The Electronic Transactions Association (ETA) today announced the ten payments technology startups that will participate in the Payments’ NexTen program, sponsored by Worldpay, at TRANSACT, the world’s largest payments technology event, April 30-May 2 at Mandalay Bay in Las Vegas.
“The payments industry is at an inflection point of technological revolution, and the entire ecosystem benefits from new and innovative approaches to solving complex problems,” said ETA Interim CEO Amy Zirkle. “ETA is thrilled to partner with Worldpay to bring these leading-edge startups to the epicenter of payments innovation – TRANSACT.”
NexTen participants will pitch their solution to a panel of industry mentors, partake in educational sessions designed for new entrants to the payments industry, and network with peers, investors and corporate leaders at TRANSACT. The startups will receive complimentary registration and exhibit space at the show.
The 2019 Payments’ NexTen participants include:
- Biller Genie: A virtual assistant that automatically sends invoice notices, performs follow-up on past-due invoices, provides access to convenient online payment portals, and reconciles payment activity without the need for human intervention.
- BIM Networks: A platform that enables merchants to connect consumer checking accounts to their apps and website and can be used whenever their customers want to buy goods and services from them.
- DataSeers: A solution that received structured and unstructured data, cleans, ingests, labels and augments the data to prepare it to go through AI and ML algorithms for better results and highly-successful predictability in order to help clients with back-office operations like compliance and fraud detection.
- Everyware Inc.: a pay-by-text solution that allows businesses to send a simple text message with a secure link to click-to-pay with no interaction to complete the payment. Customers can reply with questions or concerns, and Everyware’s conversational payment gateway sends automated text receipts after every purchase to authorize and validate transactions.
- HealPay: SettlementApp software from HealPay uses data to offer the best payment plans to consumers who have debt. HealPay offers a suite of cloud-based apps that enable online payment processing for various sectors.
- Joust: The Joust app combines an FDIC-insured bank account, a merchant account for accepting credit card payments, and the tools to run all financials on one platform.
- Kickfin: A cash management and payments app that provides merchants with access to payments software and IoT hardware. The solution provides immediate access to working capital, reduces loss and theft, increases efficiency and pays employees daily.
- Payclub: Designed to close the gap for highly-tailored banking for Gen Z by building in collaborative tools, Payclub combines personal accounts with unlimited collaborative accounts to help Gen Z consumers manage their collections and spending.
- Pronto CX, Inc.: A smart event platform that combines a ticket, wallet, loyalty/member card, parking pass, sponsor activation, fan engagement, etc. into a single vehicle that can be read over NFC.
- Token Transit: Token Transit is a shared mobility marketplace powered by city governments, providing an online account system for payment for public transit which lets the user verify their payment with an inexpensive IoT device.
The participants were selected for the program from a highly-competitive pool of applicants by a panel of payments executives, entrepreneurs and investors based on their innovative approaches to solving the following critical payments industry challenges identified by Worldpay and ETA:
- Facial Recognition & Biometrics: How can we use biometric technology to validate the cardholder’s identity at the time of payment?
- Internet of Things (IoT): How can we integrate payment systems with IoT-connected devices in order to streamline the payment cycle?
- Data: How can we use existing merchant data (that’s already being collected) to streamline, augment, or otherwise improve the merchant experience?
- Artificial Intelligence/Machine Learning: How can we deploy AI and/or machine learning in the payment cycle to automatically validate transactions and make the payment experience as seamless and invisible as possible?
- Contactless Payments: How can we increase adoption of contactless payments in the U.S. market, both on the consumer side and the merchant side?
TRANSACT, happening April 30-May 2 at the Mandalay Bay Convention Center in Las Vegas, provides 4,000 attendees with a robust exhibit hall with more than 200 exhibitors, extensive networking events, and forward-looking educational sessions on the groundbreaking technologies, trends and policies shaping the payments industry.
SOURCE Electronic Transactions Association (ETA)
UBS Managing Director Choo Oi Yee To Join iSTOX As Chief Commercial Officer (CCO)
iSTOX, the first regulated platform in any major global financial center to offer end-to-end issuance, custody, and trading of digitized securities, is pleased to announce the appointment of Choo Oi Yee as its first Chief Commercial Officer (CCO).
Choo has over 20 years of experience in the investment and banking industry, most recently as Managing Director and Head of Singapore Corporate Client Solutions for UBS, where she was responsible for UBS Singapore’s investment banking business. In her new role at iSTOX, Choo will be a key member of iSTOX’s management team responsible for driving the company’s overall business growth by building its network of investors and issuers. She will join the iSTOX team in January of 2020.
“I see some truly fundamental changes on the horizon for capital markets and I believe that Singapore — and the iSTOX team — are uniquely well positioned to take advantage of them,” she said. “I’m very excited to be joining the team and look forward to helping iSTOX grow into the platform of choice for 21st century issuance and investment.”
