In today’s top news from Europe, the Middle East and Africa (EMEA), Revolut launches a card-reader terminal, UAE-based ResTech startup Supy has raised $8 million and South African mobile payments platform Zapper looks to raise funds.
The Bank of England’s Fiscal Policy Committee says the market capitalization of digital assets has plummeted to about $900 billion from a peak of nearly $3 trillion late last year.
The BOE said the recent volatility in crypto markets isn’t a threat to the overall system for the moment. But unless governments take action, the bank says systemic risks will develop if crypto-asset activity and its ties to banks and other markets keep growing.
South African mobile payments platform Zapper is exploring its capital-raising options, including launching a sale to buy a stake in the startup, in an effort to push its valuation to almost $1 billion.
The Cape Town-based platform hired Ernst & Young as its advisers on a potential deal, Bloomberg reported Tuesday (July 5).
Founded in 2014 Zapper is a mobile payments platform that helps businesses settle payments quickly with mobile point-of-sale technologies. Features include QR code payment and tap-to-phone technology.
Revolut announced the latest of its solutions for businesses today with the launch of a card-reader terminal, the Revolut Reader available to U.K. businesses with a Revolut account.
The new reader will let Revolut’s business customers accept payments in person via card or mobile wallet. The news means Revolut will now be in direct competition with the likes of Paypal’s Zettle, Square, and SumUp in the U.K.s point-of-sale card terminal market.
United Arab Emirates (UAE)-based ResTech startup Supy has raised $8 million in seed funding in a round led by BECO Capital.
Supy provides software for the hospitality sector that helps businesses optimize their ordering and supply-chain processes. The new money will be invested in developing its product and launching new features on the Supy application.
Saudi Arabian Airline flynas announced in a press release Tuesday that it is partnering with Amazon Payment Services to offer a buy now, pay later (BNPL) option to its customers.