Today in FinTech: Smart Data; Logistics Payments; SMB Solutions; Reverse Logistics; Open Banking Startups

In today’s FinTech news, Affirm said its data analytics are a central component in knowing who will pay. Meanwhile, PayCargo is helping logistics firms on land, sea, and air manage digital payments. Plus, Mastercard is helping open banking startups scale.

Affirm: Smart Data Provides Edge in BNPL Space

Buy now pay later (BNPL) company Affirm CFO Michael Linford said its data-driven underwriting process gives it an edge over other firms in the sector. Deep data analytics enables Affirm to evaluate transactions and consider factors like the time of day and other seemingly small details to ascertain risk, the company said in an online fireside chat with shareholders.

PayCargo Raises $130M for Global Expansion

Logistics payments firm PayCargo is using the capital from its Series C funding round to further its global expansion efforts across Asia, the Middle East and Latin America. Blackstone Growth was the sole investor in the round. PayCargo helps companies facilitate and manage payments in the ocean, air, trucking and rail industries.

Paysend Launches Business Solution to Power SME Payments

Paysend Business was introduced by money transfer firm Paysend to provide small- to medium-sized businesses (SMBs) across the map with end-to-end payments and other tools to facilitate growth and diversification. The new business product enables SMBs to send, hold and receive digital payments in multiple currencies using myriad payment gateways, including Apple Pay and Google Pay.

Cartlow Raises $18M Series A to Further KSA Growth

Reverse logistics firm Cartlow is using the fresh capital from its funding round to accelerate expansion efforts in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE). The sole backer in the round was the AlSulaiman Group. Headquartered in Dubai, Cartlow offers an end-to-end reverse logistics solution and is focusing on reCommerce solutions, transforming the preowned industry ecosystem, and eliminating unsustainable practices.

Mastercard Launches Start Path Open Banking Global Initiative

Mastercard is introducing an initiative to help open banking startups scale, discover innovation opportunities, and develop new customer experiences. The Start Path Open Banking global program is three months long and teaches companies about Mastercard’s open banking platforms through wholly owned subsidiaries Finicity and Aiia.