Payments News

On The Web

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Providers

PayPal to Launch Venmo Credit Card in Partnership With Synchrony

“The market for credit cards is crowded, but PayPal PYPL, +0.57% and Synchrony expect that consumers will see value and differentiation in their offering due to a focus on the back-end user interface. Venmo cardholders will be able to deal with all aspects of their cards from within the Venmo app, providing a “native in-app experience” […]
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Deals

Snapdocs Raises $25 Million to Streamline Mortgages With AI

“In a nutshell, Snapdoc’s toolset aims to cut down on manual mortgage processes by digitizing wherever possible. It automates scheduling for signings and manages payments to the tune of over $4 million per month, all while centralizing key information like order history, signer, and notary documents in a single portal. Signing agents can create white-labeled […]
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Providers

Next in Google’s Quest for Consumer Dominance—Banking

“The project, code-named Cache, is expected to launch next year with accounts run by Citigroup Inc. C -0.87% and a credit union at Stanford University, a tiny lender in Google’s backyard. Big tech companies see financial services as a way to get closer to users and glean valuable data. Apple Inc. introduced a credit card this summer. […]
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Providers

CIT Expands Direct Bank Offering With Launch of EChecking

“CIT’s national direct bank, CIT Bank , today announced the launch of eChecking , a new digital checking account featuring no monthly fee, up to .25% APY and an ATM Fee reimbursement of up to $15 a month. To enhance the banking experience, the new account also features a wide variety of electronic transfer and payment solutions, […]
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Providers

EU Banks Plot Pan-European Rival to Visa and Mastercard

“A group of 20 European banks are working together on “setting up a pan-European payment system to challenge the dominance of Visa, Mastercard and technology companies such as Google and PayPal,” French news agency AFP reports . “The Pan European Payment System Initiative (PEPSI) would handle all forms of cashless transactions,” AFP was told.”
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Companies

Square’s Cleanup Still Leaves Questions

“Fast transaction growth isn’t everything to Square, which is generating increasing revenue from lending, subscription services and its consumer Cash App. But like many payments businesses, the company’s take rate, or how much of each transaction it takes as revenue, is gently declining, due in part to doing business with larger merchants that drive tougher […]

On The Wires

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