CardFlight Teams Up with Paya to Bring EMV-Ready mPOS Solutions to Merchants

CardFlight Teams Up with Paya to Bring EMV-Ready mPOS Solutions to Merchants
By David Penn Posted on
Categories: CardFlight

Mobile POS and SaaS payment solutions provider CardFlight announced a new partnership with payment technology company Paya today. The agreement will enable Paya to offer CardFlight’s SwipeSimple payment acceptance solutions to its merchants.

Paya President Greg Cohen called SwipeSimple a “perfect fit” for its own payment services. “This collaboration allows us to offer our customers an advanced, secure mobile payment solution that helps answer many of their everyday business needs,” Cohen said. Paya has more than 100,000 clients who rely on the Reston, Virginia-based company’s adaptive solutions and two decades of experience in payments technology.

“Paya is one of the leading merchant service providers in the United States because of their commitment to arming their merchants with quality solutions and service,” CardFlight CEO Derek Webster added. “As the leader in EMV enabled card readers and payment acceptance solutions, CardFlight is happy to collaborate with Paya and provide SwipeSimple to their merchants.”

SwipeSimple enables merchant service providers, FIs, and independent sales organizations to offer their business customers a turnkey, EMV-ready mPOS solution. With CardFlight’s platform, Paya’s small business customers will get access to Bluetooth Low Energy or audio jack EMV Quick Chip, NFC contactless-enabled card readers; mobile and web apps to accept payments in-store or remotely; a back office merchant portal for business management and reporting; and a virtual terminal to enable merchants to accept CNP transactions using any device.

Founded in 2013 and headquartered in New York City, CardFlight demonstrated its mobile payment acceptance technology at FinovateSpring 2013. With 15 of the top 50 merchant acquirers in the U.S. among its partners, CardFlight has more than 40,000 small business end user customers, including merchants in all 50 states. This spring, the company introduced countertop payment terminals for small businesses, and announced that more than 80% of its SwipeSimple merchants had been upgraded to EMV quick chip payment acceptance.

CardFlight has raised $6.6 million in funding and includes MATH Venture Partners and ff Venture Capital among its investors.

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Figo Joins Partnership to Build Fintech Acceleration Platform

Figo Joins Partnership to Build Fintech Acceleration Platform
By David Penn Posted on
Categories: Figo

Deutsche Börse and its post-trade services provider Clearstream will partner with Germany’s figo and Luxembourg-based regtech start-up Finologee to create a fintech acceleration platform, reports Antony Peyton of Fintech Futures, Finovate’s sister publication.

The new platform will enable established players and new digital firms to distribute and use each other’s services to ideally make more money.

It will allow access to Deutsche Börse’s market and reference data as well as functional services via APIs.

Marc Robert-Nicoud, CEO of Clearstream, said it brings together the “know-how and innovation capacity of an established market infrastructure with the innovative models and flexibility of strong fintech start-ups” and “can contribute immensely to developing new interaction, collaboration and monetization models”.

The first services offered by third parties will be an access to account gateway for banks for the second Payment Services Directive (PSD2).

Deutsche Börse has been cooperating with banking services provider figo since 2016.

The new partnership with Finologee is targeted to serve particularly the Luxembourg market with the “first end-to-end PSD2-compliant payment solution”. In addition, Finologee will contribute to the architecture and development of the platform software layers as well as further partnerships.

Clearstream contributes its IT infrastructure design and regulatory compliant operations, as well as several software components to run the API marketplace for Deutsche Börse.

First deployments on the platform are currently being evaluated. Among them are a number of offerings, including Budget Insight, IDnow, AriadNEXT, Governance.com, Jemmic, and KYCTech.

The platform is in the pilot phase and will be first offered as a development environment to allow testing and coding.

Further applications at this piloting stage will be Finologee’s identification and consent automation product.

Figo expands the portfolio with its PSD2-related RegShield for non-banks and PSD2 enabler for banks as well as several Clearstream and Deutsche Börse services.

The launch is targeted for the fourth quarter of 2018, subject to regulatory approval.

Founded in 2012 and headquartered in Munich, Germany, figo demonstrated its banking and payments API at FinovateEurope 2013. figo has raised more than $11 million (€10.1 million) in funding. Andre Bajorat is co-founder and CEO.

