PYMNTS-MonitorEdge-May-2024

FinTech

Financial technology, often shortened to fintech, is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance.

Revolut Valued at $45 Billion in Secondary Share Sale
Revolut Valued at $45 Billion in Secondary Share Sale
August 16, 2024  |  Digital Banking

Revolut signed agreements with investors for a secondary share sale that values the company at $45 billion. The British FinTech launched the secondary share sale...

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Exclusive: Mercado Pago CEO on Building Brazil’s Biggest Digital Bank
Exclusive: Mercado Pago CEO on Building Brazil’s Biggest Digital Bank
August 16, 2024  |  Digital-First Banking

Most countries measure banking activity in terms of where and how it happens. Hence distinctions such as in-branch, ATMs, online and mobile. But in Latin...

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Amount Raises $30 Million to Expand Into Credit Union Space
Amount Raises $30 Million to Expand Into Credit Union Space
August 15, 2024  |  Investments

Banking technology firm Amount has raised $30 million to expand into the credit union sector. Amount announced the $30 million equity capital raise in a Thursday (Aug....

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Sling Money Raises $15 Million for Money Transfer App
Sling Money Raises $15 Million for Money Transfer App
August 15, 2024  |  Investments

Stablecoin-centric money transfer app Sling Money has raised $15 million in new funds. Sling’s app combines stablecoin technology “with a user-friendly interface” and integration with fiat payment...

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Adyen Sees POS Volumes Surge 32% and Growing Omnichannel Demand
Adyen Sees POS Volumes Surge 32% and Growing Omnichannel Demand
August 15, 2024  |  Earnings

Adyen posted first-half results that showed continued momentum in omnichannel commerce, particularly among clients expanding globally into new regions, and where platforms and localized payment...

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Grab Sees Strong Banking Growth From Digitally-Engaged Singapore
Grab Sees Strong Banking Growth From Digitally-Engaged Singapore
August 15, 2024  |  Earnings

Indonesian super app Grab saw a record number of monthly users in its latest quarter. “We continued to harness the strength of the Grab ecosystem, and improved...

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Klarna Reportedly Looking for $20B From Planned IPO
Klarna Reportedly Looking for $20B From Planned IPO
August 15, 2024  |  IPO

Klarna is reportedly ready to tap Goldman Sachs to help it go public next year. The Swedish buy now, pay later (BNPL) company is in...

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Unified Commerce Emerges as Key Factor in Customer Experience
Unified Commerce Emerges as Key Factor in Customer Experience
August 15, 2024  |  Payments Innovation

Advances in banking and payments are transforming business operations. Taken together, the integration of these two functions is changing, well, everything. “Customers are looking for...

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Debt Consolidation FinTech Tally Shuts Down Amid Funding Drought
Debt Consolidation FinTech Tally Shuts Down Amid Funding Drought
August 14, 2024  |  Debt

On its face, the shuttering of Tally, a FinTech focused on helping consumers manage credit card debt, offers a snapshot of how tough fundraising is...

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