Today in the connected economy, Revolut launches its card reader, marking the start of its in-person payment ambitions. Plus, Uber brings its services to Israel, while Funding Circle and DreamSpring join forces to offer funding to underserved small- to medium-sized businesses (SMBs).
Revolut has debuted Revolut Reader, a pocket-sized card reader that lets merchants accept payments in person and on the go. Rolling out in the United Kingdom, Revolut Reader offers instant and secure transactions for debit and credit cards, as well as contactless payment methods.
In a continuation of its worldwide expansion, Uber Technologies is launching in Israel, joining its ride-hailing platform with a nationwide taxi network. Thousands of independent and company-tied taxi drivers have reportedly joined Uber’s Israeli operation, with the service also featuring ridesharing, chiefly for passengers in Israel’s two largest cities, Jerusalem and Tel Aviv.
SMB loan platform Funding Circle is collaborating with DreamSpring, a nonprofit community development financial institution (CDFI), to boost funding access for SMBs working in underserved communities. DreamSpring SMB customers who apply through the two companies’ portal will get one-on-one support from a Funding Circle account manager, approval within hours, and access to money in as few as 48 hours.
Payments platform Wirex has launched Wirex Credit for loans backed by cryptocurrency that lets users borrow up to $100,000 in stablecoins. The product offers users access to credit in any market condition and is linked to the company’s app. Wirex is the first company around the world to develop a crypto-enabled card, with credit that can be spent anywhere that accepts Visa or Mastercard.