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The information you need to start the day, from PaymentsSource and across the web:
Come out
To assert formally submitted an initial public offering to the SEC, demonstrating the growing popularity of credit card alternatives.
Affirm the IPO, which could estimate the company as high as $ 10 billion, has been rumored for months, following an expansion that includes a partnership with Shopify this allows Affirm to access more merchants – its current network totals approximately 6,000. Affirm in September raised $ 500 million by a group of investors including Lightspeed Ventures and Wellington Capital Company.
Other companies offering point of sale credit, or installment payments – such as Klarna and Splitit – have also grown rapidly in 2020 as consumers try to avoid revolving credit during the economic slowdown that accompanied the coronavirus pandemic.
Bloomberg News
Constitutive element
PayPal Ventures invested around $ 11 million in digital payments startup Modulr, which recently cleared several hurdles to building its UK network.
Modulr uses open banking binaries to support digital payments for gig workers and transactions involving fintechs. In recent months, it has gained access to Faster Payments and Bacs, two UK schemes that enable near real-time processing and digital clearing. Modulr has also obtained a digital money license in Ireland and has signed partnerships with Visa and Mastercard.
PayPal Ventures’ investment follows a $ 23 million round from Highland Europe in May and brings Modulr’s total to around $ 70 million.
Still not sold
As you stop to call bitcoin a “fraud“As he did three years ago, JPMorgan CEO Chase Jamie Dimon is still an opponent, but he softened, saying that bitcoin is not his” cup of tea. “
Dimon said the potential exists for blockchain technology to enable the movement of global money, he reports Coindesk, who quoted Dimon speaking at the New York Times book conference. But Dimon said heavy government regulation on bitcoin is likely on the way and admitted that “smart people” are buying bitcoin.
JPMorgan Chase in October it renamed its blockchain unit, naming it Liink. It has also reorganized its blockchain projects as a potential way to promote the use of JPM Coin, the bank’s digital currency.
ABC of P2P
Zelle is working with online education company EverFi to bring digital financial literacy classes to US high schools.
According to a press release, the bank-run P2P app run by Early Warning Services will offer the free course in 650 schools on personal finance concepts, digital banking basics, identity theft, and tips for fraud protection and P2P transaction management.
Zelle said banks and credit unions could co-sponsor the program, which runs until 2021.
Cabin code
HIPS Payment Group has reached an agreement to distribute contactless payments for dozens of taxi companies in Scandinavia.
Taxis will use QR code payments, which HIPS is positioning as a way to increase overall contactless payments as more consumers try to avoid handing over cash or physical contact with a payment terminal.
HIPS considers QR codes a simpler deployment for contactless taxi payments as it requires a sticker that sticks to the car, rather than a complete replacement of a payment terminal or NFC reader.
From the web
The former head of Wirecard Braun will be questioned by German lawmakers
REUTERS | Thursday 19 November 2020
BERLIN (Reuters) – Former Wirecard boss Markus Braun is expected to appear before a German parliamentary committee on Thursday, temporarily leaving prison to testify about the collapse of what was once considered Germany’s leading financial technology company.
African fintech startup Chipper Cash raises $ 30 million with support from Jeff Bezos
TECHCRUNCH | Thursday 19 November 2020
African cross-border fintech startup Chipper Cash raised a $ 30 million Series B funding round led by Ribbit Capital with the participation of Bezos Expeditions, the personal VC fund of Amazon CEO Jeff Bezos.
The largest cryptocurrency investment manager exceeds $ 10 billion in assets
REUTERS | Wednesday 19 November 2020
The largest digital currency asset manager in the world, Grayscale, said Wednesday that its assets under management rose to a record $ 10.4 billion, supported by the continued increase in investment inflows and the surge in the price of bitcoin. .
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Working from home adds another level of ACH credit risk
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Digital Deluxe: How a paper check company finds new markets
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Amex finds new roles for its supply chain finance tools
Two years after the launch of Early Pay to accelerate B2B payments via discounts, American Express has added other businesses surrounding transactions.
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