Africa Fintech Summit’s Post

OPay's valuation soars 30% post-Series C, reflecting Nigeria's fintech boom. Opera's strategic moves elevate stake to 9.4%, valuing OPay at $2.7 billion. Challenges include fraud prevention amid regulatory scrutiny. OPay SoftBank Investment Advisers Sequoia Capital #OPay #NigerianFintech #SequoiaCapital #Softbank #DigitalPayments #TechStartup #ValuationSurge #TechInvestors #FintechRevolution #AfricaTech https://lnkd.in/dFWmdwBA

“Smells Like Fintech Spirit”: Fifth Milan Fintech Summit Kicks Off to the Beat of Music The fifth edition of the Milan Fintech Summit – a leading international event focused on innovation in banking and financial services – is returning to Milan. Organised and promoted by Fintech District, the international community representing Italy’s Fintech and Techfin ecosystem, and Business International, the knowledge unit of Fiera Milano, the event will reinforce Milan’s status as a key hub for innovation in Europe. The Summit aims to spotlight the Italian Fintech ecosystem, attract investments and talent, and foster business networking opportunities. Federica Dell'Unto Marco Fey https://lnkd.in/efCwkRBg #MilanFintechSummit #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Opay’s valuation has risen by over 30% since its Series C funding round in 2021. This is according to recent corporate filings by Opera, an early investor. OPay has made significant leaps in the past year, partly thanks to an ill-timed currency redesign that triggered cash scarcity for multiple weeks. The absence of cash led more people to rely on fintech apps like Moniepoint and OPay for transactions, pushing national payment volumes to record levels in early 2023. Get all the details 👇 https://lnkd.in/emQ_VbTk 

Nigerian fintech giant OPay is in a sticky situation. Between December 2023 and March 2024, a system error caused some OPay users to receive money for transactions that never actually went through. Imagine swiping your card for coffee, but the money ends up in your account instead of the cafe's! OPay discovered the glitch and contacted lucky customers who received these accidental windfalls (over ₦500,000 or $1200 USD). They politely requested the money be returned to keep their accounts balanced. Unfortunately, only 10% of customers cooperated. Maybe the free money felt too good to give back? Faced with unrecovered funds, OPay took a bold step. They went to court and got approval to freeze the accounts of customers who hadn't returned the mistaken deposits. So, what happens now? OPay will be contacting 30 different banks to restrict these accounts. This is a complex situation, and it's unclear how it will be resolved. Will some customers fight the freeze? Will OPay find a way to recover the funds without resorting to frozen accounts? What lessons can we learn? This glitch highlights the importance of robust systems in fintech. It also shows how crucial clear communication and customer cooperation are when things go wrong. What do you think about this? Share your thoughts in the comments! #opay #nigerianfintech #fintech #nigerianfintechfestival

Data showed that companies which lean towards the provision of payment gateway services, such as VNPay, tend to be financially healthier than e-wallet-focused players. VNLife chief executive Niraan De Silva attributed the company’s profitability to its diversified model beyond e-wallet services provided by its subsidiary VNPay. Solutions such as payment gateways, QR-code payment systems and commerce services are integrated across mobile apps and other digital platforms of its banking and e-wallet partners. The firm is weighing a strategic trade sale as a potential exit option for shareholders against an initial public offering (IPO). #fintech #unicorn #payment #vietnam #profitability

After the excitement of last week’s Singapore Fintech Festival, it’s easy to feel energized about the future of our industry. The event brought inspiring ideas, innovative solutions, and bold visions for where we’re headed. But as much as we thrive on that high, the real work happens outside of the festival. The recent Yotta-Evolve-Synapse saga is a reminder of just how crucial stability and user trust are in fintech. When infrastructure breaks down and users are left in limbo, it’s a gut punch—not just for them but for the entire industry. In my latest article, “When Fintech Fails,” I dive into the fallout from Yotta’s payout mess and why it’s a wake-up call for all of us in fintech. At the end of the day, it’s not just about pushing boundaries; it’s about building a foundation that people can rely on. Read the full article here https://lnkd.in/gw72bPHt and let’s continue the conversation on what it takes to truly make fintech user-centric.

💡 Breaking Fintech News!     #KPay, a Hong Kong-based fintech, has raised a record-breaking $55M in Series A funding, the largest in the payments sector globally in #2024! 🚀   Led by Apis Partners, this funding will fuel KPay’s expansion into key #Asianmarkets like Indonesia, Thailand, and Malaysia, while doubling partnerships with banks, financial firms, and SaaS providers.   Serving 45,000+ merchants across Hong Kong, Japan, and Singapore, KPay empowers SMEs with innovative solutions like business accounts, automated reports, #POS systems, and cross-border payments.   CEO Davis Chan aims to broaden their reach into underserved markets and new merchant categories.   #Fintech #KPay #Funding #BusinessGrowth #SMEInnovation

🇵🇹 The Portuguese Payment Ecosystem 💳 Portugal’s payment landscape blends traditional systems like Multibanco with rapid fintech growth. Mobile solutions like MB WAY are gaining traction, while cross-border payment innovations and fintech startups are shaping the future. With its strategic location, Portugal is becoming a key player in the European payments market. Exciting opportunities ahead! 🚀 #fintech #payments #portugal #ecommerce NORBr Pay World Tour!

Aymeric MAROLLEAU mind Fintech presents the relation between big tech and finance. 🔸️Alphabet Inc. and Tencent are among the major players in this field 🔸️15 points of interest in finance for big tech (payments, BNPL...) #payments #innovation #finance PARTELYA CONSULTING European Women Payments Network (EWPN) AEFI Asociación Española de FinTech e InsurTech CLUB ITALIE-FRANCE The PAYTECH Book Portuguese Women in Tech Merchant Payments Ecosystem

Ant Group: China's Fintech Titan Ant Group, the powerhouse behind Alipay, is leading China's digital charge. Their revolutionary payment platform, boasting over 1 billion users, has transformed how people spend, from groceries to utilities. This cashless wonder has not only supercharged e-commerce but also brought banking to millions previously excluded. Beyond payments, Ant Group is a financial titan, offering credit scoring, lending, and wealth management to millions. Their impact? A more inclusive financial system and a thriving economy. #fintech #China #Alipay Day 4 of #CIB_Summer_Internship_2024