Today in FinTech: Marketa expands its global footprint
In today’s FinTech news, card issuer Marqeta is expanding its global footprint into Singapore, the Philippines and Thailand, while Chinese cross-border e-commerce payments startup PingPong is considering an initial public offering (IPO) for raise up to $1 billion at a $5 billion valuation. Additionally, Australian payment platform Till Payments is acquiring payment processor ZIPS.
Marqueta adds Singapore, the Philippines and Thailand to its global customer base
Card issuer Marqeta is expanding its reach to Singapore, the Philippines and Thailand, giving itself a presence in five Asia-Pacific (APAC) countries. The platform aims to enable its professional customers to build their businesses with the capabilities to launch anywhere in the world. The Marqeta platform initiates and manages corporate payment card programs and communicates with card networks and issuing banks. It also issues cards and authorizes transactions.
Payments firm PingPong eyes $1 billion IPO
Chinese FinTech unicorn PingPong, a payment processing startup for global cross-border e-commerce sellers, is eyeing an IPO in Korea to raise up to $1 billion at an estimated $5 billion valuation. PingPong is also considering a pre-IPO funding round of around $300 million.
Till Payments acquires payment processor ZIPS
Australian company Till Payments has acquired ZIPS, the payment processing unit of Ziosk, headquartered in Dallas, Texas, for an undisclosed amount. The agreement will accelerate Till’s expansion in North America. Under the agreement, ZIPS employees as well as its portfolio of vendors and referral partners will transfer to Till. The agreement will also extend and further develop a strategic relationship between Till and Ziosk.
Tanzanian payments fintech NALA raises $10m
Tanzanian cross-border payments platform NALA has landed $10m in a seed funding round to expand international money transfers between the UK and Africa. Over the past six months, NALA said more than 8,000 people have moved more than $10 million to African countries. NALA currently allows payments from the UK to Tanzania, Kenya, Uganda, Rwanda and Ghana. Expansion plans include a minimum of seven additional countries in Africa, including Nigeria.
The new FinTech Swell was born from the Elevate collaboration with Central Pacific Bank
Digital consumer credit company Elevate Credit is partnering with Central Pacific Bank to develop FinTech startup Swell, which will offer a consumer banking app with verification, credit and other financial services. Elevate is also backing Swell with undisclosed capital. In addition to offering new services with Swell, the collaboration with Elevate Credit will also help Central Pacific Bank expand across the United States.