The Weekly Wrap: all you need to know by Friday COB | August 25th

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements. For Prime subscribers only.

The Big Story

Cashfree Payments, India’s payments and API banking solutions company has launched ‘Vendor Payments’, a comprehensive platform that empowers businesses to streamline and manage their purchase-to-pay cycle.

‘Vendor Payments’ simplifies vendor payments and account payables, including utility bill payments, other business expenses and due taxes. The new platform enables users to effortlessly upload invoices received from suppliers and other account payables by either manually entering the details or importing them from accounting tools.

The solution supports bulk invoice uploads, enabling businesses to process multiple invoices simultaneously for improved efficiency. Similarly, businesses can add beneficiary details for payments and easily input invoice details. Once the invoice details are updated, businesses can initiate single or bulk payouts for unpaid invoices. ‘Vendor Payments’ supports various payment modes, including Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT), Interbank Funds Transfer (IFT), and Unified Payments Interface (UPI).

The solution seamlessly integrates with popular accounting tools like Tally, Tally Prime, and other ERPs to sync unpaid invoices and payment statuses seamlessly. Integration with accounting tools allows for easy export and reconciliation of payment data.

Deals of the week

• UK launches £1bn investment fund backed by Mastercard, Barclays
• British Business Investments secures £20m Tier 2 facility
• YES BANK & Zaggle unveil next gen ‘Corporate Credit Card’
• MasterCard to accelerate AI and cyber technology in Dubai
• Sapiens & Tier-One South African Bank to expand insurance products in Namibia
• mPay & Alipay+ widen cross-border payments reach for Macao residents
• UAE banks commit $51.8b in green financing
• Cynergy Bank lands $21m funding from British Business Investments
• PhonePe taps Cloudera to enhance hybrid data management
• FinTech MyFatoorah attains UAE Central Bank acquiring license
• Reltime partners GNB Swiss Investments for cross-border payments

Be on the lookout for

D3 Bahamas Web3 & FinTech Conference!

Set in the stunning Atlantis Paradise Island Bahamas from October 10-12, 2023, this event, supported by the Government of the Bahamas and hosted by Securities Commission of The Bahamas and Finoverse, aims to restore trust in the Web3 World.

This event connects you with 800+ industry leaders to gain strategic insights, spark collaborations, and advance your mission in Web3. Dive deep into the latest regulatory trends and innovations. Leave empowered with the relationships and knowledge to take your growth further.

At D3 Bahamas, be at the center of visionary policymaking and cross-border partnerships reshaping the digital landscape. This is our opportunity to drive innovation at the intersection of regulation, technology and finance hand in hand Join us to collaborate on the future of a thriving digital economy.