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Payright partners with payments provider Mint Payments

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Payright partners with payments provider Mint Payments

Australian-based buy now pay later (BNPL) provider specialising in higher-value purchases, Payright Limited (ASX: PYR) (‘Payright’  or ‘the Company’), has entered into a partnership with Mint Payments Limited (‘Mint Payments’) to integrate Payright’s BNPL  solution into its online payments processing system.  

Under the agreement, Mint Payment’s 7,000+ merchants will have access to Payright’s BNPL solution for eCommerce and in store  transactions. The partnership will present opportunities for Payright to partner with accredited Mint Payment merchants who will be  able to switch on Payright’s solution in the merchant platform.  

Mint Payments is an Australian fintech specialising in a wide range of end-to-end payment solutions for business across Australia,  New Zealand and Singapore, and its merchants include well-known brands such as Nutrimetics, Tupperware, Fuji Film, Nestle,  Helloworld and Jim’s Financial Services. It enables organisations and businesses of all sizes to accept, process and manage payments online and through various EFTPOS, mPOS, mobile and tablet devices, aligning with Payright’s strategy to build out its payment ecosystem. 

Co-CEO Piers Redward said: “Our partnership with Mint Payments will play an important role in the evolution of our payment  ecosystem. Mint Payment services a reputable and extensive network of more than 7,000 merchants across travel and  accommodation, online retail and hospitality, trade and professional services, making it a strategic fit for our BNPL product tailored  to higher-value purchases.”  

Co-CEO, Myles Redward, added: “The Mint Payments integration represents a significant opportunity for Payright to partner with  several thousand new merchants across our key target verticals. We look forward to working with Mint Payments and extending  our footprint via its merchants to drive further value for our shareholders.” 

Co-Founder and Group CEO of Mint Payments, Alex Teoh, said: “We are always looking to improve the way our merchants are able  to transact online, and the addition of Payright’s BNPL solution allows us to elevate the flexibility available for their customers and  suppliers through our online payments system. BNPL continues to rise in popularity as a payment method and Payright’s seamless  user experience and focus on bigger ticket items made it an attractive partner for our business. Together with Payright, we look  forward to continuing to make e-commerce less complicated for Australian consumers.”

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Source: https://www.fintechnews.org/payright-partners-with-payments-provider-mint-payments/

Crowdfunding

Credit Suisse backed SME Lending Fintech Tradeplus24 Finalizes $25M Raise led by European Family Office

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Credit Suisse-backed SME lending Fintech Tradeplus24 has finalized an “oversubscribed” $25 million pre-series B equity raise, which was led by a European family office with an established track record of investing in “high-growth” startups like Klarna, Delivery Hero, and Lyft.

Existing investors Credit Suisse, SIX Group, and Berliner Volksbank also took part in TradePlus24‘s latest investment round, which complements more than $200 million in total debt facilities secured across the group and which the group “plans to increase to $400 million by the end of 2021.”

As stated in a release:

“The capital injection will be used to fund rapid expansion of Tradeplus24’s Australian and European operations, including launching into the UK and the Netherlands later this year, and potential strategic acquisitions planned for later in 2021.”

Tradeplus24 was, at first, aiming for a $15 million equity round, however, significant investor confidence in its ability “to scale into multiple international markets and achieve rapid growth prompted the material increase to the round, which was also completed in just six weeks.”

The steady demand for Tradeplus24’s line of credit solution is “indicative of the global nature of the issue it solves,” according to the firm’s Australia MD, Adam Lane.

Lane remarked:

“There is nowhere in the world where the issues around efficient access to working capital for SMEs have been adequately addressed at scale. This is especially true when it comes to loan amounts ranging between $500k to $10 million. So the enormous demand for our unique tech-enabled line of credit solution is unsurprising – particularly as the world still comes to terms with the new business landscape created in the wake of the pandemic.”

Lane also mentioned:

“On top of our global roll out, we have already been investing heavily in growing our Australian team, which has doubled in the last 4 months, and in our technology, including creating bespoke solutions for priority segments. These solutions are focused on leveraging data to manage risk more effectively and make our customers’ lives easier.”

He added that it’s well-known that incumbents in the invoice finance sector “suffer from legacy systems, slow and manual processes, and an acute lack of innovation which forces their customers to waste countless hours on unnecessary and frustrating administration.”

He also noted that they’re focused on offering an alternative that provides “much-needed support to growing Aussie businesses, whose growth prospects will be massively amplified through greater access to capital via the simple and user-friendly solution Tradeplus24 provides.”

Will Farrant, MD at Credit Suisse Australia noted that after the group’s equity investment in Tradeplus24, the Credit Suisse debt capital markets team in Australia “have stayed close to the local Tradeplus24 team and we are optimistic in our ability to support them with a debt facility in the coming months as they continue to scale the business.”

The fresh funds have been announced after an oversubscribed Series A of $173 million in debt and equity, which was finalized back in 2019. Those funds supported Tradeplus24 through “significant growth,” the announcement noted while adding that the Australian business “trebled customer numbers in Q2 2021, spurred by an improving economy and positive customer response to products.”

