Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Square partners with eBay to expand lending for ‘underserved’ small businesses
CNBC Markets | Kate Rooney | Jul 24, 2018
Fintech company Square is boosting its small-business lending with an eBay partnership.
Square Capital, the lending arm of the payment start-up, will be available to eBay sellers looking to expand their business operations. Starting in the third quarter, merchants on the site can apply for a loan as small as $500 and up to $100,000 to help with everything from payroll and inventory to equipment and marketing, the companies announced Tuesday.
Square Capital’s focus since launching in 2014 has been on those businesses historically excluded from the larger financial system. The partnership will offer access to capital for those who have been “underserved when seeking funding” and give U.S. sellers a "seamless funding experience," said Jacqueline Reses, head of Square Capital.
See:
What we can learn from Ontario’s $3 million loan to small business
Lending Loop Surpasses $10M in Loans to Small Businesses Across Canada
Small-business lending is an increasingly competitive area in fintech. PayPal, which was once a part of eBay, has a program called Working Capital and provides loans to merchants based on sales history. Amazon also does this for sellers, and began extending credit to small business owners in 2011. It uses sales data to trigger invitations for financing that could boost growth.
Still, credit availability continues to be an issue for smaller merchants. Heading into this year, small businesses reported stronger revenue growth and profitability but still struggled to get loans to pay operating expenses and wages, according to the Federal Reserve’s 2017 Small Business Credit Survey. As many as 70 percent of merchants didn't receive the funding they wanted last year, the report said.
San Francisco-based Square, run by Twitter CEO Jack Dorsey, is best known as a credit cards processor but also offers payment hardware. Its peer-to-peer Cash App is growing faster than PayPal’s Venmo, according to a recent Nomura report. It began offering cryptocurrency trading on the Cash App late January.
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Regulatory Insights | Sep 21, 2023 A recent speech by Victoria Saporta at the Bank of England conference sheds light on the Prudential Regulation Authority's (PRA) vision and its commitment to bolstering the UK's position as a global financial hub focusing on international competitiveness and growth. Victoria Saporta, Executive Director, Prudential Policy highlighted the PRA's new secondary objective, which emphasizes facilitating the UK economy's international competitiveness and growth over the medium to long term. This objective aligns with international standards, ensuring that the UK remains a key player on the global stage. The PRA's approach to this objective isn't entirely new. They initiated a conversation about a year ago with a Discussion Paper that outlined their policy approach. Saporta's speech in February further solidified the PRA's stance, proposing regulatory foundations that would guide their approach. Three Pillars of Competitiveness and Growth See: Canada’s Competition Problem: 7 Reasons Saporta outlined three main foundations that the PRA believes are crucial for harnessing the UK’s strengths: Trust: A strong emphasis on maintaining trust in the PRA and the UK's prudential framework. Effective Processes: The need for streamlined regulatory processes and proactive engagement. Responsiveness: A commitment to addressing UK-specific risks and opportunities head-on. A ...
Carbon Markets | Sep 21, 2023 Solid World, KlimaDAO, and SCB Group announce partnership to deploy prepaid carbon liquidity using blockchain technology, enhancing efficiency and transparency in the carbon market. With global climate challenges on the rise, there's a pressing demand for clear, efficient, and adaptable carbon market strategies. The new alliance between KlimaDAO, SCB Group, and Solid World highlights the next phase in carbon market dynamics, shedding light on the potential impact and direction of this collaboration. KlimaDAO is at the forefront of blockchain-based carbon credit solutions, dedicated to fostering a sustainable future. With a vision to revolutionize the carbon market, KlimaDAO provides cutting-edge market infrastructure, ensuring transparency and efficiency in carbon trading. Solid World (an NCFA Industry Partner) offers innovative infrastructure solutions pioneering the next generation of carbon market platforms. Solid World's infrastructure stands out for its ability to create a liquid market for prepaid carbon credits that are yet to be issued. This is a game-changer for the Voluntary Carbon Markets, offering predictability of funding and reducing payback times for project developers. The introduction of the CRISP framework further augments the confidence in such projects. The new prepaid credit pool has launched with 54,050 tonnes of carbon and ...
