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PayU, Fintech Firm Purchases maximum Stake of Red Dot Payment

PayU, the fintech company owned by Nasper, is expanding its business in Southeast Asia through a deal. The firm announced about a new deal of purchasing a majority stake in Red Dot Payment firm.

Red Dot Payment is a Singapore based firm that offers online payment solutions across Southeast Asia. The company was founded in 2011 by payment experts. The Red Dot Payment services include e-commerce storefronts, payment gateway, and online invoicing throughout Southeast Asia. The company offers integrated online payment solutions to customers in Asia. The company has offices in Thailand and Indonesia.

Naspers is widely known for its payments and fintech services in markets of India, Eastern Europe, Africa, and Latin America. Now the firm will establish its presence in Southeast Asia through PayU. PayU has taken a maximum stake in the Red Dot Payment firm. The deal with the online payment solution provider is valued at $65 million.  Red Dot Payment’s founder, Randy Tan, will hold shares of the online payment company and other shareholders will quit.

The total fund raised by Red Dot Payment firm from investors is not disclosed, but through Series B in 2017, it raised around $5.2 million. The company is supported by GMO of Japan, co-founder of Skype, Toivo Annus, Wavemaker and MDI Ventures.

This deal will allow PayU to expand its business across Southeast Asia and also enables the firm to bring the total amount invested in M&A and fintech investment to over $700 million from 2016.

PayU said in a statement regarding to its investment in the Red Dot Payment, “to becoming the leading payments solution provider in high-growth markets” and the largest fintech investor throughout the world.

PayU, Nasper-investor and South Africa’s headquartered, Internet group will merge platforms of RPD into the PayU Hub.

As per Google-Temasek report, Southeast Asia will notice around $240 billion by 2025 in total payments size, and around 350 million internet users in six largest nations.

PayU CEO, Laurent Le Moal said, the investment of PayU in Red Dot Payment is the foremost step for growing its business in Southeast Asia.

Laurent le Moal mentioned, “We will now provide our existing global merchants access to Southeast Asia with single API integration, thus strengthening our global PayU Hub platform. Owing to the immense potential that the SEA market presents, PayU sees a vast opportunity in this region to grow and innovate further.”

Red Dot Payment CEO, Randy Tan shared his thoughts on the deal,

“We are pleased that Red Dot Payment will be part of the Naspers’ fintech portfolio as we look forward to the continued extension of our business and market position in Southeast Asia to be the fintech payment solutions champion in this region.” 

Red Dot Payment has rejected three proposals of acquisition earlier. PayU offers services across the world and includes more than 300,000 merchants also adds Google and Facebook to its list, he stated.

PayU is the number one business provider in India, and the firm is rapidly expanding in Europe and Latin America, biggest markets in Africa but no presence in Southeast Asia’s region, le Moal mentioned.

In 2018, Red Dot Payment (RDP) established its presence in the African market by sealing a memorandum of understanding (MoU) with Finserve Africa. De Mol mentioned that PayU also aims to offer services in Japan and Korea.

How FinTech is Accelerating Positive Transformation of Banking in Africa? Is Going to Defined by Industry Leaders at Finnovation Kenya 2019

Finnovation Kenya 2019, which willbe held on the 18th June 2019 at the Mövenpick Hotel Nairobi, will gather international FinTech experts and leaders together with African pioneers, investors, government policymakers, entrepreneurs and leading bankers to harness the FinTech revolution to boost strategic economic priorities such as financial inclusion – and how FinTech can make a positive and profitable difference in Africa. The event will also explore how the major banks and financial institutions on the continent are addressing the digital transformation of financial services and how their own digital innovations are being shaped and accelerated as a result of the gathering momentum of FinTech disruptors, register at Finnovation Kenya 2019.

The unique environment for financial services in Africa is fertile ground for innovative FinTech players who are capitalising on the opportunities to disrupt or leapfrog established business models to make financial services more affordable, accessible and profitable across the continent. Finnovation Kenya 2019 is delighted to welcome a stellar list of keynote speakers, including Chris Principe, CEO of Solidus Global, Ltd and Publisher of FinFuture & Financial IT; Jeremy Awori, Managing Director Barclays Bank of Kenya Ltd; Billy Owino Chief Executive Officer TransUnion; Wyckliffe Shamiah, Director Market Operations of Capital Markets Authority; Timothy Nuy, Chief Executive Officer MyBucks; Declan Magero, Founding Partner of Afrinet Capital; Mumo Musembi, Group Chief Business Officer of Cellulant. The opening keynote session will define directions on Aligning the Role of Government Policymakers, Banks, FinTech Innovators, Investors, Multilateral Agencies, MNOs and the Private Sector to Advance the FinTech Ecosystem in Africa.

