Settle Launches Mobile App in Croatia; Sr. Pago Partners with American Express

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Middle East and Northern Africa

  • RISQ Teams Up with Aion Digital to Boost SME Lending in MENA.
  • ACI Worldwide teams up with Egyptian Banks Company, which will leverage ACI’s UP Retail Payments solution.
  • The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has begun issuing digital banking licenses.

Central and Southern Asia

  • Bangalore-based neobank for workers NiYO raises $35 million in new funding.
  • WebMoney Transfer goes live with its WMY wallet in Uzbekistan.
  • India’s Recko, a company that provides AI-powered digital transaction reconciliation, picks up $1 million in seed capital.
  • Swiss payments technology company BPC opens offices in Pakistan.
  • Nikkei Asian Review highlights Vymo and its entrance to the Japanese market.

Latin America and the Caribbean

  • Jumio to power digital identity for Brazil-based BTG Pactual.
  • Mexico’s Sr.Pago announces partnership with American Express.
  • Mastercard Brazil partners with Airfox and banQi to bring lower-cost banking options to Brazilian customers.

Asia-Pacific

  • Bank of Thailand implements SimCorp Dimension to manage its reserve management and monetary policy operations.
  • Vietnam’s central bank warns against fraud in the P2P lending market.
  • Regulators in the Philippines introduce new rules governing crowdfunding.

Sub-Saharan Africa

  • Temenos to power digital transformation for Rwanda’s Bank of Kigali. The company will also replace core and front office legacy systems for South African microfinancier Barko
  • Ghana to launch universal QR code payment method later this year.
  • Mobile payments startup OPay raises $50 million in funding in round led by Sequoia China, IDG Capital, and Source Code Capital.

Central and Eastern Europe

  • Settle launches its mobile payments app in Croatia.
  • Czech-based fintech developer Turing Technology closes second round of funding.
  • Slovenia’s Telekom Slovenije introduces its mobile wallet.

Top image designed by Freepik

Sr. Pago Seeks to Remove the High Fees Associated with Check Cashing Services

This post is part of our live coverage of FinovateFall 2014.
SrPagoLogo

Sr. Pago debuted its card and reader solution:

“With Sr. Pago, small businesses and individuals can both accept card payment for services they render and then have that money loaded onto a card that can be used anywhere MasterCard is accepted. 
It seeks to provide a secure ecosystem for a population that has been subjected to the high fees associated with check cashing, the inconveniences of using convenience stores to perform basic banking functions, and the security risks of carrying cash for everyday transactions.”
Presenting: Pablo Gonzalez Vargas, CEO & Co-Founder
SrPagoHomepage
Product Launch: May 2014
Metrics: The company currently has 25 employees and has raised approximately $1M in seed funding from private investors.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)
HQ: Mexico City, Mexico
Founded: 2010
Website: senorpago.com
Twitter: @SrPagoOficial