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    Making headlines: GPS customers and partners – April 2021

     

     

     

    As the trusted and proven Paytech Pioneer™ uniquely focused on supporting the growth journeys of our customers, nothing gets us more excited than when we see our partners and customers dominating the fintech news agenda. That is why each month we update our ‘Making Headlines’ blog series.

     

    The trophy cabinet

    Best in the business 

    We’ve got a special announcement this month, we’re incredibly proud to announce we were crowned with the award of Best Processing Programme at The Card & Payments Awards!  

     

    We couldn’t have achieved this without you, our amazing colleagues, customers and partners around the world, who’ve helped our continued growth and success. We’re continuing our global expansion in 2021 and can’t wait to share this journey with you.  

     

    Also bolstering their trophy cabinets at The Card & Payments Awards were our customers & partners - Currensea who won Best Initiative in Open Banking and Modulr who scooped the accolade of Best Initiative from an SME. Congratulations to you both!

     

     

    Money talks

    Paidy pulls in multi-million dollar investment 

    At the start of April, our Japanese Buy Now, Pay Later (BNPL) customer, Paidy, announced it had raised an incredible US$120 million in a Series D funding round. Paidy stated that this latest funding round will be used to expand transactions with larger merchants, develop new services, and support the popularity of its ‘3-pay’ service. Paidy is used by over 5 million customers and 700,000 companies in Japan, making it a major player for payments in the country.

     

    Zilch secures US$80 million injection

    Zilch, the London-based startup redefining the Buy Now, Pay Later (BNPL) industry and the only fintech of its type to hold a full license from the FCA, has recently announced that it has successfully raised an all-equity Series B funding round of US$80 million. This funding sees the company’s valuation skyrocket to over US$500 million, with the investment set to fuel Zilch’s growth both in the UK and globally.

     

    Unicorn Starling secures £50 million as it prepares to IPO

    The third investment story this month comes from UK digital bank, Starling, which announced it had received a £50 million investment from Goldman Sachs. The newly minted fintech unicorn said that it would treat this investment as an ‘extension’ of March’s £272 million funding round which pushed the company’s valuation over £1 billion. The investment is intended to support the company as it prepares to go public.

     

     

    Scaling up

    Revolut expands into India

    Next, we have Revolut, who recently announced that it was planning to expand its operations into India by 2022 and will be investing approximately US$25 million into the country over the next five years. Paroma Chatterjee, a former executive for Indian start-ups Flipkart, Via.com and Lendingkart, has been brought in as Chief Executive Officer and there are plans to hire over 300 employees at the firm. Stay tuned!

     

     

    Stronger relationships

    Our Mastercard partnership in Asia Pacific takes payments to the next level

    We are thrilled to announce that we have joined Mastercard’s Digital First programme in Asia Pacific which maximises the safety, security and convenience of e-commerce, online banking and contactless transactions by providing the guidelines for payment processors, fintechs, issuing banks and other partners to create end-to-end digital payment options at scale. The card scheme already has a number of Digital First products that are quickly becoming the standard in the region with customers such as WeLab Bank in Hong Kong and GrabPay in Singapore.

     

    Osper partners with Nickelodeon to create character debit cards for kids

    It is important to educate the next generation about financial services and that is why youth-focused fintechs like Osper are so vital. As a part of the company’s latest initiative to tackle financial exclusion amongst youths, it has partnered with ViacomCBS, owner of children’s broadcasting network Nickelodeon, to release several branded debit cards. These cards will have popular Nickelodeon characters featured on them, including Spongebob SquarePants and the Teenage Mutant Ninja Turtles. In addition, the two companies will be working together on a range of co-branded financial education assets for UK children that will be promoted across Nickelodeon TV and digital platforms.

     

     

    Cryptocurrency news

     

    Ziglu launched account that pays interest on Bitcoin

    Cryptocurrency is becoming increasingly accessible to consumers and this is largely thanks to the work of fintechs. Ziglu has now made Tez (XTZ) – the native digital coin of blockchain network Tezos – available to the Ziglu community and has launched Bitcoin Boost, an interest-bearing account for bitcoin with 5% annual interest, one of the largest rates for a cryptocurrency currently available. It is one of the first three companies in the UK to be registered by the FCA as a crypto-asset firm and hopes that it can play a pivotal role in opening up access to cryptocurrencies for its customers in a safe, simple and affordable manner.

     

     

    Green finance

     

    Paynetics and ekko join forces to fight climate change

    Paynetics, an e-money institution, recently announced that it would be powering ekko, the climate change-focused payments app, with transactions processed by GPS. The app is designed to help fight climate change and encourage its users to make a difference without the need to make any changes to their spending habits. Every five transactions a customer makes will pay for one plastic bottle to be collected before it enters our oceans and every 50 transactions will pay for a tree to be planted.

     

    Razer aims for 100% renewable energy by 2025

    Another green initiative from a GPS customer this month comes from Singapore-based gaming giant Razer. The Razer Green Fund is a $50 million fund which supports and invests in environmental and sustainability start-ups and is just the beginning of the company’s 10-year plan to preserve nature and protect the environment, including using 100% renewable energy by 2025 and achieving 100% carbon neutrality by 2030.

     

    Paysafe hits carbon neutral company status 

    Following extensive data gathering and independent third-party verification, Paysafe recently announced it has achieved carbon neutral company status. The company has also committed to three sustainability projects, including water filtration and improved cookstoves in Guatemala, community re-forestation in East Africa, and renewable energy development through wind power in West India.

     

    Currensea kicks off an ocean clean up

    On the theme of climate change and restoration, GPS customer Currensea is helping users clean up the oceans as they spend. Joining forces with Plastic Bank, the fintech announced a new initiative where with every £1 spent abroad, 100 plastic bottles will be removed from the ocean. As well as helping their customers remove plastic from the oceans, Currensea is also planning to remove two-and-a-half times the amount of plastic it produces every year from the world’s oceans too.

     

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