back Back

The Monday Roundup: what we are watching this week | April 15th

By Puja Sharma

April 15, 2024

  • Commercial Banks
  • Cross Border Money Transfer
  • Debit Mastercard

MondayThe Monday Roundup sets the scene for the week’s biggest news stories, industry deals, and upcoming events. For Prime subscribers only.

The next-day cash phenomenon

RolodexNuvei Corporation, the Canadian FinTech company, has launched its new Invoice Financing services that have been integrated into several leading enterprise resource planning (ERP) platforms, including Sage and Acumatica.

This new service enables merchants to access Nuvei’s Invoice Financing solutions directly within their ERP systems to optimise cash flow and unlock working capital more efficiently.

Nuvei’s flagship Accounts Receivable Automation suite is built with the intent of helping customers manage and improve DSO (Days Sales Outstanding). The launch of Invoice Financing represents an off-balance sheet extension of this solution, providing new and existing customers with a high degree of certainty to same day or next day cash.

Flying moneyJapanese-embedded FinTech Smartpay has secured $7 million in a pre-series A round from SMBC Venture Capital and Angel Bridge VC.

Smartpay has brought together Japanese, European, and American powerhouse investors who have deep experience in the FinTech industry. Smartpay is a digital embedded finance system in Japan to offers no interest, no late fees, and free-of-charge installments at the point of purchase.

It provides a checkout process with a credit card or direct from a bank account that takes less than 10 seconds and a hassle-free, fully automated instalment experience, so consumers no longer need to visit a convenience store for instalment payments or have cash ready for delivery. Consumers can also avoid the anxiety of sharing information with unfamiliar merchants.

Borderless Payments

ComputerVerituity, a provider of intelligent, verified payout solutions, has announced the integration of Mastercard Move, Mastercard’s portfolio of domestic and international money transfer solutions, into its payments platform, enabling near real-time payouts for commercial banks and payers.

In an era where customers increasingly expect faster payments, the need for secure, accurate, and prompt disbursement solutions has never been greater. According to Mastercard’s Borderless Payments Report, one-third of consumers surveyed have experienced late or failed cross-border payments, which can result in inconveniences that impact daily life. Specifically, three-quarters of those who experienced a late cross-border payment could not support themselves financially in some way.

“We’re thrilled to join forces with Mastercard to bring more banks into the secure disbursement and remittance ecosystem,” said Ben Turner, CEO of Verituity. “Our innovative turnkey solution will enable banks and businesses to seamlessly use Mastercard Move, including push to card, to make secure, near real time payments while offloading the complexities of verification, integrations and payment modernization.”

Mobile phone with arrowTencent has enhanced the payment experience for visitors to mainland China to foster cross-border tourism and international cultural exchanges.

A series of measures streamlines the process as it is more convenient and safer to register for a WeChat account, as well as quicker and easier to link international cards to Weixin Pay. Weixin Pay is also actively exploring interoperability with more overseas e-wallets to further enhance the payment experiences for visitors. After downloading or updating the latest version of the WeChat app, overseas users can register for a WeChat account with an overseas mobile number and either sign up for a new account or sign in with an existing WeChat account.

After filling in basic card details to link an eligible international card with Weixin Pay, overseas users will be able to easily access over tens of millions of merchants in mainland China, including SMBs and street vendors. The simplified card linking process allows international visitors to spend up to a certain amount safely and conveniently.

What is the buzz

Flying moneyBackbase, the Engagement Banking Platform provider, has expanded its partnership with Navy Federal Credit Union, which serves U.S. veterans, retired service members, active duty military personnel in all branches, and their family members.

Navy Federal Credit Union has signed a multi-year agreement to continue standardizing Backbase as its engagement layer of choice. This renewal positions Backbase as a platform for member—and employee-facing applications, ensuring a seamless banking experience across multiple channels.








Previous Article

April 15, 2024

AutoCount launches e-Invoicing solution for SMEs in Malaysia

Read More
Next Article

April 15, 2024

9Basil Group announces acquisition of AlteriQ

Read More

IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Commercial Banks

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

The Weekly Wrap: all you need to know by Friday COB | May 17th

Read More

May 16, 2024

The Deep dive: AI in Insurance industry in Middle East

Read More

May 15, 2024

Pagos unveils AI-based payments tool for commerce businesses

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023