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eWallets Don’t Make Money, Says Mandiri Capital Chief

PYMNTS

The CEO of PT Mandiri Capital Indonesia, the venture capital arm of PT Bank Mandiri, said the only way digital payment platforms can ever make money is by acting as a sort of portal into other services, otherwise it’s “just a cash-burning exercise,” according to reports. Nobody makes money from e-wallets,” Danusaputro said.

Capital 141
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Solve This Problem with Your Strategic Horizon

South State Correspondent

Strategic Horizon and Capital As mentioned, the problem that bank’s often run into when it comes to strategic planning is their time horizon is too short. The bank that will be around in the next 50 years will be one that develops the ability to build infrastructure now that allows for efficient innovation in the future.

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Tonal Raises $120M For Connected Fitness Growth

PYMNTS

17) that it has raised $120 million in a second round of venture capital funding. This new capital will allow us to accelerate our marketing initiatives while scaling our supply chain so that we can change even more people’s lives through the power of strength training," Tonal CEO Aly Orady wrote in a blog post.

Training 220
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Top News In Payments: Stripe Rolls Out Stripe Capital; Cards Generate $6.13T In Spending

PYMNTS

Today in the payments news roundup, Stripe launched Stripe Capital to simplify the way internet companies can access funds. US Payment Card Market Tops $6T. Stripe unveiled the rollout of Stripe Capital to simplify the way internet companies can access funds. Also, commercial and consumer cards issued in the U.S.

Capital 128
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Peloton’s Latest Workout: Putting Delivery Delays At The Back Of The Class

PYMNTS

Investors applauded the announcement to increase capacity, and drove Peloton’s stock to an all-time high, while marking a 400 percent year to date gain and $47 billion market cap. Increased manufacturing capacity should help alleviate the biggest impediment to growth,” KeyBanc Capital Markets analyst Ed Yruma said.

Exercises 262
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Mint Payments Completes $6M Placement For Southeast Asia Expansion

PYMNTS

10) announced it completed a placement of new shares, which it is using to expand in South East Asia ’s payments market. The report noted the capital raising will be undertaken in two tranches, with tranche 1 comprised of 50.6 million, enabling it to be well-positioned to capitalize on new opportunities over the medium term.

Exercises 120
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Participation in Investor Communications Japan’s Proxy Platform Surpasses 1,700 Listed Companies

Bobsguide

As of June 2022, over 1,600 companies listed on the Prime Market of the TSE participate in the Platform, representing 87% of the companies in that market or 98% by market capitalization. After almost 18 years, the Platform has become a key part of the infrastructure of Japan’s capital markets.

Company 68