Chris Principe, CEO of Solidus Global, Ltd and Publisher of FinFuture & Financial IT, speaking ahead of his participation in the event, said that: “A very positive story, if one that is not yet well understood, is unfolding in Africa. New technology, new ideas and new business models are producing new opportunities. The distinctions between telecom services providers, payments services providers and financial institutions are breaking down. In virtually all African countries, there are sufficient numbers of mobile phones ‐ which are not necessarily smartphones ‐ for previously unbanked people to have access to high quality financial services at low cost. Innovative companies are using Blockchain technology and crypto currencies to resolve fundamental problems such as lack of access to electricity and lack of access to global financial markets. Finnovation Africa highlights how FinTech is transforming Africa for the better, facilitating payments, boosting financial inclusion and developing new enterprises. However, the conference does much more than that, as it engages key stakeholders to reveal how the entire world is changing. In many ways, Africa is a FinTech leader, rather than a follower.”

Finnovation Kenya 2019 will also provide a platform to connect innovative start-ups with leading investors in the African FinTech space and the Wolves’ Den session is one of the most dynamic features of the event. The Wolves’ Den enables innovative FinTech start-ups and trail-blazers to real-time test the positive impact of their solutions. A panel representing savvy Investors/Venture Capitalists and seasoned African Fintech Pioneers will evaluate the business model of each chosen start‐up or trail‐blazer in a high-stress 10 minute “elevator pitch” to the “Wolves” who will ask the tough questions and provide the illuminating insights.

Speaking ahead of his participation in Finnovation Kenya 2019,  Victor Ndlovu, Country Manager | Senior Business Leader of Visa said that, “Kenya is at the forefront of leading that digital payments revolution and for us (card payments firms), that depends on how we push. With all these digital options, and considering Nairobi is the world capital for mobile payment innovation, Digital payments are preferred because of convenience, reduced transactional cost, and speed of execution — compared to manual or cash-handling processes. We monitor trends around and appreciate that East Africa has adopted the mobile more than it has adopted cards, so it actually becomes very effective to be able to reach that segment. At Visa, we are keen on being part of the everyday life of our customers. With the ever-changing face of monetary transactions: cards and online dealings, customers have become more tech savvy, decisive and particular about their overall experience while transacting. To this end, Visa’s operations in Africa are firmly based on bringing about innovative products that promote safe and convenient transactions. Industry leaders from across the African and global FinTech industry will gather at 2nd Edition of Finnovation Kenya to harness the growing momentum around digital financial services into more inclusive and productive economies across the world”.

From the perspective of a leading banker, Jeremy Awori, Managing Director of Barclays Bank of Kenya Ltd, reinforced that “the rapid growth of FinTech on the continent is driving both the disruption and leapfrogging of legacy systems and is further accelerating the digital transformation of financial services across Africa.

As a bank, our innovation and digitization agenda is in top gear and is aimed at moving the bulk of transactions to channels such as mobile banking, Internet banking and agency banking in order to increase customer convenience. We have recently launched our pioneer virtual banking proposition, Timiza, which offers our customers a platform to conduct their financial transactions ranging from borrowing, saving, bill payments and funds transfer etc from the comfort of their mobile phones.

I look forward to participating in Finnovation Kenya 2019 and engaging with FinTech pioneers from across the continent to address how FinTech is contributing to the positive transformation of financial services in Africa.”

Finnovation Kenya 2019 will take place at the Mövenpick Hotel Nairobi, Kenya on the 18th June 2019 and will gather all stakeholders and influencers in the African FinTech ecosystem, from innovative start-ups to banking powerhouses, representing the key markets across Africa and internationally.

Register for the Event At https://bit.ly/2HG4ZTL

FFCON19 FEARLESS to Address the Challenges and Successes of Entrepreneurs and Innovators in the Vanguard of Transforming the Financial Industry

The National Crowdfunding & Fintech Association (NCFA), the non-profit cross-body organisation that promotes and supports fintech and funding throughout Canada, is proud to announce additions to the speaker line-up and programme for its flagship Fintech and Financing Conference – FFCON19: FEARLESS – taking place in Toronto April 3-4.

Now in its 5th year, FFCON19 will bring together prominent industry experts, entrepreneurs, professionals, regulatory bodies and ecosystem stakeholders in fintech, blockchain, crypto, AI, capital markets innovation and alternative finance to discuss Canadian fintech and its ability to innovate and globally compete, the latest industry developments, emerging regulation, trends and thought leadership in a fearless framework and forum.

