U.K. FinTechs received $12.5 billion in investment in 2022, 8% less than the year prior. According to research published by Innovate Finance, an independent industry body representing the UK FinTech community, this week, the drop signals a remarkably resilient FinTech ecosystem when compared to the...
Xoom now lets U.S. customers send money to eligible Visa debit cards in 25 countries. The new service meets consumers’ growing demand for quick, easy ways to send money to friends and family in other countries, Xoom parent company, PayPal said in a Thursday (Jan....
This week in grocery, retailers ramp up personalization efforts as rising prices boost supermarket sales. Michigan-based supermarket chain Meijer, which has nearly 500 stores across the Midwest and Kentucky, on Thursday (Jan. 12) announced the launch of an update to its mPerks loyalty program to...
Thailand has approved virtual banking, while warning against “irresponsible lending.” The country’s central bank on Thursday (Jan. 12) said it expects financial institutions to operate in a sustainable fashion to ensure innovation. “Virtual banks should not initiate a race to the bottom through irresponsible lending,...
FinTech Butter Payments has raised $22 million in Series A funding to fight accidental churn. Accidental churn — in which payments are falsely declined in an effort to stem fraud — is the leading cause of subscription churn. It accounts for $500 billion in lost...
Worldline and Lidio have partnered to help eCommerce merchants access Turkey at a time when local consumers are facing 80% inflation. Together, payments services company Worldline and Turkish FinTech company Lidio will provide a one-stop shop for processing in Turkey, access to popular payment methods and access...
B2B BNPL startup Mondu has added $13 million to its Series A round. The latest top-up brings the total raised in the Berlin-based startup’s Series A to $56 million, according to a tech.eu report. The investment was led by Valar Ventures, with participation from FinTech...
China’s Alibaba Group has reportedly sold half its take in Indian payments firm Paytm. The company sold its 3.1% stake in Paytm for $125 million via a block deal on Thursday (Jan. 12), Reuters reported, citing a source with direct knowledge of the sale. Shares...
German startup DeepL reached a 1 billion euro ($1.085 billion) valuation following its latest funding round. Although the total amount raised has not been disclosed, the billion-euro figure has been widely reported after Techcrunch broke the news on Wednesday (Jan. 11). Since the company was...