Sep 21, 2023 When it comes to warehousing solutions, businesses often stand at a crossroads, wondering whether to invest in fancy permanent storage facilities or go for those temporary warehouse buildings. This decision can really shake up a company's piggy bank and its overall way of doing things. So, let's dive into the cost-benefit stuff of temporary vs. permanent storage solutions, and we'll throw in some interactive and engaging examples to keep things interesting. The Lowdown Storing goods is a big deal for lots of industries, from selling stuff to making stuff to clicking stuff online. Warehouses, those big storage places, they're like the backbone of making sure things stay organized. When you're deciding between temporary and permanent storage, you've got to think about a bunch of things. Let’s check the basics about each storage solution. Temporary Warehouses Before we get all serious about costs, let's talk about temporary warehouse buildings, also known as portable or semi-permanent structures. They have gained popularity for their flexibility and cost-efficiency. These structures are typically made of durable materials like steel or aluminum and can be erected quickly without the need for a concrete foundation. This makes them an ideal choice for businesses looking ...
Mobile Wallet | Sep 20, 2023 Major American banks like JPMorgan Chase, Bank of America, and Wells Fargo are gearing up to launch "Paze", a mobile wallet that will connect directly to the credit and debit card accounts of 150 million customers. The rise of mobile wallets and digital payment solutions by tech companies has been meteoric. Apple Pay, for instance, has seen its user base grow from 60 million to over 500 million in just five years. Such numbers are not just impressive; they're a clarion call for banks to innovate or risk being sidelined. See: Bank CEOs Defend P2P Payments Network Zelle in Senate Hearing Over Consumer Fraud Handling As banks are increasingly leaning towards partnerships with fintechs, there are rising concerns from regulators. They are wary of the potential risks these collaborations might introduce, especially in terms of customer data and security. Paze - Collaboration Over Competition Paze is not just another mobile wallet. It's a strategic initiative by giants such as JPMorgan Chase, Bank of America, and Wells Fargo. Designed to connect directly to the credit and debit card accounts of a whopping 150 million customers, Paze aims to be the go-to mobile wallet for the ...
Payments | Sep 20, 2023 At the 2023 Sibos conference held in Toronto, Swift and Wise announced a strategic partnership aiming to enhance the global cross-border payment options available to financial institutions and their end customers. Enhanced Cross-Border Payments The partnership will allow financial institutions to route Swift payment messages directly to the Wise platform via Wise's Correspondent Services Solution. This integration ensures that Swift customers can leverage the benefits of Wise without undergoing major system overhauls. Wise will utilize Swift's advanced features, including cloud and API connectivity and Payment Pre-validation. The hallmark features of Swift GPI, such as the payment status tracker, will be updated by the Wise Platform to ensure a comprehensive end-to-end view across both networks. See: Swift’s Blockchain Breakthrough Boosts Global Tokenization Steve Naudé, Managing Director of Wise Platform: We know that banks face a number of challenges when it comes to enhancing their international payments, including that this often requires them to embed technology which is incompatible with legacy infrastructure. By simultaneously leveraging existing payments architecture and optimising payouts using Wise's global network, we are empowering banks to innovate effortlessly. Our network, combined with Swift’s extensive reach and trackability, will make international payments more convenient, ...
