Singapore Marketplace Lender Capital Match Facilitates S$40M+ in Cumulative Origination

By  for crowdfund insider

Capital Match announced that it has facilitated over S$40 million in cumulative origination since the start of its operations in 2015. The company claims itself as the largest pure marketplace platform in Singapore and greater Southeast Asia offering invoice financing and secured lending products. Accredited investors globally may now invest in receivables financing of Singapore-based companies with Capital Match’s recent introduction of a custodian trust account (restrictions apply to US investors).

“We decided to establish the platform in Singapore because it boasts one of the strongest legal jurisdictions in the world,” said Capital Match CEO Pawel Kuznicki. “With an advanced economy and mature business culture, Singapore resembles Australia or the UK more than a typical developing Asian economy.”

In early 2017, Capital Match obtained a CMS Licence with the Monetary Authority of Singapore, allowing the platform to offer a wider range of securities to investors. Capital Match currently offers short term invoice financing facilities with net interest to investors in the range of 15-35% annualised and secured lending products with net interest of 6-30% and tenure of 3-24 months. In invoice financing, majority of the facilities are notified to the sellers’ debtors with the payment made directly to a Capital Match-controlled bank account. Additionally, the platform often requests the sellers to procure trade credit insurance or registers a charge against all of the sellers’ receivables.

Capital Match reported that it continues to grow strongly month-over-month on invoice financing origination and is ramping up on secured lending, having currently originated S$4-5 million (US$2.9-3.6 million) across 60-80 facilities per month and has a low minimum investment size per facility of S$1,000 (US$700) or less, providing a high degree of diversification.

Capital Match has received funding from investors including Dymon Asia Ventures, a fintech-focused venture capital fund which backs promising early stage fintech companies across Southeast Asia, and also expects to announce additional partnerships in the near future.

 

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Russia’s Sberbank accepts JCB payment cards

By JCB International

JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the signing of a license agreement with Sberbank of Russia, the largest bank in Russia, the Commonwealth of Independent States (CIS) and Central and Eastern Europe.

Sberbank agreed to start accepting JCB cards on the Sberbank nationwide POS terminal network in 2018.

Sberbank has the largest POS terminal network in the country. JCBI started card issuing business with several local banks in Russia in 2015 and the card member base has been expanding. The partnership with Sberbank of Russia will ensure that the JCB card members enjoy more convenience and increase JCB brand awareness and presence in the market.

Kimihisa Imada, President and COO of JCBI, said: “We are sure this arrangement will support our objective as a very active player in the payment industry in Russia. We believe our collaboration will contribute to the growth of card payments and provide greater convenience to JCB card members both in Russia and from all over the world.”

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Spending tops $20 trillion on global card networks in 2016 – Infographic

By Alex Rolfe for Payments Cards And Mobile blog

Global card purchase volume for goods and services, which excludes cash advances on credit cards and cash withdrawals on debit cards across the global card networks, grew by 5.8% to $20.606 trillion in 2016, according to The Nilson Report.

UnionPay debit cards were the most popular payment product based on purchase volume, followed by Visa credit cards, Visa debit cards, UnionPay credit cards, Mastercard credit cards, Mastercard debit cards, American Express cards, JCB cards, and Diners Club/Discover cards.

Visa, UnionPay, Mastercard, JCB, Diners Club/Discover, and American Express brand general purpose cards generated 257.17 billion purchase transactions at merchants in 2016, an increase of 13.3% — 30.21 billion more than in 2015. These transactions included all commercial and consumer credit, debit, and prepaid cards.

Visa cards generated 54.06% of all purchase transactions on general purpose cards worldwide. Debit cards with the Visa brand continued to account for the most purchase transactions with a share of 34.82%, followed by Visa credit cards with 19.23%.

Mastercard debit cards had a 13.30% share, overtaking Mastercard credit cards with a 12.87% share. UnionPay credit cards had a 7.59% share, and UnionPay debit cards had a 7.32% share. American Express had a 2.81% share, followed by JCB cards with 1.15% and Diners Club/Discover cards with 0.91%.

UnionPay had the largest percentage increase in purchase transactions. Combined, UnionPay credit and debit card purchase transactions at merchants grew 32.0% in 2016.

Debit and prepaid cards accounted for 55.44% of purchase transactions, up from 54.64% in 2015. Visa purchase transactions were 64.42% debit, up from 63.91%. Mastercard purchase transactions were 50.82% debit, up from 49.99%. UnionPay purchase transactions were 49.08% debit, up from 46.90%.

Credit, debit, and prepaid cards in circulation worldwide totaled 11.15 billion at the end of 2016, up 9.4% over 2015. Of the total cards in circulation, 77.37% were debit, up from 75.89%. Debit cards in circulation grew by 894.8 million compared to a 67.1 million increase for credit cards.

UnionPay added the most cards (683.0 million), an increase of 12.6%, while JCB had the second highest percentage increase in cards (up 10.1%), adding 9.4 million cards. Visa added 141.4 million cards (up 4.8%), Mastercard added 136.9 million cards (up 8.9%), American Express had a reduction of 7.9 million cards (down 6.7%), and Diners Club/Discover declined by 1.0 million cards (down 1.7%).

Purchase transactions on global card networks 2016

Purchase transactions on global card networks 2016

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BBVA brings info and payments to social and messaging networks

BBVA is embedding more deeply with social and messaging networks through a new bot that lets Spanish customers access financial information via Facebook and Telegram, and a tool for making payments from Whatsapp.

With some 86% of Spanish internet users accessing Facebook, WhatsApp, YouTube, Twitter or Instagram at least once a day, BBVA says it wants to make it easier for customers to carry out everyday transactions without having to leave their social networks.

In a Spanish first, the new chatbot allows customers to view financial information such as their available account balance summaries, their IBANs, or the remaining credit on their cards from within Telegram or Facebook Messenger.

For Messenger, customers need only find the @bbva­­_espana link or go directly to BBVA Spain, while in order to obtain access via Telegram, they can seek out the @bbva­­_esp­_bot contact.

Meanwhile, the new Cashup tool lets customers registered to the Bizum payment service send money to any contact instantly without having to leave their chat, no matter whether they are within Whatsapp, Telegram, Hangouts, Messenger, or another messaging app.

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LendingClub Increases Retail Investor Minimums

LendingClub (NYSE:LC) has upped its minimum deposit to a minimum initial amount of $1,000 for all new retail investors making their first investment through Lending Club. LendingClub said this part of the process of improving the investor experience. While still a small amount, increasing the minimum should help avoid accounts with highly concentrated holdings and thus increased risk. LendingClub advocates holding a highly diversified portfolio to mitigate intrinsic risk.

“Our main goal is to deliver a better investing experience. Data shows that Lending Club investors who are able to diversify their accounts have generally experienced less volatility than investors with more concentrated holdings. This is in part because investors are able to purchase multiple Notes, reducing their exposure to any single Note.”

LendingClub states that 98% of accounts with over 100 Notes of similar size have seen positive returns.

LendingClub Corporation
LC 5.55 -0.05 -0.89%

While the majority of capital invested in the LendingClub platform is institutional money, retail investors are still viewed as a vital customer of the platform. Unlike most other US based online lenders, LendingClub accepts both accredited and non-accredited investors – depending on the state of residence.

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