Today in FinTech: Smart Data; Logistics payments
In today’s FinTech news, Affirm said that their data analysis is a key component in knowing who is going to pay. Meanwhile, PayCargo helps land, sea and air logistics companies manage digital payments. In addition, Mastercard helps to open the bank startup scale.
Confirm: Smart Data provides Edge in BNPL Space
Buy Now, Pay Later (BNPL) company Affirm CFO Michael Linford said the data-driven underwriting process gives it an edge over other companies in the sector. Deep data analysis enables Affirm to evaluate transactions and assess factors such as time and other seemingly small details to determine risk, the company said in a chat with shareholders.
PayCargo raises $ 130 million for global expansion
The logistics payment company PayCargo uses the capital from its Series C financing round to promote its global expansion efforts across Asia, the Middle East and Latin America. Blackstone Growth was the only investor in the round. PayCargo helps companies facilitate and manage payments in the sea, air, truck and rail industries.
Paysend launches business solution to drive SMB payments
Paysend Business was introduced by the money transfer company Paysend to provide small to medium-sized businesses (SMEs) across the map end-to-end payments and other tools to facilitate growth and diversification. The new enterprise product enables small and medium-sized businesses to send, hold and receive digital payments in multiple currencies using countless payment gateways, including Apple Pay and Google Pay.
Cartlow raises $ 18 million in Series A for further KSA growth
Reverse logistics company Cartlow uses the fresh capital from its financing round to accelerate the expansion efforts in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE). The only supporter in the round was AlSulaiman Group. Headquartered in Dubai, Cartlow offers an end-to-end reverse logistics solution focusing on reCommerce solutions, transforming the previously owned industry ecosystem and eliminating unsustainable practices.
Mastercard launches Start Path Open Banking Global Initiative
Mastercard introduces an initiative to help open up bank startup scales, discover innovation opportunities and develop new customer experiences. The Start Path Open Banking global program is three months long and teaches companies about Mastercard’s open banking platforms through wholly owned subsidiaries Finicity and Aiia.
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NEW PYMNTS DATA: HOW TOOLS AND CONSUMER FINANCING COMPANIES CAN IMPROVE THE BILL PAYING EXPERIENCE
About: More than half of energy and consumer finance companies have the ability to process all monthly bill payments digitally. The kicker? Only 12% of them do. Digital Payments Edge, a PYMNTS and ACI Worldwide partnership, examined 207 billing and debt collection experts at these companies to find out why it is still elusive to go completely digital.
