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Atome Ties up with FOMO Pay to Expand BNPL Acceptance Across Asia

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FOMO Pay, a QR payments provider, announced a partnership with Atome that will expand seamless Buy Now, Pay Later (BNPL) acceptance across thousands of online and offline retail businesses in Singapore and across Asia.

Atome’s platform has over 3,000 online and offline retailers in nine markets namely Singapore, Indonesia, Malaysia, Hong Kong, Thailand, Philippines, Taiwan, Vietnam and mainland China.

Launched in 2015, FOMO Pay is headquartered in Singapore and its one-stop payment solution for merchants serves a wide range of industries.

With FOMO Pay, merchants allow customers to easily pay via a range of digital, cashless payment options conveniently, smoothly and securely.

Zack Yang, COO and Co-founder of FOMO Pay

Zack Yang

Zack Yang, COO and Co-Founder of FOMO Pay said,

“While more consumers get used to paying through mobile and digital payment methods, FOMO Pay supports our merchants with easy, one-stop payment solutions that empower safe and secure payment collection services. This strategic partnership with Atome will allow merchant partners of all sizes to easily offer buy now pay later to their end consumers, one of the fastest growing payment methods globally, across both offline and online checkout experiences. Together with other payment methods powered by FOMO Pay, merchants would increase profit by meeting different payment needs of a wider range of customers.”

Trasy Lou Walsh, General Manager for Atome Singapore and Malaysia

Trasy Lou Walsh

Trasy Lou Walsh, General Manager for Atome Singapore and Malaysia said,

“We’re excited to partner with FOMO Pay to enable buy now pay later acceptance across thousands of online and offline checkouts in this region. Consumers today expect convenience, transparency and flexibility in their payment experience. This partnership will support businesses in enabling a fast, safe and seamless checkout experience that will accelerate business growth and sales.”

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Source: https://fintechnews.sg/50658/lending/atome-ties-up-with-fomo-pay-to-expand-bnpl-acceptance-across-asia/

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The Spanish fintech Pecunpay strengthens its position as a leader in the issuance of corporate programs

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The Spanish fintech Pecunpay strengthens its position as a leader in the issuance of corporate programs

The entity, regulated by the Bank of Spain (BdE), adds 7 payment method programs aimed at social benefits and managing corporate expenses.

After the end of the confinement, the consumption of payment methods, through physical cards and virtual cards of corporate programs issued by Pecunpay reached 8 million Euro per month.

The company will end 2021 with more than one and a half million cards issued, of which 300,000 belong to corporate programs.

Pecunpay issues cards under the VISA and Mastercard brands.

 

 The Spanish fintech Pecunpay, the trade name for the electronic money institution Pecunia Cards EDE, specialised in groundbreaking electronic money processing and payment solutions, consolidates its position as a leader in the issuance of payment method programs based on social benefits and corporate expense management.

Seven clients have put their trust in Pecunpay to issue their corporate programs through both physical and virtual debit cards. The latest program that has been launched is Coverflex, for the Portuguese market, which joins the rest of the programs, such as Cobee, Tickelia and Fuell.

Jaime Rentero, the Chief Commercial Officer of Pecunpay, explains the main reasons why clients of corporate programs decide to issue their corporate programs with Pecunpay. ‘We bring years of experience with this type of program, and we consider that our value offer is focused on the flexibility of our Banking Core, which we have been adapting to offer different rules, restrictions, parameterisations, etc.”

Some of the rules that Pecunpay’s platform allows to adjust in real time maximum daily or weekly amounts, limit payments by type of businesses, block payment methods on weekends or outside business hours, block the use of the card outside of identified geographical areas, etc.

In 2020, Pecunpay reached one million cards issued. In 2021, it will issue one and a half million, which places the company as the leading Spanish electronic money institution. 300,000 of these cards belong to corporate programs.

After the situation we have been through due to the COVID-19 confinement, where all these programs suffered a regression in consumption, the situation is returning to the path experienced before the pandemic, and 8 million Euro of monthly consumption have been reached.

The fintech has been very active during last year, where they have communicated their direct processing connection agreement with VISA, the launch of Xpays (Mobile Payment) for their payment method programs and the launch of the first virtual card issuance platform for marketing, loyalty and promotion agencies, inter alia.

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Source: https://www.fintechnews.org/the-spanish-fintech-pecunpay-strengthens-its-position-as-a-leader-in-the-issuance-of-corporate-programs/

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Community bank taps Neocova to ramp up data-driven insights

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The Bank of St. Elizabeth, has tapped technology provider Neocova to help it derive business insights from its data in a partnership announced Thursday that will help the $180 million community bank unify its data on a single platform to run atop the bank’s core technology. Like other community banks and credit unions, the St. […]

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Source: https://bankautomationnews.com/allposts/retail/community-bank-taps-neocova-to-ramp-up-data-driven-insights/

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5 Questions with Citizen Bank VP of Innovation RJ Sherman

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RJ Sherman, the chief innovation vice president at Citizens Bank, isn’t a believer in using technology for technology’s sake. Sometimes, he noted, older technology can be a better solution than trendy technology. Sherman spoke with Bank Automation News about the role automation plays at the Providence, R.I.-based bank, the emerging technology he’s most excited about, […]

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Source: https://bankautomationnews.com/allposts/cust-xper/5-questions-with-citizen-bank-vp-of-innovation-rj-sherman/

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Divvy Sells to Bill.com for $2.5 Billion

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Corporate expense management platform Divvy has agreed to sell to small business financial software provider Bill.com for $2.5 billion.

Adding Divvy’s technology to its platform expands Bill.com’s solution. The new capabilities will help the California-based company enable its 115,000 customers to automatically manage accounts payable, accounts receivable, and corporate card spend. Additionally, Divvy’s tools will offer businesses real-time insight into their B2B spending and provide them access to multiple payment solutions.

Combining the two companies also boosts Divvy’s capabilities. The Utah-based company will be able to offer its 7,500 small business customers automated payable, receivables, and workflow capabilities. “As we listened to our customers, we heard them ask for a comprehensive payments platform so that they don’t have to use multiple software systems to manage their finances,” said Divvy CEO and Co-Founder Blake Murray. “Today I’m proud that Divvy is joining Bill.com to bring the one-stop-shop platform that our customers and the market have been asking for.”

“Since founding Bill.com, I have been driven by the desire to build solutions that make a real difference for small and mid-sized businesses. Customers have been asking us to help them with their spend management, and I am excited that together with Divvy, we can deliver on that ask, furthering our vision to transform SMB financial operations. Our expanded platform will provide more automation and real-time information to SMBs, enabling them to make more informed decisions,” said Bill.com CEO and Founder René Lacerte. “We are excited to work with the talented Divvy team. We have a shared passion for helping SMBs succeed and both companies are driving our customers’ digital transformations. Together, we can further empower SMBs to transition quickly and easily.”

Today’s deal is expected to close by the end of September and is subject to regulatory approvals closing conditions.

Bill.com was founded in 2006 and went public in 2019. With a market capitalization of $12.33 billion, the company trades on the New York Stock Exchange under the ticker BILL.

Founded in 2016, Divvy has raised $418 million from investors including PayPal Ventures, Insight Partners, and New Enterprise Associates.


Photo by Maranda Vandergriff on Unsplash

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Source: https://finovate.com/divvy-sells-to-bill-com-for-2-5-billion/

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