Amazon launches secured card for underbanked customers
Amazon has added a secured credit card to its suite of financial services offerings today, the latest effort to entice underbanked and low-income customers to shop with the e-tailing giant. The credit...
View ArticlePoint-of-sale lender Sunbit raises $26m in second fundraise
Sunbit, a point-of-sale lender that focuses on critical emergency services like auto repairs and dental work, has raised $26 million in Series B funding, the company confirmed today. Sunbit will use...
View ArticleBento for Business adds ‘Zelle-like’ service for B2B payments
Bento for Business, a Chicago-based B2B payments firm, today unveiled Bento Pay, which it claims is a first-of-its-kind digital payment service for small and mid-sized businesses. The service will roll...
View ArticleSquare’s Cash app downloads exceed Venmo’s in May
The peer-to-peer payments race is now more than a duel between bank-backed Zelle and Paypal-owned Venmo. According to a report released Thursday from Nomura Instinet analyst Dan Dolev, Cash app...
View ArticleMerging ACH startups pitch cost, convenience to retailers
convAs retailers look to cut transactional costs, one startup is trying to solve that problem with direct payments from customers' bank accounts. PayWithMyBank is working with retailers to help them...
View ArticleFacebook could be for crypto what AOL was for internet adoption
Facebook Inc., a centralized corporate giant with a history of customer data use controversies, is an unlikely candidate for bringing cryptocurrencies to the masses. Yet many digital-assets enthusiasts...
View ArticleFacebook wants its cryptocurrency to one day rival the greenback
Facebook Inc. unveiled plans for a new cryptocurrency that the social-media giant hopes will one day trade on a global scale much like the U.S. dollar. Called Libra, the new currency will launch as...
View ArticleBrex launches corporate card for biotech, life sciences firms
San Francisco-based corporate card startup Brex today launched a corporate card specifically tailored to companies in the life sciences industry. The product offers instant online underwriting that...
View ArticleWhy eBay signed on to Facebook’s crypto venture
EBay today joined Uber, PayPal, Lyft and other tech heavyweights as an inaugural member of the Libra Association, the Switzerland-based organization that will oversee Facebook's cryptocurrency....
View ArticlePersonal finance app Tally raises $50m to grow its platform business
Tally, a consumer finance app that consolidates and pays down customers’ debts, raised $50 million this week to add new services. The Series C funding round, led by Andreessen Horowitz, will help the...
View ArticleCARD, a prepaid card startup, wants to build a banking platform off affinity...
Most banks approach personalization solely through the lens of digital experience. To CARD.com, however, personalization actually refers to the look and feel of its debit card. Card's website presents...
View ArticleMorningstar sees a risk to money transfer services from Facebook’s Libra
While Facebook‘s cryptocurrency Libra faces regulatory challenges, its potential to upend some legacy payment providers merits consideration, according to a recent report from Morningstar. “The most...
View ArticleRBC rolls out real-time wire payments tracking for businesses
The Royal Bank of Canada today launched a real-time wire payments tracking feature to instill more transparency around the status of payments. The bank is using SWIFT Global Payments Innovation (gpi)...
View ArticleIn the battle for top of wallet, Citi adds instant card rewards redemption
Citibank is hoping instant cash back rewards at checkout will encourage more card use and grow customer affinity with the brand. In July, the bank is enabling instant reward redemption capability at...
View ArticleWith debit card expansion, TransferWise moves closer to challenger bank
Money-transfer startup TransferWise is expanding the reach of its multi-currency debit card and, in doing so, wading into bank territory. The company's borderless account initially was made available...
View ArticleHow BofA solved the industry’s in-branch card issuance problem
For customers who lose their debit cards, a visit to a nearby branch is often the quickest way to resolve the situation. The challenge is banks are less likely to do this anymore (JPMorgan Chase, for...
View ArticleVirtual card startup Extend sees $400b hole in commercial market
Credit card distribution startup Extend sees a $400 billion market opportunity in eliminating out-of-pocket spending for business expenses through the instant issuance of virtual company credit cards....
View ArticleGoldman Sachs explores creating a digital coin like JPMorgan’s
David Solomon may take a leaf out of Jamie Dimon’s book by exploring a digital coin for payments. Goldman Sachs Group’s chief executive officer told France’s Les Echos newspaper that he’s “absolutely’’...
View ArticleSand Hill East’s Brown sees banks moving to open platforms
The product-centric bank of the past, concerned with keeping proprietary control over all its offerings, is ceding ground to the customer-centric bank of the future, according to Andy Brown, CEO of...
View ArticleCan the US can draw lessons from Czech contactless card adoption?
As contactless payments gain wide adoption in Europe, there are questions around how quickly the technology will scale to U.S markets. The Czech Republic, for example, has seen wide adoption based on...
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