Towards the end of 2012 Sberbank, the largest state-owned bank in Russia, purchased 75 percent stake in the online payment service Yandex.Money which was valued at $60 million. Yandex, the most popular search engine in Russia, was seeking investors as they were unable to expand the fast growing online payment service on their own. Read
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Dwolla, an alternative cash based payment network, enables consumers to make retail payments and peer-to-peer transfers over their hybrid ACH network. In June Dwolla launched their FiSync network which enables real-time bank transfers to Dwolla accounts, meaning users can connect participating bank accounts through their Dwolla account to make purchases in-store and online or transfer
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In June Square announced that they are now processing $6 billion annually while VeriFone and Intuit compete with similar product offerings that allow merchants to accept and process credit card payments via their mobile device. Meanwhile iZettle, dubbed the Square of Europe, expands from Scandinavia to the UK now with over $16 million raised in
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eBay recently announced their purchase of BillSAFE, a service which allows consumers to shop online and receive an invoice for payment. Read More
