In today’s top payments news around the world, BlaBlaCar plans to utilize its $115 million funding round to bolster its travel app, while FIS is expanding its payment processing functionalities into Malaysia, Nigeria and South Africa. Plus, Saudi Arabia’s Saudi Payments Network is teaming with Mastercard and IBM to launch instant payments.
France-based BlaBlaCar, a travel network that lets users share rides, intends to harness its $115 million funding round to strengthen its travel app. The infusion will be utilized to help the firm grow as the platform experiences formidable growth in markets beyond Europe. BlaBlaCar has seen a huge growth in reservations for busses and carpools in contrast to pre-pandemic levels.
FIS is growing its payment processing functionalities into South Africa, Nigeria and Malaysia. The firm announced that it had received a domestic acquiring license in Malaysia to offer its Worldpay processing system. FIS is offering domestic payment processing in South Africa and Nigeria via its deal with payments technology company Flutterwave.
Saudi Arabia’s Saudi Payments Network is collaborating with Mastercard and IBM to roll out instant payments in the country. “The instant payments system ‘sarie’ can enable us to drive usage and engagement across the Saudi payments ecosystem of banks and businesses,” according to Fahad Al-Akeel, managing director, Saudi Payments.
France-based LVMH is teaming with two other big names, Cartier and Prada to launch a global luxury blockchain. “By joining forces with other luxury brands on this project, we are leading the way on transparency and traceability. I hope other prestigious players will join our alliance,” LVMH Managing Director Toni Belloni said in an announcement.
Selected by EFXA