BLOCKCHAIN

Wirex App Enables Avalanche Blockchain for 4.5M Users

Wirex | March 01, 2022

Wirex_App_Enables
Wirex, a leading crypto provider, has announced that it is expanding its sphere to enable access to the popular Avalanche blockchain and tokens for 4.5 million users. The popular Avalanche blockchain and tokens recently launched the award-winning Wirex Wallet and the app.

Wirex is available in more than 120 countries and has been on a mission to allow customers to reap the benefits of crypto and DeFi. The mission also includes the expansion of Avalanche, which will accelerate progress for an unparalleled user experience and technology. Avalanche is the fastest intelligent contracts platform in the blockchain industry. Interestingly, it is compatible with Ethereum smart contracts and tooling. As a result, Ethereum users and developers can quickly access high-performance decentralized apps with such compatibility.

With the support of Avalanche in the application, Wirex is actively enabling mainstream users to access Defi easier than before. On this platform, users can send, receive, store and exchange payments through their mobile devices in a secure way. In addition, users can also take advantage of cheaper gas fees and can take advantage of custom tokens on blockchains.

Furthermore, Wirex app users can also purchase AVAX with their debit/credit card at market rates, which can be seamlessly exchanged and easily sent and received to and from any other AVAX wallet. Furthermore, users can spend AVAX plus up to 61 cryptos with the help of using traditional currencies globally on the Wirex platform, which is linked to a crypto-enabled debit card. Apart from this, users can also earn up to 20% AER interest* on AVAX through the recently launched Defi savings product at particular monthly fees.

Pavel Matveev, CEO and Co-Founder of Wirex commented, "Wirex continues to innovate and build partnerships that strengthen our offerings, and the addition of Avalanche is helping to develop use-cases for the Wirex ecosystem. In addition, Avalanche's reputation for improving blockchain's accessibility closely aligns with Wirex's, where we can together help to offer users of all backgrounds more choice and flexibility over how they wish to use crypto."

Wirex and Ava Labs, a team supporting development of the Avalanche blockchain, have worked with the payment technology company Mastercard. With Mastercard, it will help make the entire payment process a reality. As a result, Wirex became a crypto card program partner in 2020, and Avalanche became a Mastercard Start Path Crypto engagement program member in 2021.

Wirex is moving fast to make digital assets and the innovation happening on public blockchains more accessible to the masses. We're excited to support Wirex's expansion to Avalanche and look forward to further collaboration with Wirex and Mastercard."

John Wu, President of Ava Labs

Spotlight

Our latest white paper analyzes the impact of inflation on movement patterns across the country and examines how changing demographics can affect local businesses. We’ve looked at the impact of internal migration before, exploring the way COVID-19 changed the way people move and the subsequent ripple effects on local industries.

Spotlight

Our latest white paper analyzes the impact of inflation on movement patterns across the country and examines how changing demographics can affect local businesses. We’ve looked at the impact of internal migration before, exploring the way COVID-19 changed the way people move and the subsequent ripple effects on local industries.

