| Global | Google partners with Coinbase to accept crypto payments for cloud services. The global tech giant has partnered with Coinbase, a leading cryptocurrency platform, to enable Google Cloud customers to pay with cryptocurrencies, starting 2023. In addition to the payments integration, Google will also leverage Coinbase's cryptocurrency custody tool for managing crypto balances. CNBC |
| | EDITOR'S NOTE | This could be quite beneficial to customers in emerging markets who are experiencing FX liquidity challenges. While there are certain restrictions with cryptocurrencies, especially in certain African countries, this improves payment optionality for users who have access to crypto but not enough USD. |
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| Egypt | Geidea partners with Visa to launch payment solutions in Egypt. Geidea, a leading provider of offline payment solutions in the MENA region, has partnered with Visa to launch new point-of-sale solutions in Egypt. Geidea, which launched in Egypt in 2021, will leverage its network of merchants to offer offline payment methods like Tap-to-Phone. Waya Media |
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| Global | Fraud and cyber-threats in digital payments. Global payments network, Visa, has released its biannual report on cybersecurity threats and fraud trends in digital payments. Visa |
| | EDITOR'S NOTE | For a more rounded opinion on the fraud security landscape in digital payments, this Visa-sponsored survey by MIT Technology Review on digital payments should make for good reading. |
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| Egypt | Telda raises $20 million in seed funding. Telda, an Egypt-based consumer wallet and payments app, has raised $20 million in a seed round. The fintech recently obtained final approval from the Commercial Bank of Egypt and has issued about 25,000 cards to customers. The seed round was led by Sequoia Capital and Global Founders Capital (GFC) and will be used to deepen the product’s adoption in Egypt. TechCrunch |
| | EDITOR'S NOTE | We wrote about Telda’s $5 million pre-seed raise in 2021. |
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| Africa | Pillow completes $18 million Series A round. Pillow, a Singapore-headquartered USD and Defi savings app, with the majority of its operations in Nigeria, has completed an $18m Series A fundraise. The round was co-led by Accel and Quona Capital, with participation from other investors. Techcrunch |
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| Egypt | FlapKap raises $3.6 million in seed funding. Egypt’s FlapKap, which provides credit solutions to ecommerce businesses, has raised $3.6 million in funding from Bolt by QED, NClude, and other investors. The company, which reported 200% MoM growth in funds disbursed, will use the new funding to drive expansion in the MENA region. TechCabal |
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