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Finovate Alumni News

By David Penn Posted on
Categories: CardFlight, Coinbase, Currency Cloud, Gro Solutions, IdentityMind Global, Insuritas, Optimove, Thomson Reuters

On Finovate.com

  • Optimove Acquires PowerInbox’s DynamicMail Business.
  • CardFlight Teams Up with Paya to Bring EMV-Ready Payment Solutions to Merchants.
  • Coinbase Unveils Institutional Grade Solutions for Cryptocurrency Trading.

Around the web

  • Currencycloud and Cashplus partner to help SMEs save on international payments.
  • New risk screening feature from Thomson Reuters filters unstructured data to help FIs fight financial crime.
  • IdentityMind Global to help decentralized private social media platform, ONe Network, meet KYC and AML compliance requirements.
  • Honor Credit Union ($850 million in assets) to launch member-owned, digital insurance agency courtesy of new partnership with Insuritas.
  • Consumers Credit Union ($968 million in assets) credits boost in deposit account openings to December deployment of digital sales platform from Gro Solutions.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

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OurCrowd Surpasses $1 Billion AUM

OurCrowd Surpasses $1 Billion AUM
By Julie Muhn (@julieschicktanz) Posted on
Categories: OurCrowd

Equity crowdfunding platform OurCrowd recently reached a major milestone. The Israel-based company has surpassed $1 billion in assets under management.

OurCrowd is currently backing 150 startups across the globe and has previously helped 20 startups successfully exit from funding since its launch in 2013. One of OurCrowd’s most notable investments is Hyperloop, which it backed before Virgin Group invested in the company last year.

OurCrowd founder Jon Medved told The Australian Financial Review during an interview that the company is “a hybrid between equity crowdfunding and venture capital.” Medved added, “With the most valuable companies in the world like Uber staying private for much longer, we’re democratizing early access to them. The minimums on venture capital funds are still $3 million to $5 million, which is out of reach of almost everybody.”

OurCrowd selects 1 to 2 percent of the 3,000 companies that apply for funding, negotiates the terms of the deal, and invites the investor community to invest at the same terms. The company requires a minimum investment of $10,000. This may be one factor that enticed the 25,000 registered investors on its platform, since traditional VC investing is typically out of reach. OurCrowd has vetted 8,500 companies and its clients represent 112 countries.

At FinovateSpring 2016, the company debuted the OurCrowd mobile app. Last October, the company opened an office in Spain and in March launched a location in the U.K. OurCrowd now has offices in seven countries– Israel, the U.S., Canada, Australia, Singapore, Spain, and the U.K. The company has raised $700 million.

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Following #Finovate at FinovateSpring

Following #Finovate at FinovateSpring
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2018

After four days of fintech content at FinovateSpring last week, there was a lot to Tweet about but our audience was up to the task. We’ve captured their thoughts on everything from the demos to the food.

So if you missed out, check out the conversation below.

About the demos

Going for the gong

Talking about the tunes

Food for thought

 

 

 

 

 

 

 

 

 

 

 

 

Lots of love

Discussion days

Thanks to everyone for Tweeting and tagging your thoughts #Finovate! We’ll see you at FinovateFall on September 24 through 26 in New York.

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New Initiative from Ripple to Support Startups Using XRP, XRP Ledger

New Initiative from Ripple to Support Startups Using XRP, XRP Ledger
By David Penn Posted on
Categories: Ripple

Ripple has a spring in its step with the launch of Xpring (pronounced “spring”) to invest in, incubate, acquire and provide grants to companies and projects, reports Antony Peyton of Fintech Futures, Finovate’s sister publication.

Self-promotion is naturally part of its logic, as “every entrepreneur” will use Ripple’s digital asset XRP and the XRP Ledger, the open-source, decentralized technology behind XRP, to solve their customers’ problems.

Ripple said it wants to act as a “proverbial spring” to let people “grow their businesses and prosper”.

Ethan Beard will be SVP and lead Xpring and Ripple’s developer programme. Before moving into an advisor role at several technology companies, Beard served as director of the Facebook Developer Network from 2009-2012.

“Blockchain and digital assets have the ability to solve important problems and XRP – with its speed, scalability and demonstrated real-world use case – is a great tool for start-ups and entrepreneurs to build businesses around,” Beard said.

According to Ripple, Xpring has already offered support. People and firms include:

  • Stefan Thomas, inventor of the Interledger Protocol (ILP), creator of BitcoinJS, co-founder of TxtBear, who just launched a new venture Coil to use XRP and ILP for various micropayments applications;
  • Bart and Brad Stephens, co-founders of Blockchain Capital, who have the first fund to accept capital calls in digital assets.

