RateSetter slashes interest payouts as P2P lenders rush for cover

RateSetter | May 05, 2020

The UK's biggest P2P lender RateSetter has slashed the interest rate paid to investors by 50% as it prepares for a wave of defaults under Covid-19.
The alternative lender says six percent of borrowers have requested a payment freeze and, as a result, it was increasing its projected loan losses from £27.5m to £39.2m.
RateSetter says it is diverting the saving from cutting interest rates to prop up its 'Provision Fund', which provides a financial safety net for investors in the face of a default.
The Fund is intended to protect all investors equally against credit losses and ensure a return based on the performance of the whole loan portfolio. The key metric for the Provision Fund is the Interest Coverage Ratio, with a Ratio above 100% meaning everyone’s future interest and capital is covered.

Spotlight

I’ve rounded up ten recent infographics on e-commerce and related issues, including delivery, social commerce, and how the use of colour affects purchase habits.Where possible, I’ve added the infographics to this post in a readable size, but for others you can click on the image to see a larger version.


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POS SOLUTIONS

Aircash Partners with Nuvei to Drive Further International Expansion

Nuvei | March 28, 2022

Nuvei Corporation, the global payment technology partner of thriving brands, announces today its partnership with Aircash, the leading Croatian mobile wallet. Nuvei will power Aircash’s expansion into further European countries by providing acquiring and payment gateway services, as well as over 530 alternative payment methods. “We’re excited to partner with Croatia’s leading mobile wallet, enabling users to quickly and safely digitize and use their cash. Our global acquiring capabilities and comprehensive alternative payment methods will help Aircash replicate achieved success in Croatia in other Central and Eastern European countries, such as Germany, Austria and Slovenia." Philip Fayer, Nuvei’s Chair and CEO The Aircash wallet allows users to deposit, store and use cash in a digital form. Users can transfer money between each other and pay for goods and services such as tolls, parking and telecom services. Money can be deposited in cash at existing point of sale (POS) locations such as gas stations and kiosks, or by using credit cards and bank transfers. Withdrawals can be made in cash at ATMs and POS locations, or can be transferred to other users’ EU bank accounts. “We are the only digital wallet people can use to pay for goods and services and transfer funds to other Aircash users from all over the world. Giving people more choice and the ability to deposit, store and use cash in a digital form, is key to the country’s economy and Aircash’s main proposition,” said Aircash CEO, Hrvoje Cosic. Due to significant growth within the Croatian market, Aircash is looking to expand their merchant partnerships in other European countries, to give users the ability to transfer funds cross border and pay for goods and services in the whole European Union as well. Nuvei’s solution will help Aircash to expand their pay-in and payout capabilities and enable alternative payment methods across Europe. “In the last six months, we’ve grown to surpass 350,000 overall users, transferring more than 35 million euros each month. Thanks to our partnership with Nuvei, we’ll be able to continue our journey of expansion into other European markets, giving our users the flexibility to pay for goods and services and transfer money across borders instantly and hassle-free,” Cosic added. About Nuvei   We are Nuvei, the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform provides seamless pay-in and payout capabilities, connecting merchants with their customers in over 200 markets worldwide, with local acquiring in 46 markets. With support for more than 530 local and alternative payment methods including cryptocurrencies, and nearly 150 currencies, merchants can capture every payment opportunity that comes their way. Our purpose is to make our world a local marketplace. About Aircash wallet Aircash wallet is a simple, fast and safe mobile payments application. It allows users to deposit and store their money in a digital form. Users can transfer money between each other, pay for goods and services such as lotteries, online games, tolls, parking, Playstation, telecom services and others. Money can be deposited in cash at existing POS such as gas stations, kiosks and others, by credit cards, bank transfers and can be withdrawn in cash at ATMs, deposit POS locations or can be transferred to users’ bank accounts. Aircash, as the first non-banking institution, become a Mastercard issuer and offers users to use the Aircash Mastercard prepaid card which is available at stores and kiosks, connected to Aircash wallet which enables users to pay for goods and services anywhere, in stores and online. About Aircash Aircash is an electronic money institution regulated by the European Banking Authority (EBA) with a license valid throughout the whole European Union. Aircash is an IT financial platform that enables the fast and secure transfer of money between Aircash users, in compliance with all relevant regulations, in particular procedures for the prevention of money laundering and terrorist financing.

