• Wed. Jun 22nd, 2022

Today in FinTech: Bitcoin Crushed Even More

ByHazel R. Lang

May 16, 2022

In today’s FinTech news, FTX crypto exchange founder Sam Bankman-Fried said he doesn’t think bitcoin can be a form of payment. Plus, Buymie is expanding its digital grocery delivery service to more cities in Ireland and the UK

FTX Founder Says Bitcoin Is Failing as a Payment Network

FTX crypto exchange founder Sam Bankman-Fried threw bitcoin under the bus in an interview with the Financial Times, saying bitcoin couldn’t work as a form of payment. He later said his quotes were chosen by FT “selectively,” but critics said he might disparage bitcoin in favor of his personal interest in Solana’s exchange.

Experian obtains majority stake in Brazilian FinTech MOVA

Experian is taking a 51% stake in Brazilian FinTech MOVA for 40 million Brazilian reais ($7.9 million). The global information services company acquires the stake of Érico Sodre Quirino, a private investor, and Roberto Tesch, founder and CEO of MOVA.

Digital grocery delivery startup Buymie nabs €7m in fresh funds

Buymie has raised €7 million to further grow its online grocery delivery startup and strengthen its ability to serve customers. The new capital injection will also help the startup expand in Ireland and the UK. The company is considering the possibility of expanding its footprint to approximately 200 more cities.

PayPal Vets Launch $158M Fund to Advance FinTech

PayPal veterans Jeremy Jonker, Jay Ganatra and Mario Ruiz have announced a $158 million Infinity Venture fund to help advance FinTech infrastructure startups, commerce enablement firms and others new businesses that align with its model and portfolio.

VGS Plaid Taps for Tokenization Services

Data privacy provider Very Good Security (VGS) is expanding its partnership with Plaid for tokenization services to better protect personally identifiable information (PII) and sensitive data. “VGS will provide PII tokenization and financial data backup services for Plaid customers. This will help ensure end-to-end data security for Plaid customers by seamlessly integrating VGS services alongside Plaid APIs.

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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORED CARDS – APRIL 2022

On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveyed 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.


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