Prudential Bank affirms commitment to cross border payments through PAPSS, first transaction to Kenya completed
Prudential Bank Limited has reaffirmed its commitment to enhancing and supporting cross-border trade, payments and settlements on the African continent through its landmark successful transaction with KCB Bank in Kenya through the Pan African Payment and Settlement Systems (PAPSS).
The transaction is the first to be conducted by the Bank beyond West Africa on the PAPSS platform, which was set up and launched in Accra, Ghana, in January 2022 to promote trade within Africa and boost the African Continental Free Trade Agreement (AfCFTA).
Managing Director of the Bank, Bernard Gyebi, commenting on the feat, said the achievement is yet another testament to the Bank’s drive to promote trade on the continent, working in partnership with PAPSS.
How SA’s Loop is enabling safe mobility and payments for emerging markets
South African startup Loop claims it is digitising mobility and payments for emerging markets by offering an integrated platform that enables safe, shared rides and digital payments.
Founded in 2021 by Imtiyaaz Riley and Jamie Wyngaard, Loop allows users, whether commuters or companies, to book safe and reliable transport via WhatsApp, using solutions like Chat-to-Pay and Tap-to-Pay, tailored for informal economies and cash-reliant communities.
The startup’s automation manages route planning, trip grouping, and driver assignment. Businesses use Loop’s dashboard to coordinate employee transport, while drivers receive trips, routes, and payments seamlessly.
Q LINK expands its Fintech leadership through the Nutun Transact acquisition
Q LINK, a fintech and financial service provider has recently acquired leading payments platform Nutun Transact.
The integration of the two companies under the Q LINK brand marks a pivotal moment in the financial services industry, combining advanced B2B transactional capabilities with industry-leading payment and authentication solutions.
Q LINK CEO Ian Thompson said he is excited about the integration and the journey that lies ahead.
Absa, Union Pay International Launch Contactless Payments in south Africa
Absa, in partnership with UnionPay International (UPI), is launching contactless payments to UnionPay cardholders across South Africa. The collaboration ensures that customers with UnionPay cards have checkout access at thousands of retail stores nationwide.
With digital payments becoming increasingly popular, shoppers expect quick and hassle-free ways to pay. By enabling contactless technology, Absa ensures that customers can simply tap and go. The functionality eliminates the need for cash or a PIN entry for qualifying transactions.
Payoneer acquires China’s Easylink Payment to expand global footprint
Payments platform Payoneer has completed its acquisition of China-based payment service provider Easylink Payment, further expanding its global presence.
While the financial terms of the deal remain undisclosed, the acquisition makes Payoneer the third foreign payment platform licensed to offer online payment services in China.
Payoneer CEO John Caplan says the deal “strengthens our global regulatory infrastructure and positions us to better serve those customers with enhanced and localised products and services”.
British FinTech startup BKN301 Group raises €21 million BaaS platform
London-based BKN301 Group, a global FinTech specialising in Banking-as-a-Service (BaaS), has successfully closed a €21.5 million Series B round to support their international growth through organic development and strategic acquisitions, as well as enhancing the firm’s proprietary BaaS Orchestrator platform.
Investors included: CDP Venture Capital SGR (through the Digital Transition Fund), Azimut Libera Impresa SGR through the Azimut Digitech Fund under the advisory of FNDX, SIMEST (through the F.394/81 managed on behalf of the Ministry of Foreign Affairs and International Cooperation), Alisei Forinvestments di Aldo Fumagalli and other investors.
These are in addition to the investors of the previous rounds, including SM Capital, Prosus Group, CRIF, Abalone Group, Federico Ghizzoni and Fabio Nalucci.
UK fintech BKN301 with Italian roots closes £18.6M round to create “a world without financial barriers”
Traditional banks and fintech companies often struggle to incorporate financial features into their offerings due to legacy systems and fragmented infrastructure. BKN301 solves this through a unified API gateway that connects core banking systems, payment processors, and third-party services, enabling seamless integration without disrupting existing operations.
BKN301 Group, a global fintech specialising in Banking as a Service (BaaS), has secured £18.6 million in a capital increase to support its new growth phase. The Series B round attracted existing and new institutional, industrial, and private investors. New investors include CDP Venture Capital SGR, Azimut Libera Impresa SGR, SIMEST, and Alisei Forinvestments di Aldo Fumagalli. These join previous investors SM Capital, Prosus Group, CRIF, Abalone Group, Federico Ghizzoni, and Fabio Nalucci. This brings the company’s total funding to approximately $47.3M.
