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China Roundup: Beijing is tearing down the digital ‘walled gardens’

Hello and welcome back to TechCrunch’s China roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world. This week, China gets serious about breaking down the walled gardens that its internet giants have formed for decades. Two major funding rounds were announced, from the newly established autonomous driving unicorn Deeproute.ai and fast-growing, cross-border financial service provider XTransfer. Tear down the walls The Chinese ...
Tags: TC, Asia, China, Southeast Asia, Tech, Beijing, Shanghai, Alibaba, JD.com, Tencent, WeChat, Alipay, Alibaba Group, Online Payments, Jack Ma, Anker


SpotOn raises $300M at a $3.15B valuation and acquires Appetize

Last year at this time, SpotOn was on the brink of announcing a $60 million Series C funding round at a $625 million valuation. Fast forward to almost exactly one year later, and a lot has changed for the payments and software startup. Today, SpotOn said it has closed on $300 million in Series E financing that values the company at $3.15 billion — more than 5x of its valuation at the time of its Series C round, and significantly higher than its $1.875 billion valuation in May (yes, just thr...
Tags: Fundings & Exits, Startups, Instagram, Finance, Funding, Los Angeles, San Francisco, Startup, Tech, SaaS, Venture Capital, M&a, Square, Mobile Web, Payments, Online Payments


Balance raises $25M in a Ribbit Capital-led Series A to grow its ‘consumer-like B2B checkout platform’

Balance , a payments platform aimed at B2B merchants and marketplaces, has raised $25 million in a Series A funding round led by Ribbit Capital. Avid Ventures participated in the financing, in addition to existing backers Lightspeed Ventures, Stripe, Y Combinator Continuity Fund, SciFi VC and UpWest. Other individual investors that put money in the round include early employees and executives from Plaid, Coinbase, Square, Stripe and PayPal, such as Jaqueline Reses , formerly head of Squar...
Tags: Fundings & Exits, Startups, Ecommerce, Y Combinator, New York, Finance, Funding, Tel Aviv, Tech, E-commerce, Paypal, Balance, Venture Capital, Payments, Online Payments, Api


How to delete your PayPal account, whether it's for business or personal use

To delete a PayPal account, you need to log in on a computer web browser. SOPA Images / Contributor/Getty Images You can only delete a PayPal account using a laptop or computer, not a mobile phone. Before deleting, all remaining money should be withdrawn, and any outstanding issues resolved. Deleting a business PayPal account is the same process as deleting a personal PayPal account. Visit Insider's Tech Reference library for more stories. PayPal is a free online platform for sending a...
Tags: Mac, Trends, Paypal, Pc, Online Payments, Money Transfer, Tech Insider, Money Apps, Tech Reference, Software & Apps (Reference, Tech How To, Abigail Abesamis Demarest


xentral, an ERP platform for SMBs, raises $75M Series B from Tiger Global and Meritech

Enterprise Resource Planning systems have traditionally been the preserve of larger companies, but in recent years the amount of data small medium sized businesses can generate has increased to the point where even SMEs/SMBs can get into the world of ERP. And that’s especially true for online-only businesses. At the beginning of the year we covered the $20 million Series A funding of Xentral, a German startup that develops ERP for online small businesses, but it clearly didn’t plan to stop there...
Tags: Amazon, TC, Europe, Business, UK, Ebay, Germany, Berlin, Articles, Tech, Ceo, ERP, Artificial Intelligence, United States, United Kingdom, Online Payments


Why Square is shelling out $29B to snag BNPL player Afterpay

Shares of Square are up this morning after the company announced its second-quarter earnings and that it will buy Afterpay, an Australian buy now, pay later (BNPL) player in a $29 billion deal. As TechCrunch reported this morning, Afterpay shareholders will receive 0.375 shares of Square in exchange for their existing equity. Shares of Afterpay are sharply higher after the deal was announced thanks to its implied premium, while shares of Square are up 7% in early-morning trading. The Exchange e...
Tags: Apple, Fundings & Exits, Startups, TC, Tech, Paypal, United States, Square, Online Payments, Cupertino, Affirm, Klarna, Financial Technology, The Exchange, Cash App, Online Purchases


