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Welcome to your daily FinTech news!
In case you missed it, please see below today's most relevant news, or tune in to our Daily Fintech Podcast here.
NEWS HIGHLIGHT
Klarna partnered with CellPay. As part of the tie-up, CellPay will offer Klarna’s interest-free ‘Pay in 4’ option to consumers in the US who are buying its prepaid cell phone minutes. The payment option will be available during checkout and will allow CellPay consumers to divide their payments into four instalments. Link here.
BREAKING NEWS
Prosus pulls out of a $4.7 billion BillDesk deal. While PayU in September received approval by the Competition Commission of India (CCI) to proceed with the deal, the firm now says that certain conditions "were not fulfilled by the 30 September 2022 long stop date, and the agreement has terminated automatically". Link here.
HSBC is considering selling its business in Canada. The business, unlike some others HSBC has tried to dispose of in recent years, is profitable, making C$490 million before tax in the first half of this year. That means the lender would hope to charge any buyer a substantial premium to its current valuation. Link here
UK Banks to shutter joint telephone payment system Paym. Which is a simple method of sending and receiving cash via a mobile phone number. It will close permanently for all users on March 2023. Payment volumes made through Paym have diminished over the past three years. Link here