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MASTERCARD EXPANDS SUPPORT OF LATIN AMERICA REAL-TIME PAYMENTS WITH ACQUISITION OF ARCUS
Mastercard today announced it has acquired Arcus FI, an alum of the company’s Start Path program, to help support the delivery of bill pay solutions and other real-time payment applications across Latin America.
With offices in New York and Mexico City, Arcus helps to enable bill pay and cash-in, cash-out services for some of the biggest billers, retailers, fintechs and traditional financial institutions in the U.S. and Mexico, with expansion into Latin America. Its flagship solution, the Arcus Pay Network, has access to the largest retailers and direct connection with many of the largest billers in Mexico.
PAYCAST PARTNERS WITH MARQETA AND MASTERCARD FOR NEW MARKETPLACE PAYMENT SOLUTION
Marqeta , the global modern card issuing platform, Mastercard (NYSE: MA), a leader in global payments, and Paycast (an SPG Company), the marketplace payment engine, announced today a collective partnership to power and launch a digital card product to offer faster and more convenient ways for marketplace sellers to get paid and do business.
Specialising in high-value and time-sensitive transactions, Paycast enables marketplaces to hold funds in escrow between buyers and sellers until the conditions of sale have been verified. The ability for marketplace sellers to access these funds immediately on a virtual card provides more choice and a modern experience for accessing proceeds quickly and securely.
EMBEDDED FINANCE LEADER ALVIERE RUNS AD CAMPAIGN ANNOUNCING OFFICIAL ARRIVAL OF NEW ERA OF FINANCE
Alviere, the leading global embedded finance platform enabling any brand to deliver financial products and services to its customers and employees, today unveiled full page newspaper ads that officially announce a new era of financial services that will result in leading consumer brands offering all the same financial services traditionally only accessible at banking institutions.
The series of four ads appear in “The Wall Street Journal.” The ads carry bold titles and include a URL that directs readers to a landing page with more details about how brands can bring financial services to their large customer base to establish deeper, meaningful relationships with their existing customers.
KEYBANK ACQUIRES LEADING PAYMENTS INNOVATOR XUP
KeyBank National Association today announced that it has acquired XUP Payments, a B2B focused digital platform.
XUP’s technology enables simple, intuitive, client onboarding and servicing experiences. Its team of engineers has built integrations with processors, 3rd party risk tools, customer relationship management systems, and other fintech services, allowing banks to offer a more integrated and seamless payments experience. Key was an early investor in XUP, and this transaction follows a highly successful partnership between the two companies which transformed Key’s Merchant Payments capabilities, accelerating its top quartile volume growth.
GOOGLE PAY TO LAUNCH NEW VOICE FEATURE, ONLINE STOREFRONT
Google Pay will be adding features that enable users to enter account numbers and initiate payments using their voice, split bills within a group and, for merchants, easily build an online storefront, Business Standard reported Thursday (Nov. 18).
“We’ve been on a mission to make money simple, and in general, the way we think about it is creating a lot of economic opportunity for everyone, whether it’s banks or our partners,” Google Pay Vice President of Product Management Ambarish Kenghe told PTI, as quoted in the report.
MASTERCARD ADVANCES GLOBAL OPEN BANKING CAPABILITIES WITH CLOSE OF AIIA ACQUISITION
Mastercard today announced it has completed its acquisition of Aiia, a leading European open banking technology provider that offers single and secure API access to banks and fintech companies, and enables users to easily perform account-to-account payments. Aiia further advances Mastercard’s existing distribution channels, technology, data practices and global multi-rail and open banking strategy.
COMVIVA AND STRANDS PARTNER TO PROVIDE PERSONAL FINANCE MANAGEMENT SOLUTION TO BANKS, DIGITAL WALLET AND PAYMENT SERVICE PROVIDERS
Comviva, one of the global leaders in providing digital financial solutions today announced a strategic partnership with Strands to provide an integrated suite of intelligent digital banking, wallet and payment solutions.
Through this partnership, Comviva will leverage Strands’ smart Personal Finance Management (PFM) solution to enable banks and financial service providers to deliver personalized and contextual digital offerings to their consumers, enhancing consumer-engagement and generating cross and up-sell opportunities.
BLACKLINE TO COLLABORATE WITH MICROSOFT TO BRING GREATER FINANCE & ACCOUNTING AUTOMATION TO MICROSOFT DYNAMICS 365 CUSTOMERS
Building on its longstanding relationship delivering finance and accounting automation solutions to Microsoft Dynamics GP customers, BlackLine, Inc. today announced it is expanding on the collaboration to bring enhanced automation and financial operations management to Microsoft Dynamics 365 customers.