Square Will Eat ‘Buy Now, Pay Later’ Platform Afterpay for $29 Billion

Fintech company Square, led by Twitter CEO Jack Dorsey, announced on Sunday that it plans to acquire the “buy now, pay later” platform Afterpay for $29 billion. If the purchase is approved, it would turn Square into a power player in the online payments space.Read more...
Tags: Twitter, Science, Money, Finance, Square, Mobile Payments, Online Payments, Jack Dorsey, Visa, Visa Inc, Square Inc, Nick Molnar, Business Finance, Cash App, Payment Systems, Afterpay


Nium crosses $1B valuation with $200M Riverwood Capital-led round

Business-to-business payments platform Nium announced Monday that it raised more than $200 million in Series D funding and saw its valuation rise above $1 billion. The company, now Singapore-based but shifting to the Bay Area, touted the investment as making it “the first B2B payments unicorn from Southeast Asia.” Riverwood Capital led the round, in which Temasek, Visa, Vertex Ventures, Atinum Capital, Beacon Venture Capital and Rocket Capital Investment participated, along with a group of angel...
Tags: TC, Asia, Enterprise, Southeast Asia, Singapore, India, Funding, Tech, United States, Venture Capital, Mobile Payments, Payments, Online Payments, Api, Latin America, Fis


Checkout is the key to frictionless B2B e-commerce

Andrew Steele Contributor Share on Twitter Andrew Steele is an investor at Activant Capital. He focuses on fintech and e-commerce infrastructure and is based in New York. COVID-19 cemented e-commerce into everyone’s daily habits in 2020, and as we look ahead, B2B e-commerce is quickly becoming the next frontier for founders and investors. The pandemic pushed businesses online, and the emergence of B2B marketplaces and e-commer...
Tags: Ecommerce, Column, New York, Finance, Tech, E-commerce, Paypal, Payments, Online Payments, Api, Financial Services, Klarna, John Deere, Resolve, Rho, Andrew Steele


WhenThen’s no-code payments platform attracts $6M from European VCs Stride and Cavalry

The payments space – amazingly – remains up for grabs for startups. Yes dear reader, despite the success of Stripe, there seems to be a new payments startup virtually every other day. It’s a mess out there! The accelerated growth of e-commerce due to the pandemic means payments are now a booming space. And here comes another one, with a twist. WhenThen has built a no-code payment operations platform that, they claim, streamlines the payment processes “of merchants of any kind”.  It says its plat...
Tags: TC, Europe, Money, Finance, Entrepreneur, Tech, E-commerce, Ceo, Paypal, Mobile Payments, Online Payments, Dublin, Financial Services, Stripe, Adyen, Bitpay


Venmo removes its global, public feed in a significant app redesign

PayPal-owned payments app Venmo will no longer offer a public, global feed of users’ transactions, as part of a significant redesign focused on expanding the app’s privacy controls and better highlighting some of Venmo’s newer features. The company says it will instead only show users their “friends feed” — meaning, the app’s social feed where you can see just your friends’ transactions. Venmo has struggled over the years to balance its desire to add a social element to its peer-to-peer payments...
Tags: Apps, Buzzfeed, Finance, Tech, Paypal, United States, President, Mobile Payments, Online Payments, Biden, Cryptocurrencies, Venmo, Federal Trade Commission, Peer To Peer, Ftc, Venmo Venmo


Venmo removes its global, public feed as part of a major redesign

PayPal-owned payments app Venmo will no longer offer a public, global feed of users’ transactions, as part of a significant redesign focused on expanding the app’s privacy controls and better highlighting some of Venmo’s newer features. The company says it will instead only show users their “friends feed” — meaning, the app’s social feed where you can see just your friends’ transactions. Venmo has struggled over the years to balance its desire to add a social element to its peer-to-peer payments...
Tags: Apps, Buzzfeed, Finance, Tech, Paypal, United States, President, Mobile Payments, Online Payments, Biden, Cryptocurrencies, Venmo, Federal Trade Commission, Peer To Peer, Ftc, Venmo Venmo


