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Yahoo
a day ago
- Business
- Yahoo
The Wise share price jumps 12% on US primary listing news
The Wise (WISE.L) share price was up 12% at one point this morning (5 June) after the bank announced plans for a primary listing in the US during its FY24 results release. The company will maintain a secondary listing in London but believes 'a primary US listing would help us accelerate our mission and bring substantial strategic and capital market benefits,' said Kristo Kaarmann, co-founder and CEO of Wise. 'The UK is home to some of the best talent in the world in financial services and technology, and we will continue to invest in our presence here,' he added. In the 2024/25 fiscal year, Wise emerged as the largest mover of institutional money in and out of Brazil and is now handling 12% of all cross-border transfers involving the Philippines. Product innovation has played a key role in its growth, with new features like interest-earning accounts in Australia and Quick Pay for business invoicing. Strategic partnerships with major financial institutions, including Standard Chartered (STAN.L), Morgan Stanley (MS) and Itau (ITUB), further bolstered its position. Customer activity surged in the past year, with active customers up 22% and a 23% increase in cross-border volumes. Customer holdings grew by 44% compared to the previous year and revenue increased 15% year on year to £1.2bn. Pre-tax profit rose by 17% to £564.8m, up from £481.4m in the previous year, highlighting the firm's strong operational momentum. Formerly known as TransferWise, Wise has emerged as a significant player in the fintech industry since its inception in 2011. Founded by Estonians Taavet Hinrikus, Skype's first employee, and Kristo Käärmann, a former Deloitte consultant, the company was born out of their frustrations with the high costs and lack of transparency in international money transfers. Their solution was a peer-to-peer platform that allowed users to transfer money across borders at the real exchange rate, significantly undercutting traditional banks. The company's innovative approach quickly attracted attention and funding from notable figures such as PayPal (PYPL) co-founder Max Levchin and Virgin Group's Richard Branson. By 2020, it had reached a valuation of £3.7bn, testament to the increasing demand for cost-effective international money transfer solutions. Wise offers strong growth potential as a leading fintech innovator in cross-border payments, but still carries notable risks. Regulatory changes are a key concern as it operates across multiple jurisdictions, threatening high compliance costs, currency volatility and integration difficulties. Additionally, it also faces stiff competition from traditional banks, fintechs and blockchain firms. The planned shift to a US primary listing adds near-term uncertainty for UK investors. Despite robust financials and global expansion, Wise's premium valuation leaves little room for disappointment. Investors should weigh long-term prospects against these risks, particularly in a sector where rapid disruption and regulatory oversight are ever-present. Out of 17 analysts following the stock, 11 have Buy ratings, five Hold and four Sell. But overall, forecasts lean negative, with the average 12-month price target 4.9% lower than today's price. Still, revenue is expected to reach £2.32bn by 2027, with earnings per share (EPS) expected to climb to 41p per share. Negative forecasts aside, I think the US listing is a good move that will help boost the bank's global position and profits. As such, I think it's still worth considering even for UK-centric investors. The post The Wise share price jumps 12% on US primary listing news appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Mark Hartley has no position in any of the shares mentioned. The Motley Fool UK has recommended PayPal, Standard Chartered Plc, and Wise Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
SCAN, WASH, GO! IMO CAR WASH LAUNCHES 'QUICK PAY' - A SEAMLESS, DIGITAL PAYMENT SERVICE
New app-based solution lets customers pay without leaving their cars Quick Pay now available in the UK and Germany MANCHESTER, England, June 2, 2025 /PRNewswire/ -- IMO Car Wash is revolutionising the car wash experience with the launch of Quick Pay, a brand-new digital payment solution designed to make car washing faster, easier, and more convenient than ever. Now available across the UK and Germany, Quick Pay allows customers to simply Scan, Wash and Go – all from the comfort of their car. By removing the need for physical payment terminals and reducing queue times, Quick Pay is set to enhance the customer experience while driving increased digital adoption and revenue growth. "Our customers expect speed, convenience, and ease – and Quick Pay delivers exactly that," said Carsten Karasch Managing Director (DE) at IMO Car Wash. "By embracing digital innovation, we're making the car wash process smoother while also opening up new opportunities to engage with customers and grow our digital revenue." Driving Growth Through Digital Innovation The launch of Quick Pay marks a significant step in IMO's digital transformation journey, helping to: Enhance the customer experience – Quick Pay enables a faster, frictionless transaction process, reducing wait times at busy locations. Acquire new digital-savvy customers – As consumers increasingly prefer mobile transactions, IMO is meeting their expectations with seamless, app-based payments. Increase digital revenue – Encouraging digital transactions helps IMO build stronger customer relationships and drive loyalty through personalised offers and app engagement. Business Quick Pay – Coming Soon Following the success of Quick Pay, IMO is preparing to launch Business Quick Pay, a dedicated platform for business account holders. Available via the IMO app, Business Quick Pay will provide fleet operators and corporate customers with a streamlined way to manage payments, track usage, and optimise their vehicle wash programs. Experience the Future of Car Washing Today Customers across the UK can start using Quick Pay now, with Germany set to follow in the coming weeks. To find your nearest IMO Car Wash and experience the speed and convenience of Quick Pay, visit Notes to Editor #IMOCarWash #QuickPay #DigitalInnovation #DriveClean #WashSmarter IMO Car Wash IMO Car Wash is headquartered in High Wycombe, Buckinghamshire, UK. The company started washing cars in Germany in 1965, it has now grown to become the world's largest car wash company, operating in over 715 locations in 12 countries across Europe and Australia, washing over 25 million cars annually. It's market leading Triple Foam, Rain Guard, Ultra HD, and Ceramic XTR products are exclusive to IMO. Photo - View original content to download multimedia: SOURCE IMO Car Wash Sign in to access your portfolio
