Payoneer Inc. today announced it has completed a Series D financing round of $25 million. Susquehanna Growth Equity, LLC, a private equity firm focused on the financial services industry and an affiliate of Susquehanna International Group, LLP, led the investment, with participation from existing investors Carmel Ventures, Greylock IL and Vintage Venture Partners. Payoneer empowers cross-border commerce by providing a payment platform that connects thousands of companies with millions of professionals and small business owners from more than 200 countries. A profitable company with a four-year revenue CAGR of over 65%, Payoneer intends to continue its rapid growth by utilizing this new capital to accelerate its product roadmap, expand into new verticals and markets and increase sales and marketing investments, as well as enable the company to more actively pursue acquisitions.
Trustev has selected Datameer, the leader in Hadoop-based big data analytics, to help deliver insights from Trustev’s identity engine. Trustev uses real-time, online identity verification to prevent fraud in e-commerce transactions by focusing on validating the individual making the transaction, not just the payment method they’re using. The platform delivers individual, real-time decisions using multiple dynamic data sources — behavioral, transactional and social — instead of restrictive rules-based decisioning and profiling. In the 12 months since being founded, Trustev has been named Europe’s Top Technology Startup by the EU Commission and one of Forbes Magazine’s Hottest Global Startups.
A new regulator to oversee UK payment systems will be introduced by April 2015. The Financial Conduct Authority (FCA) has asked for views on the key issues facing the payments sector. The FCA’s ‘call for inputs’ will help shape the focus of the new regulator’s work. The largest payment systems are owned and managed by the big banks, but concerns have been raised that the sector lacks transparency and innovation. It also needs to be easier for challenger banks to access these systems and compete with the bigger players. The Banking Reform Act (2013) created a new independent regulator for payment systems as a subsidiary of the FCA. Initiatives include promoting competition, promoting innovation and ensuring that payment systems operate in the interests of their users.
eServGlobal mobile financial services will partner with MNepal Limited to offer a mobile financial service solution. eServGlobal and MNepal will offer a shared technology platform which can be accessed by all banks and financial institutions in the country to extend mobile financial services to their users. The service will operate as a common brand mobile financial service allowing multiple banks and financial institutions to join as members. The service will offer a comprehensive suite of mobile money services to users as well as extending to provide mobile-centric microfinance services such as loans, savings and insurance complemented by loyalty and segmentation features.
MasterCard operates in 48 of Africa’s 55 markets, thanks to expansion into seven new markets across Central and West Africa – Chad, Central African Republic, Guinea-Bissau, Liberia, Sierra Leone, Rwanda and The Gambia. The MasterCard acceptance network of ATMs and Point of Sale terminals has also increased significantly to reach more than 58,000 ATM locations and 438,000 POS terminals across Africa. The introduction of electronic payments to these markets is providing positive social and economic impact as companies get to conduct their businesses beyond the cash environment.
Mozido, a global leader in white-label, cloud-based mobile payment services, today announced that it acquired StickyStreet, a leading platform for creating, distributing and managing customer loyalty solutions for leading brands such as Toys-R-Us, Harley Davidson and Best Western, reaching millions of consumers in over 60 countries worldwide. Financial terms of the transaction were not disclosed. Prior to acquiring StickyStreet, Mozido had partnered with the company to deliver mobile consumer loyalty programs. Moving forward, StickyStreet’s growing customer base will benefit from joining Mozido’s global network of cloud-based mobile financial solutions.
VeriFone Mobile Money is pleased to announce that it has been selected by Teasy Mobile (“Teasy”) in Nigeria to widen mobile money services and make them more relevant to local needs. VeriFone Mobile Money will deploy its retail enablement solution integrating the mobile wallet, banking, and telecommunication provider networks with the point-of-sale (“POS”). Teasy will work closely with local industry players to roll out VeriFone contactless POS devices as part of the solution.
SecureBuy global payment fraud prevention created a new frictionless payment fraud solution for mobile and online card-not-present (CNP) payment processing, powered by technology from FICO, a leading predictive analytics and decision management software company. This new SecureBuy solution includes powerful, analytics-based fraud detection technology originally developed by FICO for credit and debit issuing banks. This technology is used in FICO® Falcon® Fraud Manager, the world’s leading fraud management solution that protects more than 2.5 billion payment cards worldwide. The new solution integrates FICO’s proven self-calibrating analytics and global intelligent profiling with SecureBuy’s powerful physical attribute authentication to create a new industry performance benchmark for frictionless payment authentication.
Opus Bank announced Scott Dickman as its Senior Managing Director, Commercial Business Banking – Arizona. Bringing to the role 36-years experience, Dickman is Opus’ first commercial banker in Arizona and is responsible for expanding Opus’ commercial client base in the Phoenix metropolitan region. He joins Opus Bank most recently from Comerica Bank where he served as Senior Vice President, Market President and Commercial Banking Leader in the Arizona market. From 2008 through 2012, Mr. Dickman served as SVP, Commercial Banking for Arizona Bank & Trust where he also was a member of the bank’s Senior Leadership Team and led the commercial business group, including Commercial Banking, Treasury Management, and Small Business.
Optimal Payments Plc. announces the launch of an all-new NETELLER® online payment processing service. Working through a federally-insured U.S. financial institution sponsor, Optimal Payments is bringing these services to the U.S. marketplace. The NETELLER service and Net+® Card in the U.S. leverage the wealth of experience that Optimal Payments brings to the payments processing markets. Consumers already use NETELLER and the Net+ Card outside of the U.S. to safely and conveniently pay and receive funds for products and services online.
New Media Insight Group, Inc. has introduced a mobile payment solution, CloudPay, that is providing an easy and cost-effective solution for retailers and consumers alike. CloudPay reduces merchant transaction fees by as much as 80% by accepting payments on any smartphone or WiFi-enabled device. This new payment innovation can save merchants tens of thousands of dollars every year.
Parking BOXX announced today their partnership with CreditCall. Parking BOXX will use CreditCall’s EMV-ready payment gateway in the Parking BOXX gated, multi-space, pay-by-phone, cashier and citation parking systems. The systems will be installed across North America with sites already live. CreditCall’s industry-leading card payment solutions are available across multiple channels, including-Multi-Space, Pay-on-Foot, Smartphone and web-based parking in the UK, USA and Canada. The company processes credit and debit card payments securely from unattended parking machines, as well as from phone-based and online parking reservation systems.