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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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How to Set Your Strategic Planning Time Horizon

South State Correspondent

Banks consistently produce under their cost of capital. However, for the average bank, their cost of capital is between 9% and 14% depending on the bank’s equity liquidity with an average of 12.5%. As an industry, we misallocate capital. However, if you want to build a legacy institution, then your capital should be longer.

How To 195
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Solve This Problem with Your Strategic Horizon

South State Correspondent

In comparison, investments in new technology or new business lines pale in comparison to other strategic investments due to the time and effort it takes to get a business line off the ground. Demographics shift, products change and technology drives channel preferences. This type of exercise is planning, not strategic planning.

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Fitness Platform Zwift Notches $450M Amid Home Workout Investment Craze

PYMNTS

16) unveiled a $450 million injection of capital by a group of investors led by KKR in exchange for a minority stake in the company. Zwift’s indoor fitness system leverages gaming technology to connect cyclists and runners with others also working out in their homes in “immersive 3D computer-generated worlds,” according to the company.

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Peloton Eyes 2019 IPO

PYMNTS

But in 2017, the company took in capital at a valuation of $1.25 Uber Technologies Inc. and Slack Technology Inc. Peloton, which is based in New York, offers exercise bikes that come with tablets and allow spin class subscriptions, enabling customers to tap into the atmosphere of a spin class from their own homes.

Exercises 211
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Today In Payments Around The World: Visa Debuts Europe FinTech Partnership Program; Payments Canada Teams With Mastercard’s Vocalink 

PYMNTS

Railsbank, the British Banking-as-a-Service (BaaS) upstart, completed a $37 million funding deal co-led by Ventura Capital and MiddleGame Ventures. Firestartr, Mitsui Fudosan, Moneta VC, Clocktower Technology Ventures, Global Brain and Anthos Capital also participated in the round.

Payments 142
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Peloton, Bike Company, Seeks Unicorn Valuation

PYMNTS

The New York–based company sells exercise bikes equipped with tablets that enable cyclists to subscribe to spin classes, enabling them to enjoy the workout class atmosphere from the comfort of their own home. billion, people familiar with the company told Bloomberg.

Company 108