Payments News

On The Web

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Providers

The Forbes Investigation: Inside the Secret Bank Behind the Fintech Boom

“Cross River is on a lending tear. It is underwriting loans at the rate of more than $1 billion a month—some $30 billion worth in just nine years. But unlike in banks of yesteryear, virtually all Cross River’s lending officers aren’t human beings. They are apps. Cross River’s loans originate mostly from 15 or so […]
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Providers

S.Korea Launches “Open Banking” Services to Lower Fee, Enhance Convenience – Xinhua | English.news.cn

“South Korea’s financial regulator said Wednesday that it formally launched “open banking” services in a bid to lower transaction fees and enhance convenience for using online banking services. Under the open banking system, bank customers will be allowed to use any mobile banking application they choose to approach their bank accounts at any local bank […]
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Providers

JPMorgan Boosts Annual Fee on Chase Sapphire Reserve Card

“The popular Chase Sapphire Reserve credit card is about to get more expensive.    JPMorgan Chase & Co. is boosting the annual fee for customers to $550 from $450 as it adds new perks with partners such as DoorDash and Lyft Inc., according to bank spokeswoman Ashley Dodd. For new cardholders, the increased annual fee will go into effect […]
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Deals

F5 Networks Will Acquire Shape Security for $1 Billion to Bolster Online Fraud Protection Services

“F5 Networks will pay approximately $1 billion to acquire Shape Security , a Santa Clara, Calif.-based company that sells a fraud prevention platform to banks, airlines, retailers, government agencies, and more. The acquisition, announced Thursday, will help F5 bolster its application protection services. It’s the largest acquisition to date for Seattle-based F5, which paid $670 […]
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Providers

Razer Fintech Plans to Build ‘world’s First Global Youth Bank’ Targeting Youth and Millennials

“Singaporean entrepreneur Min-Liang Tan’s Razer Fintech – the fintech arm of gaming hardware maker Razer – has applied for a Digital Full Bank Licence in Singapore, with a focus on the underserved youth and millennials segment, the company announced on Thursday (Jan 2). If successful, the firm will build what it calls the “world’s first […]
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On The Wires

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Providers

Worldpay From FIS Opens New Doors for JCB Card Acceptance in Japan

“FIS ™ today announced an agreement with JCB, the leading issuer and acquirer in Japan and a global payment network. Worldpay, FIS’ global eCommerce platform, will allow businesses operating in Japan to accept payments by JCB cards. With this agreement, Worldpay now provides a comprehensive eCommerce solution for enterprise merchants operating in Japan. Worldpay merchants […]
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