Samsung Pay adds funds trading service in Korea

Samsung Pay begins funds trading service — Yonhap News — “Fund Online Korea Co said Tuesday it launched services for the trading of investment funds via Samsung Pay, the country’s top mobile payment tool. The service allowed users to shop for a variety of funds at the Samsung Pay platform after a simple process of opening accounts, according to the firm. ‘We are aiming at offering an easy, convenient and accessible investment channel,’ said company official Kim Seung-hyun.”


Berkshire Hathaway invests in Indian mobile payments provider Paytm

Berkshire Hathaway confirms investment in Paytm parent One97 Communications — Economic Times — “Berkshire Hathaway has confirmed that it has made an investment in Paytm parent One97 Communications… ET had reported that Berkshire Hathaway is in talks to invest about Rs2,000-2,500 crore (US$285m-US$356m) in One97 Communications, that could value the company at $10bn. One97 Communications already counts China’s Alibaba Group Holdings and Japan’s Softbank among its major investors.”


PayPal ‘ready to spend $3bn a year on acquisitions’

PayPal to spend $3 billion a year on M&A — Reuters — “PayPal Holdings Inc is on the lookout for further acquisitions following its recent takeover of iZettle, the Swedish fintech startup, for $2.2bn… ‘We have a healthy balance sheet and we are ready to put it to work to buy more companies,’ president and CEO Dan Schulman told Germany’s Handelsblatt… Paypal is ready to invest up to $3bn a year on acquisitions that enable it to acquire specific capabilities, Schulman added.”



Ant Financial targets South America and Africa for next phase of mobile payments growth

Ant Financial sees huge growth for cashless payments in South America, Africa — South China Morning Post — “Kenny Man, head of international investment for Ant Financial, said over the next five years, emerging markets including those in South America and Africa will be priority for the company’s global partnerships… ‘China has leapfrogged over traditional credit cards to the mobile wallet. That same change will be even more radical and faster in different parts of the world, whereby people will embrace mobile payments,’ Man said.”


Indian mobile payments firms raised US$1.5bn in funding in 2017

Investors shift focus to mobile payments, last mile payment firms — Business Standard — “Mobile payments alone gathered close to $1.51 billion in the year 2017 through 13 rounds of funding, according to data compiled by Tracxn. Investors say that the money is going beyond wallet businesses now into last mile solutions because the payment systems are maturing and the industry is leaping into the next stage where collaborations happen and solutions are end-to-end.”



Ant Financial raises $10bn at a $150bn valuation

China’s Ant Financial raises $10 billion at $150 billion valuation: sources — Reuters — “Ant Financial Services Group, operator of China’s biggest online payment platform by market share, Alipay, has closed its latest funding round having raised US$10bn from a clutch of global and local investors, five people with direct knowledge of the matter told Reuters. Ant’s first fundraising targeting global money values the firm at US$150bn, the people said, compared with about US$60bn after its previous fundraising in April 2016.”


Ant Financial seeks US$9bn in new funding

Jack Ma’s Ant Financial to raise $9bn, become world’s biggest unicorn — Wall Street Journal — “Chinese billionaire Jack Ma’s financial technology business is about to vault into the ranks of the world’s most valuable companies. Ant Financial Services Group, carved out of his e-commerce giant Alibaba Group Holding Ltd seven years ago, is preparing to raise US$9bn in a private funding round, according to people familiar with the matter. That ups a previous fundraising target of US$5bn.”


Alipay parent Ant Financial to go public at a $100bn valuation?

China’s Ant plans equity fundraising at potential $100 billion valuation — Reuters — “China’s Ant Financial Services Group is planning to raise up to US$5bn (£3.59bn) in fresh equity that could value the online payments giant at more than US$100bn… A fundraising would bring Ant, in which e-commerce firm Alibaba Group Holding Ltd is taking a one-third stake, a step closer to a hotly anticipated initial public offering.”



Sberbank to build ID platform that supports face, voice and retina biometrics

Sberbank and VisionLabs to build biometric identification platform — Sberbank — “Sberbank announces the signing of a deal to acquire a block of shares in VisionLabs, a global leader of the facial recognition market… The investment in VisionLabs is a major first step by Sberbank to build a biometrics platform of Sberbank’s ecosystem, involving face, voice and retina identification, as well as other biometric factors… This will allow the creation of a unique biometric identifier that will let Sberbank clients access any service.”


Thinfilm raises US$110m to support growth in NFC market

Thinfilm raises $110 million as NFC solutions traction increases among leading consumer brands — Thinfilm — “The substantial funding secured in this private placement is a testament to both the opportunity that exists in the NFC solutions space and Thinfilm’s ability — as a market leader — to address the increasing demand among consumer brands of all sizes,” said Davor Sutija, CEO of Thinfilm. “With sufficient financing to get us to cash break-even, we are now keenly focused on bringing affordable intelligence to billions of everyday items.”



Retailers ready to pay more for payments services that add value

Majority of EMEA retailers plan to increase investment in payments — ACI Worldwide — “55% of retailers and merchants in the EMEA region are planning to increase their investment into new payment capabilities in the next 18 to 24 months… 66% say they are willing to pay more for a broader range of payment services if they add value to their business. 89% say they would expect increased operational efficiency and 88% enhanced customer experience from their investment.”


USA Technologies files for proposed public offering

USA Technologies files for proposed public offering — PARTNER NEWS — “USA Technologies Inc (USAT), a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, today filed a registration statement on Form S-1 with the US Securities and Exchange Commission for a proposed underwritten public offering of its common stock consisting of approximately $34.5 million of shares to be sold by USAT.”





UK sees 250% rise in NFC mobile payments in stores

Worldpay

The number of mobile transactions as a percentage of all in-store transactions has grown by 247% in the UK over the last year, analysis of transaction data and a consumer survey conducted by payments processor Worldpay has found. Workers paying for lunch on the go and payments for drinks in bars are the main drivers of the increase in transaction volume. More


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