Connect with us

Fintech

Payhawk Launches One Click Bill Payments and Reimbursements Powered by Railsbank

Published

on

Payhawk, the only end to end financial system that combines credit cards, payments, and expenses into one integrated experience, announces the launch of one click bill payments and reimbursements powered by a partnership with Railsbank, the leading global Banking-as-a-Platform (BaaS) platform.

Payhawk also joins the Xero App Marketplace with a live bank feed to fully automate reconciliation of all company payments.

With the release of one-click bill payments and reimbursements, Payhawk empowers finance teams to use a single system for all company spending – cards, bills and reimbursements. And with the addition of the Xero live bank feed all data is reconciled in real-time within their accounting system. A full-circle experience from swipe to books.

Hristo Borisov, Co-founder and CEO at Payhawk, said: “Finance teams are forced to use a set of disconnected tools to manage all of their company spending. One provider for company cards, another for expense reports for employees without cards, and a third for approval of supplier invoices. Finance managers of fast growing companies can now use a single integrated experience to manage company spending in an efficient and automated way that makes the month end closing a matter of hours instead of weeks. We are becoming one of the most essential tools for the finance department at fast growing companies.”

Louisa Murray, Railsbank COO UK and Europe, added: “We are delighted to be a partner of the Payhawk team who are pioneers in the financial services arena. We have worked closely together with them on this latest innovation and believe it will be welcomed by finance teams who will quickly see the potential of a one click bill payments and reimbursements functionality. Payhawk is contributing hugely to how finance teams operate nowadays.”

Imran Chagpar, Head of Finance at By Miles, said: “At By Miles, we have been using Payhawk fully automated system to manage all company cards, and we are excited to use the upcoming bill payments feature. We are looking forward to working with a complete accounts payable solution that is integrated with Xero providing a fully automated experience. Payhawk is at the center of our strategy to automate expenses, credit card and supplier invoices in a single system in an efficient and easy way without adding extra headcount.”

Payhawk’s new payments system supports SEPA Instant and Faster Payments, and also comes with its own dedicated IBANs for customers which is essential for receiving third-party payments.

Finance managers will also be able to configure multi-level approval workflows and smart-approval rules that ensure all payments are compliant with the internal spend policies. The new feature will be available for all existing Payhawk customers on March 29.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Continue Reading
Comments

Fintech

RobinHood, WeBull, Others Trading Apps Hit 14 Million Users Globally, Twice More than a Year Ago

Published

on

Trading App - Investors King

Over the past years, trading apps have revolutionized the way people interact with the world’s financial markets and stock exchanges, making it simple and easy to trade online, whether at home or on the go. The number of people using these apps to make investments and monitor market trends has grown constantly each year, but in 2021 it surged to all-time highs.

According to data presented by BuyShares, RobinHood, WeBull, Fidelity Investments, E*Trade and eToro, as the world’s top five trading apps, doubled the number of users in the last year to nearly 14 million as of July.

RobinHood Hit 7.3M Monthly Active Users, Double the Second-Ranked WeBull

Stock trading has been moving to mobile for quite a while, and tech companies have been working on well-designed trading platforms to provide top-notch service to a new, tech-savvy set of users. That shift first started in the United States, where Robinhood has attracted tens of millions of users. On the other hand, the European market is still fragmented, with a handful of stock-trading apps slowly expanding to new markets.

According to AirNow data, RobinHood is by far the most popular trading app in the world. In July 2020, the app had around 4.3 million monthly active users. However, user numbers spiked in the first half of 2021, reaching a peak of over 9 million in May 2021. In July, around 7.3 million people worldwide used RobinHood to trade and make investments, 70% more than in the same month a year ago.

With 2.7 million monthly active users, or twice less than the leading RobinHood, WeBull ranked as the second most popular trading app globally. However, statistics show WeBull witnessed the biggest growth, with the number of users surging by 265% year-over-year.

Fidelity Investments ranked third with 1.8 million active users, 38% more than in July 2020. Morgan Stanley’s E*Trade and eToro followed, with 1.1 million and 1 million monthly active users, respectively.

RobinHood Reached 11.9M Downloads in 2021, Close to Other Top Four Apps Combined

Stock trading app developers are constantly innovating and adding new features to make portfolio management easier to do on the go. For example, many of the latest-gen trading platforms now feature AI-based tools to help users evaluate investment risks.

Besides having the largest user base, RobinHood also witnessed the biggest number of downloads this year. In the seven months of 2021, the trading app was downloaded 11.6 million times, close to the other top four apps combined, with almost one-third of all downloads happening in January.

WeBull was downloaded 5.6 million times in this period, 2.3 million more than the third-ranked eToro. Fidelity Investments and TD Ameritrade round the top five list, with 1.9 million and 1.2 million downloads, respectively.

Continue Reading

Fintech

Verve Partners OBMEET To Give Cardholders 50% Discount

Published

on

Verve-Investors King

In furtherance of its drive to strengthen the payment landscape across the globe, Africa’s leading payment technology and card business, Verve, has announced its partnership with OBMeet, a video conferencing and networking company, to give Verve cardholders a 50% discount on the platform.

