In today’s FinTech news, card issuer Marqeta expands its global footprint into Singapore, the Philippines and Thailand, while Chinese eCommerce cross-border payments startup PingPong mulls an initial public offering (IPO) to raise as much as $1 billion at a $5 billion valuation. Plus, Australian payments platform Till Payments acquires payments processor ZIPS.
Marqeta Adds Singapore, Philippines, Thailand to Its Global Customer Base
Card issuer Marqeta is expanding its reach to Singapore, the Philippines and Thailand, giving itself a footprint in five Asia-Pacific (APAC) countries. The platform aims to enable its business customers to build their companies with the capabilities to launch anywhere in the world. The Marqeta platform launches and manages the companies’ payment card programs and communicates with card networks and issuing banks. It also issues cards and authorizes transactions.
Payments Firm PingPong Considers $1B IPO
Chinese FinTech unicorn PingPong, a payments processing startup for global cross-border eCommerce sellers, is weighing an IPO in Korea to raise as much as $1 billion at an estimated valuation of $5 billion. PingPong is also mulling a pre-IPO funding round of roughly $300 million.
Till Payments Acquires Payment Processor ZIPS
Australian firm Till Payments snapped up Dallas, Texas-headquartered Ziosk’s payment processing unit ZIPS for an undisclosed amount. The deal will step up Till’s expansion across North America. Under the agreement, ZIPS employees as well as its vendor and referral partner portfolio will be transferred to Till. The deal will also extend and further develop a strategic relationship between Till and Ziosk.
Tanzanian Payments FinTech NALA Raises $10M
Tanzanian cross-border payments platform NALA notched $10 million in a seed funding round to grow international money transfers between the U.K. and Africa. In the past six months, NALA said that over 8,000 people moved more than $10 million to African countries. NALA currently allows payments from the U.K. to Tanzania, Kenya, Uganda, Rwanda and Ghana. Expansion plans include a minimum of seven additional countries in Africa, including Nigeria.
New FinTech Swell Birthed From Elevate Collab With Central Pacific Bank
Digital consumer credit firm Elevate Credit is teaming up with Central Pacific Bank to develop the FinTech startup Swell, which will offer a consumer banking app with checking, credit and other financial services. Elevate is also backing Swell with undisclosed capital. In addition to offering new services with Swell, the collaboration with Elevate Credit will also help Central Pacific Bank expand across the U.S.
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NEW PYMNTS DATA: 70% OF BNPL USERS WOULD USE BANK INSTALLMENT OPTIONS, IF AVAILABLE
About: Seventy percent of BNPL users say they’d rather use installment plans offered by their banks — if only they were made available. PYMNTS’ Banking On Buy Now, Pay Later: Installment Payments And FIs’ Untapped Opportunity, surveyed more than 2,200 U.S. consumers to better understand how consumers view banks as BNPL providers in a sea of BNPL pure-plays.
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