Fintech

EnKash Launches ‘Freedom Card’ – India’s First Corporate Credit Card for SMEs/ Start-ups

Published

5 years ago

August 6, 2019

Reading Time: 3 minutes

EnKash, a two-year-old Card focused Fin-tech startup founded by Hemant Vishnoi, Yadvendra Tyagi and Naveen Bindal, today announced the launch of the EnKash ‘Freedom Card’, India’s FIRST Corporate Credit Card for SMEs / MSMEs and startups. The most exciting feature of this card is the short duration revolving credit limit for companies to fulfill all business payments including but not limited to supplier payments, travel & entertainment expenses, utility payments, digital & cloud payments and other business expenses.

The Freedom card which was in beta phase for the last few weeks has already issued hundreds of cards and comes with free access to feature-rich EnKash platform which automates entire accounts payables or collection process for businesses.

EnKash’s Freedom card gives SME’s and Startups an opportunity to avail credit facility for immediate needs and to manage their financial liquidity. The card offers exciting terms of usage like providing varied & flexible billing cycles, single card for multiple use cases that can be used anywhere. Unlike pre-paid cards which are being promoted as credit cards and have limited acceptance, the Freedom Card is a true commercial credit card with open acceptance. The Freedom Card aims to grow exponentially while assisting SME’s and startups with increased credit lines and efficiencies to manage their businesses better.

‘Freedom Card’ is the brainchild of Mr. Naveen Bindal, Co-Founder of EnKash. Mr. Bindal has over two decades of experience in the cards and payment industry, across card issuance and acquiring. Naveen identified the need of a true commercial credit card and not the half-baked solutions which are being masqueraded as credit cards but are actually run on prepaid modules. Understanding the lack of proper credit options for Startups and SME’s, he along with other co-founders Hemant Vishnoi and Yadvendra Tyagi came up with a feature rich and user friendly solution for credit facilitation with the EnKash Freedom Card.

On the launch of the Freedom Card, Mr Bindal said, “Currently banks offer corporate credit cards and we partner with most of them to enhance the experience. While we will continue enhancing our capabilities for these bank partnerships, we realized that specific products are required to address uses cases which are peculiar to underserved SMEs & startups as their requirements are different. These segments are not able to benefit fully with the existing solutions in the market, be it for enhancing their short-term credit requirements or convenience or just simply getting access to a commercial credit card.”

“We are excited with the progress Enkash has made to emerge as a market leader in the B2B payments space. The launch of the EnKash Freedom Credit Card is a natural evolution for the company in its mission towards solving the problem of working capital and in increasing efficiencies through a payments mechanism which till now was accessible only to businesses of a certain large size. We partnered with EnKash early on and are deeply committed in supporting the team in their journey,” said Vikram Godse, Managing Partner, Mayfield who is also on the Board of EnKash.

EnKash was established in the year of 2017, with a single aim to create an all encompassing ecosystem of businesses by offering innovative solutions. The EnKash platform today boasts of a confidence of more than 50,000 businesses using www.enkash.com. The flagship product is providing the best-in-class technology, state-of-the-art, cost-effective business to business payable & collection systems.

Similar commercial credit card businesses in overseas markets have seen tremendous success over the years. Brex, a US based commercial credit card company has gone on to raise millions of dollars and is currently valued at over $2.6 Billion since launch 3 years ago. Similarly, NuBank, a Brazilian credit cards based fintech company started life focusing on the consumer credit card market and has now launched commercial credit cards for businesses and is valued at over $4.6 Billion.

Coming out of their beta launch, The EnKash Freedom card is accepting applications now at www.enkash.com.

SOURCE EnKash

Fintech

Fintech Pulse: Your Daily Industry Brief (Axos Bank, Global Trading Network, Fonepay, Compass Plus Technologies, Instacoins)

Published

15 hours ago

December 4, 2024

Peter Tolan

fintech-pulse:-your-daily-industry-brief-(axos-bank,-global-trading-network,-fonepay,-compass-plus-technologies,-instacoins)

Axos Bank Partners with Way.com to Address Rising Car Costs

Axos Bank has teamed up with Way.com to help customers mitigate increasing car expenses. This partnership focuses on vehicle refinancing and aims to offer savings through integrated digital solutions. By combining Way.com’s auto services with Axos’ financial products, users can streamline their vehicle-related expenses, from insurance to payments. This move reflects Axos’ strategy to enhance its consumer offerings by leveraging partnerships in niche sectors.

Source: Axos Bank.

Brazil’s Largest Drug Gang Under Investigation for Fintech Infiltration

Brazilian authorities are probing the country’s largest drug gang for using fintech platforms to launder money. This investigation highlights concerns over the growing use of digital financial tools by organized crime. The gang allegedly exploited fintech’s lack of stringent oversight compared to traditional banking, raising red flags about regulatory gaps in the digital financial landscape.

Source: Bloomberg.

