Venmo launches instant transfers to bank accounts

PayPal -owned payments app Venmo today announced support for instant transfers to U.S. bank accounts. The feature is an optional alternative to Venmo’s standard bank transfer service, which typically takes one to three business days to process transactions. With Instant Transfer, however, funds from your Venmo account can hit your bank account within minutes. As […]

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Japan’s mobile payments app PayPay reaches 10 million users

Paytm, India’s biggest mobile payments firm, now has 10 million customers in Japan, the company said as it pushes to expand its reach in international markets. Paytm entered Japan last October after forming a joint venture with SoftBank and Yahoo Japan called PayPay. In addition to 10 million users, PayPay is now supported by 1 million […]

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Klarna raises $460 million, looks to expand its payments presence in the U.S.

Swedish payments provider Klarna has announced a new round of equity funding, adding $60 million at a post-money valuation of $5.5 billion, which makes it one of the most highly-valued private fintech companies in the world. The new funding will be used to help Klarna continue to grow its presence in the U.S. payments market, […]

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The Federal Reserve announces plans for a real-time payments system that will be available to all banks

The Federal Reserve Bank announced today that it is developing a new service called FedNow that will allow all banks in the United States to offer 24/7 real-time payment services every day of the week. FedNow is expected to be available by 2023 or 2024 and will initially support transfers of up to $25,000. FedNow […]

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Aspire raises $32.5M to help SMEs secure fast finance in Southeast Asia

Aspire, a Singapore-based startup that helps SMEs secure working capital, has raised $32.5 million in a new financing round to expand its presence in several Southeast Asian markets. The Series A round for the one-and-a-half-year-old startup was funded by MassMutual Ventures Southeast Asia. Arc Labs and existing investors Y Combinator — Aspire graduated from YC […]

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Truecaller pushes software fix after covertly signing up Indians to its payments service

Truecaller, an app that helps users screen robocalls, has rolled out an update to its app in India, its largest market, after a previous software release covertly signed up an unspecified number of users to its payments service. A number of users in India began to complain late Monday that Truecaller, which has amassed over […]

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Why this Nigerian fintech startup is volunteering audited financials

Nigerian fintech firm Carbon — an early stage financial services startup based in Lagos — has posted financials audited by KPMG on its website. This comes four months after the company obtained a credit rating as a pre-IPO venture. Carbon — which recently rebranded its OneFi holding company and PayLater product titles into one name  […]

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Flutterwave and Alipay partner on payments between Africa and China

San Francisco and Lagos based fintech startup Flutterwave has partnered with Chinese e-commerce company Alibaba to offer digital payments between Alipay and African merchants. Flutterwave is a Nigerian founded B2B payments service (primarily) for companies in Africa to pay other companies on the continent and abroad. Alipay is Alibaba’s digital wallet and payments platform. In […]

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Drip Capital raises $25M to help exporters access working capital

Drip Capital, a startup that helps small and medium-sized exporters secure working capital, has raised $25 million to expand its reach globally. The Series B financing round for the two-and-a-half-year-old startup was led by Accel and Boosts Total Venture. In an interview with TechCrunch, Neil Kothari, co-founder and co-CEO of the startup, said Drip Capital […]

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Fintech firm Zeta’s valuation climbs to $300M in its first external funding round

Startups looking to expand the reach of financial services continue to receive a nod from investors. Zeta, a fintech firm that runs a full stack neo-banking platform and offers enterprise payments solutions, said today its valuation reached $300 million in its maiden outside funding. Sodexo BRS funded Zeta’s Series C round to take a minority […]

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