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    Investment

    News about Investment.

    R3 investment details take shape

    November 24th, 2016

    Blockchain consortium R3 has reduced the amount it aims to raise from bank members in its first large round of equity funding to US$150m from US$200m, Reuters reports. More than 90% of its original 42 bank members have expressed an interest in investing, but Goldman Sachs and Banco Santander, both original participants, are not renewing their memberships, it adds. Morgan Stanley and National Australia Bank meanwhile are also not participating.

    Citi launches global API Developer Hub

    November 11th, 2016

    Citi has launched a global API Developer Hub to give developers access to APIs across eight usage categories including account management, peer-to-peer payments, money transfer to institutions, Citi rewards, investment purchases and account authorisation. “The release of Citi APIs marks the evolution of Citi’s technology to open architecture, which will facilitate collaboration and partnerships with fintech companies and consumer brands to benefit customers,” Citi says. Additional categories will be added over time.

    Brain biometrics study gets $900,000 grant

    November 9th, 2016

    Binghamton University in the US has been awarded US$900,000 to continue investigations into the next-generation of brain biometric technology. The four-year project, ‘Brain Hacking: Assessing psychological and computational vulnerabilities in brain-based biometrics’, will examine the strengths of weaknesses for cyberspace security of identifying a person by measuring their brainprint – the brain’s response to different stimuli.

    Ant Financial invests in Ascend Money

    November 4th, 2016

    Alipay parent company Ant Financial is investing an undisclosed sum into Thai online payment provider Ascend Money. “Together with Ant Financial, Ascend Money will grow its online and offline payment and financial services ecosystem and strengthen its trusted and convenient payment services for users and merchants,” Ant Financial says. Reports that Ant Financial was seeking to buy a 20% in Ascend Money emerged in June 2016. The company made a similar investment in Indian mobile payment platform Paytm in September 2015.

    Blockchain NFC start-up focuses on expansion after $10m funding

    October 28th, 2016

    Canadian payments start-up NanoPay has completed a US$10m Series A funding round. The company recently bought the MintChip platform, which uses NFC technology to enable purchases with a Bitcoin alternative, from Royal Canadian Mint. Alongside the new finance, NanoPay CEO Laurence Cooke says its focus is “now on expanding the platform beyond digital cash to a broad range of B2B use cases that have global applications”.

    Australian banks seek stronger negotiating powers with third party mobile wallet providers

    July 27th, 2016

    A group of Australian banks have submitted an application to the Australian Competition and Consumer Commission (ACCC), urging for the right to ensure they are able to “collectively negotiate” with third party mobile wallet providers.  More

    Alipay negotiating for stake in Wirecard

    June 27th, 2016

    Alipay is in negotiations to take a 25% stake in German payments technology provider Wirecard, according to German newspaper Bild. “At the talks, it comes to a share of up to 25%,” the publication reports. “Later, it could well be more.” Wirecard began rolling out support for Alipay mobile payments across Europe in December 2015 and worked with Alipay to add support for the service across Munich Airport earlier this month.

    Alipay parent company seeks expansion overseas

    June 20th, 2016

    Alipay parent company Ant Financial is seeking to buy a 20% stake in Thai online payment provider Ascend Money and to increase its stake to 30% at a later date. “Ascend’s subsidiaries include True Money, an online payment service provider, and Ascend Nano, a licensed financial services provider,” Reuters reports. “Ant Financial, whose Alipay payment platform dominates the online payments industry in China, is looking to expand its presence overseas.”

    Emirates NBD to launch digital bank for millennials

    June 6th, 2016

    Emirates NBD has announced plans to launch the UAE’s first digital bank targeted at millennials as part of its commitment to invest AED 500m (US$136m) in “digital innovation and multichannel transformation” over the next three years. The digital bank will offer customers “the next generation of self-service money management with useful tools and applications,” the bank says.

    IoT security spending to reach $348m this year

    April 26th, 2016

    Worldwide spending on Internet of Things (IoT) security will reach US$348m in 2016, a 23.7% increase from 2015 spending of $281.5m, Gartner predicts. “Spending on IoT security is expected to reach $547m in 2018,” the firm says. “Gartner predicts that IoT security market spending will increase at a faster rate after 2020.”

