Mastercard unveiled new products for currency testing and announced an alliance to support technology advancements in the supply chain.
Mastercard Develops Technology Solutions for Supply Chain, Empowers Banks With New Testing Platform
Mastercard and its partners N-Frnds, SGeBIZ, and Finastra, have formed an alliance with the support of the Asian Development Bank (ADB) to develop technology solutions that will deliver digital efficiency for supply chains across Asia. The solutions will increase wholesalers’ access to credit and completely digitalize marketing campaigns. In another news, Mastercard, unveiled a new Central Bank Digital Currencies (CBDCs) testing platform that will enable companies to assess and explore national digital currencies. The platform is completely customizable according to the needs and use cases of a particular region and country.
Visa PayPal Expand Partnership
Visa and PayPal are expanding their partnership further, which will enable PayPal to extend the Visa Direct payout services through PayPal and its Braintree, Hyperwallet, and iZettle product solutions. The companies will roll out the partnership program in the coming months, focusing on expanding reseller capabilities, new use cases, and enabling new markets worldwide.
Fiserv Gives “Buy Now Pay Later” in Installments To Customers
Payments solutions company, Fiserv, will enable customers to pay for their purchases with interest-free installment payments. This will reduce online shopping cart abandonment and increase overall ticket size for retailers. Consumers, on the other hand, can benefit from better budgeting for purchases.
Finance News: Fintech in Focus: Alexa Can Now Pay for Gas
Thunes Bags $60M in Series B
Fintech startup, Thunes, has closed its Series B funding round led by Helios Investment Partners. Other investors included Checkout.com, GGV Capital, and Future Shape. Thunes links together the mobile wallet providers, banks, technology companies and money transfer operators. The latest funding will fuel the company’s expansion and growth in Africa, Asia, and Latin America.
Melio Reached $144M in Total Funding After Series C
B2B digital payments company, Melio, announced that they had raised a total amount of $144 million since its inception. The company raised $80 million in its recent Series C funding round. The company said that the funding will enable them to “reach and support more US small businesses helping them keep cash longer with a smarter spend management solution that provides more visibility and control, which is critical. Now, more than ever”.
AvidXchange Beefs up Middle Market With New Program
Accounts payable (AP) and payment automation solution provider, AvidXchange, has launched a “Boost your Business Program” that will enable companies to automate their AP quickly and cost-effectively. This will ensure smooth transitioning of businesses to electronic invoicing and payments. The new program delivers a complete invoice-to-pay solution that replaces outdated, paper-heavy AP processes with automated invoice ingestion, approval workflows, and e-payments.
Comdata Brings a New Payment Product for Fleet Drivers
Payment innovation company, Comdata, added Comchek to its suite of digital payments. Comchek, a digital payment solution, will enable fleet drivers to make on-demand payments on behalf of the fleet. This will offer maximum flexibility and accessibility of funds to the operators.