In a separate development, Mitsubishi Corporation, MUFG Bank, Bank of Ayudhya (Krungsri), a Thailand-based subsidiary of MUFG, and Standard Chartered have started a pilot test for moving real funds over RippleNet, Ripple’s network.

Founded in 2012 and headquartered in San Francisco, Ripple made its Finovate debut (as OpenCoin) at FinovateSpring 2013. The company has raised more than $93 million in funding and includes SBI Investment, Santander InnoVentures, IDG Capital Partners, and Core Innovation Partners among its investors. Brad Garlinghouse is CEO.

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Finovate Alumni News

By David Penn Posted on
Categories: Cloud Lending Solutions, Finastra, LendingTree, OurCrowd, Socure, Spreedly, Tyro, WorldPay

On Finovate.com

Around the web

  • Business-only Australian bank Tyro forges partnerships to improve connectivity between POS, apps, and merchants.
  • Finastra appoints Elona Ruka-Wright as its new Chief Risk Officer.
  • Australian FinTech Study Loans partners with Cloud Lending Solutions to build new student loan offering.
  • LendingTree to acquire Ovation Credit Services for total consideration of $20.75 million.
  • Socure secures three new ISO certifications for privacy and security controls.
  • Spreedly to integrate Worldpay’s international payment processing API courtesy of new partnership.
  • Hypepotamous profiles South African authentication specialist Entersekt.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Welcome to Day Four of FinovateSpring

Welcome to Day Four of FinovateSpring
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2018

After our first content-packed discussion day at FinovateSpring, we’re ready for round two!

Today’s discussion begins at 9 AM at the Santa Clara Convention Center and you won’t want to be late because we’re kicking things off with a keynote presentation from Adam Cheyer, co-founder and VP of engineering at Siri and Viv Labs. And that’s just the start– there’s plenty more in store. Check out the full agenda on our website or see the highlights below:

8 AM to 9 AM Registration and Continental Breakfast

9:00 Opening Remarks

9:05 to 9:45 Keynote Address: The rise of Natural Language Processing (NLP), smart speakers (Alexa), and a future with far less screen time

  • Adam Cheyer, co-founder and VP of engineering at Siri and Viv Labs

9:45 to 10:05 Fireside Chat: How to innovate on behalf of the customer

  • David Penn – Research Analyst, Finovate
  • Joseph Villamizar – Director, FinTech Partnerships, Scotiabank
  • Patrick Gauthier – Vice President, Amazon Pay

10:05 to 10:35 Refreshments and Networking Break

10:35 to 12:20 Summit Sessions

  • Banking & Payments
  • New Technology
  • SMB Fintech

12:20 to 1:20 Lunch and Networking

1:20 to 3:00 Summit Sessions

  • Banking & Payments
  • New Technology
  • SMB Fintech

Coat check is available until 3 PM today so be sure to take advantage of that if you need it.

A huge thank-you to everyone for coming out and attending, speaking, demoing, blogging, Tweeting, and networking! We could not do this without you! We’ll see you next at FinovateFall, September 24 through 26 in New York.

In the meantime, feel free to follow @Finovate on Twitter and read along on the Finovate blog for fintech news and alumni updates.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: AdviceRobo, Dwolla, Emida, Entrust Datacard, Neener Analytics

Around the web

  • Entrust Datacard appoints Beth Klehr Chief Human Resources Officer.
  • Emida announces it is actively seeking partnerships with early-stage tech companies whose products and services support the Telecommunications sector.
  • AdviceRobo and Neener Analytics selected for BNP Paribas’ Plug and Play accelerator program.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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FinovateSpring: Cyber Security, Branch Banking, Partnerships, Financial Wellness, and More

By finovate Posted on
Categories: Branch Banking, FinovateSpring 2018, Mobile Banking, Security, Security & Privacy

Cyber security is finally at the frontline of conversations, but is it that easy?

Today we chatted with Sean Sposito, Security Analyst at Javelin Strategy, about the challenges that financial services companies have when dealing with cyber security. While awareness of cyber security has never been higher, Sposito asks whether that really equals an impenetrable safe wall?

Banks: who do you want to be when you grow up?

We ask John Waupsh, Chief Innovation Officer at Kasasa, where the branch stands? “Consumers, including millennials, still want to go into the branch and talk to somebody,” Waupsh says. But he counters with the fact that banks should be investing in a future of embedded banking.