Choo’s appointment comes at a strategically important period for the company; iSTOX has initiated plans to grow its base of issuers and investors as it works towards graduation from MAS’s Fintech Regulatory Sandbox in early 2020.
“It was clear to us that we needed someone with Oi Yee’s stature, reputation, and experience for our CCO role. Among other requirements, we needed someone with deep securities, issuance, and trading experience at a very senior level; someone with outstanding relationships with major institutional investors, business leaders, family offices, and others; and, most importantly, someone with a deep and instinctual understanding of the challenges and opportunities facing issuers and investors,” said Danny Toe, Founder and Chief Executive Officer of ICHX.
“We are pleased to welcome Oi Yee to the team as we open up applications for iSTOX investor accounts and plan an exciting issuer pipeline ahead of our projected sandbox graduation early next year,” said Darius Liu, Co-Founder and Chief Strategy Officer of iSTOX.
Euromoney TRADEDATA Partners With UK FinTech ipushpull to Create On-demand ‘Data-as-a-service’
Euromoney TRADEDATA is pleased to announce a strategic partnership with ipushpull, a powerful data sharing and workflow platform.
Euromoney TRADEDATA recognises that the on-demand model is the future of data consumption, particularly within community chat and messaging networks, as part of a suite of delivery systems required to service all parts of the market that need futures and options reference data.
Through a single connection to ipushpull, Euromoney TRADEDATA can distribute data into a variety of applications including Symphony, the secure collaboration platform, with nearly half a million connected financial market users. The ipushpull platform provides Euromoney TRADEDATA with new distribution channels for secure, audited, access-controlled data delivery.
Mark Woolfenden, Managing Director of Euromoney TRADEDATA, comments:
“This is a very important integration for Euromoney TRADEDATA, as we begin to experiment with embedded, on-demand workflow functionality and delivery systems for our reference data. We recognise ipushpull as a leading exponent in data sharing workflow technology and we expect further benefits from their connections to other community messaging solutions. Also, as part of the offering, we can now offer a functionally rich Excel plugin for desktop users to access our reference data, which integrates seamlessly within users’ existing workflows. In addition, we look forward to working with ipushpull to develop a clutch of bots, to further enhance our customers’ experience in using our data services.”
Matthew Cheung, CEO of ipushpull, comments:
“We’re excited to offer Euromoney TRADEDATA new avenues to deliver and monetise their data to a variety of desktop and cloud services. We see this innovative approach as the first step towards an on-demand ‘Netflix’-style distribution model for data producers and consumers.”
SOURCE Euromoney TRADEDATA; ipushpull
360 Finance’s LendingAdda Launches Diwali Offers
LendingAdda consumer lending marketplace owned by parent company 360 Finance (NASDAQ: QFIN) announces Diwali offer for credit card holders. On 6th October, SBI announced a bumper Diwali offer for its credit card holder; on 10th October, the State Bank of India approved a ten percent discount for its credit card users; on 14th October, LendingAdda launched the credit card function, and AMEX, SBI, Citi banks’ cards are included.
Due to India’s inefficient banking system, most people do not have a credit history, which leads to lower utilization of credit cards and limited accessible for many.
In this condition, fintech companies empower people’s lives compared with banks. LendingAdda, a digital finance platform, has integrated more diversified financial services. Its innovative data-driven and behavioral risk management models can help overcome barriers that arise from a lack of widespread and robust credit scoring.
Prantik Ray, professor of finance at XLRI-Xavier School of Management at the University of Minnesota, has stated that digital finance can be instrumental in providing credit ratings and potentially be leveraged in other areas. In essence, online finance can help create more possibilities in people’s lives.
LendingAdda evaluates a user’s credit based on big data and selects the most suitable loan and credit card product offers for consumers using intelligent matching. So far, it has offered lending services to more than 4 million Indians, and the number of borrowers is multiplying.
Most importantly, LendingAdda’s products cover almost every part of a user’s daily life: microfinance, credit cards, commercial loans, mortgages, auto loans, medical loans, education loans, etc., and its interest rate is usually lower than banks.
Additionally, LendingAdda has a higher credit line (up to 10 lakhs), which can almost always meet the borrowing needs of consumers, and the money arrival rate is less than 5 minutes, which was much faster than the bank.
With the help of LendingAdda, Moham finally got his wish of buying an iPhone for his girlfriend, which he thinks will help him bring greater happiness to his life.
How does LendingAaad help people accomplish their dreams?
Compared with many other enterprises, LendingAdda has world-class technology that enables it to offer a highly secure lending process with tailored products and services that help serve the daily lives of its users.
SOURCE 360 Finance, Inc.
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