Inside Marqeta, the payments engine behind the challenger banks
Card issuing and processing startup Marqeta may not have picked the sexiest part of the payments ecosystem to disrupt, but it’s looking to catch the same wave as challenger banks and fintech lenders...
View ArticleWeekly Wrap: Payments industry under scrutiny as Venmo, Zelle adoption grows
Welcome to the latest episode of our weekly wrap video series, for the week ending July 26, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news...
View ArticleGlint Pay launches gold-backed debit card in the U.S.
Glint Pay launched its gold trading and payment platform in the U.S. this week, part of the startup’s international expansion plans rolling out this year. Glint, based in London, offers users two...
View ArticleLooking to beat Apple to the punch, digital competitors roll out cashback cards
The jury is still out whether the Apple Card will be the disruptive force that Apple has claimed it will be. Fintech firms and banks, in the meantime, appear eager to roll out some cash back card...
View ArticleFintech venture firm Nyca raises $210m for third fund
Nyca Partners has closed on $210 million for its third investment fund, a vehicle that will let it continue to support the growth of fintech innovation, David Sica, partner at the New York- and San...
View ArticleAs payments giants combine, Square narrows its focus
Mega-mergers in the payments sector appear to be leading Square to narrow its business focus and boost investment in its seller and Cash App ecosystems. To help fuel its investments, the payments...
View ArticleMastercard buys Nets unit for $3.19b in largest deal
Mastercard Inc. agreed to buy a payments platform owned by Denmark-based Nets for 2.85 billion euros ($3.19 billion), using its biggest-ever acquisition to help extend a push into faster payments. With...
View ArticleWith Softbank investment, working-capital marketplace C2FO closes $200m round...
The business-to-business credit market just got a big boost from Softbank’s Vision Fund. C2FO, a nine-year old working capital digital marketplace, on Wednesday raised $200 million in a Series G...
View ArticleWeekly Wrap: Apple channels fintechs with card launch
Welcome to the latest episode of our weekly wrap video series, for the week ending August 9, 2019. In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, speaks with Alyson Clarke,...
View ArticleWhy 6 credit unions are partnering to access better payment solutions
As credit unions look to improve their technology on smaller budgets, one solution is to band together and pool assets. On Thursday, six credit unions did exactly that to improve their online payment...
View ArticleVerrency, Coinify team up to enable crypto payments through banks
Payments provider Verrency and virtual currency platform Coinify are partnering to enable customers to carry out digital currency payments through their banks, Verrency CEO David Link told Bank...
View ArticleHow Amex is using Resy’s platform to tailor offerings to customers
Fresh off the acquisition of restaurant reservation service Resy, American Express is using the platform to build customer loyalty and potentially offer customers more products. American Express is...
View ArticleEuropean fintechs escape troubles afflicting established banks
When Swedish banking firm Klarna became Europe’s most valuable financial technology startup last week, it was only the latest sign that digital finance has escaped the troubles afflicting legacy...
View ArticleGerman payments giant Wirecard targets US with new app
Wirecard, a Germany-based payments firm that works with brands and retailers, recently launched its first U.S. mobile application in an effort to expand its reach across the Atlantic. The 20-year-old...
View ArticleWestern Union is mapping customer journeys to reduce abandoned transactions
As digital money transfer companies like TransferWise and Remitly encroach on Western Union’s business, the 168-year-old company is tracking online customer journeys to figure out why some of them...
View ArticleCuentas wants to turn convenience stores into financial centers
Cuentas, a Miami-based prepaid debit card company targeting Spanish-speaking populations, wants to turn convenience stores into financial hubs through Cuentas-branded debit cards and accounts. The...
View ArticleChase to discontinue standalone Pay app, embed with merchants
Chase Pay, a standalone QR code-based payment app that connects to users’ card credentials, will be retired as of early next year, Eric Connolly, head of Chase Pay, said Wednesday in a statement....
View Article‘Catalyst’ for mass adoption: Contactless payments launch on Miami transit
Miami-Dade County Metrorail commuter transit riders will be able to wave their contactless cards or mobile payment wallets starting today, eliminating the requirement to use proprietary fare cards....
View ArticleWirecard’s cashier-free checkout to help retailers stand up to Amazon
The growth of Amazon Go cashierless stores is causing a ripple effect among retailers. It’s what’s been inspiring big-box retailers — among them, Walmart, Sam’s Club, Giant Eagle and others — to...
View ArticleBofA sees encouraging results among small businesses using Zelle
Bank of America is seeing encouraging early uptake of business-to-business payments through Zelle, with 180,000 small businesses having sent money through the service since it launched in June. Rob...
View Article