All posts tagged: payments

African fintech Moniepoint gets Visa backing, plans to work on contactless payments

African fintech Moniepoint gets Visa backing, plans to work on contactless payments

Published by skeptic

Visa has joined African fintech Moniepoint as a new investor. The business banking and payments platform confirmed to TechCrunch that it received a “strategic investment” from the global payments giant as both companies look to drive financial inclusion and support the growth of small and medium-sized enterprises (SMEs) across Africa. Sources close to the deal say the fintech – which announced a $110 million investment last October, received over $10 million from Visa. The fintech, whose Series C now exceeds $120 million, is reportedly in talks with other investors and may attract more funding in the coming months, all while maintaining its billion-dollar valuation, sources say. Moniepoint declined to comment on the size of Visa’s check or interest from other investors.  Moniepoint provides businesses and individuals with banking accounts, credit, payments, and other financial tools through an app and a network of agents. The fintech now processes over 1 billion transactions monthly, with total payment volumes reaching $22 billion—a growth of over 25% in under three months. Its rapid rise began during Nigeria’s Central Bank …

How to Send Cash | WIRED

How to Send Cash | WIRED

Published by skeptic

So you need to send some money. Maybe you want to slip a couple of $20 bills in a birthday card. Maybe it’s a larger payment for some not-at-all-sketchy, off-the-books services rendered. Either way, it can be a pain to send paper money without having to worry that it might mysteriously slip out of your envelope into someone else’s pocket. “Sending cash physically via mail or something is probably one of the least efficient options for moving money around,” says Kevin L. Matthews, a financial advisor who has offered money advice for WIRED before. “It’s not necessarily something that I would recommend.” The problem, he says, is that if something goes wrong and the cash goes missing, there’s really nothing you can do about it. There are better ways to transfer finances, but if you absolutely have to get your coins from one piggy bank to another, here are the best ways to do so without getting ripped off. Don’t Get Scammed To be clear upfront, you should not just stick a wad of cash …

‘Parachute payments’ could help schools cope

‘Parachute payments’ could help schools cope

Published by skeptic

New “parachute payments” could help protect schools from the financial implications of falling rolls, a report has proposed. Primary pupil numbers have been dropping nationally since 2019, and secondary numbers are due to peak in 2026 before falling, as a population bulge caused by the 2000s baby boom makes its way through the education system. As most school funding is allocated on a per-pupil basis, this has put primary schools at risk of closure, particularly in London. The effects of Brexit, emigration and the cost of housing has prompted a steeper drop in numbers in the capital’s schools. The National Foundation for Educational Research said councils nationally expected primary pupil numbers to fall by 4.5 per cent between 2022 and 2028. In inner London, the drop is expected to be closer to 12 per cent. Schools can get falling rolls funding from the government, but only if they can demonstrate that pupil numbers are expected to rise within three to five years. The NFER said this stipulation “is likely to mean most schools with falling …

The schools already flexing TLR payments

The schools already flexing TLR payments

Published by skeptic

More from this theme Recent articles Trusts are already deviating from national pay and conditions to more “fairly” reward part-time teachers for extra leadership and management responsibilities, as the government considers a shake-up. Education secretary Bridget Phillipson this week commissioned a review of teaching and learning responsibility (TLR) payments, which can add up to £16,000 to teachers’ pay for taking on extra roles. She asked the School Teachers’ Review Body (STRB) for a recommendation on whether changes to the pro rating of TLR payments should be made to enable “greater flexibility”. The school teachers’ pay and conditions document (STPCD), which must be followed by maintained schools and is observed by many academies, states that certain TLR payments “must be paid pro rata” for part-time staff. Unions have lobbied for that to change, warning the arrangements are “unfair, unethical and potentially unlawful”. And, while many leaders stick rigidly to TLR conditions, Schools Week has spoken to trusts that already make exceptions to correct “unhealthy flexible working arrangements” and boost retention. Saving thousands Rebecca Cramer, CEO of Reach Schools …

The plan to save European farming – POLITICO

The plan to save European farming – POLITICO

Published by Sam

On the other hand, this income-based program should not depend on whether farmers comply with additional environmental rules — meaning those that go beyond existing EU law, such as nitrate pollution or habitat protection rules. Instead, a separate set of payments should be distributed among farmers that use sustainable practices, and would be handled by both agricultural and environmental authorities. The participants also asked for an “annual substantial increase” in environmental support. Business as usual is no longer an option for European farmers. | Chrisophe Archambault/Getty Images 2. Sustainable food systems The next two elephants in the room were sustainable diets and meat consumption. The experts agreed that it was crucial to support ongoing reductions in the consumption of animal-based proteins — e.g. meat and dairy — in favor of plant-based alternatives.  They also called for a review of EU food labeling legislation and urged that food marketing to children be addressed, while advocating tax reductions and other social and fiscal incentives. “The sustainable choice needs to become the choice by default,” the report said. …

