South Koreans get a first look at Samsung’s new mobile payment solution, P2P lending company BLender secures new funding, BitPay reports huge spikes in Bitcoin transactions in Latin America, and more top stories from this week in FinTech.
On July 16, Samsung announced the launch of a trial service of its mobile payment solution Samsung Pay for select customers in Korea. The official rollout is expected later this year. PYMNTS reports:
“According to Samsung, the technology available in Samsung Pay works with both near field communication (NFC) as well as traditional magnetic stripe card readers. This compatibility puts Samsung Pay in a good position with merchants because they will not have to upgrade payment terminals in order to accept contactless payments, which may see Samsung Pay being used in even more stores.”
BLender just secured US$5M in funding from Blumberg Capital. The P2P lending startup currently operates within Israel, but has plans expand into Western Europe and Latin America in the coming months. From Geektime:
“BLender’s hybrid model creates credit ratings based on financial, social, and demographic background to upend the banks’