FI + Core Vendor + Fintech: What it takes to make the partnership work

Tina Giorgio, President & CEO of ICBA Bancard, speaks with us live at FinovateSpring 2018 about the three Ts  – time, talent, and treasure –  that can guide community banks as they seek to adopt new technologies.

Financial wellness first: transforming the digital experience

“As a financial services industry, we have not yet been able to help a customer understand that the decisions that they make today impact their short and long-term goals,” says Tiffani Montez, Retail Banking Senior Analyst for Aite Group. Taking a new perspective on the digital experience, Montez addresses the key themes that can be facilitated by keeping financial wellness at the forefront: mobile experience, the role of the branch, and reinventing the checking account.

Security scars are key to innovation

“What’s your surface area and what are you defending?” is the first question you should be asking yourself when considering cyber security, according to Ben Johnson, CTO & Co-Founder, Obsidian Security. We speak to him live at FinovateSpring 2018 about the best practice and innovations in cyber security today.

“Banks can’t be everything for everyone”

We speak to Alex Jimenez, Vice President Senior Strategist, Zions Bancorporation about the key takeaways from the panels he participated in that addresses payments and platformization.

 

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Welcome to Day Three of FinovateSpring

Welcome to Day Three of FinovateSpring
By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateSpring 2018

We wrapped up the demos at FinovateSpring yesterday and crowned the Best of Show winners. Today we’re switching gears to discuss some of the tools and trends we saw on stage, and look at what they mean for the future of fintech.

There’s a lot to fit in, so doors open earlier this morning at 8 AM and the general session kicks off at 9 AM here at the Santa Clara Convention Center. Tickets are still available at the door.

You can check out the full agenda on our website, but here’s what you can expect today:

8 AM to 9 AM Registration and Continental Breakfast

9:00 Opening Remarks

9:10 to 9:55 Analyst All Stars

  • Shane Hubbell – Managing Director, Alkali Partners
  • Jacob Jegher – Senior Vice President, Banking and Head of Strategy, Javelin Strategy & Research
  • Daniel Latimore – Senior Vice President, Banking Group, Celent
  • Tiffani Montez – Retail Banking Senior Analyst, Aite Group
  • Ron Shevlin – Director of Research, Cornerstone Advisors
  • Jerry Silva – Global Retail Banking Research Director, IDC Financial Insights

9:55 to 10:35 Keynote Address: How Blockchain will revolutionize the industry

  • Bettina Warburg – Blockchain Researcher, Entrepreneur and Educator, Animal Ventures

10:35 to 10:55 Strategy Session: Is the future digital interface voice activated?

  • Mark Schwanhausser – Director Digital Banking, Javelin Strategy
  • Theodora (Theo) Lau – Innovator Technologist and Connector, Unconventional Ventures
  • Windsor Tanner – VP, Voice Biometrics for Real-Time Authentication, NICE

10:55 to 11:30 Refreshments and Networking Break

11:30 to 12:00 Panel Discussion: Open Banking, APIs & Regulation – Shifting sands of the US banking industry

  • Jacob Jegher – Senior Vice President, Banking and Head of Strategy, Javelin Strategy & Research
  • Kerry Warwicker – Head of Research & Intelligence, Digital Cash Products – Global Transaction Banking, Deutsche Bank
  • Dan Quan – Head of Catalyst, Consumer Financial Protection Bureau (CFPB)
  • Oded Shoshany – CEO, CeleritiFinTech

12:00 to 12:20 Question Time: Customer Acquisition and Retention Models – New technologies and ideas being used to sell to and service client accounts in order to increase growth and profits

  • Steven Ramirez – CEO, Beyond the Arc
  • Mahima Chawla – Growth Lead at Square Capital, Square
  • Vaduvur Bharghavan – CEO, Ondot Systems

12:20 to 1:00 Thriving in an Era of Digital Disruption

  • JP Nicols – Managing Director, Fintech Forge

1:00 to 2:00 Lunch and Networking

2:00 to 3:25 Summit Sessions

  • Banking & Payments
  • Digital Lending
  • Customer Experience
  • Cyber Security

3:25 to 4:00 Afternoon Coffee & Networking Break

4:00 to 5:05 Summit Sessions

  • Banking & Payments
  • Digital Lending
  • Customer Experience
  • Cyber Security

5:05 to 6:30 Reception & Networking

We’re excited to continue this momentum tomorrow, when registration opens at 8 AM and the general session content begins at 9 AM.

If you need to bring your bags, free coat check will be available.

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