In today’s FinTech news, RapiPay bagged new funding to develop a digital financial landscape and banking app, and PayU introduced two new credit solutions for consumers in Romania.
Additionally, Citi — a longtime partner of SIMON Markets — signed on to invest an undisclosed amount in the FinTech’s further development of its end-to-end tools for financial professionals. Meanwhile, Mastercard is taking its consulting services to the next level with new offerings that meet at the cross-section of fast-changing technologies and consumer expectations.
FinTech PayU Rolls out Credit Payments in Romania
Amsterdam-based PayU is bringing customers in Romania two new installment credit options — buy now, pay later (BNPL) and SLICE IT. Bucharest-based eCommerce merchant eMAG is the first company to partner with PayU and offer shoppers the new payment options.
Initially being rolled out in beta mode to select eMag customers, PayU anticipates the payment options will be available to all of eMag’s shoppers before the end of 2022.
Citi Becomes Strategic Investor in SIMON Markets
Citi is furthering its partnership with FinTech SIMON Markets with an undisclosed investment to help the startup build out its end-to-end suite of digital tools for financial professionals navigating the markets.
Fabrice Hugon, managing director, head of Americas sales for solutions for financial intermediaries at Citi, said SIMON’s platform offers financial professionals a way to stay a few steps ahead of market volatility. As part of the investment deal, Hugon will be joining SIMON’s board of directors.
FinTech Firm RapiPay Raises $15M for Digital Banking Super App NYE
Indian FinTech startup RapiPay notched $15 million to further its move into digital banking and develop a digital banking super app called NYE.
RapiPay is planning to leverage technology to develop an app with banking and financial services that is easy to use as well as convenient. The company said will be the first app with the capabilities to handle more than one bank account at a time, all with just a single login.
Mastercard Payments Consulting Biz to Incorporate Crypto, Open Banking, ESG
Mastercard is building out its consulting service to include practices that address the fast-paced digital transformations taking place along with customers’ changing expectations. The new consulting services will be dedicated to open banking, open data, cryptocurrency and digital currencies, and environment, social and governance (ESG).
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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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