Visa invests in POS financing platform ChargeAfter

Visa | February 12, 2020

Visa has made a strategic investment in ChargeAfter as part of a broader deal with the point-of-sale financing technology platform. ChargeAfter connects merchants and lenders to give shoppers personalised financing options from multiple sources at the point of sale. Under the agreement, Visa's network of sellers, acquirers and issuing banks will be able to use ChargeAfter's platform to distribute a range of POS financing and credit instruments to in-store and ecommerce sellers. Visa's issuing banks will also get the ability to act as direct lenders in ChargeAfter's network. Shahar Friedman, head, Visa Innovation Studio Tel-Aviv, says: "Working with ChargeAfter, we aim to make it easier for sellers and financial institutions to offer a range of tailored, personalized financing options at the point of sale, allowing consumers to manage their payments in a way that works for them."

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FINANCIAL MANAGEMENT

FTFT Signs MOU to Acquire Alpha International Securities

Future FinTech Group Inc. | September 12, 2022

Future FinTech Group Inc., a blockchain application technology developer and a fintech service provider, announced today that on September 1, 2022, Future FinTech (Hong Kong) Limited, a wholly owned subsidiary of the Company, signed a Memorandum of Understanding for Equity Acquisition (the 'MOU') to acquire Alpha International Securities (Hong Kong) Ltd. (Alpha Securities) from Alpha Financial Limited, a firm based in Hong Kong. The purchase price and acquisition terms of the acquisition are to be determined pending due diligence and a financial audit of Alpha Securities by FTFT HK, with a formal acquisition agreement to be executed within 60 days after the parties are satisfied with the results of the due diligence and a mutual agreement as to the terms of the acquisition. The MOU stipulates that for a period of two months, Alpha Financial Limited will not engage in activities with any other party pursuant to the sale of Alpha Securities. The MOU represents terms for a proposed transaction subject to definitive documentation and is non-binding except for its 'Confidentiality and Exclusivity' and 'Governing Law and Dispute Resolution' sections. Steven Xiang, General Manager of Alpha Securities, stated, Alpha Securities mainly focuses on three financial services sectors: Online brokerage services consisting of Hong Kong equities as well as US equities, where we work with our partner, a US brokerage firm, The underwriting and distribution of securities for Hong Kong IPOs, and The underwriting of US dollar-based bonds issued by Chinese municipal cities and companies in Hong Kong. We hold Type 1 'Securities Trading', Type 2 'Futures Contract Trading' and Type 4 'Securities Consulting' financial licenses issued by the Hong Kong Securities and Futures Commission. Mr. Xiang continued, The Alpha Securities management team has substantial international financial markets experience and our principal team members are from well-known financial institutions. We have over 30,000 customer accounts and have underwritten 29 IPOs in Hong Kong since July 2020. In terms of our offshore China US dollar bond issuance, we underwrote approximately US$1.34 billion for nine municipal investment funds and enterprises. "Alpha Securities is committed to providing customers with a full range of financial services in Hong Kong including online brokerage services, IPOs, rights issuances for listed companies, financial advisory services and US dollar-based Chinese municipal and enterprise bond issuance services among our other services." - Alpha Securities' Mr. Xiang Shanchun Huang, Chief Executive Officer of Future FinTech, commented, We believe that this potential acquisition will be synergistic with Nice Talent Asset Management Limited (NTAM), our 90%-owned asset management subsidiary also based in Hong Kong, as well as other financial services businesses that we are developing. We believe that Alpha Securities could also play an important role in our continued transformation as we internationalize and diversify our business and income flows. Our objective is to become a diversified fintech enterprise that optimizes current opportunities and integrates them into a comprehensive and strategic business platform. About Future FinTech Group Inc. Future FinTech Group Inc. is a blockchain application technology developer and fintech service provider incorporated in Florida. The Company's operations include a blockchain-based online shopping mall platform, Chain Cloud Mall (CCM), supply chain financing services, asset management, and cryptocurrency market data services. The Company is also engaged in the development of blockchain based e-Commerce technology and cryptocurrency mining, cryptocurrency investment management as well as financial service technology and business.

