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PayPal enters UK’s buy now, pay later market

PayPal enters UK’s buy now, pay later market

PayPal is to take on the likes of Klarna and Australia’s AfterPay with the launch of a buy now, pay later shopping service that lets UK consumers pay for their purchases in three monthly installments. Through PayPal Pay in 3, businesses can offer their customers the option of making purchases between £45 and £2,000 by...

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SA Reserve Bank Grants Bank Zero Forex Exchange Licence

SA Reserve Bank Grants Bank Zero Forex Exchange Licence

Digital-only bank, Bank Zero, has been appointed as a restricted authorised dealer in forex exchange by the South African Reserve Bank. The new licence, according to the bank, allows Bank Zero cards to be used for international trade, enabling customers to conduct foreign purchases either online or physically. This comes as SA’s newest digital bank finalises its...

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Xepelin launches a lending and revenue management service: Digital Bank for SMBs in Latin America

Xepelin launches a lending and revenue management service: Digital Bank for SMBs in Latin America

There’s another entrant in the startup race to provide financial services to Latin America’s small and medium-sized businesses. Financial services have been a huge opportunity for startups coming out of Brazil, Colombia and Mexico in recent years, and now Xepelin, a new company from Chile, is looking to join the fray. Xepelin’s founders, Sebastian Kreis and...

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Bank Zero is Almost Ready to Start Trading – Reports

Bank Zero is Almost Ready to Start Trading – Reports

Digital banks have been on the rise in South Africa for a while. From TymeBank putting consoles in supermarkets to Discovery launching its personal digital financial institution, there was no scarcity of recent improvements on this sector.  One of essentially the most attention-grabbing by far, Bank Zero, has formally gone reside, though solely with a...

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Capitec Bank launches free online financial education platform – Live Better Academy

Capitec Bank launches free online financial education platform – Live Better Academy

Capitec Bank has established an online financial education platform offering financial literacy on savings, spending and debt management. The bank says the Live Better Academy offers practical tips and strategies to help people make smart financial decisions and achieve their goals. Capitec says the course series can be done on a smartphone, tablet or PC, and requires less than 200MB to...

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Alibaba fintech arm eyes record IPO with Hong Kong-Shanghai listing

Alibaba fintech arm eyes record IPO with Hong Kong-Shanghai listing

The financial arm of Chinese e-commerce titan Alibaba is planning the biggest IPO in history, raising as much as $35 billion in a joint listing in Hong Kong and Shanghai, a report said Thursday. And in a sign of Ant Group’s confidence in the share sale, it will not seek cornerstone investors — large institutions...

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The Role of SA Banks in Economic Crime Not Yet Clear – Open Secrets

The Role of SA Banks in Economic Crime Not Yet Clear – Open Secrets

Anti-corruption group Open Secrets said at this stage it’s unclear how deeply some South African banks may be implicated in economic crime. This comes as leaked secret US government documents reveal how major international banks are helping launder money in the illicit economy. The FINCEN files also show more than two-trillion dollars of transactions between...

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TymeBank is signing up between 3,000 and 3,500 customers each day

TymeBank is signing up between 3,000 and 3,500 customers each day

TymeBank, backed by billionaire Patrice Motsepe’s investment group African Rainbow Capital (ARC), has signed on 1.9 million customers of which 50% were active at the end of June 2020. Launched in November 2018, the digital banking startup said that it aimed to be at break-even by 2022, with a customer base of around 2.2 million...