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U.S.-Based Ebix Buys Majority Stake in India’s ItzCash

Indian payment solutions provider and Pay Award-winning ItzCash Card Ltd. has a new main backer. U.S.-based Ebix, which sells on-demand software and e-commerce services, has taken an 80 percent stake in the company for $120 million.


European Banks Call for EC Support on Screen-Scraping Ban

The European Banking Authority recommended a screen-scraping ban on future electronic payments in the European Union. Now the European Banking Federation is asking the European Commission for its support for concerns over the privacy of client data, cybersecurity and innovation.


InComm’s Asia-Pac Expansion Continues with Sony Deal

InComm and Sony Interactive Entertainment HK Ltd. have teamed up to provide promotional programs in the Hong Kong market. The initiative is part of InComm’s continued investment in promotional tools that change how gift cards are purchased by connecting physical and digital channels.


UBank’s Chatbot Helps Customers with Home Loan Applications

Bank has found another way to use the artificial intelligence-powered virtual assistants. The online-only Australian bank launched RoboChat May 15 to help home buyers—and homeowners who want to refinance—complete UBank’s online home loan application more easily.


French Retailer, Bank Tag Team on Mobile Wallet

France-based retail giant Carrefour and French bank BNP Paribas have joined forces to launch Lyf Pay, a new mobile wallet that supports in-store and P2P transactions as well as loyalty cards, coupons and offers.


Vodafone Sells M-PESA Interest to South African Affiliate

Vodafone has transferred most of its ownership stake in Safaricom—the provider of Kenya’s mega-popular M-PESA mobile money transfer service—to Vodacom, Vodafone’s South African affiliate.


China’s Central Bank Sets up Fintech Committee

The People’s Bank of China has set up a fintech committee aimed at strengthening financial research, planning and coordination. The PBOC will study the impact of fintech on monetary policy, financial markets, financial stability, payments and settlement.


Alipay Expands in North America with First Data Deal

The Alipay online payment platform operated by Ant Financial Services Group is moving further into North America through an agreement with payments technology provider First Data. Alipay is considered the world’s largest online and mobile payment platform, with more than 450 million global active users.


Going Digital: E-Gift Cards Post Triple-Digit Growth

Consumers in India are increasingly turning to physical and digital gift cards. A new study showed that providers issued some 50 million gift cards over the past year, up from 20 million from the previous 12 months, an increase of 150 percent.


Amid Brexit, London Keeps its Fintech Glow—but Berlin Might Change That

Score one for London. Even as the U.K. prepares to leave the European Union through Brexit, the British capital and banking and investment center stands as the global hub of fintech, according to Paybefore readers.