Thursday, July 29

Payments News

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French alt lender Younited Credit raises $170 million to double down on embedded finance

Doubling down on its embedded finance solution puts Younited Credit in competition with the likes of Klarna and Afterpay. But the booming ecommerce market in France could also present a lucrative growth opportunity. The news: The French fintech, which offers credit products to European consumers, secured a $170 million round led by Goldman Sachs, per TechCrunch. It will use the funding to move deeper into European markets and grow its workforce. ...
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Google plans foray into Japanese cashless payments with pring acquisition

Google is in negotiations to buy cashless payments startup pring. Google is reportedly in negotiations to acquire pring, a Japan-based cashless payments startup, for between JPY20 billion ($187.3 million) and JPY30 billion ($281 million), according to Nikkei Asia. Proximity mobile payment users will reach 27 million this y...
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Visa’s crypto payment growth points to investment paying off

Visa's crypto volume is exploding. The network's $1 billion crypto-related spend total in H1 2021 points to an effective growth strategy. CFO Vasant Prabhu told CNBC that consumers spent more than $1 billion on goods and services using its cryptocurrency-linked cards in the first half of 2021. Volume in 2019 and 2020 was only a fraction of that six-month total. Visa counts three major crypto-based card partners— BlockFi, Circle, and Coinbase—and cardholders can use the cards at more than 70 million merchants globally. ...
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How Venmo’s new fees can bring it closer to profitability

Summary List PlacementNext month, PayPal-owned Venmo will introduce new fees and updates to its platform that'll give users more control over their accounts and add an extra layer of protection for some transactions, per Android Police. Venmo users will reach 77.8 million this year.Insider Intelligence Privacy and security updates: Users can now change the visibility of their friends list to public, private, or friends. They can also opt out of being seen on other users' friends lists. And effective July 20, Venmo will expand eligibility for the Purchase Protection Program for transactions sent to business accounts and all payments marked for goods and services by the sender. Fee changes: Also on July 20, users who receive payments for goods and services will be charg...
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Afterpay sets sights on US expansion with app-based BNPL solution

This fall, US consumers will be able to use Afterpay's app to shop at popular retailers even if those stores don't have a partnership with the BNPL provider. Starting this fall, buy now, pay later (BNPL) provider Afterpay will let US customers make purchases at 13 popular retailers—including Target, Nike, and Sephora—that the firm isn't partnered with, per PYMNTS. Customers will be able to use Afterpay's app to shop at these retailers. This comes shortly after Afterpay announced plans to open its North American headquarters in San Francisco. ...