Today in FinTech: Smart Data; Logistics payments
In today’s FinTech news, Affirm said its data analytics are central to who will pay. Meanwhile, PayCargo helps land, sea and air logistics companies manage digital payments. Additionally, Mastercard helps open banking startups grow.
Affirm: Smart Data Provides Edge in BNPL Space
Buy Now, Pay Later (BNPL) Affirm Chief Financial Officer Michael Linford said its data-driven underwriting process gives it an edge over other companies in the industry. In-depth data analysis allows Affirm to assess transactions and consider factors such as time of day and other seemingly minor details to determine risk, the company said in a conversation. online with shareholders.
PayCargo raises $130 million for global expansion
Logistics payment company PayCargo is using capital from its Series C funding round to continue its global expansion efforts in Asia, the Middle East and Latin America. Blackstone Growth was the only investor in the round. PayCargo helps companies facilitate and manage payments in the maritime, air, road and rail sectors.
Paysend Launches Commercial Solution to Power SMB Payments
Paysend Business was introduced by money transfer company Paysend to provide small and medium-sized enterprises (SMEs) with end-to-end card payments and other tools to facilitate growth and diversification. The new commerce product enables SMBs to send, hold and receive digital payments in multiple currencies using a myriad of payment gateways, including Apple Pay and Google Pay.
Cartlow raises $18M Series A to further Saudi Arabia’s growth
Reverse logistics company Cartlow is using new capital from its funding round to accelerate expansion efforts in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE). The sole funder of the tour was the AlSulaiman Group. Based in Dubai, Cartlow offers an end-to-end reverse logistics solution and focuses on recommerce solutions, transforming the used industry ecosystem and eliminating unsustainable practices.
Mastercard launches global Start Path Open Banking initiative
Mastercard is launching an initiative to help open banking startups grow, uncover opportunities for innovation, and develop new customer experiences. The Start Path Open Banking Global Program lasts three months and teaches businesses about Mastercard’s open banking platforms through wholly-owned subsidiaries Finicity and Aiia.