GTN Appoints New CEO to Drive European Expansion

Global Trading Network (GTN) has appointed Christopher Gregory as CEO for Europe, marking a pivotal step in its strategic expansion across the continent. Gregory, known for his expertise in fintech and capital markets, is expected to lead GTN’s efforts in diversifying its product offerings and enhancing its market presence. This leadership shift underscores GTN’s commitment to capitalizing on Europe’s burgeoning fintech market.

Source: PR Newswire.

Fonepay and Compass Plus Launch Nepal’s First Virtual Credit Card

Nepal’s digital payments ecosystem takes a leap forward with Fonepay partnering with Compass Plus Technologies to introduce the nation’s first virtual credit card. This innovation aims to promote cashless transactions and enhance financial inclusion by offering secure, contactless payment options. This development aligns with Nepal’s digital transformation goals and is set to redefine consumer payment experiences in the region.

Source: Fintech Futures.

Instacoins Partners with Luxury Brands for Digital Payments

Instacoins is expanding its footprint in the luxury market by partnering with high-end brands to enable cryptocurrency payments. This initiative is designed to offer affluent customers a seamless digital payment option, blending traditional luxury shopping with modern fintech solutions. The partnership also reflects the increasing adoption of cryptocurrency in mainstream commerce.

Source: PR Newswire.

The post Fintech Pulse: Your Daily Industry Brief (Axos Bank, Global Trading Network, Fonepay, Compass Plus Technologies, Instacoins) appeared first on News, Events, Advertising Options.

Fintech

Bety Unveils Enhanced Offer of 20,000+ Crypto Games and Sportsbook Events

Published

15 hours ago

December 4, 2024

Peter Tolan

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Bety is a decentralized casino and sportsbook platform that supports Bitcoin deposits and withdrawals. It is owned and operated by 12 Stars International Gaming Solutions Limited, a company established in Seychelles.

Bety, one of the leading Web3 betting platforms with a decentralized approach to casinos and sportsbooks, has unveiled its enhanced offer, boasting over 20,000 crypto casino games, sports, and eSports events. The platform aims to become one of the top Bitcoin casinos with a fair, transparent, and unmatched gaming experience for everyone

Blockchain technology is a catalyst for innovation in all sectors, and online casino gaming is no exception. The growing adoption of cryptocurrency into the mainstream supports the emergence of groundbreaking platforms in digital entertainment. Bety is one of the major players spearheading this revolution by offering secure and accessible gaming experiences to change how people interact with online gambling services.

The Advantages of Web3 Betting

Traditional online casinos have been around since the early days of the Internet. However, they have always faced the same challenges, such as slow payouts and high deposit/withdrawal fees. Moreover, users have often complained about the improvable fairness of game bets and their outcomes.

Web3 betting solves these issues and takes online casino gaming to the next level through blockchain gaming. Its use of decentralized ledger technology ensures a transparent gaming experience for all users. It also accelerates deposit and withdrawal times at considerably lower costs than what traditional casinos practice.

The processing times for deposits at traditional and crypto casinos are similar, often occurring instantly. However, there is a significant difference in withdrawal times between conventional online casinos and blockchain-based casinos.For example, traditional casinos can take several days to process withdrawals. Users often have to wait up to 3 days to transfer winnings to their credit/debit cards and 7 days via bank transfers. On the other hand, crypto casinos process payouts in only a few minutes, sometimes instantly, depending on the blockchain network’s congestion. This remarkable speed allows players to access their earnings faster and enhances the user experience.

The Rise of Blockchain Gaming

Blockchain gaming is a game-changer for the online casino experience. This technology offers unprecedented levels of trust and transparency. Thanks to its decentralized nature, players from various regions can play in complete anonymity and privacy. Furthermore, the lack of a centralized authority enhances game insights. It sets the stage for provably fair game mechanics, thus empowering players to make informed choices.Bety is an innovative blockchain gaming platform that employs the Provable Fairness concept, which is fundamental for Web3 betting. The platform ensures that game outcomes are determined randomly and cannot be manipulated by the operator or any other party. Therefore, Bety guarantees equal winning odds for all players.

Innovation and Accessibility

Bety stands out as a popular crypto casino with a rich selection of classic casino games and sports events catering to high-end players. The platform excels through its user-centered approach, which includes various bonuses, an exclusive VIP program, and 24/7 customer support.Moreover, Bety embraces the latest technological advances by incorporating the many benefits of blockchain networks, such as Bitcoin payments. The platform supports quick Bitcoin deposits and withdrawals, offering higher privacy and accessibility than traditional payment methods, such as debit or credit cards.