Crypto | Sep 20, 2023 Bitbuy, a subsidiary of WonderFi Technologies Inc., has announced a strategic partnership with Localcoin, Canada's largest Bitcoin ATM provider. This collaboration aims to enhance cryptocurrency adoption and accessibility across Canada. Expanding Access to Crypto Localcoin, established in 2017, has been a pioneer in the cryptocurrency ATM sector in Canada. With 920 ATMs, it captures 33% of the cryptocurrency ATM market share in the country. Localcoin chose Bitbuy for its scale, commitment to the Canadian market, and robust regulatory positioning. Bitbuy's digital asset services will soon power nearly 50% of Canada's Bitcoin ATMs. This is a testament to the scale and reach of the partnership. See: Bitbuy to Offer Stock Trading to Its Users Bitbuy is on track to surpass 900,000 registered Canadian users by the end of the month, making it one of the country's largest crypto-trading platforms. The platform caters to a diverse user base, including retail and advanced traders, high-net-worth individuals, and institutional clients. This partnership solidifies both companies' positions as leaders in the Canadian cryptocurrency space. This collaboration ensures that Canadians have more touchpoints to access cryptocurrencies, making it easier for both novices and experts to buy or sell digital assets. Improving ...
Brookings | Sep 20, 2023 Event Overview Date & Time: October 6, 2023, from 9:00 am to 1:00 pm EDT. Location (In-person or Online): The Brookings Institution, Falk Auditorium, 1775 Massachusetts Ave NW, Washington, D.C. 20036. Overview: America was once a leader in the adoption of new payment technologies, introducing innovations like credit cards and ATMs. However, in recent times, the country has fallen behind in terms of payment infrastructure. The current system is slow and often imposes costs on users. See: Payments Canada Delays Launch of Real-Time Rails Again (without a timeline) With the rise of digitization and technological advancements, there's a significant opportunity to reform the payment system to benefit the economy, promote financial access, and facilitate commerce and trade. However, these innovations also bring regulatory challenges and questions about the role of government and central banks. The event will delve into the current state of U.S. payments and emerging digital asset technologies that could disrupt them. The event is a collaboration between Brookings, Cornell Law, and Vanderbilt Law. Discussion topics topics include public and private real-time payment systems (FedNow and Real-Time Payments), cryptocurrencies, stablecoins, central bank digital currencies, and more. See: Could FedNow Outperform Virtually All Existing ...
Sep 20, 2023 When diving into the bustling world of e-commerce, setting up a Shopify store is just the beginning. The real challenge lies in drawing traffic and converting visitors into loyal customers. While you’ve probably dipped your toes into some basic SEO, let’s further explore some advanced strategies tailored for Shopify. Get to Know Schema Markup Schema markup, a form of microdata, makes search engines understand the context on your site better. By integrating schema markup into your Shopify store with the help of a Shopify SEO expert, you enhance the rich snippets that appear beneath your page title in search results. This can include product prices, ratings, and stock levels. For e-commerce, this is a goldmine. Shoppers get more info right from the search results, making them more likely to click. Harness the Power of Long-Tail Keywords While single-world keywords have their place, long-tail keywords (those three or four keyword phrases specific to what you’re selling) can be a game-changer. Why? They cater to users who are closer to the point of purchase. Utilize tools like SEMrush or Google Keyword Planner to uncover long-tail gems relevant to your products. Once you’ve got a list, sprinkle them naturally throughout ...
M&A | Sep 19, 2023 Hut 8 Mining has received the final nod from the Supreme Court of British Columbia to merge with U.S. Data Mining Group, known as US Bitcoin Corp. This strategic move aims to bolster their position in the North American market, combining both bitcoin and fiat revenues. The merger is expected to enhance their operational capacity and expand their presence in the stock market. Final Approval for Merger Hut 8 Mining has secured the final court approval from the Supreme Court of British Columbia to complete its merger with U.S. Data Mining Group, which operates under the name US Bitcoin Corp. This merger had been in the works since February 2023 and was contingent on both shareholder and regulatory approvals. See: Proposed Changes to Crypto Mining GST/HST Rules: What’s Capture and What’s Not? Strategic Positioning The merger is an all-stock merger of equals and is anticipated to create a robust business entity in North America, backed by both bitcoin and fiat revenues. The combined entity, named Hut 8 Corporation or "New Hut," will be publicly traded in the United States. This move is expected to significantly enhance their operational capacity, with access to 825 megawatts across ...
