Thursday, May 19, 2022

10 Fintech News in One-Shot – Your daily dose

1. PayU CEO discusses the future of the company after acquiring BillDesk

PayU acquired it’s fourth Indian company last week. It was much talked about in the news when BillDesk was acquired for $4.7 billion.

In an interview with CNBC, the CEO, Laurent le Moal reveals their future plan. The company is planning to develop the FinTech industry in India. Cryptocurrencies can be used as a form of payment later in the future.

See the full interview here.

2. Robinhood plans to roll out a new feature

The American company is looking to add a new feature to give the users their paycheck via direct deposit.

This announcement is rather ‘defensive’ as against PayPal’s announcement about an investing feature that was made earlier this week.

Read the full story here.

3. Fintech companies are getting into each other’s territory.

With PayPal announcing an investment feature that will let users trade individual stocks and Robinhood declaring a feature that lets users receive paycheck, the FinTech industry is heating up.

CNBC explains how you should react to this heat as an investor.

Read the full story here.

4. A Fintech app for musicians

Nerve is a mobile banking app that has some unique features for the musician community. This app is available in English and Spanish.

It has some musician friendly features like FDIC-insured business debit and savings account, integration with artists’ streaming history and many more.

The banking services behind the app are provided by Piermont Bank, a digital commercial bank based in New York.

Read the full article here.

5. Square to launch Invoices Plus, a new paid subscription

Square has a popular feature that was given for free. However, it is now proving to be the one feature that might become its next big subscription service. It is free invoicing.

Some sellers who were already using the Invoices were notified of this via an email. However, there is no public announcement yet.

Read the full story here.

6. Poll reveals that majority of Europeans oppose cryptocurrency regulation by EU

A poll conducted by EuroNews found that 51% of Greece residents support their government regulating digital assets. However, it was not in majority in other EU countries. Here is their answer to the same.

● Italy- 47%

● Estonia- 46%

● Netherlands- 41%

● Germany- 40%

● Latvia- 39%

● France- 37%

31000 respondents from 12 EU member states took part in this survey.

Read the full story here.

7. UK is protecting its Fiat as other countries talk about launching their digital currency

China has launched its digital currency. The pilot project has already been successful. RBI has indicated that India is also looking to launch its CBDC.

This is because Britain has been reminded of the consequences of leaving cash too quickly. Many bank branches and ATMs have already disappeared from the country.

Read the full story here.

8. Mobile money FinTech pawaPlay raises $9 million seed funding

pawaPay is a London based payments company and it focuses on the African market. It provides a unified API that interfaces between mobile money infrastructure of African telecoms. The API then lets the merchants access these mobile money systems in one place, sending and receiving payments to a large number of people.

It has raised USD 9 million led by MSA capital and 88mph.

Read how the company is disrupting mobile money here.

9. Africa’s latest unicorn, OPay raises USD 400 million from SoftBank.

OPay is a mobile money platform launched by search engine, Opera in 2018. It has raised USD 400 million from SoftBank. The money will be used for expansion in African Markets like Egypt, Nigeria and the Middle East.

The company is valued at USD 2 billion after the deal. It is a digital payment app and the monthly transaction volumes have surpassed USD 3 billion already.

Read the full story here.

10. Greenhouse Lab inducts 8 African startups in 2021.

Greenhouse Lab (GHL) is a Fintech accelerator introduced by African Fintech investment fund and platform, Greenhouse Capital’s (GHC). It has welcomed 8 new African Fintech startups that range from personal wealth management, cross border remittances, FinTech infrastructure and diaspora services.

In this 6 week program, Amazon Web Services, Google for startups and InsidePR are corporate partners. They are also holding sessions.

Read the full article here.

To get our Fintech courses and Certificate at USD10, please use code GFA10 at check out/payment page, visit our website for Fintech courses – Global FinTech Academy

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