Hash Games at Bety Casino

Blockchain technology increases the gaming offer for online casinos, providing games not supported by traditional casinos. For example, conventional casinos rely on the classic offer of vintage games with limited scalability and versatility potential. On the other hand, blockchain provides a fertile ground for boundless creativity, spurring innovative concepts, such as play-to-earn and hold-to-earn.Gaming diversity is one of the most exciting aspects of building a Web3 betting platform on blockchain technology. In addition to offering traditional casino games such as slots, poker, blackjack, and roulette, Web3 casinos also provide hash games.Hash games are fast-paced, simple games that mimic classic casino games while adding a pinch of excitement. The game mechanics use hash value calculation and blockchain algorithms to deliver a thrilling, straightforward gaming experience. Players must wager on a predicted hash interval and win if their prediction is correct. Hash games involve various betting options that broaden the winning odds.Bety has several hash games in its versatile blockchain gaming offer, including Hash Banker Player, Hash Bull, 3-Min Bull, 1-Min Banker Player, and more. These games function by simple, easy-to-understand rules and ensure provable fair outcomes with appealing RTP rates.

A Unique Classic Casino Gaming Offer

In the most recent offer upgrade, Bety reveals an enhanced gaming offer, including slots, live casino, table games, lottery games, and sports events. Users can pick from over 10,000 casino games from leading brands, such as PGSoft, Evolution Gaming, Evoplay, Yggdrasil, Red Tiger, EG Games, Spribe, JILI, AE Sexy, Ezugi, and PNG. This stellar collection of games from reputable brands ensures players have non-stop access to the latest games and live events while enjoying a cutting-edge gaming experience.Bety offers a versatile library of over 10,000 slot games from more than 100 leading brands. Many of these games involve highly appealing bonuses, making the playing experience even more exciting. The platform replicates an authentic casino experience through its live casino that players can enjoy without leaving their homes. Also, the table games section includes many traditional and fan-favorite games, such as poker, blackjack, baccarat, craps, roulette, and more.

Promotions & Bonuses

Bety also provides several promotions for new and veteran players to make the gaming experience even more thrilling and fulfilling. The platform offers bonuses on the first 4 deposits and 7-day and monthly bonuses. Furthermore, referring friends to Bety entitles players to additional bonuses and earning opportunities.

The VIP Program

Bety invites players to explore its large blockchain gaming selection. They can quickly make transparent and instant Bitcoin deposits to play these games and boost their profiles on the platform. In time, the most loyal players can enter Bety’s VIP program and enjoy several advantages, including cash back incentives, free chests, free spins, and personal VIP assistants. Moreover, the platform also supports instant Bitcoin withdrawals.

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Fintech

Fintech Pulse: Your Daily Industry Brief (21X, 9fin, Upstart, LendingClub, Cloudflare)

Published

2 days ago

December 3, 2024

Peter Tolan

fintech-pulse:-your-daily-industry-brief-(21x,-9fin,-upstart,-lendingclub,-cloudflare)

1. 21X Secures Historic EU Blockchain License

In a groundbreaking development, 21X has obtained the first fully regulated EU license for a blockchain-based trading venue, setting a new precedent for digital asset trading within Europe. This initiative aims to integrate blockchain technology into traditional financial markets, enhancing transparency, efficiency, and trust. By leveraging Distributed Ledger Technology (DLT), the platform will allow both institutional and retail investors to trade digital securities under a stringent regulatory framework. This move is expected to accelerate the convergence of traditional and decentralized finance across the European Union.

Source: GlobeNewswire

2. 9fin Raises $50 Million to Expand Legal Tech Solutions

UK-based fintech legal platform 9fin has secured $50 million in Series B funding led by major VC firms. Known for its AI-powered data analytics in legal and financial services, 9fin plans to utilize these funds to scale operations and expand its presence in the U.S. The investment reflects growing confidence in fintech solutions that bridge legal and financial markets, particularly in streamlining debt capital markets.

Source: Artificial Lawyer

3. Bolivia’s Crypto Ban Lifted: A Surge in Digital Currency Interest

Bolivia has reversed its longstanding ban on cryptocurrencies, signaling a potential shift in Latin America’s approach to digital assets. This regulatory relaxation has ignited a crypto boom in the country, as entrepreneurs and investors rush to capitalize on the newfound legal status of digital currencies. With this change, Bolivia aims to foster innovation in fintech while maintaining safeguards to prevent financial crimes. Analysts predict this could spur broader adoption across the region, potentially reshaping Latin America’s fintech landscape.

Source: Bitcoin.com

4. Top AI-Powered Fintech Startups Identified by VCs

A recent report highlights the 15 most promising AI-driven fintech startups poised to disrupt the financial industry in 2024. From enhancing fraud detection to automating investment strategies, these startups are leveraging machine learning and AI to redefine financial services. Key players include fintech firms specializing in lending, insurance tech, and wealth management. This surge in AI integration is reshaping consumer interactions, driving efficiency, and creating new revenue streams across the fintech ecosystem.

Source: Business Insider

5. Upstart, LendingClub, and Cloudflare in the Spotlight

Leading fintech stocks such as Upstart and LendingClub saw significant market activity, reflecting broader trends in consumer credit and fintech innovation. Meanwhile, Cloudflare continues to impact the tech sector, particularly in cybersecurity for financial institutions. These companies are setting the pace in their respective domains, with investors closely monitoring their growth trajectories amid a competitive market landscape.

Source: Yahoo Finance

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