The discount which is currently running till December 31, 2021 avails Verve cardholders added value for the services they enjoy on the OBMeet platform.

With this collaboration, Verve cardholders accessing the OBMeet no longer have to worry about the incidental challenges associated with such video conferencing and multi-streaming platforms, such as complex payment structure, capital flight, inconsistent exchange rates etc.

Speaking on the discount, Cherry Eromosele, Group Chief Marketing and Communications Officer, Interswitch Group, said the partnership with OBMeet to reward Verve cardholders with a 50% discount on the selected packages is a demonstration of Verve’s commitment to reward its cardholders’ loyalty.

Eromosele said the firm is stirred to partner with OBMeet because they share a similar vision of delivering an invaluable experience to their esteemed customers.

She explained that the partnership will guarantee Verve cardholders faster and safer payment experiences on the OBMeet platform.

She said: “Consistent with our mantra of being ‘the rewarding way to make payments’, Verve cardholders are not only rewarded with seamless, faster, and convenient payment solutions, but they also enjoy more rewards in discounts as much as 50% on the OBMeet platform, from now till December 31, 2021.”

Vincent Ogbunude, Divisional Head of Verve, commented on the firm’s commitment to delivering top-notch digital payment solutions to Nigerians.

“It is no gainsaying that Verve has consistently delivered innovative payment solutions to Nigerians and the Africa continent.

“We are continuously seeking opportunities to ease payment pain points for Verve cardholders as well as Africans and this partnership with OBMeet is a testament to that commitment.

“We are confident that our cardholders will enjoy seamless payment on the OBMeet platform and the 50% discount offer is added value to the invaluable payment experience the Verve card provides,” he said.

Speaking on the partnership, Emmanuel Gabriel, founder of OBMeet stated that the collaboration is instrumental for companies, institutions, content creators, Small and Medium Enterprise, entrepreneurs to overcome the many challenges of capital flight, complex payment systems inherent in accessing video conferencing and multistreaming platforms.

He said: “Our focus is to give everyone around the world the opportunity to connect, build ideas and express themselves in a new way.

We are focused on creating economic value via the OBMeet communication platforms which bridge communication gaps and language barriers around the world.”

Continue Reading

Fintech

Flutterwave, MTN Partner on Mobile Money

Published

on

Flutterwave - Investors King

Flutterwave, Africa’s payment technology company, has announced a mobile money partnership with MTN Group, that will allow businesses that are integrating Flutterwave in Cameroon, Côte d’Ivoire, Rwanda, Uganda and Zambia, to receive payments via MTN Mobile Money, called MoMo.

MTN MoMo is a fintech platform providing consumers and businesses with an electronic wallet, enabling electronic transfers and payments as well as access to digital and financial services.

At the end of June 2021, MTN MoMo had 48.9 million active users and 581,514 merchants. MoMo enables businesses to accept and make payments within the mobile money ecosystem. The new partnership will enable Flutterwave to offer MTN Mobile Money as a payment method to its business customers.

In recent years, Africa has witnessed an explosion in mobile penetration as smartphone adoption has risen rapidly. According to the GSMA, this year, Africa would hit the half a billion mark of unique mobile subscribers and the continent would reach 50 per cent subscriber penetration by 2025. The sub-Saharan Africa alone is responsible for more than 45 per cent of the world’s mobile money accounts with the number of account holders exceeding half a billion by 2020, as shared on Statista.

Through the partnership, MTN and Flutterwave will positively contribute to this trend by increasing mobile money usage and penetration in Africa to improve local economies and livelihoods as well as create opportunities for individuals and businesses across the continent.

Commenting on the partnership, Founder and CEO of Flutterwave, Olugbenga Agboola, said: “Africa has one of the highest growth rates for mobile money adoption and e-commerce in the world. It makes sense that we help provide a seamless payment method to support and ensure African businesses reap the full benefits of the e-commerce boom in the region. Our goal has always been to grow a new wave of prosperity in Africa by creating more avenues for businesses in Africa to accept payments. With this partnership, we can achieve this while creating endless possibilities for our customers.”

Group Chief Digital and Fintech Officer at MTN, Serigne Dioum, said: “As we progress on our journey to becoming the largest fintech platform in Africa, we will empower millions of businesses to embrace e-commerce in our markets to accept digital payments from MoMo consumers. We believe this is an enabler to accelerating digitized payments in Africa. Building strong ecosystems through partnerships is central to our platform strategy and we will continue to invest in expanding the reach of our platform to consumers and businesses in Africa.”

The new partnership will further expand on Flutterwave’s previous collaboration with MTN, beyond Uganda and Rwanda, with the potential of deepening adoption of digital payments and e-commerce in Africa, a sector expected to reach $29 billion by 2022, according to Statista.

Continue Reading




Advertisement
Advertisement
Advertisement

Trending