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POS SOLUTIONS

springbig Announces Loyalty Integration With Greenline, Canada's Premier POS System

springbig | April 18, 2022

springbig, a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs to the cannabis industry, today announced a new integration with Greenline POS, one of Canada's largest fully-compliant cannabis retail point-of-sale (POS) platforms. This integration provides springbig with real-time consumer and retail insights at checkout and will allow retailers using Greenline's services to seamlessly access springbig's customer loyalty features. Greenline POS is currently used by over 700 cannabis retailers in Canada, processing over $70M in sales each month. springbig rewards and offers can be redeemed by customers via Greenline's POS system for a streamlined, frictionless retail experience. Customers using Greenline will also be auto-populated to springbig's platform and conversely, customers using springbig will be auto-populated to Greenline for seamless integration. "springbig's latest integration with Greenline underscores our dedication to improving and simplifying the cannabis shopping experience across North America," said Jeffrey Harris, CEO of springbig. "Through our integration with Greenline, customers can redeem rewards they've earned immediately at checkout and won't miss out on any opportunities for savings. We're impressed with the robust POS network Greenline has created, which has quickly become the gold standard in Canada, where we look forward to expanding our reach." "At Greenline, our goal is to help cannabis retailers grow. We are highly aligned with springbig in that journey by helping retailers connect with new and existing customers to promote loyalty and increase sales. We're excited to add value to our retailers and develop this relationship further." Albert Kim, CEO of Greenline springbig was recently named South Florida Business Journal's #1 Fastest Growing Company, was ranked #9 on the 2022 Inc. Southeast Regionals Fastest-Growing Private Companies and was ranked #69 on the 2021 Inc. 5000 Fastest-Growing Private Companies list. About springbig springbig is a market-leading software platform providing customer loyalty and marketing automation solutions to cannabis retailers and brands in the U.S. and Canada. springbig's platform connects consumers with retailers and brands, primarily through SMS marketing, as well as emails, customer feedback system, and loyalty programs, to support retailers' and brands' customer engagement and retention. springbig offers marketing automation solutions that provide for consistency of customer communication, thereby driving customer retention and retail foot traffic. Additionally, springbig's reporting and analytics offerings deliver valuable insights that clients utilize to better understand their customer base, purchasing habits and trends. On November 9, 2021, springbig announced that it entered into a definitive agreement for a business combination with Tuatara Capital Acquisition Corporation. The business combination is expected to close in the first half of 2022, subject to the approval of TCAC's shareholders, the filed Form S-4 (the "Registration Statement") being declared effective by the SEC, and other customary closing conditions and regulatory approvals. About Greenline Greenline is a compliant and scalable Canadian cannabis retail infrastructure provider, powering licensed cannabis retail operations across Canada with everything from in-store point-of-sale to online e-commerce with a strong marketplace of app integrations.

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POS SOLUTIONS

After the rapid growth in Egypt, OPay Group is targeting a major expansion in North Africa and the Arab region