Tradeplus24’s global team also “doubled in size” this year and is now expected “to continue to consistently grow as new markets open up and become accessible due to the funding.”

Tradeplus24 is “anticipating” opening a Series B next year, where it will look into admitting a strategic local Australian investor “to complement its heavyweight international backers,” the update revealed.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://www.crowdfundinsider.com/2021/07/178421-credit-suisse-backed-sme-lending-fintech-tradeplus24-finalizes-25m-raise-led-by-european-family-office/

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Crowdfunding

Global Fintech GoCardless Appoints Alexandra Chiaramonti as its GM for Southern Europe

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GoCardless, a global Fintech in account-to-account payments, has reportedly appointed Alexandra Chiaramonti as its GM of Southern Europe.

Chiaramonti will be responsible for leading GoCardless‘ ongoing growth in the region by continuing to recruit new talent in order to strengthen the firm’s presence in its existing French market — where it has managed to triple its client base since establishing its Paris office back in 2018 — as well as leading its expansion efforts within the region.

Chiaramonti has notably joined GoCardless after working as Chief Executive at GoBeep, a platform developed to support incremental in-store and online revenue for retail outlets. Before taking up this role, she served in key roles as Director of Global Sales Strategy at Criteo and MD  at Teemo. Her extensive experience in scaling and expanding companies globally should help with placing her in a key position to lead the firm’s growth efforts.

Chiaramonti remarked:

“I’m thrilled to join a rapidly growing company with an amazing team of talented people all focused on making a difference in the payments world. We have a top-notch product solving one of the biggest headaches for merchants: getting paid on time, in a fast and efficient way. Southern Europe represents a tremendous opportunity for GoCardless and I want us to seize it as soon as possible, becoming the go-to provider when businesses look for a best-in-class payment solution.”

Chiaramonti’s appointment has been announced at a time of broader company-wide expansion for GoCardless, which is focused on its Open Banking strategy.

By bringing together Open Banking payments with its international bank debit network, GoCardless believes it is in an ideal position to assist firms with collecting one-off and recurring payments via a single platform — providing merchants with a quick, dependable and more affordable alternative to cards by leveraging the power of account-to-account payments.

Even Walser, Chief Revenue Officer at GoCardless, remarked:

“We are opening up significant new market segments with open banking, including B2C subscriptions, which will further strengthen our growth in the region. Now is the time to bring in a leader who can help us scale the organization in this market and Alexandra is the perfect fit.”

Earlier this month, GoCardless teamed up with Pennylane, a financial management and accounting platform for firms and their accountants.

Through the partnership, the companies will provide SMEs and early-stage ventures with an easy and intuitive way to manage and collect recurring payments. The collaboration will involve combining Pennylane’s subscription management functionality, allowing companies to automate the issuance of recurring invoices and accounting, with GoCardless’ international bank debit network, enabling them to automatically debit clients when payments are due.

This means small businesses and other startups need not rely on inefficient manual processes, like having to maintain a log, to remind them when to send out invoices. This approach should ensure invoices are being sent in a timely manner, thus helping to remove barriers that tend to slow down the payment cycle. This new approach also removes the need to duplicate and update invoices.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/178428-global-fintech-gocardless-appoints-alexandra-chiaramonti-as-its-gm-for-southern-europe/

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Blockchain

The Future of Blockchain Gaming

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blockchain gaming

Blockchain is a fundamental aspect of the future of financial technology. The incorruptible ledger system is gaining attention beyond the realm of cryptocurrency discussions. Though fundamental for hosting a decentralized banking system, blockchain can also be used by developers looking to incorporate detailed public records.

Unsurprisingly, some of blockchain’s most lucrative and popular iterations involve gaming. Though typically associated with Bitcoin and Ethereum, blockchain is now the backbone of the NFT trade. One of its key applications is in creating digital assets and facilitating their trade and collection.

Reuters’ latest report on the first half of 2021 tallied the global NFT market worth to be $2.5 billion—that’s up from $13.7 million in the first half of 2020. Now that NFTs have entered the market, more companies are looking to expand blockchain gaming enterprises.

Already, blockchain has been used to track in-game items, such as weapons, skins, and experience points. That way, these assets can’t be hacked and altered. Currently, most of these assets only have value in the game but could one day be bought and sold in an external marketplace like an NFT.

Another realm set for a blockchain overhaul is online gaming. PR News Wire reports that the market will reach a worth of over $72 billion by the end of the year. With big money and a growing incentive based on public demand, blockchain looks likely to become a standard feature among online gambling promotions from various sites in the future.

In addition to interest from gamers, casinos themselves would benefit from blockchain. Gaming companies are required to provide detailed reports to local regulatory and financial authorities. An incorruptible ledger would simplify this process, while also adding extra safeguards related to sensitive information of users and companies alike.