Play2Pay raises $13M to convert mobile user engagement into bill payment

The gamification of payments is not a new concept. A number of companies are attempting to combine gamification and payments in creative ways. And today, one such company, Play2Pay , has raised $13 million in a Series A round of funding. The Fort Lauderdale, Florida-based startup has a straightforward mission. It wants to give consumers a way to reduce their bills — it claims by an average of 30%! — by playing games, watching videos and completing daily challenges, offers and surveys. ...
Tags: Fundings & Exits, Startups, Gaming, Florida, Money, Indonesia, Mexico, Finance, Funding, Tech, United States, Venture Capital, Brazil, Payments, Online Payments, Gamification


Google Is Adding Support for Digital Covid-19 Vax Cards Into Android

With hot vax summer already in full swing, Google is now making it easier to keep your vax card handy by building support for digital vaccination cards into Android itself. Read more...
Tags: Google, Android, Science, Technology, Google Search, Smartphones, Computing, Mobile Payments, Online Payments, Operating Systems, Alphabet Inc, Google Pay, Mobile Linux, Technology Internet, Health Medical Pharma


Messenger adds Venmo-like QR codes for person-to-person payments in the U.S.

This spring, Facebook confirmed it was testing Venmo-like QR codes for person-to-person payments inside its app in the U.S. Today, the company announced those codes are now launching publicly to all U.S. users, allowing anyone to send or request money through Facebook Pay — even if they’re not Facebook friends. The QR codes work similarly to those found in other payment apps, like Venmo. The feature can be found under the “Facebook Pay” section in Messenger’s settings, accessed by tapping on you...
Tags: Mobile, Facebook, Apps, Messenger, Technology, Finance, Social Media, Tech, E-commerce, Paypal, Software, United States, Facebook Messenger, Mobile Payments, Online Payments, Cryptocurrencies


Messenger adds Venmo-like QR codes for person-to-person payments in the US

This spring, Facebook confirmed it was testing Venmo-like QR codes for person-to-person payments inside its app in the U.S. Today, the company announced those codes are now launching publicly to all U.S. users, allowing anyone to send or request money through Facebook Pay — even if they’re not Facebook friends. The QR codes work similarly to those found in other payment apps, like Venmo. The feature can be found under the “Facebook Pay” section in Messenger’s settings, accessed by tapping on you...
Tags: Mobile, Facebook, Apps, Messenger, Technology, Finance, US, Social Media, Tech, E-commerce, Paypal, Software, United States, Facebook Messenger, Mobile Payments, Payments


How to permanently delete your Cash App account and unlink it from your bank

If you're ready to delete your Cash App account, you can do so in the mobile app. Plume Creative/Getty Images You can delete your Cash App account from the Account Settings page on an iPhone, iPad, or Android. Before you delete your account, make sure to transfer any remaining funds to your bank account. You should permanently delete your Cash App account before you delete the app on your device. Visit Insider's Tech Reference library for more stories. Cash App is useful for transf...
Tags: Trends, Online Payments, Tech Insider, Square Cash app, Cash App, Payment Apps, Tech Reference, Software & Apps (Reference, Tech How To, Melanie Weir, Eliza Goodwin, Grace Eliza Goodwin Insider, Cash Out Grace Eliza Goodwin Insider


Jeeves emerges from stealth with $131M in debt and equity and a16z as a lead investor

Jeeves, which is building an “all-in-one expense management platform” for global startups , is emerging from stealth today with $131 million in total funding, including $31 million in equity and $100 million in debt financing.  The $31 million in equity consists of a new $26 million Series A and a previously unannounced $5 million seed round. Andreessen Horowitz (a16z) led the Series A funding, which also included participation from YC Continuity Fund, Jaguar Ventures, Urban Innovati...
Tags: Fundings & Exits, Startups, TC, Apps, Money, Mexico, Finance, Funding, NFL, Startup, Tech, Banking, Colombia, Canada, United States, Chile


Is PayPay's 'Buy New Pay Later' Installment Plan Worth It?

