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The Monday Roundup: what we are watching this week | Feb 3rd

By Puja Sharma

February 03, 2025

  • Amazon
  • Kingdom of Saudi Arabia
  • Mobile wallet
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MondayThe Monday Roundup sets the scene for the week’s biggest news stories, industry deals, and upcoming events. For Prime subscribers only.

Memory-free payments!

Mobile phone with arrowNAB has announced the launch of NAB’s Pay by Bank (PayTo) solution on Amazon’s Australian store. NAB’s Pay by Bank (PayTo) solution will be available to consumers at checkout. This new cardless payment option makes it easy and safe for Amazon shoppers to pay. PayTo offers a simple, secure payment experience for customers and merchants.

The new PayTo payment option gives Amazon.com.au customers visibility and control over their payments by facilitating the safe authorisation of PayTo arrangements via their online banking platform.

NAB Executive, Enterprise Payments and Technology Modernisation, Shane Conway, said the launch of PayTo on Amazon’s Australian store was a win for its customers, its sellers, and the continued simplification of digital payments.

“By integrating our new Pay by Bank (PayTo) capability into its Australian store, Amazon is providing its customers with a new, easy, and secure way for them to pay while at the same time delivering a cost-efficient, instant payment solution for its business. Once Amazon shoppers add and approve PayTo as a payment method via their online banking, there will be no need for them to remember their card, account, or reference details. It’s super simple.”

Bankadditiv, a global provider of digital solutions and platforms for the financial services industry, has announced the opening of its new office in Jakarta, Indonesia, marking the expansion of its Asia Pacific operations.

This move reinforces additiv’s commitment to the region and positions the company better to support financial institutions in their digital transformation journeys.

Indonesia’s financial services landscape is being transformed by increasing digitalisation, high internet penetration, and a supportive regulatory environment focused on promoting financial inclusion. The country’s large population and growing middle class are driving unprecedented demand for sophisticated digital financial services.

Saudi’s 2030 goals

Money bagLendo, the debt crowdfunding platform in Saudi Arabia, has secured a  $690 million (SAR 2.6 billion) warehouse facility led by J.P. Morgan. The facility is expected to contribute to an increase in job creation in the Kingdom, demonstrating Lendo’s commitment to domestic economic growth and employment.

“This landmark facility represents a transformative moment for Lendo and the Saudi FinTech ecosystem,” said Osama Alraee, CEO and co-founder of Lendo. “The strong backing from global financial institutions such as J.P. Morgan validates our innovative approach to SME financing and positions us to expand our impact in the Saudi market significantly. This facility will accelerate our mission of boosting SME growth while contributing to the Kingdom’s Vision 2030 goals.”

J.P. Morgan’s facility will be strategically deployed to increase Lendo’s lending capacity, introduce more innovative products, and expand Lendo’s SME coverage in the Kingdom. The development aligns with Saudi Vision 2030’s goal of increasing SME lending from 4% in 2018 to 20% by 2030.

Flying moneyEnable Banking, the open banking provider offering business account connectivity and account-to-account payment infrastructure, has partnered with Qred Bank. Qred specialises in delivering simple, fast and flexible financing, enabling entrepreneurs to focus on growing their businesses without the constraints of traditional banking systems.

With operations across Sweden, Finland, Norway, Denmark, the Netherlands, Belgium, Germany, and Brazil, Qred has supported over 50,000 businesses. Offering flexible business loans from €5,000 to €500,000, Qred gives entrepreneurs the freedom to repay early, ensuring they only pay for the time they need.

The partnership integrates Enable Banking’s second-generation open banking connectivity with Qred’s advanced risk assessment and decision-making platforms. This collaboration enables real-time financial data analysis, helping Qred streamline credit decisions, enhance customer experiences, and expand its offerings to meet the unique needs of entrepreneurs. Additionally, by leveraging Enable Banking’s account-to-account payment infrastructure, Qred is making it easier for its customers to manage payments seamlessly. The partnership optimises Qred’s operational efficiency by automating previously manual processes.

Sarah Häger, CCO at Enable Banking, said, “We are thrilled about our partnership with Qred. This collaboration highlights the transformative potential of open banking in accelerating the Bank’s business processes and driving innovation. Helping Qred leverage the power of open banking in its processes is a perfect fit for us. From the very beginning, the collaboration has been seamless, and it’s been a pleasure working with such a bright, forward-thinking team who are eager to make things happen and take advantage of Open Banking. Together, we are creating something truly impactful for entrepreneurs, and we’re excited to support Qred as they continue to empower entrepreneurs with flexible and efficient financing options across Europe.”

What is the Buzz

Alien monsterSocial media platform X, previously known as Twitter, has announced a partnership with Visa to power its new wallet service, X Money. This collaboration will leverage Visa Direct to facilitate real-time fund transfers and peer-to-peer payments for users in the United States. The CEO of X, Linda Yaccarino, highlighted that this partnership marks the beginning of several significant advancements planned for X Money, which is expected to launch later this year.

The primary goal of X Money is to enhance user experience by providing a seamless and efficient payment solution within the platform. By integrating Visa’s payment technology, X aims to offer its users a reliable and secure method for conducting transactions. This move is part of X’s broader strategy to expand its services beyond social media and into the financial technology space, creating new opportunities for commerce and user engagement.

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