The two-day event will feature inspiring keynote addresses and panel discussions with industry leaders, pitching competitions, awards, and prime networking opportunities.

Prominent speakers include The Honorable Bill Walker, Minister of Consumer and Government Services, Ontario, and steward of the Province’s new Data policy; and Teri Kirk, Founder & CEO of Funding portal who will discuss Open Data vs. Proprietary Data, examining public and private sector values, views, and issues.

Notable investors speaking at FFCON19 include Robert Antoniades General Partner and Co-Founder Information Venture Partners, Karim Gillani General Partner Luge Capital, Christian Lassonde Founder & Managing Partner Impression Ventures, Russell Samuels Partner Whitecap Venture Partners, and Sunil Sharma Managing Director Techstars Toronto.

FFCON19 is very honored to have such influential speakers at this year’s conference,” said Craig Asano, Founder and CEO of NCFA. FFCON is proving to be an increasingly important event for promoting innovation in the fintech and funding industry in Canada. The support and contributions of these authoritative leaders will serve to further advance innovation in the sector.”

Among the featured entrepreneurs and innovators sharing their FEARLESS strategies for innovation and growth are Anthony Di Iorio Co-Founder, Founder & CEO of Ethereum, and Jaxx & Decentral; Dr. Dan Rosen Chief Executive Officer d1g1t Inc., the enterprise financial technology company serving the wealth management industry; Eli Fathi President and CEO Mindbridge AI, recognised as a CIX Top 20 in 2017; and Toufi Saliba Founder and CEO TODA Network.

Keynotes and Program Speakers:
  • Hon. Bill Walker, Minister of Government and Consumer Services Ontario
  • Alan Wunsche, CEO & Chief Token Officer, TokenFunder
  • Ali Pourdad, CEO, Progressa
  • Andrew Dix, Co-Founder & CEO, Crowdfund Insider
  • Anthony Di Iorio, Founder & CEO, Decentral & Jaxx | Co-Founder, Ethereum
  • Bernd Petak, Investment Partner, Northmark Ventures
  • Brice Penaud, Founder & CEO, Commercial Passport
  • Bruce Silcoff, CEO, Shyft Network International
  • Bryan Uyanwune, Co-Founder & CIO, Korapay
  • Charlene Cieslik, Chief Anti Money Laundering Officer, Coinsquare
  • Denise Hearn, Co-Author, The Myth of Capitalism
  • Denise Weeres, Director, New Economy, Alberta Securities Commission
  • Dr Dan Rosen, CEO, d1g1t Inc.
  • Eli Fathi, CEO, Mindbridge AI
  • Eytan Bensoussan, Co-Founder & CEO, NorthOne
  • Hussein Hallak, CEO & Co-Founder, Next Decentrum
  • Iliana Oris Valiente, Managing Director, Canada, Innovation Hub & Blockchain Lead, Accenture
  • Jason Saltzman, Partner, Gowling WLG (Canada) LLP
  • Jennifer Reynolds, President & CEO, Toronto Finance International
  • Muhammad Rashid, Co-Founder & CEO, Moregidge
  • Peter-Paul Van Hoeken, Founder & CEO, FrontFundr
  • Robert Antoniades, General Partner & Co-Founder, Information Venture Partners
  • Russell Samuels, Partner, Whitecap Venture Partners
  • Safwan Zaheer, Head of Fintech (US), KPMG
  • Sharon Zohar, Founding Partner, The Big Push
  • Shidan Gouran, President, Global Blockchain Mining Corp.
  • Teri Kirk, Founder & CEO, Funding Portal
  • Toufi Saliba, Founder & CEO, TODA.network

The growing list of speakers can be found at the conference speaker page.

The Programme

Day 1 will feature an afternoon program of interactive sessions to discuss topics key to industry growth, regulatory challenges in fintech sectors, and advanced workshops such as applying design thinking to develop consumer-centric, data-driven products followed by a VIP networking reception at Gowling WLG (Canada) LLP.

Day 2 will feature the full day FFCON19 conference that showcases new technologies and fresh thinking around challenging topics from open banking, digital securities, crypto commodities and investment crowdfunding to the latest developments in AI finance models and enterprise blockchain adoption, use cases and projects. Twelve people’s choice emerging fintech start-ups will pitch and the main stage will host a consultation with the Ontario Government, CSA Regulators and fearless dialogues on Canada’s ability to innovate, compete, grow and sustain industry.

The full agenda can be accessed on the FFCON programme page and interested parties are invited to cast their vote for the most innovative emerging fintech start-ups they would like to see pitch on the main stage.

