AlpaCard launches new cyrpto debit card

UAE Fintech startup AlphaCard is to launch a new crypto debit card, linked to a cryptocurrency wallat, that is aimed at the unserved and underbanked. The idea is to take cryptocurrencies mainstream by offering a prepaid card that allows users to spend their digital money at any Visa point of sale (POS) terminal. It is … Read more

Kontempo raises $30m in seed round

Kontempo has raised $30m in a seed round. The money will go towards expaning its BNPL solution for B2B transactions in Latin America. Kontempo CEO and co-founder Matthew Meehan said: “Kontempo sees an opportunity with its BNPL product to increase the use of digital payments in the B2B space, boost sales for both online and offline distributors and … Read more

Global players expanding prepaid card solutions in Mexico

The Mexian prepaid card market is expected to increase from US$19.57bn in 2022 to reach US$33.80bn by 2026. The report, from Research and Markets, shows that the emergence of innovative prepaid card solutions has accelerated the growth of the prepaid card market in Mexico. With a rising fintech industry coupled with a large unbanked population, … Read more

Seamless goes public via SPAC

Fintech Seamless, geared towards the unbanked in South East Asia, is going public via a SPAC vehicle called INFINT Acquisition. The valuation is around $400m. Seamless helps the unbanked and migrant workers in South East Asia. One of the Seamless solutions umbrella is Tranglo. It’s a cross-border payment hubs that provides smart services not only … Read more

Weekly economic update: Markets Unmoved by BOE Gloom

By Rupert Thompson, Investment Strategist at Kingswood Equity markets saw further modest gains last week, continuing the recovery underway since mid-June. Global equities are now up some 10% from their low in local currency terms and 11% in sterling terms. The rally has been led by US equities. They have benefited from the recovery in … Read more

BNPL user numbers to climb dramatically

The number of Buy Now Pay Later (BNPL) users will surpass 900 million globally by 2027, up from 360 million in 2022. So says a new study from Juniper Research. This substantial growth of 157% will be driven by the anticipated economic downturn, which will increase the demand for low-cost credit solutions. BNPL schemes enable … Read more

Nolt wins operating license from Central Bank of Nigeria

Nolt Finance has been granted an operating licence from the Central Bank of Nigeria to aid financial inclusion in the country. It will now deliver financial services including investments and loans to SMEs and individuals. Nolt Finance is a disruptor in the social impact banking space. Nolt CEO Babatunde Dada said: “The CBN license gives … Read more

KMS launches Kaypay, a BNPL commerce platform

KMS has launched Kaypay for Vietnamese users from August 2022. Kaypay is an application that combines a social commerce platform with a pay-later payment method. KMS is a global software company committed to implementing a transparent buy now, pay later service and bringing authentic products to its end users. Kaypay is a no-service-fee for users … Read more

NIPOST targets 38 million unbanked Nigerians via payment firms

The Nigerian Postal Service (NIPOST) has signed a deal with eGate and Visa to facilitate digital financial services to target around 38 million unbanked adult Nigerians.  This includes the issuing of payment cards and the support of financial inclusion across Nigeria. The Postmaster General/CEO of the Nigerian Postal Service (NIPOST), Dr Ismail Adebayo Adewusi, told … Read more

Investment firm Antler targets Lisbon and Madrid

Norwegian VC firm Antler has come over all Iberian, opening offices in Lisbon and Madrid. Spearheading the expansion are Sérgio Massano, partner and director of expansion, and Ricardo Batista, director. Media reports suggest that the firm is looking to make 30 investments in Iberia by next year. Massano said: “Antler’s model is distinctive because we … Read more

OneLoads loads up with $11m

OneLoad, which targets micro-retailers in Pakistan, has raised $11m. The round was led by Sarmayacar and Shorooq Partners, and included Bill & Melinda Gates Foundation’s Strategic Investment Fund, making its first investment in Pakistan. The money will be used to fund its growth as it works on helping the world’s third largest unbanked population. It’s … Read more