The National Payments Corp. of India is testing a solution to allow Unified Payments Interface (UPI) based digital pay without an internet connection, Mint reported Sunday (Jan. 23). The solution, called UPI Lite, will likely be used initially in rural areas to allow for small...
Telecom firm Singapore Telecommunications (Singtel) and ride hailing and payments firm Grab Holdings Ltd. each bought 16.3% of Indonesia’s PT Bank Fama International to expand their offering into that nation, according to a Reuters report Friday (Jan. 21). Indonesian conglomerate Elang Mahkota Teknologi Tbk (Emtek), which...
The European Payments Council (EPC), a nonprofit organization representing payment service providers (PSPs) that promotes the development of the Single Euro Payments Area (SEPA), has launched a consultation to expand the scope of SEPA payments beyond the Euro area. The Single Euro Payments Area (SEPA)...
In today’s top Europe, Middle East and Africa (EMEA) news, Zilch faces heat for encouraging U.K. consumers to use buy now, pay later (BNPL) to buy pizzas, and the European Union’s competition commissioner wants the metaverse to face more scrutiny. Plus, Ibercaja Banco is on...
In today’s top Europe, Middle East and Africa news, Aldi is piloting its first cashierless supermarket in London, and InsurTech Zego plans its European expansion. Plus, Berlin FinTech Moss inches closer to unicorn status with $573 million valuation, Amazon’s ban on Visa cards in the...
ElasticRun, a kirana commerce platform helping businesses connect with rural India, is expecting to raise $300 million in a funding round led by SoftBank, according to a report Wednesday (Jan. 19) from The Times of India. Three sources told the news outlet that SoftBank is...
Zego, the U.K.-based commercial motor vehicle insurance company, is planning a European expansion, the company announced Wednesday (Jan. 19), according to a UKTechNews report. The InsurTech company, which offers safe drivers as much as 20% off on premiums, has launched in the Netherlands and is...
Recent data from Pitchbook has revealed that Europe saw new annual records set in terms of private equity (PE) deal count and value in 2021, with close to 7,200 deals closed worth 754.5 billion euros ($856 billion). Those figures were significantly higher than the previous...
The U.K.’s Financial Conduct Authority (FCA) has announced that European firms looking to remain in the temporary permissions regime (TPR) must meet the FCA’s standards to continue operating their businesses in the U.K. As part of the U.K.’s efforts to minimize the impact of Brexit...