Building on CryptoKitties Success

One of the biggest players in blockchain gaming is Dapper Labs. The NFT company has helped produce some of the most successful blockchain enterprises, including CryptoKitties and the NBA’s Top Shot NFT business.

Back in 2017, Dapper Labs was new to the scene. The premise of the online game is simple: users spend Ethereum to purchase NFT cartoon cats. Each cat is unique and can be bred with other characters to create new, unique cats.

What began as a cult hit amongst Ethereum holders transformed into solid proof that NFTs were the future of digital collectibles. One of the first major NFT sales came from CryptoKitties, when a user shelled out $170,000, leaving Dapper Labs to collect a small cut related to transaction fees.

In February of this year, Dapp Radar reports that CryptoKitties had raked in $1.2 million in transaction volume since the year began.

Credits: unsplash.com

Creating Organic Value from Blockchain

NFTs are sure to be a major player in the future of blockchain gaming. However, NFTs are largely collectible items; CryptoKitties require minimal attention from gamers—and not everyone found the experience of raising and breeding CryptoKitties to be enjoyable.

The value blockchain brings to gaming revolves around creating a micro-economy within the game itself. This economy is driven by player interest. In other words, the value of a skin or a weapon is based on demand from other users, not what game creators have assigned.

The future of blockchain gaming will rely heavily on this internal economy. However, the precise implications of these economies aren’t yet clear—will it provide more power amongst gamers to influence how and why the game is played? Will creators spend more time integrating collectibles into games, and at what point do they evolve from a standard NFT collectible?

For now, it’s likely video game developers will avoid blockchain. Not only are most studios conservative in approach, but recent concerns about blockchain’s environmental effects have stalled many groups’ interest in the technology.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.fintechnews.org/the-future-of-blockchain-gaming/

Continue Reading

Blockchain

The Future of Blockchain Gaming

Published

on

blockchain gaming

Blockchain is a fundamental aspect of the future of financial technology. The incorruptible ledger system is gaining attention beyond the realm of cryptocurrency discussions. Though fundamental for hosting a decentralized banking system, blockchain can also be used by developers looking to incorporate detailed public records.

Unsurprisingly, some of blockchain’s most lucrative and popular iterations involve gaming. Though typically associated with Bitcoin and Ethereum, blockchain is now the backbone of the NFT trade. One of its key applications is in creating digital assets and facilitating their trade and collection.

Reuters’ latest report on the first half of 2021 tallied the global NFT market worth to be $2.5 billion—that’s up from $13.7 million in the first half of 2020. Now that NFTs have entered the market, more companies are looking to expand blockchain gaming enterprises.

Already, blockchain has been used to track in-game items, such as weapons, skins, and experience points. That way, these assets can’t be hacked and altered. Currently, most of these assets only have value in the game but could one day be bought and sold in an external marketplace like an NFT.

Another realm set for a blockchain overhaul is online gaming. PR News Wire reports that the market will reach a worth of over $72 billion by the end of the year. With big money and a growing incentive based on public demand, blockchain looks likely to become a standard feature among online gambling promotions from various sites in the future.

In addition to interest from gamers, casinos themselves would benefit from blockchain. Gaming companies are required to provide detailed reports to local regulatory and financial authorities. An incorruptible ledger would simplify this process, while also adding extra safeguards related to sensitive information of users and companies alike.

Building on CryptoKitties Success

One of the biggest players in blockchain gaming is Dapper Labs. The NFT company has helped produce some of the most successful blockchain enterprises, including CryptoKitties and the NBA’s Top Shot NFT business.

Back in 2017, Dapper Labs was new to the scene. The premise of the online game is simple: users spend Ethereum to purchase NFT cartoon cats. Each cat is unique and can be bred with other characters to create new, unique cats.

What began as a cult hit amongst Ethereum holders transformed into solid proof that NFTs were the future of digital collectibles. One of the first major NFT sales came from CryptoKitties, when a user shelled out $170,000, leaving Dapper Labs to collect a small cut related to transaction fees.

In February of this year, Dapp Radar reports that CryptoKitties had raked in $1.2 million in transaction volume since the year began.

Credits: unsplash.com

Creating Organic Value from Blockchain

NFTs are sure to be a major player in the future of blockchain gaming. However, NFTs are largely collectible items; CryptoKitties require minimal attention from gamers—and not everyone found the experience of raising and breeding CryptoKitties to be enjoyable.

The value blockchain brings to gaming revolves around creating a micro-economy within the game itself. This economy is driven by player interest. In other words, the value of a skin or a weapon is based on demand from other users, not what game creators have assigned.

The future of blockchain gaming will rely heavily on this internal economy. However, the precise implications of these economies aren’t yet clear—will it provide more power amongst gamers to influence how and why the game is played? Will creators spend more time integrating collectibles into games, and at what point do they evolve from a standard NFT collectible?

For now, it’s likely video game developers will avoid blockchain. Not only are most studios conservative in approach, but recent concerns about blockchain’s environmental effects have stalled many groups’ interest in the technology.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.fintechnews.org/the-future-of-blockchain-gaming/

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