Rapyd: empowering APAC and Latin America through fintech
Coming with a complementary , the e-wallet, also called ‘LytePay’, will enable the sales teams at to analyse data, check their commissions, send invoices to clients, monitor their retirement and health insurance, and more.
The payment card (Lyte Talent) will enable the user to spend commission earnings at any establishment accepting Mastercard. Dennis Goh, Co-Founder of LytePay, stated that empowering Singapore’s real estate agents through fintech has been long overdue:
“Property agents in Singapore range from those who make a decent living to those who are just making ends meet. Neither groups get access to financial services that employees or small businesses enjoy mainly because their income is variable.
“By using data science and fintech, we want to help all property agents make more money and live more assured lives.”
Joel Yarbrough, VP for Asia-Pacific, Rapyd, added that the company was glad its technology could form the foundation of a solution which enhances worker’s lives, particularly as people’s day-to-day lives continue to be affected by COVID-19:
“Our Card Issuing platform helps innovators like LytePay and ERA create opportunities for new user segments in a simple and innovative way. Making income available more quickly is always great, but it is particularly essential now, during the pandemic.”
Empowering lives through fintech
Rapyd’s capacity for enhancing payment solutions was further demonstrated at the beginning of August 2020, when it announced a collaboration with to make tuition fee payments easier for students in Asia-Pacific and Latin America.
Allowing PayMyTuition’s platform to extend to over 600 US and Canada-based universities, Rapyd’s experience at facilitating international payments on a global scale made it an ideal partner for the venture.
“We are very excited to partner with such a forward thinking and technology-driven company as we expand our strategic partnerships into the education services industry,” said Vinay Shiriwastaw, Head of Sales for the Americas at Rapyd.
“We’re confident that our in-depth local expertise and broad network reach will help accelerate PayMyTuitions’ global facilitation of tuition payments for international students whether online or on-campus.”
Tink partners with Novalnet AG for open banking payments
The Munich-based fintech Novalnet AG, which was founded in 2007 and is one of Europe’s leadingfintech companies, has announced a new partnership with Tink, the Swedish open banking platform currently connected to more than 3,400 European banks.
Novalnet AG delivers payment solutions and fully automated services, from checkout to debt collection. Its solutions are also available worldwide.
According to reports, the fintech company plans to launch a real-time payments feature for merchants across Europe, to expand its current services and enhance the transaction experience it operates through its platform.
The new feature, says Novalnet, will revolutionise payments for ecommerce with transactions being credited to merchant’s accounts almost instantly.
Novalnet partnership with Tink
By partnering with Tink for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe.
The fintech’s real-time merchant payments feature, which will be launched initially in Germany and the United Kingdom, will then be integrated across other European markets during 2021.
Speaking about the new collaboration, Emmanuel Kirse, COO of Novalnet, explained, "We expect great things from our strategic partnership with Tink, which is a significant development for both parties.
“With Tink, Novalnet can offer a new set of open banking-related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants."
Cyrosch Kalateh, Regional Director for the DACH region at Tink said, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe.”
He added, “At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85mn investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”
Image credit: Novalnet AG