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WEALTH MANAGEMENT

Secfi launches ‘Secfi Wealth’, a fully independent RIA to provide startup founders and employees with financial planning and investment management

Secfi | September 28, 2022

Secfi, the leading provider of equity planning, today announced the launch of Secfi Wealth, offering personalized financial advice, investment management, and access to alternative investments opportunities for those with startup equity. As a registered investment advisor (RIA), Secfi will now expand on its equity planning expertise to provide comprehensive financial advice and ongoing investment management specifically for the startup community. Equity is the most exciting yet daunting aspect of a startup employee’s financial life, and requires dedicated expertise and guidance to get it right. The startup community is underserved by today's wealth managers who lack extensive experience with stock options, advanced tax planning, and a deep understanding of venture valuations. In addition, they often require clients to have at least hundreds of thousands of dollars in investable assets. Secfi provides investment advice when it matters most early in one’s financial life which is why Secfi doesn’t require a minimum amount of investable assets to work with an advisor. Secfi brought John Morrison on to lead the design and management of client portfolios, as well as educate clients on investing. John brings over a decade of portfolio management experience to Secfi. He was a portfolio manager of systematic active strategies at Dimensional Fund Advisors for several years. He also spent a number of years evaluating alternative investments from a risk management point of view at Goldman Sachs, and consulted at Bain and Company. We listen to our clients and build a portfolio that suits them and their unique situation. Our goal is to save them money, make them money, and/or lower their risk by taking a systematic, data driven approach to investing while controlling what we can control in the structuring and management of their portfolio, Many of our clients reached their current level of financial wealth by taking a chance at a startup, working hard, and reaping outsized returns as a result. We help them grow that wealth in a way that avoids single points of failure so they can have the freedom to live the life they want to live and potentially take another chance on something with confidence,said Morrison. “Startup equity is an important gateway to future wealth, which is why it’s key that it be incorporated into financial planning, Historically, access to this level of expertise and wealth management would be limited to startup founders. But the reality is that it’s needed by all levels of startup employees. We’ve been waiting for this day ever since we started Secfi to provide a holistic offering to our clients.” -Frederik Mijnhardt, CEO and Co-Founder of Secfi With this additional offering, startup employees receive access to specialized expertise in pre-and post-IPO equity planning, stock option exercise and selling strategies, tax planning, preparation and filing, secondary and tender offers, and investment diversification creating a one-stop shop for employees to understand their choices around their stock options and how this impacts their larger financial goals. Since 2017, Secfi has been the startup community’s leading equity advocate, and has worked with employees from 90% of all U.S. unicorns including Airbnb, Palantir, and Doordash, helping them understand, maximize, plan, and provide cash to unlock the value of their stock options. More than 30,000 startup employees have used Secfi’s platform for equity planning, representing $48 billion in equity. About Secfi Secfi is trusted by startup employees for equity planning, stock option financing, and wealth management. We’re the first to provide a digital platform for equity planning, 1:1 financial advice, and ongoing investment management, as well as financing products that enable employees to own a stake in the company they helped build. We’ve worked with employees from more than 90% of all U.S. unicorns, and built more than 30,000 equity plans worth $48B in equity value. As an expert in valuing private companies, Secfi has studied and underwritten hundreds of high-growth startups.

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FINANCIAL MANAGEMENT, FINTECH

Finastra and Modefin partner to provide best-in-class fintech solutions for banks in Africa and selected Indian subcontinent markets