New for 2019

Building on the success of last year’s sold-out conference, NCFA has expanded this year’s program with the formal launch its inaugural Global Fintech Education program for entrepreneurs in conjunction with Next Decentrum Technologies. Attendees will get an exclusive first look at the program and VIP attendees will receive complimentary enrolment with conference registration.

Supporting Start-Ups

To promote innovation and funding for early stage companies FFCON19 is offering start-ups discounted tickets which can be applied for via this link:

Registration

Registration for FFCON19 is open. Learn more at https://fintechandfunding.com/tickets/

About the NCFA

The National Crowdfunding & Fintech Association (NCFA) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain and cryptocurrency, Regtech, and Insuretech sectors. To learn more about NCFA visit www.ncfacanada.org

About FFCON19: FEARLESS

FFCON19 (2019 Fintech and Financing Conference) is an annual conference hosted by Canada’s National Crowdfunding and Fintech Association (NCFA). Now in its fifth year, FFCON19 will bring together professionals and innovators in fintech, blockchain, cryptocurrency, and alternative finance. The theme of FFCON19 is FEARLESS which exudes the boldness of the fintech space where small players are challenging orthodoxy, going against convention and transforming the financial industry with innovative models and thinking. The event is being held April 3-4 in downtown Toronto. #FFCON19

Further information about the conference can be found at www.fintechandfunding.com

The New York Crypto Digital Space Conference is set to provide unprecedented insights for the Cryptocurrency landscape

The Crypto Digital Space Conference to be held at the Downtown Conference Center in New York on 17th of May 2019 will feature a premier speaker lineup of renowned cryptocurrency and technology experts that will cover a great range of innovative and exploratory topics, as well as the surging questions pulsing throughout the cryptomarkets today. The event will be hosted by the international financial consultancy company Storm-7 Consulting in partnership with the boutique market intelligence firm OTC Partners.

The attendees will be provided with an examination of the latest Cryptocurrency strategic implications, trends, investment strategies, investment factors and cryptocurrency usages and will benefit from a much more in-depth understanding of how Cryptocurrencies operate, the risks involved and the upcoming regulatory developments.

During the four sessions, the conference will explore in-depth areas such as the efficiencies within the global digital currency markets, the opportunities of dislocated markets, the challenges and solutions of maintaining consistent liquidity within turbulent digital markets, the technology solutions for delivering and managing digital assets and navigating the digital asset marketplace; the future of Artificial Intelligence (AI), machine learning and the Cryptocurrency markets and many others.

The speakers include:

  • Robert Savage – CEO, CCTrack Solutions, LLC
  • Zura Kakushadze – Ph.D., CEO, Quantigic® Solutions. Author, “151 Trading Strategies”
  • Vladimir Danishevsky – Head of Corporate Bonds Flow eTrading IT, Citi
  • Michael Petersohn – Co-Founder, ARC FinTech
  • Garrett Nenner – Global Head of Trading Product, Linedata
  • Biser Dimitrov – Former Technology Director, BlockEx
  • Eugene Lee – CFA, Co-Founder and Partner, Digital Mosaic Capital
  • Jim Kyung-Soo Liew – Ph.D. Assistant Professor and Co-Founder, SoKat.co
  • Brian Koralewski – Partner, Austere Capital
  • Mark Goldman – Principal, Zash
  • Bryan Feinberg – CEO/Founder, Etheralabs/Plato Technologies Inc. and Plato Search Inc.
  • Gabe Frank – Institutional Custody and Cryptocurrency Security, BitGo
  • Haim Bodek – Managing Principal, Decimus Capital Markets
  • Wilfred Daye – Head of Financial Markets, OK Coin
  • Richard Rothenberg – Executive Director, Global A.I. Corp
  • Ron Quaranta – Chairman and CEO, Wall Street Blockchain Alliance
  • Sol Steinberg – Founding Partner, OTC Partners

The event promises to provide a perfect opportunity for networking during the extensive Networking Breakfast, Refreshment, Lunch Breaks and Post Event Drinks Reception, especially because it will be attended by a significant number of industry professionals and enthusiasts, such as blockchain experts, cryptocurrency enthusiasts and investors, banking professionals, compliance analysts, financial technology (FinTech) and regulatory technology (RegTech) professionals and others.

Sol Steinberg, Founding Partner of OTC Partners and host of the event notes: “The conference is a must for all professionals that are dealing with or are interested in the Cryptocurrency field, as it will provide unique and unprecedented insights. I am certain it will provide one of the most perceptive analysis reviews of the Cryptocurrency landscape available anywhere.”

To see the full agenda of the event and other further details please visit https://www.storm-7.com/crypto-digital-space

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