New policy puts revenue squeeze on China’s payments giants

The era that saw China’s mobile payments providers making handsome interest returns on client money has officially ended. Starting this week, non-bank payments companies must place 100 percent of their customer deposit funds under centralized, interest-free accounts as Beijing moves to rein in financial risks. In the past, third-party payments firms were allowed to hold […]

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Twilio makes it easier to take payments over the phone

Making a payment over the phone, maybe because you are trying to change an airline ticket or to pay a last-minute bill, still feels like an antiquated process. You read your credit card number to an agent, then your expiration date and your security code. In the process, some number will inevitably get mixed up […]

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Chargify launches a new payment management tool for subscription services

Chargify, the payment management service owned by Scaleworks, has launched a new tool for billing management.  The new product is designed to remove limitations and allow payers to assign or reassign payment responsibility for subscriptions or groups of subscriptions, according to the company. Called WhoPays, the new service is pitched to businesses as a way […]

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South Africa’s Yoco raises $16 million to boost digital services to small businesses

Jake Bright Contributor Jake Bright is a writer and author in New York City. He is co-author of The Next Africa. More posts by this contributor African tech leaders Fope Adelowo, Ken Njoroge, Tayo Oviosu to speak at Disrupt SF Offering a white-labeled lending service in emerging markets, Mines raises $13 million South African startup Yoco has […]

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Venmo fare-splitting is coming to the Uber app

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There’s finally a way to split the check for rides and food in the Uber app — all without paying that extra fee.

On Thursday, the San Francisco-based ride-sharing company announced a partnership with Venmo that integrates the popular payment system into the Uber app. This arrangement sidesteps the current in-app split-ride fee.

“With so many of our riders and eaters already turning to Venmo as a way to pay a friend back for that last ride or meal, we’re proud to have built a seamless, easy-to-use connection between our apps,” Marco Mahrus, Uber’s head of payment partnerships, said in a statement. Read more…

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Toss, Korea’s top payment app, raises $40M from Sequoia China and Singapore’s GIC

The largest payment app in South Korea, Toss, has pulled in $40 million in fresh investment from Singapore sovereign wealth fund GIC and Sequoia China. The deal for Viva Republica, Toss’s parent company, comes just over a year after it raised $48 million from payment giant PayPal and others. There’s no valuation for this newest round, […]

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CardUp raises $1.7M to help small businesses get more out of their credit cards

CardUp, a Singapore-based startup that enables users to make large, recurring payments by credit card even to recipients that don’t accept cards, has raised $2.2 million SGD (about $1.7 million) led by Sequoia India and SeedPlus. This is CardUp’s first institutional investment round and will be used to expand its business serving small- to medium-sized […]

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