Finastra | November 14, 2022

Finastra, a global provider of financial software applications and marketplaces, and Modefin, a global fintech solution provider helping banks to thrive in the digital age, today announced their partnership to offer Finastra's Fusion Trade Innovation and Fusion Essence solutions to banks in Africa and several Indian subcontinent markets. With Finastra's solutions, Modefin will help its customers embrace open finance today and future-proof their banking and global trade operations. "We are excited to partner with Finastra and bring its proven solutions to our current and future customers, We have a longstanding relationship, having partnered previously to bring our own solution to market via its FusionFabric.cloud platform. It's a pleasure to continue strengthening our relationship, and I look forward to bringing together Finastra's solutions and expertise with our knowledge of the regional market and strong customer base." -Amit Darda, Co-Founder and Director at Modefin Finastra supports banks as they continue to adapt to changing market requirements and customer expectations – while futureproofing for tomorrow. Fusion Essence, the cloud-enabled next-generation core banking solution, combines sophisticated functionality and advanced technology to increase enterprise agility and operational efficiency, while using AI to unlock data for smarter business decisions. The SaaS offering covers every stage of the user journey, enabling financial institutions to deliver end-to-end experiences for differentiation. Fusion Trade Innovation is Finastra's end-to-end solution with industry-leading capabilities for frictionless trade and supply chain finance. It uses straight-through processing, digitalization, and data analytics to enable intelligent trade for growth, with the ability to evolve with evolving compliance, customer and competitive demands. At Finastra, we believe that finance is already open, Our open ecosystem and best-of-breed solutions enable banks to leverage advanced technology and value-added services for ongoing innovation and growth. Our partners play an integral role in helping us to deliver this. With its strong team, track record, on-the-ground presence and shared passion for open finance, we are pleased to partner with Modefin to help propel banks forward in the region,said Wissam Khoury, EVP, Partner Ecosystem and Treasury & Capital Markets at Finastra. 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 solutions and services across Lending, Payments, Treasury & Capital Markets, and Retail & Digital 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. About Modefin Modefin is a global fintech solution provider that empowers banks and financial institutions with state-of-the-art digital banking solutions that help them to thrive in the digital age. Founded in 2011 and headquartered in Bangalore, India, we currently serve 60+ banks in more than 20 countries worldwide. With our technical expertise and domain knowledge, Modefin provides infinite banking possibilities for banks of any size to accelerate their digital transformation & stay ahead of the competition. We aim to deliver quality products and services that are reliable, built on long-standing values and relationships, winning confidence of customers, and enhancing their lives.

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FINANCIAL MANAGEMENT

KCB and TerraPay partner to Enhance Cross-border Remittances

TerraPay | October 21, 2022

KCB Bank Kenya customers now have an opportunity to seamlessly receive funds from the diaspora to their accounts in Kenya, powered by a partnership with Mobex (an affiliate company of TerraPay Group, a UK-headquartered digital payments infrastructure and solutions provider). With TerraPay onboard, KCB Bank seeks to fortify its position as a key player in strengthening the global payments ecosystem by giving its customers access to simple, competitive, and faster services leveraging the growing demand for digital channels. "We are reaffirming our commitment to harness technology and strategic partnerships in ensuring that our customers continue to enjoy the freedom of modern banking. What we are doing is we are utilizing fintech capabilities to build linkages and strategic partnerships with like-minded partners to ensure that our customers have access to top-of-class remittance services." -KCB Bank Director of Retail Banking, Mrs. Annastacia Kimtai The Bank has been at the forefront of actively championing and accelerating financial inclusion through leveraging collaborations with fintech institutions to become a major processor of remittances and payments around the world. On his part, the Founder and CEO of TerraPay, Ambar Sur, said, This is an exciting time for cross-border payments. We have no doubt that this new partnership with KCB Bank will help us remove the barriers around cross-border money transfers through seamless, secure, and real-time payments across Africa and Asia. Data from the Central Bank of Kenya indicates that remittance inflows into Kenya grew by 13.2% year-on-year as of September 2022 from $ 3.5Bn (Kshs. 427Bn) in 2021 to $ 4Bn (Kshs. 484Bn). This was accelerated by advances in technological innovations that helped people overcome the economic struggles brought about by the COVID-19 pandemic. About KCB Bank Kenya Ltd KCB Bank Kenya Limited is the largest commercial bank in the country. A subsidiary of KCB Group Plc, the Bank has the largest branch network, with over 200 branches, 367 ATMs and 16,000 agents offering banking services on a 24/7 basis in East Africa. This is complemented by mobile banking and internet banking services with a 24-hour contact center services for our customers to get in touch with the Bank. KCB Group Plc - which also has presence in Uganda, Tanzania, South Sudan, Burundi, Rwanda and a representative office in Ethiopia also boasts of a wide network of correspondent relationships totaling over 200 banks across the globe and our customers are assured of a seamless facilitation of their international trade requirements wherever they are. About TerraPay Headquartered in the UK, TerraPay believes that the smallest payment deserves a borderless journey as safe as the largest. The group has been building an ever-expanding payments highway that empowers businesses to create transparent customer experiences with an uninterrupted, secure, and real-time global passage for every payment, however small or large. Regulated and approved in across 26 global markets, TerraPay is a leading global partner to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a more expansive and inclusive international financial ecosystem. With access to a payments infrastructure that spans the globe, their partners become beacons of the promise of global financial inclusion.

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Spotlight

Today, players are demanding more convenience, rewards and security than ever before. As result, forward-thinking operators in the online gambling and gaming industry are looking for ways to strike a balance between offering better, more engaging player experiences while safeguarding their payments and improving player loyalty.

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