Today in the Connected Economy: Facebook Launches Split Payments

Today in the connected economy, Facebook Messenger makes good on its promise to launch a Split Payments feature, as well as a couple of other tools, while Mastercard works with Egypt’s Kashat to helped the country’s unbanked.

Also, product performance analytics company SkyPad teams up with Saks Off 5th to change the the way sales and inventory data is shared between Saks and its vendors, and Clik2Pay rolls out a small business-focused mobile app.

Facebook Unveils Split Payments For Messenger

Two months after saying it was testing the feature, Facebook has launched split payments for Messenger.

The feature is now available in the U.S. on iOS and Android phones, letting users split bills evenly or customize the amount each person owes, Facebook said on its blog.

Also in the most recent rollout to Messenger: a way to send longer and more detailed voice messages, and a service called “Vanish” that makes messages disappear after they’re seen.

FinTech Kashat, Mastercard Partner to Expand Financial Services to Egypt’s Underserved

Mastercard and Egyptian FinTech Kashat have inked a deal to digitize onboarding, disbursement and collections for the Middle East and North Africa.

The five-year agreement comes at a time when Egypt’s nearly 65 million people above the age of 15 is largely dependent on cash, with 67% of the population without a bank account.

As a result of the collaboration, Kashat can issue prepaid cards to customers, promising to offer safe and convenient ways to withdraw money and make loan payments through Mastercard’s technology and payment rails. The two companies say the partnership highlights their commitment to drive financial inclusion in Egypt.

Zip Crafts Exclusive Partnership With Swappa Used Tech Platform

Buy now, pay later (BNPL) firm Zip has partnered with used technology marketplace Swappa to become the only company of its kind the platform offers.

The collaboration means more customers can buy secondhand smartphones, laptops, tablets, smartwatches, gaming systems, cameras and smart home technology and pay for it in installments instead of all at once.

“As the exclusive BNPL partner for Swappa, Zip is excited to bring a new short-term financing option to consumers interested in peer-to-peer marketplaces,” said Levi Aron, chief growth officer at Zip.

SkyPad Partners With Saks Off 5th on Performance Analytics

Product performance analytics company SkyPad is working with Saks Off 5th to “significantly transform the way sales and inventory data is shared between Saks Off 5th and its vendor partners,” the two companies announced.

“As Saks OFF 5TH continues to experience significant growth, we are focused on increasing our digital capabilities to ensure we deliver a best-in-class customer experience,” said Molly Taylor, chief merchant, Saks Off 5th. “We believe Skypad’s innovative technology will provide a new level of insights between our dedicated merchant team and vendor partners, further enhancing our ability to deliver a compelling assortment to our fashion-seeking customers.”

Clik2pay Rolls Out Small Business-Focused Mobile App

Payments provider Clik2pay has unveiled a free mobile app that lets merchants collect money from consumers when they pay for their purchases securely and directly from their bank accounts.

Initially only available for small businesses, Clik2pay’s app is now open to the millions of small businesses and micro-merchants across Canada, the company said in an announcement.

“The high costs of credit card payments, on top of the economic slowdown caused by the pandemic, is really hurting small business,” said Mike Bradley, founder and CEO of Clik2pay.