ECommlink Receives $10 Million In Additional Funding

Published October 01, 2009, 1:00 a.m. EDT

|

Updated October 01, 2009, 12:00 a.m. EDT

1 Min Read

IMGCAP(1)]

Processing Content

Prepaid card processor eCommLink Inc. on Monday announced that its investors have provided $10 million in additional funding to support the company's ongoing and international growth plans. Syntek Capital AG, a Germany-based investment holding company, is eCommLink's lead investor. "No longer a start-up, eCommLink now has the right people, technology and focus to capitalize on its position in the prepaid market both here and abroad," Ennio Ponzetto, eCommLink CEO, said in a statement. eCommLink did not respond to requests for comment. In November 2008, eCommLink announced an agreement with Monitise Americas LLC to offer mobile-banking services to prepaid cardholders, part of a strategy to make the processor more competitive globally (CardLine, 11/20/08).

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Originations

Largest lenders generate 20% of total mortgage volume

Refinances drove growth of last year's lending activity, with both the volume share and average loan size coming in noticeably higher, according to IEmergent.

By Spencer Lee
Technology Reporter

26m ago
Commercial banking

C&I loan growth is surging. Are private credit woes the driver?

The recent uptick in commercial-and-industrial lending is the result of disruption in the private credit sector, one economist argues. Bank analysts say the upheaval in private credit is one factor among many.

By Allissa Kline
Reporter

April 30
Cryptocurrency

Eric Trump drops crypto firm that stockpiled World Liberty coins

The president's son has seemingly cut ties with the digital asset fintech ALT5 Sigma, whose shares lost 90% of their value after purchasing the tokens.

By Melinda Huspen
Tech Reporter

April 30
Small business lending

CFPB finalizes a scaled-back small-business lending rule

The Consumer Financial Protection Bureau finalized a new version of a small-business lending rule that took 17 years to get over the finish line. Banks are still lobbying for the rule to be repealed.

By Kate Berry
Reporter

April 30
State of New York

Why bankers should read NY's Uphold settlement closely

New York extracted $5 million and a broker registration from Uphold over its promotion of CredEarn, a yield product whose issuer collapsed in 2020.

By Carter Pape
Technology Reporter

April 30
Housing markets

Rising rates pushed mortgage payments higher in March

Home affordability declined on a monthly basis across loan types and racial demographics, but improved from a year ago, the Mortgage Bankers Association said.

By Spencer Lee
Technology Reporter

April 30

Load More