AI | Sep 19, 2023 As AI-driven tools and platforms continue to evolve, they promise efficiency, accuracy, and convenience. But does this mean the end of the human touch in financial advisory? In an era where Artificial Intelligence (AI) is revolutionizing various sectors, the domain of personal finance stands out as one where the human touch remains indispensable. While AI brings a plethora of benefits to the table, there are certain nuances and intricacies that only a human can cater to. 1. Emotional Quotient Money matters are deeply personal and often intertwined with emotions. For instance, consider a young couple grappling with the decision to buy their first home. While AI can provide data on market trends, interest rates, and property valuations, it cannot understand the emotional significance of their first home purchase. A human advisor, on the other hand, can empathize with their excitement and anxieties, offering comfort and guidance during this significant life event. When someone faces a financial setback, such as job loss or a market downturn affecting their investments, they need more than just data-driven advice. They need reassurance, a listening ear, and sometimes even a shoulder to lean on. This emotional support is something that ...
Regulatory Insights | Sep 21, 2023 A recent speech by Victoria Saporta at the Bank of England conference sheds light on the Prudential Regulation Authority's (PRA) vision and its commitment to bolstering the UK's position as a global financial hub focusing on international competitiveness and growth. Victoria Saporta, Executive Director, Prudential Policy highlighted the PRA's new secondary objective, which emphasizes facilitating the UK economy's international competitiveness and growth over the medium to long term. This objective aligns with international standards, ensuring that the UK remains a key player on the global stage. The PRA's approach to this objective isn't entirely new. They initiated a conversation about a year ago with a Discussion Paper that outlined their policy approach. Saporta's speech in February further solidified the PRA's stance, proposing regulatory foundations that would guide their approach. Three Pillars of Competitiveness and Growth See: Canada’s Competition Problem: 7 Reasons Saporta outlined three main foundations that the PRA believes are crucial for harnessing the UK’s strengths: Trust: A strong emphasis on maintaining trust in the PRA and the UK's prudential framework. Effective Processes: The need for streamlined regulatory processes and proactive engagement. Responsiveness: A commitment to addressing UK-specific risks and opportunities head-on. A ...
Carbon Markets | Sep 21, 2023 Solid World, KlimaDAO, and SCB Group announce partnership to deploy prepaid carbon liquidity using blockchain technology, enhancing efficiency and transparency in the carbon market. With global climate challenges on the rise, there's a pressing demand for clear, efficient, and adaptable carbon market strategies. The new alliance between KlimaDAO, SCB Group, and Solid World highlights the next phase in carbon market dynamics, shedding light on the potential impact and direction of this collaboration. KlimaDAO is at the forefront of blockchain-based carbon credit solutions, dedicated to fostering a sustainable future. With a vision to revolutionize the carbon market, KlimaDAO provides cutting-edge market infrastructure, ensuring transparency and efficiency in carbon trading. Solid World (an NCFA Industry Partner) offers innovative infrastructure solutions pioneering the next generation of carbon market platforms. Solid World's infrastructure stands out for its ability to create a liquid market for prepaid carbon credits that are yet to be issued. This is a game-changer for the Voluntary Carbon Markets, offering predictability of funding and reducing payback times for project developers. The introduction of the CRISP framework further augments the confidence in such projects. The new prepaid credit pool has launched with 54,050 tonnes of carbon and ...
Sep 21, 2023 When it comes to warehousing solutions, businesses often stand at a crossroads, wondering whether to invest in fancy permanent storage facilities or go for those temporary warehouse buildings. This decision can really shake up a company's piggy bank and its overall way of doing things. So, let's dive into the cost-benefit stuff of temporary vs. permanent storage solutions, and we'll throw in some interactive and engaging examples to keep things interesting. The Lowdown Storing goods is a big deal for lots of industries, from selling stuff to making stuff to clicking stuff online. Warehouses, those big storage places, they're like the backbone of making sure things stay organized. When you're deciding between temporary and permanent storage, you've got to think about a bunch of things. Let’s check the basics about each storage solution. Temporary Warehouses Before we get all serious about costs, let's talk about temporary warehouse buildings, also known as portable or semi-permanent structures. They have gained popularity for their flexibility and cost-efficiency. These structures are typically made of durable materials like steel or aluminum and can be erected quickly without the need for a concrete foundation. This makes them an ideal choice for businesses looking ...
