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CARD91, a global Payment Issuance Infrastructure company, announces strategic partnership with YES BANK and RuPay

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CARD91, a global payment infrastructure powering B2B payments, announced a strategic partnership with YES BANK and RuPay, the flagship product of National Payments Corporation of India (NPCI). Through this partnership, CARD91 will create a card management system that will allow companies to launch a variety of co-branded card instruments as well as maintain a real-time dashboard to generate insights. This will enable CARD91 to expand its presence in the Indian payments market.

CARD91’s partnership with YES BANK and RuPay will enable the company to provide businesses of all kinds across various sectors with a range of card instruments for managing and securing payments. Businesses will now have an option to choose from co-branded or non-branded card instruments, thereby giving them an innovative solution to address specific use.

CARD91 is a plug-and-play Payment Issuance Infrastructure designed to help businesses launch co- branded cards and simplify payments. By managing compliance, regulation, infrastructure, lending, issuance, and customer service, the company offers a seamless process for the launch of co-branded payment cards. CARD91 optimises costs, decreases launch time and provides real-time insights and data on card instruments.

CARD91 allows businesses to monitor their payment flows, from onboarding to processing transactions and data reconciliation. Banks can offer their customers access to new-age payment services, as well as support card-based lending. The company is also in discussion with other brands about co-branded instruments.

We are delighted to partner with YES BANK and RuPay,” said Ajay Pandey, co-founder of CARD91. “This partnership will help us offer businesses a simple and secure way to manage their payments, compatible with a wide range of payment networks across the country. By utilizing the scalable CARD91 infrastructure, businesses will be able to launch any type of card instrument quickly and gain real-time insight into their usage. Our aim is to further revolutionise and accelerate the Indian digital payments system.

Speaking on the occasion, Naveen Chaluvadi, Chief Digital Officer, YES BANK, said, “We are pleased to partner with CARD91 on this technology-driven project platform. This is in line with our strategy of nurturing innovation, strengthening the payments ecosystem and creating commercial models that will provide value for our customers and clients. This partnership aims to provide technology support to propel go-to-market for businesses, enabling them to launch multiple prepaid payment instruments, thereby delivering the convenience of digital-first solutions to more consumers. We are looking forward to step-up our efforts to deliver a range of solutions that add value to customers and push the boundaries through this strategic arrangement with the help of partnerships across multiple programs.”

Mr. Nalin Bansal, Chief of Corporate and Fintech Relationships and Key Initiatives, NPCI,  said, “We are pleased to be an integral part of CARD91’s new-age solutions in terms of card management system for businesses. We believe such kind of initiatives will further add value to RuPay’s journey of providing a seamless and tech-led corporate payment management experience to businesses. With RuPay’s immense popularity among retail customers, we are confident to witness its increased adoption among the business fraternity as well.”

Bengaluru-based CARD91, which has offices in Mumbai and Delhi, is poised to become a major player in the global payment infrastructure market. CARD91 recently emerged from stealth mode and raised $13 million in a Pre-Series A round of funding. In August 2020Ajay PandeyKush Srivastava, and Vineet Saxena founded the technology startup. All three have founded successful ventures in the past, including Myntra, Mastiff, and Quiklo.

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Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)

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As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.

Chime’s Quiet Step Toward Public Markets

Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.

With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.

Source: Bloomberg

ZBD’s Pioneering Achievement: EU MiCA License Approval

ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.

MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.

Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.

Source: Coindesk, PR Newswire

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The Fintech-Credit Union Synergy: A Blueprint for Innovation

The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.

This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.

Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.

Source: PYMNTS

Tackling Student Loan Debt: A Fintech’s Mission

Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.

The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.

As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.

Source: RBJ

Industry Implications and Takeaways

Today’s updates underscore several key themes shaping the fintech landscape:

  1. Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
  2. Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
  3. Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
  4. Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.

 

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SPAYZ.io prepares for iFX EXPO Dubai 2025

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Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.

SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.

Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.

“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”

Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.

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Airtm Enhances Its Board of Directors with Two Strategic Appointments

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Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.

“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”

Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.

Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.

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