With the boom of Buy Now Pay Later (BNPL) retail financing, the preference for no-interest installment plans has prompted popular payment apps like PayPal to launch their own versions. If you’re a regular user of PayPal who’s new to this form of payment, here’s a look at how it works and how to set it up.Read more...
Tags: Money, Paypal, Mobile Payments, Online Payments, Credit Card, Lifehacks, Financial Services, Cryptocurrencies, Layaway, Sephora, Debit Card, Urban Outfitters, Electronic Funds Transfer, Payment Systems, Draftbuy Now Pay Later


Venmo Stops Payments for Palestinian Relief Funds, Citing 'Security Concerns'

We’re officially entering the second week in a row of fighting between Israel and Palestine, which means we probably haven’t seen the last of the hundreds of deaths and countless injuries inflicted on Gaza residents thus far. If you’re looking for a way to donate to the victims, then a quick word of advice: maybe…Read more...
Tags: Science, Israel, Paypal, Gaza, Palestine, Mobile Payments, Online Payments, Cryptocurrencies, Venmo, Palestinians, Financial Technology, Palestinian National Authority, Cashless Society, Business Finance, Payment Systems, Interpal


Google Pay update adds grocery offers, transit expansions, and spending insights

Following November’s overhaul of Google Pay, which saw the service expanding into personal finance, the company today is rolling out a new set of features aimed at making Google Pay more a part of its users’ everyday lives. With an update, Google Pay will now include new options for grocery savings, paying for public transit, and categorizing their spending. Through partnerships with Safeway and Target, Google Pay users will now be able to browse their store’s weekly circulars that showcase the ...
Tags: Apple, Google, Android, Personal Finance, Finance, Tech, Chicago, United States, Mobile Payments, Bank, Apple Pay, Online Payments, Target, Bay Area, San Francisco Bay Area, Citi


PayPal’s ambition and uphill battle in China

Over the last few months, PayPal has been quietly gearing up for its expansion in China. At the recent Boao Forum for Asia, China’s answer to Davos, the American payments giant said its strategy for China is not to challenge the duopoly of Alipay and WeChat Pay. Instead, it wants to focus on cross-border business and provide gateways both for Chinese merchants to collect funds and for Chinese consumers to pay for overseas goods. It’s certainly a lucrative area. The market size of cross-border e-...
Tags: Amazon, TC, Ecommerce, Asia, Ebay, Finance, China, Tech, Paypal, Davos, Tencent, WeChat, Alipay, Payments, Online Payments, Online Stores


Clubhouse Is Partnering With Stripe To Offer Direct Payments, and Creators Will Get 100% of the Profits

The invite-only audio chat app Clubhouse is sweetening the deal for creators by offering a direct payment option that would allow them to reap 100% of the rewards.Read more...
Tags: Science, Technology, Social Media, Software, Mobile Payments, Online Payments, Stripe, Up, Clubhouse, Mobile Applications, Business Finance, Service Industries, Social Networking Services, Payme


Fraud prevention platform Seon raises a $12M Series A round led by Creandum

Seon, which lets online businesses fight online fraud like fake accounts has raised a $12 million Series A round led by Creandum, with participation from PortfoLion, part of OTP Bank. The funding appears to be one of Hungary’s larger series A rounds to date.   Seon is a fraud-detection startup that establishes a customers’ ‘digital footprint’ in order to weed out false accounts and thus prevent fraudulent transactions. Clients include Patreon, AirFrance, Rivalry and Ladbrokes Launched in 2017, t...
Tags: TC, Europe, Social Media, Tech, Ceo, Hungary, Mobile Payments, Online Payments, Financial Services, Ladbrokes, Patreon, Creandum, Revolut, Izettle, Cfo, General Partner