OPay | February 28, 2022

Recently,"OPay" wins the best new POS payment service provider in Egypt for 2021 award from "The Global Economics". According to a press report published by Forbes Middle East magazine, OPay is one of the most prominent companies that have appeared on the electronic payments scene in Egypt as a result of support followed by the Egyptian state. It is also considered one of the fastest growing companies in the Egyptian market since its first launch in Egypt at the start of 2021, OPay Group quickly gained the confidence of thousands of merchants that utilize its points of sale (POS) to collect bills and other payments. Due to the steps taken by Egyptian President, Abdel Fattah El-Sisi, and the support provided by Tarek Amer, Governor of the Central Bank of Egypt, has paved the way for the faster digital transformation of the Egyptian banking sector. The country embraces digital transformation and cashless transactions. The international "OPay" group for financial technology services and electronic payments grow fast.Under Amer's leadership, the central bank has made the transition to cashless transactions easier, reduced the reliance on cash, and expanded the provision of mechanized services. The report mentioned that "OPay" Group was founded in 2018, and risen to become a top financial services provider, operating in Nigeria, Egypt, and Pakistan, the company's early success is credited to its dedication to making financial services accessible to everyone, and now the group is eyeing expansion across the rest of the Middle East and North Africa this year. This remarkable development achieved by OPay is due to the integrated services it provides to its customers, in addition to the ease of access to them, as the registration on the application or the electronic portal is done in smooth and fast steps, OPay is also becoming a major driver of financial inclusion in Africa, managing to fast track the adoption of digital services through cashless and contactless payments while also improving financial and information security. In particular, OPay's mobile payment service provides a convenient financial solution to the unbanked population in Africa, with 160 million active users currently generating around $3 billion in monthly transactions. The international "OPay" group confirmed that it provides a suite of bespoke, customer-centric financial solutions that include offline and online payment options and a digital wallet service using the power of AI. Notably, OPay's online gateway (OPay checkout) hosts a set of high-quality services, integrated solutions, and an excellent commission scheme, which enable small- and medium-sized businesses to achieve profit growth. OPay Group's continued success follows a $400 million funding round last August, which increased the company's valuation to $2 billion. The successful round motivated OPay to venture towards territories in North Africa - particularly Egypt, where the group has achieved monumental success in less than a year, delivering the best possible financial solutions for customers, merchants, and small and medium businesses, and OPay plans to expand to more territories by the end of the year, including the U.A.E. It also aims to enhance its current suite of financial services and adapt to new security standards to keep customer data safe and secure.

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POS SOLUTIONS

i95Dev’s Integrated eCommerce for Dynamics 365 ERP is Approved by Microsoft on AppSource

i95Dev’s eCommerce Growth Engine | February 15, 2022

i95Dev is happy to announce that eGe - Integrated eCommerce for Dynamics 365 ERP is now available on the Microsoft AppSource. i95Dev’s eCommerce Growth Engine (eGe) is a feature-rich, multi-channel, integrated eCommerce solution for Microsoft Dynamics and SAP ERP systems. Through Microsoft AppSource the product can now be leveraged by eCommerce businesses around the world. i95Dev is a Microsoft Partner Gold Partner and offers a wide range of products on Microsoft Cloud eCosystem. eGe is an out-of-the-box integrated commerce offering that helps business accelerate their time to market and render futuristic Customer Experiences with unmatched operational efficiency. eGe offers unparalleled features that: Expand your reach by integrating with marketplaces like eBay and Amazon. Provision advanced marketing and promotional tools for improved customer segmentation and targeting. Render responsive UI/UX assets Reduce cart abandonment rate with multiple shipping and payment options. Increase conversions and retention rates by sending personalized emails. Enforces efficient returns management “We understand our customers and their pain points in managing Microsoft Dynamics and Magento separately. And by implementing eGe for Dynamics Business Central, they can overcome these challenges to reduce time to market & gain operational efficiency”. -i95Dev’s CEO, Vanit Kumar About i95Dev: i95Dev is a global eCommerce agency that specializes in B2B/B2C integrated omni-channel Connected Commerce suite solutions. i95Dev’s Integrated Commerce Solutions are powered by industry-leading shopping carts (Adobe Magento, BigCommerce, and Shopify) and ERP Platforms. i95Dev’s eCommerce integration products with various ERPs, POS, CRM, mobile and social applications are globally recognized. Over 250+ Retailers, manufacturers, and distributors have leveraged i95Dev’s products and solutions to delight their customers and drive business process efficiency while maximizing their ROI. With a strong workforce of 300+ eCommerce enthusiasts worldwide, i95Dev has helped energize digital commerce initiatives of clients globally.

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Spotlight

I’ve rounded up ten recent infographics on e-commerce and related issues, including delivery, social commerce, and how the use of colour affects purchase habits.Where possible, I’ve added the infographics to this post in a readable size, but for others you can click on the image to see a larger version.

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