    Study examines attitudes to contactless payments in the UK, Germany and Spain

    March 11th, 2016

    More than 90% of British, German and Spanish business leaders interviewed for a survey of attitudes to contactless technology have already invested in contactless projects and expect that 10% of all transactions will be contactless within the next three years, a white paper now available to download from the NFC World+ Knowledge Centre reveals. More

    Ant Financial seeks US$3bn in funding

    March 8th, 2016

    Alipay parent Ant Financial is planning to raise up to 20bn yuan (US$3.1bn) in its current funding round at a valuation of more than $50bn, according to The Wall Street Journal. “The fresh funding will give the operator of popular Chinese online payments platform Alipay more financial muscle as it buys stakes in businesses ranging from a Chinese lottery company to China’s Postal Savings Bank,” the publication says. “It also sets the stage for Ant Financial’s future initial public offering — bankers expect it as early as 2017.”

    Samsung Pay records net loss of US$16.8m in 2015

    March 8th, 2016

    Samsung Pay has recorded a net loss of US$16.8m since the mobile payment service was unveiled in March 2015, despite attracting approximately five million users in South Korea and the US in its first six months…. More

    PowaTag sold to investors

    March 7th, 2016

    Mobile payments platform PowaTag has been sold to a consortium led by entrepreneur Ben White, administrator Deloitte has confirmed, following news that its parent company Powa Technologies went into administration last month. The company’s ecommerce platform PowaWeb has also been sold to UK-based digital business group Greenlight Digital. The Financial Times reports that the sales were for “undisclosed amounts” and questions the “typically used” valuation of Powa Technologies at US$2.7bn.

    Powa goes into administration

    February 22nd, 2016

    The company behind the PowaTag mobile payments platform has gone into administration, the Financial Times reports. Powa Technologies CEO Dan Wagner “sent an email to staff on Friday telling them that Wellington Management, its largest investor, had called in loans that it had made to the company and forced it into administration,” the publication says. The news follows reports late last week that the company had failed to pay its staff and suppliers.

    Visa claims 10% stake in Square trading shares

    February 15th, 2016

    Visa has revealed it has a 9.99% stake of Class A shares in mobile POS provider Square. The payment network holds more than 4m of Square’s Class B shares which don’t trade publicly but can be converted to approximately 3.52m in Class A shares, according to an SEC filing. Square filed for an initial public offering in October 2015 and began shipping its NFC device in December.

    Payleven raises $10m for mPOS growth

    February 11th, 2016

    European mobile point of sale specialist Payleven has closed a US$10m Series D funding round, bringing the total raised to date to $51m. “The newly secured investment provides Payleven with additional growth capital,” the company says. Payleven introduced a chip and PIN reader that supports NFC in 2014.

    FitPay closes $3.1m round led by G&D

    February 5th, 2016

    Wearable payments provider FitPay has closed a US$3.1m seed funding round led by Giesecke & Devrient (G&D). “FitPay’s payment platform uses NFC technology combined with card network tokenization to interact with POS terminals at retail locations,” the company says. “FitPay’s Trusted Payment Manager platform allows contactless payment capabilities on a wide range of wearable devices.” FitPay developed a smartstrap to enable NFC payments on Pebble Time smartwatches in November 2015.

    Russian mobile payments startup raises US$3.8m

    February 3rd, 2016

    Russian mobile payments startup PayQR has received an investment of 300m rubles (US$3.8m) from businessman Sergey Kozlovsky. “PayQR allows you to pay without a credit card and cash with the help of the so-called QR code,” Vedomosti reports. “In 2016, PayQR will also work via NFC.” The company raised US$1.5m from an unknown investor in 2014.

    Study reveals global views on payment data security

    January 27th, 2016

    A 16-page study that presents findings from research into how companies approach payment data security is now available to download from the NFC World Knowledge Centre. The study also reveals why IT professionals believe the risk… More

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