“Through our collaboration with Microsoft, we seek to help finance and accounting teams at midsize companies, as well as large organizations, gain control over their financial close, intercompany accounting, accounts receivable and other key processes for the office of the Controller,” said Mel Zeledon, senior vice president of channels and alliances at BlackLine. “Together we’re providing an end-to-end solution, delivering greater customer value through enhanced connectivity and integration.”
ALVIERE LAUNCHES AUTOMOTIVE EMBEDDED FINANCE PLATFORM
Alviere, a leading global embedded finance technology platform enabling any brand to offer a complete array of financial products and services to customers, fans, and employees, recently announced that AutoPay Plus, an automated loan payment service, offers a unique value proposition to its dealership partners across the country. AutoPay Plus offers car buyers and other consumers flexible payment options matched to their paychecks, leading to better budgeting, preventing late fees, and accelerating the loan payoff.
MOBI724 TO ACQUIRE LEADING B2B MARKETPLACE TO ACCELERATE GROWTH IN LATIN AMERICA
Accretive Combination with Avenida+ Will Allow Provision of End-To-End Solutions to Financial Institutions Significantly Enhances Revenue and Enables near Term Positive Net Cash Flow Further establishes Mobi724 as a leading fintech in Latin America and leverages its first-mover advantage in the fast-growing payment card market. Will accelerate Mobi724’s expansion into Latin America with an enhanced geographic presence, additional products and services, new revenue streams and numerous cross-selling opportunities.
LIFTFORWARD PLATFORM POWERS MICROSOFT STORE POS FINANCING PROGRAMS
Microsoft Store has selected the LiftForward Buy Now Pay Later (“BNPL”) subscription platform to expand financing offerings in the United States, United Kingdom, Canada, Germany, Austria, Spain, Italy, France, Poland and Benelux. In these territories, the LiftForward Platform connects various financial institutions with consumers to finance short-term BNPL solutions or longer-term financing options. The LiftForward Platform facilitates the customer experience at the point-of-sale and manages the credit applications, fraud detection, customer verification, underwriting, servicing, fulfillment, and customer support.
BUILT PARTNERS WITH GREENSTATE CREDIT UNION TO ACCELERATE COMMERCIAL LENDING
Built Technologies (Built), the fastest growing construction finance platform in the U.S., today announced that it is partnering with GreenState Credit Union to help it better scale its $2 billion commercial portfolio in the Midwest and support existing members more efficiently and effectively. As GreenState expands into key regional markets, including Chicago, it adopted Built’s platform to move past time-consuming legacy lending processes, paperwork, and spreadsheets, in order to provide a better experience for their members.
DOLLAR UP, GAINS AS RUSSIAN ROUBLE FALLS TO ALL-TIME LOW AMID FRESH SANCTIONS
The dollar was up on Monday morning in Asia, while the Russian rouble fell to a record low. Tensions over the Russian invasion of Ukraine continue to rise, with Western nations announcing fresh sanctions against Russia and Russian President Vladimir Putin putting nuclear-armed forces on high alert.
EDFUNDO LAUNCHES WORLD’S FIRST FINANCIAL INTELLIGENCE LAB & SMART MONEY MANAGEMENT APP
Two UAE-based teachers have fused edtech with fintech to create the first financial intelligence hub, complete with a learning resource and a smart money management app built by educators to nurture money management skills among kids and teens. The purpose-built learning resource – the Edfundo Learning Lab – comprises a mix of face-to-face and micro online, free, and paid-for educational programmes.
SYNECHRON ANNOUNCES THE LAUNCH OF ITS PAYTECH ACCELERATOR PROGRAM
Synechron, Inc., a leading global digital transformation consulting firm focused on the financial services industry, announced the launch of its PayTech Accelerator Program, aimed at helping banks and other financial services institutions seize new opportunities across the payments landscape and solve evolving common business challenges. This program leverages the expertise of Synechron, joining forces with the payments domain and technology experts from Attra, made possible through Synechron’s acquisition of Attra in December 2020. This is the ninth Accelerator program that Synechron has launched since September 2016 and offers a suite of cutting-edge, scalable solutions that are design-led, data-driven, and technology-enabled.
FV BANK INTRODUCES FIRST API TO INCREASE AUTOMATION OF ITS PAYMENTS AND DATA SERVICES
FV Bank, the US bank for digital asset banking and custody services, has introduced its first application programming interface (API) to advance bank automation and integration for its clients’ operations. FV Bank’s API will enable firms to scale their operations through automating data flows and payments systems. The API will streamline payments including ACH, Domestic Wire, international wires and internal transfers using FVNet, the FV Bank framework. Compliance functions will automatically run in the background, including sanctions screenings to ensure anti-money laundering compliance.