News Highlights - 2 September 2021

Weekly News Highlights – 2 September 2021

For this funding news, we dive further into the fintech landscape and retrieve the latest updates. Find out the latest news flashes from cryptocurrencies, payments, banking, fintech partnerships and data adequacy. Enjoy reading!

Singapore places Binance on investor alert list (Financial Times)

The Monetary Authority of Singapore has said Binance may have breached local regulation, making the city state the latest global regulator to crack down on the international crypto exchange. Singapore’s central bank and financial regulator placed the company’s global website binance.com on an “investor alert list” to “warn consumers in Singapore that Binance is not regulated or licensed in Singapore to provide any payment services”. Read more

PayMate Enters Prospering UAE Market Following Significant Partnership With Citi and Visa (Fintech Times)

UAE corporates should prepare for significant changes to the way in which they’re able to manage their Accounts Payables and Accounts Receivables (AP and AR respectively), thanks to the formation of a new partnership between PayMate, Visa, and Citi. Read more.

Funding Xchange embeds its lending marketplace on eBay (Altfi)

Just three months after eBay debuted its embedded finance marketplace, Capital for eBay Business Sellers (CEBS), £25.4m has been borrowed by over 2,700 small businesses. CEBS works by connecting lenders, starting with YouLend, with eBay’s 300,000 SME customers, and letting applications happen quickly by harnessing eBay’s insights on the applicants. Read more

LexisNexis Risk Solutions acquires TruNarrative (Finextra)

LexisNexis Risk Solutions has acquired Leed-based automated onboarding and financial crime platform TruNarrative. Upon completion, TruNarrative will become part of the Business Services group of LexisNexis Risk Solutions. Read more.

Afterpay introduces new advertising solutions (The Paypers)

US-based BNPL provider Afterpay has debuted Afterpay Ads, a new suite of advertising products to help brands reach, acquire and activate loyal shoppers across the Afterpay ecosystem. These new advertising options are built for brands who are focused on growing their base of Gen Z and Millennial shoppers. Read more

Prosus acquires Indian payments giant BillDesk for $4.7B, will merge with its PayU fintech group (The Tech Crunch)

Prosus announced that it would pay $4.7 billion to acquire BillDesk, a payments provider based in India. Prosus plans to combine BillDesk with PayU, its existing global fintech and payments business, which already has a strong presence in India. The proposed acquisition will make PayU one of the bigger online payment providers globally with some $147 billion in payment volume annually. Read more

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