Related News

FINANCIAL MANAGEMENT, FINTECH

Pinwheel Joins Visa Fintech Partner Connect Program

PRnewswire | March 30, 2023

Today, Pinwheel, the market-leading provider of income and employment data provider engineered for fintech innovation, joined the Visa Fintech Partner Connect program. Visa Fintech Partner Connect participants are Visa Ready certified by Visa and trusted by the global payments ecosystem to help technology companies build and launch payment solutions that meet Visa's global standards around security and functionality. Pinwheel helps leading financial institutions and fintechs become the primary bank, reduce risk, and activate users with market-leading performance, connectivity, security, and compliance. Pinwheel's enterprise-grade API makes it easy to access real-time data and controls in consumer income & employment accounts. Compared to other market offerings, Pinwheel takes income and employment data a step further by applying robust analytics and intelligence to make sense of the data, so fintechs and financial institutions don't have to. Pinwheel uniquely connects to over 1700 platforms (covering 80% of US workers) and over 1.5 million employers. With Pinwheel, fintechs and financial institutions power direct deposit switching, earned wage access, income & employment verification, build innovative new products, and more. Being selected for the Visa Fintech Partner Connect program showcases Pinwheel's strong commitment to security and compliance. Pinwheel is a Consumer Reporting Agency (CRA), meaning the company offers Fair Credit Reporting Act (FCRA)-compliant income and employment data that can actively be used in lending decisions. Pinwheel also received the highest security certification in the industry, an ISO/IEC 27001:2013 certification. "We're excited to be able to connect more directly with the fintechs and financial institutions in Visa's ecosystem to help them take advantage of our leading income and employment data connectivity," said Lauren Crossett, CRO of Pinwheel. "Our mission is to create a fairer financial system, and teaming up with Visa will allow us to reach more customers that can build products and services that better serve consumers." "Today, consumers want seamless interactions across mobile and web, and access to a greater suite of digital banking capabilities," said Vanessa Colella, SVP and Global Head of Innovation and Digital Partnerships at Visa. "With Pinwheel participating in the Fintech Partner Connect program, our clients will have access to a powerful set of tools for building new digital-first experiences." Enterprise-grade flagship solutions A recent Pinwheel survey concluded that consumers believe banks and fintechs should be their allies and provide a more comprehensive offering of personalized products. Pinwheel's advanced product suite allows its customers to answer this consumer demand: Pinwheel Deposit Switch: Seamlessly automate direct deposit switching to help customers grow lifetime value, increase retention and profitability, and become the primary financial institution. Pinwheel Smart Branch: Bring the power of digital automation and tools to physical locations to increase profitability, improve the customer experience, and keep pace with consumer preferences. Pinwheel Earnings Stream: Support new products, such as enabling cash flow underwriting and simplifying earned wage access (EWA), to alleviate the financial stress of traditional underwriting and traditional pay periods with Pinwheel's up-leveled insights such as projected earnings or accrued earnings. Pinwheel Taxes: Automate the tax form retrieval process to help build solutions that make taxes less taxing for customers, helping to win consumer sentiment by addressing even more of their financial needs Pinwheel Verify: Access consumer-permissioned income and employment data to manage lending risk, improve underwriting models, and increase repayment rates. About Pinwheel Pinwheel is the market-leading income and employment API. With Pinwheel, fintechs and financial institutions are empowered to build the next generation of financial products that will help create a fairer financial system. Pinwheel provides access to consumer-permissioned income & employment accounts and actionable insights that help them make sense of the data they need to tailor their tools and services for consumers. Pinwheel's platform has enterprise-grade security protocols to power connections to over 1,600 platforms (covering 80% of US workers), and over 1.5 million employers. From that point of connectivity, leading fintechs and financial institutions (such as Block, formerly Square) leverage us to power direct deposit switching, earned wage access, income & employment verification, and build innovative new products. Pinwheel is also a Consumer Reporting Agency (CRA), making the company the only provider in the space offering Fair Credit Reporting Act (FCRA)-compliant income and employment data that lenders can use actively in decisioning. Pinwheel is trusted and funded with $77M by top-tier investors such as GGV, Coatue, First Round Capital, and more.re.

Read More

FINANCIAL MANAGEMENT, PAYMENTS

Accepting phone payments is a smart move for a seamless, secure and speedy buying experience, says Lanistar

