Coinbase Wins Feud as Visa, Worldpay Apologize for Card Issues
EXCLUSIVE—Cryptocurrency exchange Coinbase and payments processor Visa have concluded their feud over card charges on the exchange, with Coinbase emerging as the seeming victor as Visa issued a joint...
View ArticleHow VC Firm Magma Partners is Tapping Into the Untapped Chilean Fintech Market
EXCLUSIVE — With government-backed initiatives and a finite business of copper export, Nathan Lustig, co-founder and managing partner at Magma Partners, saw huge potential in the Chilean fintech...
View ArticleUK Challenger Bank Tandem Issues First Product: A CashBack Card With No Fees
Tandem, a challenger bank based in the United Kingdom, has officially launched its first consumer product: a credit card that offers cashback on purchases, and does not charge exchange fees when users...
View ArticleCash is Vanishing so Fast Sweden is Worried
Cash is disappearing so quickly in Sweden that government officials are now worried about the effect its cashless society could have on the banking infrastructure. This is according to a report on...
View ArticleGoogle Pay for Android Goes Live Today [Video]
Google has been on a mission to bring all its payment tools under the Google Pay brand, and today that includes Android Pay. Google said today that it has launched Google Pay for Android. According to...
View ArticleWith Realtime Payments Comes Realtime Fraud — and Banks Need to Prepare
EXCLUSIVE—As banks begin to implement faster payment networks, they have to be ready to react to new cases of fraud in higher numbers, Genevieve Gimbert, head of fraud management consulting for...
View ArticleFintech for Kids: Greenlight Raises $16 Million in Series A Funding
EXCLUSIVE – Greenlight Financial Technology, a fintech startup for kids, has raised $16 million in a Series A funding round today, Bank Innovation has learned. Greenlight Technology is a combination of...
View ArticleAmex Looking to Woo Customers with Fee-Free Card
EXCLUSIVE— While millennials may not be quite as credit-shy as they used to be, gaining new credit users is still an upward battle for most of the major card issuers. Like many of these issuers,...
View ArticleGreen Dot’s ‘Finest Year’ Built on Digital Products
EXCLUSIVE – Green Dot had its “finest year in [its] history” in 2017, CEO Steve Streit said on yesterday’s 4Q earnings call. The Pasadena, Calif.-based company, which operates a growing suite of...
View Article‘Bitcoin Queen’ Margaux Avedisian Joins Bank Innovation 2018
EXCLUSIVE- If 2016 was the year of blockchain in financial services, the boom in cryptocurrency values in 2017 brought the banks’ attention back to the world of tokens and coins. Margaux Avedisian,...
View ArticleMastercard Wants to Innovate Payments (and Energy) With Solar
EXCLUSIVE—Mastercard plans to use its digital payments technology, combined with solar technology, to bring energy to those in rural areas that do not have access to traditional means of powering their...
View ArticlePalmprint-Authentication Planned for Wells Fargo ATMs
EXCLUSIVE – Wells Fargo wants to enable biometric authentication at its ATMs, Bank Innovation has learned. “Palm prints are more accurate than fingerprints,” Ryan Miller, senior vice president, design...
View ArticleACH Is a Sieve of Fraud That Needs to Be Fixed
EXCLUSIVE – This month, my company, Royal Media, was robbed. This was a civilized heist, mind you. No guns were involved, no one got hurt — in fact, not a sound was even heard. It was a faceless theft,...
View ArticleU.K.’s Virgin Money to Launch Digital Challenger Bank
Make way for a new digital challenger bank. U.K.-based lender Virgin Money said it will offer current accounts and savings products. In its earnings call today, Virgin Money said it will begin testing...
View ArticleCircle Returns to the Center of the Crypto World with Poloniex Purchase
A few years back Circle was the darling of the crypto world, with its clean interface and smooth, un-Coinbase-like onboarding process. Then, in late 2016, the Goldman Sachs-funded Circle announced it...
View ArticleMastercard’s First Foray in the Canadian Insurance Payments Space
EXCLUSIVE – Mastercard has teamed up with cloud-based payment processor Dream Payments to provide Canadian insurance group FairFax Financial digital disbursements capabilities. The offering is a first...
View ArticleFTC Settles with PayPal Over Venmo’s Security Claims
Payments company PayPal has reached a settlement with the Federal Trade Commission (FTC) on claims that its social payments platform Venmo failed to disclose information to costumers on security and...
View ArticleMastercard to Bring QR Codes on FB Messenger for Nigerian Businesses
Payments provider Mastercard will launch a Masterpass QR ‘bot on Facebook Messenger, to allow small businesses to accept QR-based payments, the company announced today. The company will pilot the ‘bot...
View ArticleWith 7M Customers (And Bitcoin Support) Is Square Cash App a Real Venmo...
EXCLUSIVE–Is Square quietly building the P2P app that will take Venmo’s crown? With seven million active monthly users in December 2017, according to its fourth quarter earnings yesterday, the...
View Article10 Most Innovative CEOs in Banking 2018
EXCLUSIVE – Everything in banking is changing: fintechs are solidifying their place in the financial ecosystem, as challenger banks, online lenders, and blockchain technology providers become essential...
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