China’s biggest chat app WeChat is set to make its payments service more ubiquitous in Japan, a popular outbound desitnation for Chinese tourists. On Tuesday, the Tencent-run messenger unveils a partnership with Japan’s Line chat app on mobile payments. The tie-up allows Japanese brick-and-mortar merchants with a Line Pay terminal to process WeChat Pay transactions […]
View More WeChat e-wallet teams up with Line to target Japan’s 7M Chinese touristsCategory: Payments
Cross-border fintech startup Instarem raises $20M for global expansion
Instarem, a Singapore-based startup that helps banks transfer money overseas cheaply, has raised a Series C round of over $20 million for global expansion. The round is led by MDI Ventures — the VC arm of Indonesian telecom operator Telkom — and Beacon — the fund belonging to Thai bank Kasikorn — as well as […]
View More Cross-border fintech startup Instarem raises $20M for global expansionTencent e-wallet is following Alibaba to Hong Kong subways
China’s payments giants have taken their battle to Hong Kong. Less than a week after Ant Financial announced adding QR codes to the city’s MTR public transport network of rail, Tencent’s WeChat Pay unveiled a similar scheme on Wednesday. Starting mid-2021, commuters in Hong Kong can scan a barcode to enter the subway turnstile through […]
View More Tencent e-wallet is following Alibaba to Hong Kong subwaysStandard Cognition raises $40M to replace retailers’ cashiers with cameras
The Amazon Go store requires hundreds of cameras to detect who’s picking up what items. Standard Cognition needs just 27 to go after the $27 trillion market of equipping regular shops with autonomous retail technology. Walk into one of its partners’ stores and overhead cameras identify you by shape and movement, not facial recognition. Open […]
View More Standard Cognition raises $40M to replace retailers’ cashiers with cameras11/11 shows biometrics are the norm for payments in China
Chinese consumers were quick to adopt digital payments, and a recent shopping binge showed they are ready for another leap: biometric payments. On November 11, Alibaba wrapped up Singles’ Day – the world’s largest shopping event – and hauled in $30.8 billion in total transactions, a staggering amount bigger than Cyber Monday and Black Friday combined. […]
View More 11/11 shows biometrics are the norm for payments in ChinaPayPal shuts down accounts for Proud Boys and founder McInnes as well as antifa groups
PayPal has shut down several accounts, including those for far-right group the Proud Boys and their founder, Gavin McInnes, for the promotion of “hate, violence, or other forms of intolerance.” Several anti-fascist groups were also banned as part of the same wave of policy enforcement.
View More PayPal shuts down accounts for Proud Boys and founder McInnes as well as antifa groupsDespite a strong Q3 earnings report, Square’s Q4 forecast disappoints investors
Despite a strong third-quarter earnings report, Square’s forecast for the final quarter of this year gave investors pause, sending its share price down 6 percent in after hours trading before it gradually climbed up again. Square’s adjusted revenue grew 68 percent year-over-year to $431 million, beating expectations from analysts polled by Refinitiv (formerly the financial […]
View More Despite a strong Q3 earnings report, Square’s Q4 forecast disappoints investors7-Eleven is bringing cashier-less payments to its stores
7-Eleven is piloting a new mobile check-out process called Scan & Pay.
View More 7-Eleven is bringing cashier-less payments to its storesHong Kong’s Neat raises $3M to offer easy banking for startups and SMEs
Neat, a Hong Kong-based startup that gives startups and SMEs access to credit cards and banking services has pulled in $3 million in fresh funding. The new round is led by China-based VC Linear Capital with participation from Hong Kong’s Sagamore investments and existing backers Dymon Asia Ventures and Portag3 Ventures . Neat previously landed a $2 million […]
View More Hong Kong’s Neat raises $3M to offer easy banking for startups and SMEsPayPal and American Express expand partnership, will allow use of points for PayPal purchases
PayPal this week announced an expanded relationship with American Express that will allow cardholders to use their Membership Rewards points when shopping from PayPal merchants, as well as more integrated experience within both PayPal and the Amex apps, among other things. The deal is similar to those PayPal earlier struck with Visa and MasterCard., and follows a series […]
View More PayPal and American Express expand partnership, will allow use of points for PayPal purchasesSquare unveils the Square Terminal, designed to replace old keypad credit card machines
Square is launching a new piece of hardware today — the Square Terminal. As explained to me by the company’s Head of Hardware Jesse Dorogusker, the Terminal fills a gap the company’s product lineup — unlike the basic card reader, it provides an all-in-one hardware experience (no phone or tablet required), but more affordable than the […]
View More Square unveils the Square Terminal, designed to replace old keypad credit card machinesCVS Pharmacy is finally accepting Apple Pay
The checkout line at CVS is about to move a lot more quickly.
The popular drugstore announced Thursday it’s now accepting Apple Pay at all U.S. locations. The payment system will work at both the pharmacy and regular checkout lines.
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