Fintech, Finance, Technology, Banking Highlights – 27 April 2018

Santander UK arrives on Fitbit smartwatch

Fitbit, the global wearables brand, announced the availability of Santander on Fitbit PayTM for UK users.

The partnership opens-up contactless payment from the wrist on Fitbit smartwatches to all personal and business Santander debit and credit card users, MasterCard and Visa (excluding ATM only cash cards, Visa Top-up Debit Card and Business Visa Electron).

You can now make secure payments on the go directly from your wrist with Fitbit Ionic and Fitbit Versa smartwatches, leave your smartphone and wallet at home.

Matt Hall, Director of Banking and Unsecured Credit at Santander UK, said: “We are always looking at how we can offer our customers new ways to help them manage their money. With more people embracing a healthier lifestyle, Fitbit is the ideal partner to deliver a convenient and simple payment experience. This new method complements our existing mobile payment solutions and shows our commitment to improving the digital options available to our customers.”

Ant Financial invests in Banladesh-based bKash

Mobile financial services provider of Bangladesh, bKash Limited and Ant Financial Services Group, operator of Alipay, announced a strategic partnership to promote financial inclusion for the unbanked and underbanked communities in Bangladesh.

The partnership involves Ant Financial investing into bKash and increasing its technological capabilities, allowing it to provide greater convenience and security in mobile financial services throughout Bangladesh.

Established in 2010 by founding shareholders, BRAC Bank Limited and Money in Motion LLC, bKash is running a network of more than 180,000 agents throughout urban and rural areas of Bangladesh with over 30 million registered accounts.

“Along with its investment, Alipay brings the best payment technologies built by thousands of engineers and the knowledge of applying those technologies to economies like China which went through a massive transformation in recent years. Such track record makes Ant Financial a fitting partner for bKash since Bangladesh too has a large population of 160 million and an economy that is advancing rapidly. This investment opens many new opportunities for bKash and demonstrates the confidence a world-class player is placing in Bangladesh,”said Kamal Quadir, Chief Executive Officer of bKash.

Square to buy website builder Weebly

Square has entered into a definitive agreement to acquire Weebly. Square will pay a mix of cash and stock of approximately $365 million, which includes Square restricted stock units for Weebly’s founders and employees that will vest over four years subsequent to closing.

This consideration includes Weebly’s estimated net cash. Weebly is a San Francisco–based technology company that provides customers with tools to easily build a professional website or online store.

Square and Weebly will give sellers one cohesive solution to start or grow an omnichannel business. Today, it is important that sellers can reach buyers as they move between channels (in person, online, in apps) during discovery, purchase, and even returns and exchanges. An integrated suite of services will make critical business tasks like engaging with customers, managing orders, growing sales, and making informed business decisions easier than ever for sellers.