Mexico FinTech News
Santander plans an aggressive strategy to establish Openbank’s presence in Mexico, aiming for a significant market position
Santander plans an aggressive strategy to launch Openbank in Mexico during the second half of the year, aiming for quick customer acquisition. The digital bank, already successful in Europe and Argentina with over two million customers, will start with basic offerings, potentially offering higher savings rates and lower loan interest rates due to lower digital operation costs
FinTech PayJoy launches digital financial card for credit-invisible individuals in Mexico through Pomelo
PayJoy, a FinTech company, has partnered with Pomelo to introduce a groundbreaking initiative in Mexico aimed at providing financial services to individuals without a credit history. By leveraging PayJoy’s expertise in innovative financial solutions and Pomelo’s extensive reach in the Mexican market, this joint effort aims to empower underserved populations by granting them access to essential financial tools and services.
Latam FinTech Hub, 03/12/2024, Staff: FinTech PayJoy anuncia lanzamiento de tarjeta financiera digital para personas sin historial crediticio en México de la mano de Pomelo
Nubank seals alliance with FinTech Arcus / Soriana to launch cash deposit network for its Nu account in Mexico
Nubank has introduced a cash deposit network via Soriana stores for its Nu account, hoping to solve its cash-In problem and enhance cash-out. By leveraging Arcus’s extensive network and expertise in payment solutions, Nubank users will gain access to cash deposit locations in Soriana stores. It remains to see how this works in practice, and deposits are limited to a paltry P5,000.
Latam FinTech Hub, 03/12/2024, Staff: Nubank sella alianza con la FinTech Arcus para lanzar red de depósitos en efectivo para su cuenta Nu en México
Latam List, 03/13/2024, Juliane Butty: Solar Power Startup Niko raises $3.3M
El Economista, 03/15/2024, Sebastián Estrada: Regulación FinTech brindará certidumbre e impulsará colaboración
LatAm FinTech News
FinTech Guru Spoc has received authorization to operate in the Open Insurance market in Brazil
The financial technology company SPOC has recently been granted authorization to operate within the realm of open insurance in Brazil. This marks a significant milestone for the company as it expands its services into the insurance sector, leveraging its expertise in FinTech solutions.
Latam FinTech Hub, 03/15/2024, Staff FinTech Guru Spoc recibió autorización para operar en el ámbito de Open Insurance en Brasil
FinTech Wallib launches its first VISA debit card in Colombia and opens a waiting list for the first 1,000 users
FinTech Wallib has made a significant stride in the Colombian market by unveiling its premier VISA debit card, marking a milestone in its journey to offer innovative financial solutions. Latam FinTech Hub, 03/13/24, Staff: FinTech Wallib anuncia lanzamiento de su primera tarjeta débito VISA y abre lista de espera para los primeros 1.000 usuarios en Colombia
Other news
Latam FinTech Hub, 03/15/2024, Valentina Moreno Arévalo : Mosphere Bogota: A milestone in the FinTech ecosystem
LatamList, 03/12/2024, Araceli Domínguez: Sostengo raises $3.8M seed round
Global FinTech News
Stripe’s Strategic Patience: Growth and Valuation in a Volatile Market
Stripe, now valued at $65 billion, shows no urgency to go public after hitting $1tn in payment processing in 2023 and achieving positive cash flow. Despite a valuation fluctuation, the company focuses on profitability and private market growth, offering stock sales to provide liquidity for employees and early investors, and continues to expand its payment and financial tools services. The company published its much-anticipated annual co-CEO letter in which it disclosed dual milestones of $1tn in payment volume and being cash flow positive in 2023.
Estancia Capital Partners invests £108m in UK cash deposit platform Flagstone
UK FinTech Flagstone secures £108 million investment from Estancia Capital Partners, one of the largest in the UK FinTech sector this year. The investment includes both primary and secondary funding.
FinTech Futures, 03/12/2024, Tyler Pathe: UK cash deposit platform Flagstone lands £108m investment from Estancia Capital Partners
Mastercard tests Smart Subscriptions in the US using open banking.
Mastercard introduces Smart Subscriptions, utilizing open banking technology from its subsidiary Finicity and Subscriptions Control feature. This offering allows consumers to manage subscriptions easily and efficiently through a single platform, reducing chargebacks and providing insights into financial wellness. The company plans to expand this solution to more markets later this year. FinTech Futures, 03/14/2024, Tyler Pathe: Mastercard pilots new Smart Subscriptions feature in the US powered by open banking
Other news
FinTech Futures, 03/11/2024, Tyler Pathe: US Federal Reserve “nowhere near recommending, let alone adopting” a CBDC, chairman tells Congress
TechCrunch, 03/06/24, Tage Kene-Okafor: Nigerian FinTech Zone raises $8.5M seed to scale its decentralized payment infrastructure
FinTech Futures, 03/18/2024, Tyler Pathe: JP Morgan Chase hit with $348m in fines related to its trade surveillance programme