Payments News

On The Web

nbsp;

Providers

Machine Learning and Data Are Powering Monzo’s Fintech Disruption

“App-only fintech startup Monzo is scaling up its machine learning capabilities and plugging employees into the rich stream of data generated by 1.7m global users as it forges ahead of the high-street banks in the digital space. Neal Lathia, data scientist and machine learning lead at the UK-based bank, told The Drum how his team […]
nbsp;

Providers

Credit-Card Issuers Boost Spending on Social-Media Ads

“Credit-card pitches are moving from the mailbox to the social-media feed. Several big card issuers recently increased spending on Facebook ads in an effort to attract new borrowers. Capital One Financial Corp. and American Express Co.  spent an estimated $18.6 million and $13.5 million, respectively, on Facebook ads meant to sign up new consumer-credit-card holders in […]
nbsp; nbsp;

Providers

Two New Next-gen Banks to Open in the US

“Two new banks are coming to the US: Piermont Bank in New York and Nexos National Bank, based in Stamford, Connecticut. “We appreciate, respect and honour family legacy” Piermont Bank is a “new generation” of commercial banking with a focus on helping clients build and grow business. The Piermont Bank’s team says that it aims […]
nbsp;

Deals

YouTrip, a Challenger Bank in Southeast Asia, Raises $25.5M for Expansion

“Singapore-based startup YouTrip thinks consumers of Southeast Asia deserve a taste of the challenger bank revolution happening in the U.S. and Europe, and it has raised $25.5 million in new funding to bring its app-and-debit-card service to more parts in the region. Challenger banks have sprung up in Europe in recent years. Unicorns Monzo, Revolut […]
nbsp;

Providers

Adobe Ties up With Amazon to Build D2C Stores Powered by Amazon’s Commerce and Fulfillment Tools

“Today, Adobe announced that it is working with Amazon on a new program called Branded Stores for Amazon Sellers, to create what they are describing as “branded storefronts” (not described specifically as websites) aimed at smaller merchants that have already been selling through Amazon (and possibly other marketplace platforms) to build their own first-party commerce experiences […]

On The Wires

nbsp;

Providers

Visa Opens Door to Digital-First Payment Experiences Through Visa Next

“Today, Visa introduced a new platform with a set of beta APIs, specifications and development tools for issuers and issuer processors to begin building and beta testing new payment products to help meet the future needs of digital-first consumers. The offering will be available to clients and partners via Visa Next , a new destination […]
nbsp;

Providers

T-Mobile MONEY Introduces No-Fee, Interest-Earning, Mobile-First Checking Account

“It’s a no-fee, interest-earning, mobile-first checking account that anyone can open and manage right from their smartphone. With T-Mobile MONEY, eligible Un-carrier customers can earn an industry-leading 4.00% Annual Percentage Yield (APY)* on balances up to $3,000 – 50 times higher than the average U.S. checking account1 – and 1.00 APY% on every dollar over that! […]
nbsp;

Providers

Mazooma Gateway to Provide Unified Platform for Suite of Premium Payment Products

“Leading U.S. payments provider Mazooma announces launch of their Mazooma Gateway, a platform that will provide access to its full suite of verified bank payments through a single API integration. Mazooma’s two premier payment methods–eCheck Select and OBT–will be available to igaming and sports betting operators in the U.S., and will be showcased at ICE North America in Boston this […]
nbsp;

Providers

Geoswift Secures Stored Value Facilities Licence in Hong Kong

“Geoswift, a leading provider of cross-border payment solutions between China and the rest of the world, announced today that its Hong Kong entity has been granted a coveted Stored Value Facilities (“SVF”) Licence by the Hong Kong Monetary Authority. With the SVF licence, Geoswift can provide greater convenience and a better experience for consumers and merchants and move closer […]