Friday December 18, 2020 –
Here are the new and noteworthy stories we have been following this week.
Worldline announces a major strategic commercial acquiring alliance with ANZ Bank in Australia
Worldline has made an investment of AUD 485 million in ANZ Bank’s merchant acquiring business in Australia and entered into a joint venture to operate and develop merchant acquiring services; the deal represents a major international growth initiative for Worldline following its acquisition of Ingenico.
DoorDash & Payfare Partner To Launch DasherDirect Visa Card & Mobile Banking App
DoorDash is partnering with Payfare to launch a banking solution for DoorDash delivery drivers (Dashers) offering a Business Prepaid Visa Card and mobile banking app; the card and banking service provides Dashers no-fee daily deposits of their DoorDash earnings, digital banking functionality, and cash-back rewards on card usage.
IBM Buys Canadian Fintech Expertus to Bolster Payments Offerings
IBM has acquired Expertus Technologies, Inc., a Canadian financial technology firm to enhance its capabilities and credentials in electronic payments; established in 2001, Expertus serves over 1,000 banks, credit unions, regulatory agencies, and corporations, and is the sole SWIFT certified provider/service bureau in Canada.
Cardtronics Enters into Definitive Agreement to be Acquired for $35.00 per share by Funds Affiliated with Apollo Global Management and Hudson Executive Capital
Apollo Global Management and Hudson Executive Capital LP are acquiring Cardtronics for a total enterprise value of $2.3 billion; Cardtronics supports 285,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa and owns the surcharge-free Allpoint network of over 55,000 ATMs.
Australian Buy now, pay later provider Openpay commences US market launch
Australian BNPL provider Openpay has announced a US launch; Openpay focuses on the automotive, healthcare, home improvement, memberships, and education sector and also has a B2B offering for companies to manage trade accounts.
Mozper Raises $3.55M Seed Round Three Months After Launching In Mexico Bringing Their Total Funding To $5.1M
Mozper a Mexico-based teen banking app designed for kids and parents in Latin America has closed a $3.55M Seed round led by Hetz Ventures with participation from several new and existing investors; Mozper launched a closed beta in August with 500 families and after experiencing considerable success rolled out to the general public in November.
GoDaddy acquires Poynt for $320 million in cash
GoDaddy is acquiring Poynt for a total consideration of $365 million to expand its commerce and payments services for small businesses specifically the integration of e-commerce and in-store shopping; Poynt serves over 100,000 businesses primarily through its Android-based smart POS terminals and works with 16 different payment processors.
https://www.finextra.com/pressarticle/85511/godaddy-acquires-poynt-for-320-million-in-cash
Australian neobank Xinja throws in the towel
Xinja, an Australian neobank has decided to cease operations given challenges in raising new capital; launched in May 2017, Xinja was the first independent Australian neobank in the market and was granted a full banking license by the Australian Prudential Regulation Authority in 2019.
https://www.finextra.com/newsarticle/37167/australian-neobank-xinja-throws-in-the-towel
Fiserv acquires Ondot
Fiserv has acquired Ondot, a digital card services platform for an undisclosed sum; according to Fiserv’s CEO, “By combining Ondot and Fiserv capabilities at scale, we plan to provide our clients with a unified digital experience, spanning card-based payments, digital banking platforms, core banking, and merchant solutions…”
https://www.finextra.com/newsarticle/37170/fiserv-acquires-ondot
Largest U.S. cryptocurrency exchange Coinbase files for IPO as bitcoin soars past $23,000
Coinbase announced that it has confidentially filed the paperwork with the SEC to move towards an IPO; established in 2012, Coinbase is the largest digital currency exchange in the US.
Brazilian lending company Creditas raises $255 million as Latin America’s fintech explosion continues
Creditas a Brazil-based digital lending platform that provides secured consumer loans has raised $255 million in new financing from a large group of new and existing investors; Creditas plans to use the funds to expand its home and auto lending business as well as salary based payroll and retail installment lending.
Banks Can Resume Buybacks and Pay Dividends if They’re Profitable, Fed Says
Based on the results of the most recent round of stress tests, the Fed has advised banks that they can resume buybacks and pay dividends, “as long as those total amounts are no greater than the average of a bank’s earnings over the past four quarters”; the most recent stress tests focused specifically on the banks’ ability to withstand severe economic shocks stemming from the pandemic and considered significantly optimistic scenarios vs. the regular June stress tests.
https://www.nytimes.com/2020/12/18/business/fed-stress-tests.html