TECHx
27-05-2025
- Business
- TECHx
Emirates NBD Launches Fourth Cohort of NDTI Program
Home » Emerging technologies » Fintech » Emirates NBD Launches Fourth NDTI Cohort Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT), has announced the launch of the fourth cohort of its National Digital Talent Incubator (NDTI)® program. The program is supported by major industry partners. These include the DIFC Innovation Hub, Visa, Microsoft, and Dell Technologies. It follows the success of three previous editions aimed at nurturing UAE National FinTech innovators. According to Emirates NBD, the FinTech sector currently contributes 8.7% to the UAE's Gross Domestic Product (GDP). The incubator spans six to eight weeks and is tailored to empower Emirati FinTech leaders. It provides: Resources, mentorship, and networking opportunities Guidance to scale innovative FinTech ventures Emirates NBD reported that this program supports the UAE's digital transformation by promoting talent and entrepreneurship in FinTech. The new cohort features startups targeting key industries: QuickPay: A digital platform for faster real estate invoice payments Carbon2Capital: An AI tool to track and reduce carbon emissions Jadwelny: A smart travel platform using AI for personalized trip planning Watermelon LTD: A digital F&B ecosystem connecting suppliers and outlets The program will include several enhancements. Participants will now have tailored meetings with decision-makers and senior stakeholders from Emirates NBD. Startups will also engage in dedicated Immersion Days and the Emirates NBD Decision Makers Series. FinTech founders will network with industry leaders and SMEs. They will also receive expert guidance on pitching to venture capitalists. In June 2025, participants will travel to London. There, they will connect with the global FinTech ecosystem, learn from the market, and gain confidence to grow internationally. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, revealed that the program is part of the bank's commitment to a thriving digital economy. He noted the initiative helps startups grow and positively impact the industry and economy. Mohammad Alblooshi, CEO of DIFC Innovation Hub, stated that empowering Emirati FinTech talent is key to building a future-ready digital economy. He added that the collaboration aims to offer the tools and exposure needed for startups to scale from Dubai to the world. The NDTI program reflects Emirates NBD's ongoing support for innovation and digital growth in the UAE. The bank reaffirmed its role as a key enabler of a diversified, knowledge-based economy.
Fintech News ME
27-05-2025
- Business
- Fintech News ME
Emirates NBD Launches Fourth Cohort of Fintech Talent Incubator
Emirates NBD has launched the fourth cohort of its National Digital Talent Incubator (NDTI) programme. The initiative is supported by several industry partners, including the DIFC Innovation Hub, Visa, Microsoft, and Dell Technologies. The programme has already completed three previous cohorts, aiming to support the development of the next generation of Emirati fintech professionals. The six-to-eight-week incubator is designed to equip Emirati entrepreneurs in the sector with resources, mentorship, and networking opportunities to help them grow their ventures. The programme also supports the UAE's broader digital transformation strategy by fostering local talent and entrepreneurship in fintech. The current cohort includes startups focused on a range of sectors. These include QuickPay, a digital platform that speeds up invoice payments in the real estate industry; Carbon2Capital, an AI-driven solution for tracking and managing carbon emissions; Jadwelny, a personalised travel planning platform using artificial intelligence; and Watermelon LTD, a platform connecting manufacturers, farmers, and F&B outlets within the food ecosystem. This edition of the programme will feature several updates. Participants will engage in more targeted meetings with Emirates NBD stakeholders relevant to their industries, as well as extended mentorship through partner-led Immersion Days and the bank's Decision Makers Series. Founders will also receive support on pitching to venture capitalists and will have the chance to network with industry professionals and subject matter experts. An international trip to London is scheduled for June 2025, giving participants the opportunity to engage with the UK's fintech sector and explore global expansion strategies. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: 'By providing these talented entrepreneurs with access to the mentorship, networking, and investment, we are helping them build innovative solutions that will positively impact the industry and economy.' 'By collaborating with Emirates NBD and other leading partners, we are creating a thriving ecosystem where Emirati entrepreneurs can access the tools, mentorship, and global exposure they need to lead the next wave of fintech innovation from Dubai to the world.'
Time of India
22-05-2025
- Business
- Time of India
Quicktouch gets RBI nod for Payment Aggregator license; full operations pending compliance
QuickPay, the fintech arm of Quicktouch Technologies, has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator (PA). The approval, granted under the Payment and Settlement Systems Act, 2007, allows the company to begin the next phase of regulatory compliance. This approval allows QuickPay to move closer to becoming fully operational under RBI supervision. However, the platform still needs to complete compliance requirements before it can begin full operations. 'This recognition from the RBI strengthens our resolve to build a world-class digital payments platform that supports India's vision of a vibrant, inclusive and digitally empowered economy,' said Gaurav Jindal, Managing Director of Quicktouch Technologies. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
