FinTech news in online payments category

The new product has been created in partnership with National Philanthropic Trust (NPT) and Vanguard Charitable and allows Donor-Advised Fund (DAF) sponsors, community foundations and other grantmakers to move their donations electronically through PayPal’s platform. The company additionally notes it has entered into a commercial arrangement with grantmakers, like National Philanthropic Trust and Vanguard Charitable, to enable them to provide this new solution to their charitable communities. Back in 2016, for instance, PayPal added a new button inside its mobile app to connect users to its thousands of PayPal Giving Fund certified charities, which previously were only available online. In addition to moving money quickly, the system includes an online Grant Payments dashboard available to grantmakers and charities alike where they can view all the grant details, including the donor information, which can be exported to help simplify record keeping.

Rakuten Capital said that it saw a huge market potential for Indian-based rewards business opportunities, and Twid was well positioned to take advantage of this opportunity to build and scale its business model. In parallel with Rakuten, Google’s addition is expected to help Twid expand its model of enabling customers to make purchases using their multiple reward points.

And when you consider all of the elements that go into buying and selling goods and services, there are a lot of areas left for SumUp to tackle — big data analytics, more tools to build, manage and optimize, online sales experiences for its customers, more technology to use to improve how items are sold in physical commerce experiences and so on — all areas that SumUp can approach either through building its own technology, or indeed through more M&A. The solution for a company like SumUp — with the bread and butter of its business, point of sale payments, fundamentally a part of that in-person commerce experience — has been to diversify and double down on a wider array of services for its small business retailers customers. Nevertheless, turning that statistic around, POS payments still represents the bulk of the company’s revenues, so 60% growth is not just a testament to SumUp being able to grow that business in the last two years, but also the fact that in-person and point-of-sale payments remained active areas for transactions. To that end, it has used significant chunks of the debt it’s raised to date for acquisitions and to build out more services beyond POS payments, in areas like business banking (the basic version of which it throws in as a freebie), online payments and business services around both.

While they provide digital wallets to help facilitate money transfers, there’s a lack of mobile wallet interoperability outside their ecosystem; in essence, moving money from one fintech wallet to another fintech or non-fintech wallet (in the case of an embedded finance play) is hard.

MFS Africa infrastructure merges fragmented and disparate payment schemes across Africa into one seamless network so individuals and businesses within mobile money ecosystems can transact across borders and currencies.

In Nigeria, POS terminals are used to process card payments at retail locations as well as for agency banking purposes, a branchless banking system where agents act like human ATMs. Its mobile application allows small businesses across the retail, agency banking, hospitality and services sectors to perform similar tasks, such as tracking sales and managing business operations, said Olawale.

And while currently building out its buy now, pay later infrastructure (which gives businesses a chance to sell products regardless of whether customers have money or not), ThankUCash plans to add a fourth offering soon: a remittance product where merchants can sell directly to the diaspora.

Dedicated crypto platforms like Coinbase or even Paypal, Venmo and Stripe, which recently added abilities to use crypto for payments, could evolve into the U.S. versions of super apps, assuming crypto issuers can work with regulators to find a middle ground between protecting the consumer and creating new financial and investment opportunities.