Now in the connected economy, Revolut is launching its card reader, marking the start of its in-person payment ambitions. Additionally, Uber is bringing its services to Israel, while Funding Circle and DreamSpring are joining forces to offer financing to underserved small and medium-sized businesses (SMEs).
Revolut enters the in-person payment space with a card reader
Revolut has launched Revolut Reader, a pocket-sized card reader that allows merchants to accept payments in person and on the go. Deployed in the UK, Revolut Reader offers instant and secure transactions for debit and credit cards, as well as contactless payment methods.
Uber brings ride-sharing platform to Israel
Continuing its global expansion, Uber Technologies is launching in Israel, joining its carpooling platform with a national network of taxis. Thousands of independent and company-affiliated taxi drivers have reportedly joined Uber’s Israeli operation, with the service also offering ride-sharing, primarily for passengers in Israel’s two largest cities, Jerusalem and Tel Aviv.
Funding Circle, DreamSpring team will provide funding for SMEs
SME lending platform Funding Circle is working with DreamSpring, a non-profit Community Development Finance Institution (CDFI), to improve access to finance for SMEs working in underserved communities. DreamSpring SMB customers who apply through both companies’ portal will receive one-on-one assistance from a Funding Circle account manager, approval within hours, and access to money in just 48 hours.
Wirex Credit Intros Crypto Loans
Payments platform Wirex has launched Wirex Credit for cryptocurrency-backed loans that allows users to borrow up to $100,000 in stablecoins. The product provides users with access to credit under all market conditions and is tied to the company’s application. Wirex is the first company in the world to develop an encrypted card, with credit that can be spent anywhere Visa or Mastercard is accepted.