There’s more funding for Berlin’s fintech scene as iZettle and SumUp challenger payleven scoops up USD10m in Series D funding for its mobile payments business. The backing comes from new investor, Paris-based Seventure Partners, plus return investors Munich’s Holtzbrinck Ventures, ru-Net in Riga, B Cinque, New Enterprise Associates and MePay.
It seems the mobile payments space will continue to get busier and more fragmented before it (inevitably) consolidates, with Australian bank ANZ the latest to launch its own contactless payments service. The firm just unveiled its ANZ Mobile Pay app for Android devices, which enables customers to tap their phone to make payments and withdraw cash from contactless-enabled ANZ ATMs. Users can add their existing ANZ Visa and American Express credit and debit cards.
With Valentine's Day getting ever closer, you would think that, as with most last-minute shopping, people would turn to their trust keyboard and make purchases online. Turns out that may not be the case as new research shows shoppers prefer to buy in-store rather than online for the most romantic day of the year.
This week PaymentEye attended Finovate Europe and saw some very exciting companies showcasing their products. We saw some early trends coming out that are set to dominate this year. From financial institutions getting personal, to person finance management getting intelligent, here are the five hottest trends for 2016.
Prepaid cards are only getting more popular among consumers and businesses and American Express is a key player in this space. Stefan Happ, currently serving as EVP and GM of the company’s Global Emerging Payments division, was part of the initial roll out and development of American Express’ prepaid card business as it evolved from pure play gift cards.
The momentum of London’s FinTech ecosystem over the past few years has played a huge role in putting the capital’s tech scene on the global map. But unless its next mayor addresses a number of key hurdles facing companies it will stunt the city’s tech community and make it harder to launch, execute and scale the next TransferWise, Funding Circle or Nutmeg.
iZettle made a name for itself as ‘Europe’s answer to Square’: a mobile payments company that lets micro businesses like cafes and salons accept card from their customers, but CEO and co-founder Jacob de Geer says it doesn’t see itself as just a payments company.
Starting out as a subsidiary of US supermarket giant Safeway, today Blackhawk Network offers prepaid cards across more than 600 brands and in 24 countries. President of Safeway since 2010, Talbott Roche initially joined the business back in 2001 as assistant VP back when it was still a specialty marketing division of Safeway.
The end of 2015 could not have been stronger for the Chinese FinTech scene what with Alibaba consumers spending an astounding $14.3 billion on Singles Day and Apple scrambling to make a mark there. The infographic, made by our sister publication Bobsguide, goes a long way to explain just why China's FinTech scene is so appealing.
FitPay, a wearable payments startup, has managed to secure a $3.1m seed funding round. The interesting thing here is that FitPay isn't a wearable device, but rather it allows companies that make wearable devices to add contactless payment capabilities to their products.