Mobile Wallet | Sep 20, 2023 Major American banks like JPMorgan Chase, Bank of America, and Wells Fargo are gearing up to launch "Paze", a mobile wallet that will connect directly to the credit and debit card accounts of 150 million customers. The rise of mobile wallets and digital payment solutions by tech companies has been meteoric. Apple Pay, for instance, has seen its user base grow from 60 million to over 500 million in just five years. Such numbers are not just impressive; they're a clarion call for banks to innovate or risk being sidelined. See: Bank CEOs Defend P2P Payments Network Zelle in Senate Hearing Over Consumer Fraud Handling As banks are increasingly leaning towards partnerships with fintechs, there are rising concerns from regulators. They are wary of the potential risks these collaborations might introduce, especially in terms of customer data and security. Paze - Collaboration Over Competition Paze is not just another mobile wallet. It's a strategic initiative by giants such as JPMorgan Chase, Bank of America, and Wells Fargo. Designed to connect directly to the credit and debit card accounts of a whopping 150 million customers, Paze aims to be the go-to mobile wallet for the ...
Payments | Sep 20, 2023 At the 2023 Sibos conference held in Toronto, Swift and Wise announced a strategic partnership aiming to enhance the global cross-border payment options available to financial institutions and their end customers. Enhanced Cross-Border Payments The partnership will allow financial institutions to route Swift payment messages directly to the Wise platform via Wise's Correspondent Services Solution. This integration ensures that Swift customers can leverage the benefits of Wise without undergoing major system overhauls. Wise will utilize Swift's advanced features, including cloud and API connectivity and Payment Pre-validation. The hallmark features of Swift GPI, such as the payment status tracker, will be updated by the Wise Platform to ensure a comprehensive end-to-end view across both networks. See: Swift’s Blockchain Breakthrough Boosts Global Tokenization Steve Naudé, Managing Director of Wise Platform: We know that banks face a number of challenges when it comes to enhancing their international payments, including that this often requires them to embed technology which is incompatible with legacy infrastructure. By simultaneously leveraging existing payments architecture and optimising payouts using Wise's global network, we are empowering banks to innovate effortlessly. Our network, combined with Swift’s extensive reach and trackability, will make international payments more convenient, ...
Crypto | Sep 20, 2023 Bitbuy, a subsidiary of WonderFi Technologies Inc., has announced a strategic partnership with Localcoin, Canada's largest Bitcoin ATM provider. This collaboration aims to enhance cryptocurrency adoption and accessibility across Canada. Expanding Access to Crypto Localcoin, established in 2017, has been a pioneer in the cryptocurrency ATM sector in Canada. With 920 ATMs, it captures 33% of the cryptocurrency ATM market share in the country. Localcoin chose Bitbuy for its scale, commitment to the Canadian market, and robust regulatory positioning. Bitbuy's digital asset services will soon power nearly 50% of Canada's Bitcoin ATMs. This is a testament to the scale and reach of the partnership. See: Bitbuy to Offer Stock Trading to Its Users Bitbuy is on track to surpass 900,000 registered Canadian users by the end of the month, making it one of the country's largest crypto-trading platforms. The platform caters to a diverse user base, including retail and advanced traders, high-net-worth individuals, and institutional clients. This partnership solidifies both companies' positions as leaders in the Canadian cryptocurrency space. This collaboration ensures that Canadians have more touchpoints to access cryptocurrencies, making it easier for both novices and experts to buy or sell digital assets. Improving ...
