Debit cards drive growth as contactless usage continues to rise and consumer spending recovers after the height of the pandemic. Card usage will keep growing as new spending habits developed during the pandemic will persist

Spending with payment cards rebounds quickly

Independent fund and investment manager WCM Investment Management has cut reconciliation time by two-thirds following a tripling of its assets under management (AUM) over the last three years, thanks to the use of Gresham’s Managed Services.

Ratio, a new kind of fintech platform that combines payments, predictive pricing, financing, and a frictionless quote to cash process into one platform for SaaS and technology companies, today emerged from stealth and announced raising $11M in venture funding and a $400M credit facility for customer financing. Led by a team of industry veterans, Ratio is rewriting the rulebook for SaaS pricing and financing, driving value for vendors by delivering a new set of tools to accelerate growth in the turbulent market.

Kyriba (“the Company”), a global leader of cloud-based finance and IT solutions, today announced the launch of Cash Management AI, a new solution based on Artificial Intelligence, which uses data science technologies to predict cash availability with increased speed, control and reliability. The new solution improves companies' cash management and forecasting capabilities.

Today, the Consumer Financial Protection Bureau (CFPB) published a report offering key insights on the Buy Now, Pay Later industry. The report, Buy Now, Pay Later: Market trends and consumer impacts, finds that the industry grew rapidly during the pandemic, but borrowers may receive uneven disclosures and protections. The five firms surveyed in the report originated 180 million loans totalling over $24 billion in 2021, a near tenfold increase from 2019.

PPRO merchants will soon have the ability to integrate buy now, pay later services from Australian provider Zip at the point of checkout.

Zip, which includes Zip Pay and Zip Money, becomes the first Australian BNPL method to be added to PPRO’s digital payments infrastructure and sits alongside other Australian local payment methods.

Majority, the mobile banking outfit for migrants in the US, has raised $30 million in Series B funding led by Valar Ventures.

The startup has also secured $7.5 million in debt financing from a US-based commercial bank as it seeks to expand its service to support the nearly 50 million immigrants in the country.

The Saudi Credit Bureau (SIMAH), a leader in credit bureau information management in the Middle East and North Africa (MENA), has administered the successful rollout and adoption of the FICO® Score by lenders in the country, enabling millions more Saudi customers to receive loans from banks. This growth in financial inclusion was made possible by SIMAH’s advocacy efforts with financial institutions and a parallel education campaign with consumers. 

Bright Data, the industry-leading web data platform, has today announced the acquisition of eCommerce insights provider Market Beyond. With this acquisition, Bright Data adds digital shelf analytics to its already comprehensive data offerings, introducing its new division – Bright Insights.

Deel, the leading global payroll and compliance solution, has today announced two major launches – Deel Shield and Deel API/the Deel Partner Program. Deel Shield offers businesses the most secure level of contractor compliance, allowing them to unlock global hiring with zero misclassification risks and liability. Deel API offers companies and developers worldwide the ability to supercharge and globalise their HR products with Deel’s industry-leading hiring software.