The Monday Roundup: what we are watching this week | Sept 16th

By Puja Sharma

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

Offering high level capital security

MYbank, a digital bank in China and an associate of Ant Group, has introduced its AI-enabled system (Cuckoo System) for small and micro-sized enterprise (SME) money management at the 2024 INCLUSION Conference on the Bund.

The system forecasts the cash flow of SMEs across various industries, assisting bank-affiliated investment management companies in more effectively anticipating the timing of SMEs’ subscriptions and redemptions of investment products and helping SMEs generate reasonable returns from their idle cash. By aligning financial offerings with SMEs’ operational cycles, the system helps maximise efficiency in their financial management.

Feng Liang, president of MYbank, highlighted the liquidity management challenges faced by SMEs. While SMEs may not prioritise high returns, they require investment products that offer a high level of capital security, align with their variable cash flow cycles, and provide stable returns.

DNA Payments has introduced Apple Pay Express Checkout, giving e-commerce clients a new way to accept customer payments. Now, merchants can offer Apple Pay at checkout or via the Express option through the Safari browser, ensuring consumers a swift and seamless buying experience.

Apple Pay Express Checkout has become the primary method of payment for millions of users, letting them pay directly via the iPhone, tablet, laptop, or desktop browser. According to an analysis by Finder, 69% of mobile payment users in the UK are using Apple Pay, with the service recording over 500 million global users.

Integrating Apple Pay Express Checkout lets merchants simplify their buying journey, reduce cart abandonment and foster repeat business. This, in turn, enhances satisfaction, brand loyalty, and customer confidence, addressing the common issues customers face at checkout.

Power of EMI

Mondu, the Amsterdam-based B2B FinTech, has signed a new partnership with Stripe, the global financial infrastructure platform for businesses. B2B merchants and marketplaces can now offer Mondu’s flexible invoice payment options directly through their existing Stripe set-up, enhancing the checkout experience and driving higher conversion rates.

Mondu offers innovative deferred payment solutions to simplify European business transactions. Focusing on flexibility, convenience, and security, it is dedicated to enhancing the B2B payment experience both online and offline, supporting businesses in their growth and operational efficiency.

This partnership follows Mondu recently being granted an Electronic Money Institution (EMI) license from the Dutch Central Bank (DNB). The EMI license enables Mondu to expand its services in the Netherlands and across Europe, offering improved product flexibility, more incredible contracting options and accelerated geographic expansion.

Niyo, India’s travel-banking FinTech, has forayed into outward remittance to strengthen its offering for Indian students pursuing education abroad.

This new offering is designed to provide a seamless, secure, and affordable way for students and their families to transfer money internationally, ensuring that the financial aspects of studying abroad are as stress-free as possible.

With Indian students making up 25% of Niyo’s total customer base, the introduction of this remittance service aligns with the company’s strategic focus on this high-growth segment.

In recent years, the number of Indian students studying abroad has surged. Over 1.3 million students are pursuing higher education internationally in 2023 alone, a number expected to exceed 1.5 million by 2025.

What is the Buzz