PRnewswire | April 26, 2023

The adoption of card payment acceptance by smartphone apps is transforming how payments are processed. Mobile payments not only benefit retailer-customer relations but open up business opportunities to innovations such as click-and-collect and mobile wallets with integrated loyalty. This is according to virtual payment card provider Lanistar. Jeremy Baber, CEO of Lanistar said: "With smartphone technologies continuing to advance, businesses can process card payments through apps to improve efficiencies and streamline sales. Merchants should consider accepting card payments on a mobile device to allow customers to pay from any location. Mobile payments not only reduce expenses but increase data security which is instrumental to business success." Businesses can choose from a variety of methods of mobile payments, including cloud terminals that process transactions through a web-based application, scanning app-generated QR codes and sending payment links directly to customers that leads to transaction web pages. SoftPos a new revolutionary technology also bypasses the need for external card readers by using NFC technology on smartphones to read cards and accept payments. Baber continued: "Payments accepted through smartphones are the future of transactions provided that proper regulations and compliance are in place. However, due to its restricted availability, it is crucial to choose the app wisely. Merchants must select a reputable service provider with a reliable track record, with regular updates being the top priority." Accepting payments through mobile apps provides a host of benefits, including reducing costs by eliminating external hardware and cumbersome payment infrastructures, and increasing sales thanks to the reduced complexity of processes. Merchants are also more secure, with payment app developers continuously introducing fraud-prevention tools to enhance safety. Baber concluded: "New mobile payment tools allow organisations to analyse financial behaviour providing data-based knowledge to establish business strengths. Furthermore, accepting phone payments is a sustainable and green option, eliminating the need for extensive hardware and the need for printing receipts and transaction records." "Mobile payment acceptance is the future and will help satisfy a new generation of customers with smooth payment experiences. Mobile devices are transforming where we can do business, with new processes allowing businesses to accept payments from any location. Organisations need to adapt to change as the benefits speak for themselves." About Lanistar Lanistar was founded in 2019 by entrepreneur Gurhan Kiziloz, whose ambition is to build a fintech unicorn that truly challenges the status quo of old-fashioned, traditional banking services. Using modern technology and working with industry-leading partners, the Lanistar team is building a platform that provides a total 'AnyMoney' solution for its customers. This will give customers access to all their financial products in one place, from general bank accounts all the way through to cryptocurrency. Lanistar is not a bank but a payment card provider, operating as an intermediary that offers financial services to end users. Lanistar offers the services of a typical bank account through its banking partner Modulr, but with advanced UI/UX and design to make it easier and more secure than high street banks. Lanistar Ltd is a registered EMD agent (FRN:902996) of Modulr FS Limited and may distribute and redeem e-money and provide payment services. Modulr FS Limited is authorised by the Financial Conduct Authority ("FCA") under the Electronic Money Regulations 2011 (FRN: 900573) for the issuing of electronic money and to provide payment services. Lanistar Limited ("Lanistar") is currently only carrying our pre-launch marketing in preparation for the future launch of Lanistar branded payment cards ("Cards"). Lanistar is finalising arrangements with various partner firms who are authorised and/or regulated (by the FCA and other overseas regulators) and the Cards will only be launched and go-live when those arrangements are in place.

Read More

FINANCIAL MANAGEMENT, FINTECH

Finastra and Plaid announce collaboration to give account holders streamlined access to fintech apps

PRnewswire | April 18, 2023

Finastra today announced that Plaid, the leading open finance provider, is now integrated within Finastra's Fusion Digital Banking platform. The partnership, delivered via Finastra's FusionFabric.cloud open APIs, provides financial institutions of all sizes within the Finastra ecosystem with account verification tools, making it easier and more secure for consumers to link their account data from their main financial institution with external financial apps and services. Fusion Digital Banking is designed to adapt to advances in open finance, allowing banks and credit unions offering the platform to easily deliver the personalized experiences customers expect and rely on. Recognizing that many account holders now utilize various applications to manage their finances, the Plaid integration helps these institutions effectively meet these customer demands, ultimately helping them stay competitive with larger banks and emerging market entrants. Through Plaid's API technology, Fusion Digital Banking financial institutions can significantly increase efficiencies and move to credential-less integrations, adding a distinct layer of security. Further, it ensures more reliable connections for customers who permission their accounts to Plaid-powered applications. "Plaid is committed to ensuring that any financial institution, regardless of size, type, or technical readiness, can enable their account holders to permission data via API connections," said Aly Yarris, Financial Access Partnerships at Plaid. "By partnering with Finastra's growing ecosystem, we're excited to help even more financial institutions give their customers the tools they need to securely and reliably access the fintech apps they rely on every day." Narendra Mistry, Chief Product Officer, Universal Banking at Finastra said, "As the world continues to embrace open finance, it is critical that we deliver the services community banks, credit unions, and all financial institutions need to make it simpler and easier for their customers to connect the various pieces of their financial picture. We are pleased that the more than 200 financial institutions offering Fusion Digital Banking can now give their account holders reliable and secure access to thousands of Plaid-powered fintech apps." Finastra's integration with Plaid represents the broader shift toward open finance in the financial services industry. Read more about this shift in Finastra's Financial Services State of the Nation Survey. About Finastra Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world's top 100 banks. For more information, visit finastra.com.

Read More