On The Web

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Deals

SoFi to Acquire Payment Software Company Galileo for $1.2 Billion

April 7 2020

• in
• Card issuing
• Fintech
• Lenders

“Personal finance start-up SoFi has agreed to buy payments software company Galileo for $1.2 billion. The cash-and-stock deal will help the companies launch new products, expand internationally and capitalize on consumers’ shift to digital finance, according to the CEOs of both companies.”

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Providers

New Tech Startups Want to Remake the Corporate Card

March 4 2020

• in
• Card issuing

“For decades, corporate credit cards were a boring industry, dominated by money-colored AmExes, the default choice for power lunches and client dinners around the world.    Now, a fleet of richly funded startups wants to change that. Venture capitalists and other investors have poured big money into a growing group of companies that make credit […]

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Providers

As Recession Looms, Brex Stockpiles Cash, Cuts Credit

May 11 2020

• in
• Card issuing
• Fintech

“Today co-founders Henrique Dubugras and Pedro Franceschi are bracing for a harsher reality. Reeling from the coronavirus shutdowns, Brex customers including Airbnb, Outdoor Voices and ClassPass are slashing costs and cutting thousands of jobs. A replay of the 2001 dot-com crash, which wiped out a generation of promising upstarts, could be Brex’s death knell.”

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Domains

Shopify announces a new merchant debit card and support for payment installment plans

May 20 2020

• in
• Buy Now Pay Later
• Card issuing
• Remote Commerce

“Shopify is announcing several new products and features today at Reunite , a virtual conference for the one million merchants using the company’s e-commerce platform. Shopify Balance is a merchant account with no fees and no minimum balances. The company is also announcing a Buy Now, Pay Later feature, allowing merchants to give their customers […]

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Companies

Stripe adds card issuing, localized card networks and expanded approvals tool

April 23 2020

• in
• Card issuing
• Stripe

“At a time when more transactions than ever are happening online, payments behemoth Stripe is announcing three new features to continue expanding its reach. The company today announced that it will now offer card issuing services directly to businesses to let them in turn make credit cards for customers tailored to specific purposes. Alongside that, […]

On The Wires

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Providers

Chase Partners With DoorDash to Deliver New Benefit for Freedom, Sapphire and Slate Cardmembers When Ordering In

January 8 2020

• in
• Card issuing

“Today Chase announced a new relationship with DoorDash, the nation’s leading on-demand food platform, to offer complimentary DashPass subscriptions for Sapphire, Freedom, and Slate cardmembers. Starting today, eligible cardmembers can activate and enjoy the convenience of DashPass, DoorDash’s subscription service that offers unlimited $0 delivery fees and reduced service fees on orders of $12 or […]

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Domains

Conferma Pay Launches Visa-Powered Virtual Card Payments Globally Via Mobile App

May 6 2020

• in
• B2B
• Card issuing

“Fintech leader Conferma Pay has teamed up with Visa to integrate Visa virtual cards in the Conferma Pay mobile app. This solution is now globally available to Visa’s commercial bank clients, allowing them to bring the Conferma Pay app to their corporate customers as part of Visa’s broader technology offering. Employees can now make virtual-card […]

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Providers

FIS Cuts the Wait for New Credit and Debit Cardholders to Access Accounts

May 11 2020

• in
• Card issuing
• Enterprise software
• Financial institutions

“Financial technology leader FIS ™ (NYSE: FIS) announced FIS Digital Issuance, a first-to-market solution that allows financial institutions to provide newly approved applicants with immediate mobile access to their credit and debit accounts. Avidia Bank is the first financial institution to begin offering the new FIS solution. Available to FIS credit or debit card processing […]

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Deals

Modern Card Issuing Leader Marqeta Valued at $4.3B in Latest Round

May 28 2020

• in
• Card issuing
• Fintech

“Marqeta, the global modern card issuing platform, announced today that it has raised an additional $150 million in new capital from a leading institutional investor, valuing the company at $4.3 billion. This latest financing comes on the heels of Marqeta’s previously announced $260 million equity financing in May 2019, which was led by Coatue and […]

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Providers

Galileo Financial Technologies Pioneers Expansion Into Mexico With Mastercard Certification and Major Strategic Partnership With Klar

April 30 2020

• in
• Card issuing
• Fintech

“Galileo, the trusted technology partner that powers world-leading fintech businesses, announced its Mastercard certification in Mexico and new partnership with a major fintech company in the Mexican market. These two events further strengthen Galileo’s expansion into the region. Galileo is the first API software innovator to secure Mastercard certification and to launch as part of Mastercard’s Fintech […]