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Department of Finance Canada launches consultations on open banking (BETAKIT)
The deadline to deliver feedback to the Advisory Committee is February 11.
Alibaba taps Kabbage to loan up to $150K to SMBs after it quietly acquired OpenSky to ramp in North America (TECHCRUNCH)
“We recognized an opportunity to give our customers a convenient financing solution that allows them to improve their cash flow at competitive rates, so they can have the cash they need to grow their businesses.”
Canadian Bankers Association calls for digital identification to bolster economy (BETAKIT)
At a luncheon in Toronto, CBA CEO Neil Parmenter called for the federal government to do away with paper-based, face-to-face identification methods in favour of a more technological system.
Square and Mastercard announce free new debit card for businesses (MOBILESYRUP)
40 percent of beta testers used the Square Card as their first business debit card.
Contabilizei raises $20 million to ease Brazilians’ tax pain
The funding was led by Point72 Ventures, the early-stage investment arm associated with hedge fund guru Steven Cohen’s Point72 Asset Management.
FinTech startup ScaleFactor raises $30 million Series B funding to empower small businesses and accelerate back office automation (TECHSTARTUPS)
The latest round was led by Bessemer Venture Partners, with participation from returning investors including Canaan, Broadhaven Ventures, Firebrand Ventures, and other angel investors.
Flutterwave in strategic partnership with Visa launches GetBarter App for local and international payments (VANGUARD)
Visa cardholders will be able to initiate payments within the app and make online and mobile payments by attaching their card details to their GetBarter app profile while non-card carriers can generate a virtual Visa card upon registration.
Fiserv to buy First Data in $22 billion stock deal (CNBC)
The merger underscores the general trend of consolidating different parts of the financial services ecosystem, providing a one-stop-shop to clients, and building more integrated services overall.
Momo, Vietnam’s top payment app, lands big Series C investment led by Warburg Pincus (TECHCRUNCH)
Momo started out offering digital payment via an e-wallet app. It has since expanded into utility bill payments and mobile top-up, as well as areas like movie tickets, airline flights and payment for goods and services at 100,000 payment points nationwide, including popular chains.
Authenteq raises $5 million for blockchain identity verification (VENTUREBEAT)
Authenteq, creator of the blockchain identity verification technology Trollteq, raised the funding from Draper Associates and Capital300.
Go-Jek buys FinTech startup Coins.ph for $72M ahead of Philippines expansion (TECHCRUNCH)
Coins.ph claims five million registered users in the Philippines, where it offers a mobile wallet that covers payments, phone top-up, bill payment, public transport rides and more. Post-deal the company will continue to run as usual, but while tapping into Go-Jek’s resources and experience.