Today in FinTech: Apple for the Square

In today’s FinTech news, Cashfree Payments in India is launching Token Vault with the National Payments Corporation of India (NPCI) on RuPay cards. Plus, Transcard is launching its new tool SMART Hub in a collaboration with cloud-based financial management and services firm Sage Intact.

Cashfree Payments Teams With NPCI for Tokenization of RuPay Cards

Cashfree Payments, a payments and application programming interface (API) banking solutions startup, is offering its new Token Vault tool through a collaboration with the National Payments Corporation of India (NPCI) on RuPay cards for its merchants.

Token Vault is compliant with Reserve Bank of India guidelines and offers a way for merchants to enable their customers to save cards on merchants’ websites or apps and process card payments securely.

Transcard’s SMART Hub Payments Collabs With Sage Intacct

Payments and data technology platform Transcard has announced an integration between its SMART Hub tool and Sage Intacct, a cloud-based financial management and services firm.

The SMART Hub payment portal digitizes payment management for businesses and also offers insights into what transpired. Integrating SMART Hub with Sage Intacct is intended to streamline the process of making and receiving payments while eliminating complexity.

Incognia Grabs $15.5M to Increase Its ID Fraud-Fighting Efforts

Mobile identity platform Incognia raised $15.5 million in a Series A funding round that it’s earmarking to continue fighting identity fraud for its 200 million-plus customers across 20 countries.

The fresh capital was led by Point72 Ventures. Incognia Focuses on user authentication and fraud prevention on mobile applications in FinTech, cryptocurrency, gaming, delivery and more.

Square Working With Apple to Enable Tap to Pay on iPhones

Square is working with Apple to enable Tap to Pay on iPhones on the Square point of sale (POS), using new technology that gives sellers more flexibility at checkout.

The latest tech add-on also offers sellers increased flexibility and an on-ramp to the Square ecosystem at checkout. Through Square’s Early Access Program, select sellers will now have the opportunity to test the integration, with a full roll-out planned later in the year.

Nexi to Buy BPER Banca Payment Unit for $412M

Italian payments group Nexi is set to acquire the payments business of BPER Banca and its subsidiary Banco Di Sardegna for an estimated $412 million, following months of negotiations.

The deal is expected to close in the latter half of the year, and will see Nexi purchasing the point of sale operations of both companies.

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NEW PYMNTS DATA: THE TAILORED SHOPPING EXPERIENCE STUDY – MAY 2022

About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are getting it right and where they need to up their game to deliver a customized shopping experience.

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