Brookings | Sep 20, 2023 Event Overview Date & Time: October 6, 2023, from 9:00 am to 1:00 pm EDT. Location (In-person or Online): The Brookings Institution, Falk Auditorium, 1775 Massachusetts Ave NW, Washington, D.C. 20036. Overview: America was once a leader in the adoption of new payment technologies, introducing innovations like credit cards and ATMs. However, in recent times, the country has fallen behind in terms of payment infrastructure. The current system is slow and often imposes costs on users. See: Payments Canada Delays Launch of Real-Time Rails Again (without a timeline) With the rise of digitization and technological advancements, there's a significant opportunity to reform the payment system to benefit the economy, promote financial access, and facilitate commerce and trade. However, these innovations also bring regulatory challenges and questions about the role of government and central banks. The event will delve into the current state of U.S. payments and emerging digital asset technologies that could disrupt them. The event is a collaboration between Brookings, Cornell Law, and Vanderbilt Law. Discussion topics topics include public and private real-time payment systems (FedNow and Real-Time Payments), cryptocurrencies, stablecoins, central bank digital currencies, and more. See: Could FedNow Outperform Virtually All Existing ...
Sep 20, 2023 When diving into the bustling world of e-commerce, setting up a Shopify store is just the beginning. The real challenge lies in drawing traffic and converting visitors into loyal customers. While you’ve probably dipped your toes into some basic SEO, let’s further explore some advanced strategies tailored for Shopify. Get to Know Schema Markup Schema markup, a form of microdata, makes search engines understand the context on your site better. By integrating schema markup into your Shopify store with the help of a Shopify SEO expert, you enhance the rich snippets that appear beneath your page title in search results. This can include product prices, ratings, and stock levels. For e-commerce, this is a goldmine. Shoppers get more info right from the search results, making them more likely to click. Harness the Power of Long-Tail Keywords While single-world keywords have their place, long-tail keywords (those three or four keyword phrases specific to what you’re selling) can be a game-changer. Why? They cater to users who are closer to the point of purchase. Utilize tools like SEMrush or Google Keyword Planner to uncover long-tail gems relevant to your products. Once you’ve got a list, sprinkle them naturally throughout ...
M&A | Sep 19, 2023 Hut 8 Mining has received the final nod from the Supreme Court of British Columbia to merge with U.S. Data Mining Group, known as US Bitcoin Corp. This strategic move aims to bolster their position in the North American market, combining both bitcoin and fiat revenues. The merger is expected to enhance their operational capacity and expand their presence in the stock market. Final Approval for Merger Hut 8 Mining has secured the final court approval from the Supreme Court of British Columbia to complete its merger with U.S. Data Mining Group, which operates under the name US Bitcoin Corp. This merger had been in the works since February 2023 and was contingent on both shareholder and regulatory approvals. See: Proposed Changes to Crypto Mining GST/HST Rules: What’s Capture and What’s Not? Strategic Positioning The merger is an all-stock merger of equals and is anticipated to create a robust business entity in North America, backed by both bitcoin and fiat revenues. The combined entity, named Hut 8 Corporation or "New Hut," will be publicly traded in the United States. This move is expected to significantly enhance their operational capacity, with access to 825 megawatts across ...
AI | Sep 19, 2023 As AI-driven tools and platforms continue to evolve, they promise efficiency, accuracy, and convenience. But does this mean the end of the human touch in financial advisory? In an era where Artificial Intelligence (AI) is revolutionizing various sectors, the domain of personal finance stands out as one where the human touch remains indispensable. While AI brings a plethora of benefits to the table, there are certain nuances and intricacies that only a human can cater to. 1. Emotional Quotient Money matters are deeply personal and often intertwined with emotions. For instance, consider a young couple grappling with the decision to buy their first home. While AI can provide data on market trends, interest rates, and property valuations, it cannot understand the emotional significance of their first home purchase. A human advisor, on the other hand, can empathize with their excitement and anxieties, offering comfort and guidance during this significant life event. When someone faces a financial setback, such as job loss or a market downturn affecting their investments, they need more than just data-driven advice. They need reassurance, a listening ear, and sometimes even a shoulder to lean on. This emotional support is something that ...
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