Samsung and Mastercard Are Teaming Up On a Biometric Credit Card

Samsung and Mastercard are officially teaming up on a credit card with a built-in fingerprint scanner, Samsung announced on Thursday. These so-called “biometric cards” will come baked in with a “several key discrete chips” from Samsung’s side, and are planned to be compatible with any point of sale (POS) terminal, or…Read more...
Tags: Apple, Google, Science, Money, Samsung, Social Issues, Mobile Payments, Apple Pay, Online Payments, Mastercard, Contactless Payment, Surfaces, Cashless Society, Smart Card, Ubiquitous Computing, Google Pay


Is PayPal secure? How the service protects your transactions, credit card data, and more

PayPal is about as secure as it gets in terms of online transactions. Kittiphan Teerawattanakul / EyeEm/Getty Images PayPal is a highly secure financial service, backed with some of the best end-to-end encryption available. You should also make sure to enable two-factor authentication, and delete any unused bank accounts or email addresses. Even with all this security, remember that no online service is immune to hacking or theft. Visit Insider's Tech Reference library for more stories. Pa...
Tags: Security, Trends, Paypal, SSL, Online Payments, IDX, Tom Kelly, Dave Johnson, Financial Security, Tech Insider, Monica Eaton Cardone, BI-freelancer, Tech Reference, Software & Apps (Reference, Tech How To, Online Payment Processing


Bitcoin Burning a Hole in Your Pocket? Now You Can Spend It Using Apple Pay

In case you haven’t noticed, Bitcoin’s having a bit of a moment. The cryptocurrency’s value reached record heights in recent weeks, you’ll soon be able to , and, as of Friday, you can now spend Bitcoin (and other cryptocurrencies) via Apple Pay.Read more...
Tags: Apple, Science, Bitcoin, Online Payments, Cryptocurrencies, Bitpay, Digital Currencies, Binance, Payment Systems, Technology Internet, Economics Of Bitcoin


When does Airbnb charge you? Here's what you need to know about upfront or installment payments

You can verify when Airbnb will charge you for a reservation by logging into your account in a web browser. valentinrussanov/Getty Images Airbnb will charge you for a reservation for either a portion or the entirety of the cost upon the host's acceptance of your booking.  Airbnb's payment plan option allows you to pay a portion of the booking fee upfront while reserving the remainder of the balance for a later date.  Airbnb holds all booking payments for 24 hours after check-in before rele...
Tags: Travel, US, Trends, Paypal, United States, Airbnb, Online Payments, Travel Booking, JCB, Tech Insider, BI-freelancer, Tech Reference, Software & Apps (Reference, Tech How To, Jennifer Still, Online Payment Processing


Venmo to gain crypto, budgeting, savings and Honey integrations this year

The Venmo mobile payments app is going to look very different in 2021 as it inches closer to neobank territory with expansions into budgeting, saving and cryptocurrency, said Venmo parent company PayPal, during its fourth-quarter earnings on Wednesday. The company also plans to put its $4 billion Honey acquisition to work by integrating its suite of shopping tools into the Venmo app, including merchant offers, deals, price tracking and wish lists. PayPal already signaled its intentions to bring ...
Tags: Finance, Tech, E-commerce, Paypal, Online Shopping, Mobile Payments, Online Payments, Financial Services, Digital Currency, Venmo, Mobile Banking, Honey, FDIC, Dan Schulman, Schulman, Venmo Venmo


China’s draft payments rules put Ant, Tencent on notice

A string of recent events in China’s payments industry suggests the duopoly comprising Ant Group and Tencent may be getting a shakeup. Following the abrupt call-off of Ant’s public sale and a government directive to reform the firm’s business, the Chinese authorities sent another message this week signaling its plan to curb concentration in the flourishing digital payments industry. The set of draft rules, designed to regulate non-bank payments and released by the People’s Bank of China (PBOC) t...
Tags: TC, Asia, Finance, China, Tech, Paypal, Tencent, WeChat, Mobile Payments, Goldman Sachs, Alipay, Payments, Alibaba Group, Online Payments, Meituan, Pboc