Apple introduced a few innovations to Apple Pay at last year's WWDC. Among them is the ability to track purchases and their status directly within the Wallet app. Apple Pay Later is a new feature that should have been introduced a long time ago. You may know a similar part from PayPal or Amazon.
Cyprus-based Amit Klatchko's PayTech Praxis Tech Ltd announced new and improved features for its product offering, including enhanced verification and bulk action functions. The new features include a bulk action feature, an improved verification feature, multiple customer profile selections, and new currencies and countries added to the Praxis dashboard. Praxis has also added new currencies and countries to the dashboard.
The private debt sector is booming. Private debt refers to loans that banks do not grant. In 2021, the volume reached USD 1,187 billion, a fourfold increase in ten years. The reason for this is the growing interest of institutional and private investors in attractive alternatives to the usual fixed-interest investments.
Open Banking and Open Finance are essential to any digitization strategy for banks and asset managers. For digital offerings and apps to run smoothly and securely, there needs to be a stable and secure interface between the systems. The German API provider Ndgit (website), based in Munich, has developed a system for securely connecting banks to the bLink platform of exchange operator SIX.
Gini (website) has now released an OCR update for the AI remittance feature "Photo Remittance." With Gini Pay, customers can pay bill totals via smartphone photo, recognition via QR code with payment information, or direct sharing of a digital document with the banking app. The required information, such as IBAN or amount, is read from the document and automatically inserted. The user then only has to approve the transfer.
CashD (website) an Australian FinTech, said traditional pay cycles had not gotten things done for many workers, especially those with "on-demand" needs. The company claims that its services also address concerns about inflation, as employees who are paid on their schedules may be a better fit.
E-commerce FinTech company SellersFunding is launching two new working capital products to increase its resources for small businesses. SellersFunding is a digital platform with financial products that streamline global trade across working capital, cross-border cash management, and business valuation markets. The two new products, Invoice Factoring and Purchase Order (PO) Financing will allow SellersFunding to expand its offerings to businesses outside the e-commerce and wholesale sectors.
Transforming financial management for midsize companies is the declared goal of fintech platform Moss (website). With smart corporate credit cards, the Berlin-based company offers new ways to manage expenses. Organizing a corporate credit card with a sufficient limit as a start-up is one of the main challenges for founders. Because without a credit history, this can be difficult but Moss has a solution.
Ebury (website) has now injected €800,000 into the know-your-customer (KYC) and payments platform LoopingOne (website) to seal the partnership. The goal is to develop the LoopingOne product further and obtain a license as an Electronic Money Institution (EMI) with the Dutch Central Bank (DNB).
