Valu joins ShipBlu, PayTabs Egypt for e-commerce payments
Valu, a leading universal financial technology powerhouse in Mena, haas announced a strategic partnership with ShipBlu and PayTabs Egypt to transform payment methods for e-commerce deliveries in Egypt.
Through this collaboration, PayTabs Egypt’s payment platforms will offer Valu’s innovative financial technology solutions to ShipBlu’s myBlu app, empowering customers to thrive in an increasingly digital economy.
Launched earlier this year, myBlu app now supports a variety of payment methods, making it a comprehensive payment gateway for merchants who do not have their own gateways.
Read more here: https://www.zawya.com/en/business/fintech/valu-joins-shipblu-paytabs-egypt-for-e-commerce-payments-t5195yxt
Visa to Acquire AI Fraud Detection Firm Featurespace
Payment giant Visa is set to acquire Featurespace, a company specialising in artificial intelligence (AI) technology for real-time payments fraud protection.
The acquisition aims to bolster Visa’s fraud detection and risk management capabilities, which are used globally by financial institutions and businesses to safeguard transactions.
Founded in 2008 at Cambridge University, Featurespace has developed AI-driven algorithms that can detect complex fraud patterns in transaction data.
Read more here: https://fintechnews.sg/101773/ai/visa-acquire-featurespace/
NDIC, Others Harp On Banks, Fintech Collaboration Towards Nigeria’s $1trn Economy
September 29, (THEWILL) – For Nigeria to achieve the $1 trillion Gross Domestic Product (GDP) by 2026, the Nigeria Deposit Insurance Corporation (NDIC), among other stakeholders, have emphasised the need for banks and Fintech companies to collaborate and drive the real sector growth.
Delivering a keynote address at the 2024 annual conference of the Finance Correspondents Association of Nigeria (FICAN) in Lagos over the weekend with the theme, “Nigeria’s Journey Towards $1 trillion Economy: Impact of Banks’ Re-capitalisation, Opportunities for Fintechs and Real Sector” the Managing Director/Chief Executive, NDIC, Mr. Bello Hassan stated that the current recapitalization initiative of the Central Bank of Nigeria (CBN) must be effectively implemented. According to him, this is necessary towards enhancing the resilience, solvency and capacity of Nigerian banks to absorb shocks and continue to support economic development of the nation by efficiently performing their function as the fulcrum of financial intermediation.
Read more here: https://thewillnews.com/ndic-others-harp-on-banks-fintech-collaboration-towards-nigerias-1trn-economy/#google_vignette
September 2024: Top five fintech funding rounds of the month
LendInvest has extended its funding agreement with JP Morgan by £500 million, bringing the total value of the separate account it holds with the US bank to £1.5 billion.
The extension has increased the property lender’s funds under management to more than £4.55 billion.
JP Morgan has backed LendInvest since 2021, when it made its first £500 million investment in the firm after purchasing its £125 million mortgage portfolio the year prior.
LendInvest says it will leverage the increased debt financing to develop its mortgages proposition.
Read more here: https://www.fintechfutures.com/2024/09/september-2024-top-five-fintech-funding-rounds-of-the-month/
Malaysia and Indonesia to Bolster Payment Systems, Drive Digitalisation
Bank Negara Malaysia (BNM) and Bank Indonesia (BI) have strengthened their collaboration on digitalisation and payment systems during a high-level meeting in Jakarta.
The two central banks also discussed macroeconomic, monetary, and financial developments, with a focus on modernising financial services through closer cooperation.
This ongoing partnership builds on the successful launch of the cross-border QR payment linkage between the two countries in May 2023.
Read more here: https://fintechnews.my/46296/payments-remittance-malaysia/malaysia-indonesia-payment-digitalisation/
Trinidad and Tobago to roll out India’s UPI payments tech
The Ministry of Digital Transformation of Trinidad and Tobago has signed a deal to deploy a real-time platform for both person-to-person and person-to-merchant transactions, expanding digital payments in the country and fostering financial inclusion.
Launched in 2016, the UPI has been central to India’s efforts to use digital payments to boost financial inclusion and has now handled well over 100 billion transactions.
The NPCI international subsidiary was set up in 2020 to push the UPI, as well as the RuPay card network, outside of India. Already this year, the unit has struck deals with Peru, Namibia and Nepal’s largest payment network, and it has also joined forces with Google Pay to accelerate global expansion.
Read more here: https://www.finextra.com/newsarticle/44804/trinidad-and-tobago-to-roll-out-indias-upi-payments-tech
Clearbank eyes flurry of new products amid ‘huge demand’ for fintech
Clearbank is eyeing up a string of new business lines after hitting profitability and taking its first steps towards international expansion.
The London-based fintech is planning to hire new staff and tap into fresh revenue streams for its next phase of growth, Emma Hagan told City AM in her first interview since becoming Clearbank’s UK chief executive this month.
“We’re still pretty bullish on the growth opportunity for Clearbank, and we always look at different opportunities to diversify and add more clients to the client base to support that continued profitability,” she said.
Read more here: https://www.cityam.com/clearbank-eyes-flurry-of-new-products-amid-huge-demand-for-fintech/
