Payments News

On The Web

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Xiaomi Launches App to Offer Credit to Millennials in India

“Xiaomi, the top smartphone vendor in India , today joined a growing wave of fintech startups in the nation that are offering credit to aspirational young professionals and millennials. The Chinese electronics giant said today it is launching Mi Credit, its curated marketplace for digital lending, which offers users credit between Rs 5,000 ($70) and […]
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The Fed Plans To Raise Payment-Services Fees by an Average of 2.4% in 2020

“Prices for Federal Reserve payment services to depository financial institutions will go up by an average of 2.4% on Jan. 2 under a new fee schedule approved last week by the Federal Reserve Board of Governors. The Fed estimates Check Services customers will see average price increases of 3.3%. Users of the Fedwire Funds Service […]
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Tink Expands Open Banking in Spain, Portugal and Italy

“Tink, a Stockholm-based open banking platform, said it has expanded its European presence with entries into Portugal and Italy as well as opening a new office in Madrid, Spain. Tink officials said the Portugal launch follows a September agreement with Caixa Geral de Depositos, which launched a consumer banking app called Dabox, which includes aggregation, […]
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Retailers Don’t Like Paying the Fees for Your Apple Card

“That’s because the card, marketed by Apple and backed by Goldman Sachs Group Inc. , is designated “elite,” which allows it to levy significantly higher interchange fees on each swipe or tap. Those fees aren’t paid by the consumer but by the merchant as part of the cost of accepting credit cards. A grocer can […]
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Robinhood Plans to Let Customers Invest With As Little As $1

“Robinhood, the six-year-old Bay Area startup that pioneered zero-fee stock trading , announced today (Dec. 12) that it will soon allow customers to buy and sell tiny increments of equity —so-called fractional shares—in their favorite companies. The feature is expected to begin with a limited rollout to US customers next week.”

On The Wires

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N26 Unveils Its US Debit Card Benefits Perks Program With New Partners Lime, Booking.com, and Headspace

“N26 Inc. , the US subsidiary of N26 GmbH, parent company of one of Europe’s fastest growing mobile banks, today announced an expansion of its Perks program, which offers customers exclusive cashback rewards and discounts when using their N26 debit card. The partners include some of the most popular global brands in travel, mobility, wellness, education, and […]