In today’s FinTech news, Affirm said its data analysis is a core component of knowing who will pay. Meanwhile, PayCargo is helping logistics companies on land, sea and air manage digital payments. In addition, Mastercard is helping open up the scale for new banking companies.
Affirm: Smart data provides advantage in BNPL space
Affirm’s Buy Now Pay Later (BNPL) CFO Michael Linford said its data-driven underwriting process gives it an edge over other companies in the industry. Deep data analysis allows Affirm to assess transactions and consider factors such as time of day and other seemingly small details to determine risk, the company said in a fireside online chat with shareholders.
PayCargo raises $130 million for global expansion
Logistics payments firm PayCargo is using capital from its Series C funding round to fuel 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, trucking and rail industries.
Paysend launches an enterprise solution to boost payments for SMEs
Paysend Business was introduced by money transfer company Paysend to provide small and medium-sized businesses (SMBs) across the globe with end-to-end payments and other tools to facilitate growth and diversification. The new merchant product enables SMBs to send, hold and receive digital payments in multiple currencies using myriad payment gateways, including Apple Pay and Google Pay.
Cartlow raises $18M Series A for further KSA growth
Reverse logistics company Cartlow is using fresh capital from its funding round to accelerate expansion efforts in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE). The only sponsor of the round was the AlSulaiman Group. Based in Dubai, Cartlow offers an end-to-end reverse logistics solution and focuses on reCommerce solutions, transforming the used vehicle industry ecosystem and eliminating unsustainable practices.
Mastercard launches Start Path global open banking initiative
Mastercard introduces an initiative to help open banking startups scale, uncover innovation opportunities and develop new customer experiences. The three-month global Start Path Open Banking program teaches businesses about Mastercard’s open banking platforms through wholly-owned subsidiaries Finicity and Aiia.