Electronics Co., Ltd has today announced a new partnership between Samsung Pay, the digital banking platform Curve, one of Europe’s leading fintechs, and Mastercard to launch the Samsung Pay Card.  The all-new digital payment solution will offer Samsung customers greater flexibility and control when managing their finances by offering a single view of spend, whilst also enabling a simple and secure way to pay.”

June 24, 2020

On the wires

Visa and TerraPay Partner to Drive Real-time Payments Interoperability

“TerraPay, a global payments infrastructure company, and Visa, have today announced a strategic partnership that aims to develop and deliver payment solutions to drive financial inclusion and cashless transactions for domestic payments and global remittances. The TerraPay and Visa global partnership is aimed to develop and deliver solutions to drive repeat consumption of the mobile wallets and digital currency for digital payments and remittances.”

June 15, 2020

On the wires

Mastercard Partners With Facebook to Enable Brazilians to Send and Receive Money Using WhatsApp

“Today, Mastercard announced the extension of its partnership with Facebook to offer a new and innovative way for Brazilians to send and receive money from friends and family on the WhatsApp application. Mastercard cardholders banking with Nubank and Sicredi are among the first in Brazil to experience payments on WhatsApp. Additional banking partners are expected to join the program soon. Leveraging Mastercard Send™, millions of WhatsApp users can now use their phones to simply and easily transfer money instantly (24 hours a day, 7 days per week)1 . As social distancing measures propel consumers to seek alternative, touch-free payment methods, consumers can use WhatsApp to transfer money and make and receive payments seamlessly, securely and in a contact-free way.”

Visa Partners to Launch Payments on WhatsApp in Brazil

“Visa Inc. today announced that it is working with Facebook to help power the new payments feature on WhatsApp in Brazil. With the addition of Visa’s trusted payment technology, WhatsApp users will now be able to swiftly and securely send and receive money to family and friends, and to make purchases from small businesses on the popular global messaging service. Payments on WhatsApp are made possible by tapping into the capabilities of Visa Direct, Visa’s real-time1 push payments technology, and Visa Cloud Tokenization, Visa’s new cutting-edge security capability that launches today in conjunction with payments on WhatsApp.”

June 9, 2020

On the wires

Flywire Improves Healthcare Patient Engagement and Affordability During COVID-19

Flywire , a high-growth vertical payments company, announced new enhancements to its leading healthcare payments platform during COVID-19 that improve patient engagement and affordability. Flywire’s pre-service payment plans, which were developed in partnership with health systems, enable healthcare providers to offer patients personalized payment options prior to service based on their specific financial needs. To enable healthcare providers to address the concerns of patients who may be experiencing financial hardship as a result of COVID-19, Flywire also offers customizable payment solutions that adapt to patients’ capacity to pay.”

June 3, 2020

On the wires

May 28, 2020

On the wires

PruPay Launches Touchless Payments for True Touch-Free Buying With Tipping, Optional Fees and a Feature to Pay It Forward

“PruPay, a Denver-based payments technology company, is working with PayPal to develop and launch a simpler way for merchants to request one-time payments from consumers via text messaging. While paying via text is already widely available from several providers, PruPay’s technology lab was able to add a few simple tools that help both merchants and consumers with their real-world problems. Currently, PruPay is waiving its normal fees to help small/medium businesses during the global pandemic.”

May 26, 2020

On the web

HSBC’s PayMe Reaches Milestone As Pandemic Powers Online Transactions

South China Morning Post

“HSBC’s digital payment platform PayMe is enjoying a surge in popularity during the coronavirus pandemic, hitting a new milestone since its introduction in 2017, as consumers go online to pay for everything from face masks to virtual social games. Its users reached the 2 million landmark last week, the lender said, representing a 25 per cent jump from a year earlier. The increase, together with 10 other e-wallets in the city, helped underpin a three-fold surge in transactions through the faster payment system (FPS) maintained by the Hong Kong Monetary Authority (HKMA).”

May 19, 2020

On the wires

May 18, 2020

On the web

On the wires

Wave Money and Ant Financial Services Group forms strategic partnership to promote financial inclusion for the unbanked in Myanmar

“Digital Money Myanmar Limited (“Wave Money”) and Ant Financial Services Group (“Ant Group”), operator of Alipay, today announced a strategic partnership to promote financial inclusion for the unbanked and underbanked communities in Myanmar. Ant Group’s expertise in mobile payment and digital financial services will help boost Wave Money’s technological capabilities to provide greater convenience and security in mobile financial services across Myanmar.”

May 8, 2020

On the wires

The Next Innovation for Samsung Pay

“In 2020, Samsung Pay will be expanding our service from being a rewarding way to shop and pay, to also being a rewarding way to manage money. Over the past year we have been busy developing a mobile-first money management platform. Our vision is to help consumers better manage their money so that they can achieve their dreams and goals. Now more than ever, mobile financial services and money management tools will play an even bigger role in our daily lives while also opening up new possibilities. As a first step to this broader vision, this summer Samsung in partnership with SoFi will introduce a new Samsung Pay experience with an innovative debit card backed by a cash management account. We are excited to share more details in the coming weeks.”

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