Jack Ma’s Ant set to raise $35 billion in biggest-ever IPO
Jack Ma’s Ant Group Co. is set to raise about $34.5 billion through initial public offerings in Shanghai and Hong Kong, a blockbuster listing that will rank as the biggest IPO ever and make it one of...
View ArticleBlueVine ramps up payment, connectivity with new features
Fintech lender BlueVine is enhancing the SMB banking experience, one that has traditionally lagged behind consumer and corporate sectors, by leaning into payments, third-party connectivity and the...
View ArticlePBOC governor says 4 million transactions so far in digital yuan
Yi Gang, governor of the People’s Bank of China, said a pilot program on the rollout of a digital currency in four cities has been smooth. There have been more than 4 million transactions, totaling...
View ArticleZelle overshadows Venmo with record payments volume
In the battle over U.S. mobile person-to-person payments, Zelle topped Venmo — at least last quarter. In the third quarter alone, Zelle processed $84 billion on 323 million transactions, the company...
View ArticleWhatsApp gets India permit to go live with payments service
India allowed Facebook Inc. to start operating its WhatsApp payments service in the world’s biggest open technology market. WhatsApp pay can go live using the homegrown, multibank Unified Payments...
View ArticleCiti strengthens push into Mexico with Arcus investment
Citibank is betting on new technology to penetrate the Mexican fintech market. The $2.2 trillion-asset bank this week invested an undisclosed sum in Arcus, a New York City-based payments and fintech...
View ArticleBAS 2020: Brex pushes beyond corporate cards
Brex is getting creative with its data. As the corporate card startup takes steps toward becoming a fuller service financial institution, it is rethinking how it ingests new types of data and applies...
View ArticleHow US Bank, Wells Fargo are digitizing back office B2B payments
U.S. Bank and Wells Fargo are advancing B2B payment solutions with the debut of two new automated products for back-office operations. Wells Fargo on Thursday released its WellsOne Virtual Card Payment...
View ArticleStripe to offer Citi, Goldman accounts through e-commerce giants
Stripe Inc. will team up with some of the world’s largest banks to offer checking accounts to businesses that sell their wares on e-commerce platforms such as Shopify Inc. Stripe said banks including...
View ArticleSquare has discussed acquiring Jay-Z’s Tidal service
Square Inc., the digital-payment company run by Jack Dorsey, has held talks to acquire the music-streaming service Tidal as part of a push to diversify, according to a person familiar with the...
View ArticleGood business: Eco-friendly credit cards on the horizon
The plastic credit card consumers keep in their wallets may soon change. With more consumers demanding eco-friendly business practices, issuing banks could benefit from using more sustainable card...
View ArticleTouchless payments are here to stay, Amex says
The rise in digital and contactless payments among consumers and merchants is likely to stick post-pandemic as preferences shift from cash to tap, according to fresh data from Amex. For both businesses...
View ArticleApple may face EU rules to open up payment technology
The European Union is weighing legislation that could force Apple Inc. to open iPhone payment technology to competitors. The potential rules would grant other payment services a right of access to...
View ArticleWeekly Wrap: The rise of contactless payments and Bank of America breaks...
Contactless payments are here to stay in the post-COVID world, according to recent data from Amex, but cash’s staying power may hinder banks from fully realizing the efficiencies of digitized payments....
View ArticleSmaller FIs fail to meet customer demand for Zelle
Credit unions and community banks have some catching up to do when it comes to meeting changing customer payment needs, according to new data from Aite Group published yesterday. Although 67% of...
View ArticleNexi said to eye Denmark’s Nets in new blockbuster payments play
Nexi SpA is already hunting for its next target after agreeing a milestone payments merger with Italian rival SIA SpA, as consolidation in the sector shows little sign of easing. Milan-based Nexi has...
View ArticleU.S. explores restrictions on Ant Group, Tencent payment systems
The Trump administration is exploring restrictions on billionaire Jack Ma’s Ant Group as well as Tencent Holdings Ltd. over concerns that their digital payment platforms threaten U.S. national...
View ArticleOther markets outpace the US in finance app installs
The U.S. is trailing other markets when it comes to finance app downloads, according to a new study from the mobile marketing platform Adjust and the mobile analytics platform Apptopia. “COVID-19 is...
View ArticleConsumers turn to big tech, neobanks for payments
The COVID-19 pandemic is changing how consumers make payments, according to consulting firm Capgemini’s World Payments Report 2020. Since April, over 38% of consumers found a new payments provider...
View ArticleBofA Zelle numbers jump $7 billion quarter over quarter
Bank of America customers sent $39 billion through Zelle during the third quarter, up from $32 billion last quarter. “This digital enablement is a trifecta of better customer engagement and client...
View Article