In today’s top news, Paytm could raise $2.2 billion in its initial public offering (IPO), and Square is working on a new decentralized finance (DeFi) developer platform. Plus, QuickBooks launched a new small and medium-sized business (SMB) card reader for faster payments.
Digital payments firm Paytm is targeting a $2.2 billion IPO in India at a valuation of $25 billion. Backed by Ant Group, Softbank and Berkshire Hathaway, Paytm’s planned IPO will be one of the largest stock market listings in India.
Square is working on a new platform for DeFi that will make it easier to use crypto-related financial services. CEO Jack Dorsey is a long-time fan of bitcoin, and his company has made several moves recently toward increasing crypto use on the app.
QuickBooks has launched a new card reader that allows SMB owners to speed up in-person sales and get paid on the go. Their transactions can be automatically reconciled in QuickBooks, helping SMBs get paid faster.
Transcard has rolled out a way for FinTechs, banks and companies to use different payment rails and types to pay vendors and consumers. Smart Disburse directly links with legacy software, bank application programming interface (API) layers and enterprise resource planning (ERP) software and can be used to send single or mass payments.
Consumers have an overly rosy picture of their credit scores: More than two-thirds think theirs is above average — almost twice those with such scores. In the Credit Score Literacy And Building Credit Report, PYMNTS surveyed 2,053 U.S. consumers to find that this overly hopeful picture locks them out of credit options and they want issuers to step in with tools to help.
In a world of smart tech, traffic lights and intersections are dumb, NoTraffic Founder and CEO Tal Kreisler told Karen Webster. The startup just raised $17.5 million to make lights and intersections smart by using hardware and software to bring “eyes” and a “brain” to city streets so that people and goods — and a variety of connected vehicles — can move across them efficiently and safely.
Another competitor has entered the online gaming race as Netflix appoints an industry veteran to head its nascent gaming business unit. It’s an increasingly tight space where the streaming content giants are all looking at new ways to compete and monetize eyeballs.