Payoneer scoops up Skuad, Robinhood’s strong Q2, and X is making progress on payments

Published by skeptic

Welcome to TechCrunch Fintech! This week, we’re looking at Payoneer’s $61 million acquisition of Skuad, Robinhood and Dave’s second-quarter results, X’s progress on its payments and more. To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday at 8:00 a.m. PT, subscribe here. The big story Last week, I got the scoop on publicly traded fintech Payoneer acquiring Singaporean startup Skuad for $61 million in cash, with the potential to pay up to $81 million. This was a pretty fast exit for Skuad founder Sundeep Sahi, who launched the company in 2019 with the aim of simplifying international hiring and had raised $19 million in venture funding. Both Payoneer and Skuad are geared toward SMBs that operate internationally, particularly in emerging markets. Notably, rather than build out the tech itself, Payoneer decided to acquire Skuad and integrate its payroll and contract management products into its own offering. Analysis of the week A couple of publicly traded fintechs posted strong results last week. Robinhood beat its second-quarter earnings …

How I spotted a gap in the market for ‘healthy, tasty, easy’ cuisine | Power Up Your Payments With PayPal

How I spotted a gap in the market for ‘healthy, tasty, easy’ cuisine | Power Up Your Payments With PayPal

Published by skeptic

When Craig Allen began driving around Manchester 12 years ago selling steam-cooked chicken direct to gyms, he was laying the foundations for a frozen food brand that has resonated with consumers thanks to its focus on healthier eating. With his interest in wellness and nutrition, and experience working for his dad in the meat trade, when Allen saw steam-cooked chicken being sold to restaurants to save on cooking time, he decided it was a healthy, convenient product that consumers should have access to as well. And so GSN – Gold Standard Nutrition – was born. The company began with 10 repurposed freezers, which he branded with the GSN logo. Allen drove to independent gyms in an old supermarket truck to persuade them to host his freezers, and then provided regular deliveries of steamed chicken. Buoyed by early success, he expanded into ready meals, focusing on “healthy, tasty, easy” cuisine. GSN believes it was the first company to put food into gyms and to create ready meals in a distinctive takeaway-box format – moving away from …

Pay it safe: how sales can rise when customers feel their online payments are secure | Power Up Your Payments With PayPal

Pay it safe: how sales can rise when customers feel their online payments are secure | Power Up Your Payments With PayPal

Published by skeptic

Small business owners navigate a whirlwind of tasks, perpetually racing against the clock. In their relentless pursuit of efficiency and security, they’re constantly on the lookout for streamlined and economical solutions, especially in the realm of payments processing. They routinely face a myriad of challenges, from attracting new customers and managing cashflow to driving sales. Among these challenges, one puzzle stands out: the elusive process of converting prospects into loyal customers. According to the 2024 PayPal e-Commerce Index1, two-thirds (66%) of British consumers have abandoned a sale at checkout. The top reasons for doing so were because the payment process took too long (24%), security concerns (27%), and simply because the site didn’t offer their preferred payment method (24%). Globally, cart abandonment may be even higher – the online user experience researchers Baymard Institute put it at 70% – that’s a lot of lost sales. For companies to clinch sales, and drive profitability and growth, customers seek payment security and a choice of ways to pay. Many businesses are finding the solution to these needs …

Seven ways online businesses may lose customers – and tips on how to win them back | Power Up Your Payments With PayPal

Seven ways online businesses may lose customers – and tips on how to win them back | Power Up Your Payments With PayPal

Published by skeptic

As a business, you invest a huge amount of money, time and effort in attracting your target audience. The last thing you want is to lose customers at the final hurdle. Selling online provides a valuable revenue stream, but today’s time-strapped consumers expect a lot from their buying experience and are easily distracted by offerings from other brands. So, what potential areas could be affecting your business online, and what steps can you take to address them?1 1 A complicated checkout experienceThe global cart abandonment rate is an astonishing 70%, according to the online user experience researchers Baymard Institute. That’s 70% of users abandoning their filled baskets before checking out – a lot of lost sales. As a business, it’s beneficial to make your checkout as simple as possible. The 2024 PayPal e-Commerce Index reports that 18% of those surveyed had abandoned baskets because they felt checkout was too difficult, and 24% hadn’t completed a purchase because their preferred payment method wasn’t available. The founders of the condiment company Sauce Shop say they have been …