PayPal to acquire online coupon site Honey for $4 Billion
PayPal Holdings Inc. will acquire Honey Science Corp. for about $4 billion, its largest-ever acquisition, adding a startup that amasses valuable data on consumer buying habits and doles out coupons for...
View ArticleWith Honey, PayPal focuses on the path to purchase
On Wednesday, PayPal agreed to acquire digital coupon platform Honey for $4 billion. Despite the hefty price tag, Honey offers PayPal data on customer intent, deepening the company’s foray into...
View ArticleWeekly Wrap: Real-time payments expand, as big tech adds financial offerings
Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, November 22, 2019. In this episode, Suman Bhattacharyya, deputy editor, and Angely Mercado, associate editor,...
View ArticlePlaid expands to France, Ireland and Spain
This week, data aggregator Plaid confirmed its expansion to France, Ireland and Spain. Plaid will work with more than 80% of the consumer accounts in each country, a major step for the San...
View ArticleStash doles out 5 million ‘Stock-Back’ rewards
As cash back rewards become expected offerings among banks and financial platform companies, Stash is offering customers fractional shares of stocks as purchase rewards when they use the Stash debit...
View ArticlePaytm raises $1 billion at $16 billion valuation
India’s digital payments pioneer Paytm announced new funding from existing shareholders like SoftBank Group Corp.’s Vision Fund and new investors, as competition in the country’s finance sector heats...
View ArticleMoneyLion bets it can scale for ‘exponential growth’
MoneyLion is looking to go big. As part of that effort, the personal finance, banking and investment platform has named Samantha Roady chief operating officer as it makes moves to expand its customer...
View ArticleFintech task force deliberates pros and cons of ‘big data’
More than 2.5 quintillion bytes of data are created every single day. As such, lenders are collecting vast amounts of consumer information and calling it “big data,” a key product to generate insights,...
View ArticleAnt Financial to raise a $1 billion startup investment fund
Billionaire Jack Ma’s Ant Financial is planning to raise about $1 billion for a fund that will invest in startups from Southeast Asia to India and help strengthen its foothold in fast-growing mobile...
View ArticleJapan cashless incentives could be extended as part of stimulus
Japan’s measures for encouraging the spread of cashless payments will likely need more funding beyond the end of March and could be extended as part of a planned government stimulus package. The...
View ArticleWeekly Wrap: MoneyLion prepares for growth, as fintechs focus on holiday...
Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, November 29, 2019. In this episode, Suman Bhattacharyya, deputy editor, and Angely Mercado, associate editor,...
View ArticlePayment apps are struggling to retain users, data shows
When it comes to keeping users engaged, payments apps seem to be missing the mark. According to a report from mobile analytics platform App Annie and the mobile marketing platform Adjust, only 6% of...
View ArticleTwo years after Chase acquisition, WePay retains its autonomy
Incumbent banks conjure up images of cultural uniformity with their large, bureaucratic structures, but WePay, a Silicon Valley payments startup that JPMorgan Chase acquired in 2017 for $400 million,...
View ArticleCalifornia’s fintech startups are invading New York
When two Irish brothers started Stripe Inc. together in 2010, there was little question about where they should put their headquarters. It had to be California. Now, though, Stripe is leaving the tech...
View ArticleCiti taps HighRadius for cheaper cross-border payments
Citibank is speeding up cross-border payments for international business clients by eliminating the need for businesses to convert bill amounts to the currency of the recipient. Through a new tool...
View ArticleOnline glitch at Indian bank HDFC hits business for third day
A prolonged glitch at HDFC Bank Ltd., an Indian lender well known for its digital services, could erode trust and hurt business as clients struggle to perform basic transactions. An unknown number of...
View ArticleCanadian neobank Koho to launch credit and savings products in 2020
Koho, a Toronto-based digital banking startup, is on track to expand its product suite to include credit and savings products in 2020, CEO Daniel Eberhard told Bank Innovation on Wednesday. The company...
View ArticleBIS wants central banks at center of digital cash revolution
Central banks must embrace the revolution under way in digital money to ensure they remain at the heart of the global payments system, according to the head of the Bank of International Settlements....
View ArticlePlaid, Kabbage: Clearing House Model Agreement creates ‘uneven playing field’
The Clearing House (TCH) showed encouraging progress for the digital financial ecosystem last month when they proposed their model financial data sharing agreement. Kabbage and Plaid support simple and...
View ArticleWith podcasts and billboard ads, Brex focuses on brand building
Corporate card and financial product startup Brex is best known as an enabling platform for businesses, with a focus on startups. The three-year-old company, which is reportedly valued at $2.6 billion,...
View Article