In today’s FinTech news, Contis and Ecospend are bringing instant payments to MrQ games, while MTN is granted a license to operate a mobile bank. Plus, Google’s parent company Alphabet is on a mission to automate as many payment processes as possible.
Contis Teams With Ecospend to Deliver Faster Payments to MrQ Gaming Site
Banking-as-a-Service (BaaS) provider Contis and open banking tech company Ecospend are bringing a closed-loop, instant payment solution to the online gaming site MrQ.com. The application programming interface (API) solution uses real-time payment rails which are less expensive than card-based payment rails.
Nigerian Central Bank Grants Mobile Banking License to MTN to Operate Momo Payment Service Bank
South African telecom MTN got the green light for a mobile banking license from the Central Bank of Nigeria. MTN will operate its mobile banking service as Momo Payment Service Bank Limited. The central bank said it is issuing the licenses to help boost financial inclusion in rural areas. Nigeria is MTN’s largest market.
Google Will Automate Every Financial Operation It Can, Finance Chief Says
Google’s parent company Alphabet is looking to reduce manual processes and is making a move to automate as many financial tasks as possible by making additional use of artificial intelligence (AI), the cloud, raw data and machine learning. The company is set on seeing how automation can improve processes, make the company a better partner to its client business and reinvest time saved into the next business challenge.
Pax8 Notches $185M to Expand SMB Tech Platform
Cloud commerce marketplace Pax8 raised $185 million at a post-money valuation of $1.7 billion. The platform wants to use the funding to expand its technology and platform. The company simplifies the IT buying experience for small and medium-sized businesses through the IT channel ecosystem and make billing and provisioning easier through automation.
India Boots Coinbase From Payments Interface Days After It Enters Market
The government in India is making it tough for cryptocurrency exchanges to operate although the country hasn’t banned the trading of digital assets altogether. The Reserve Bank of India has been pushing for a complete ban, comparing crypto to a Ponzi scheme.
Mobile Ordering Comes to Baseball Stadiums Across the Country
The San Francisco Giants will offer mobile ordering at its Oracle Stadium, one of several baseball stadiums to go all-in on making it easier for fans to purchase concessions. The St. Louis Cardinals are introducing self-serve concessions stands where consumers can scan their own items. Erie, Pennsylvania’s Erie SeaWolves minor league team introduced mobile ordering this year as well.
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