Payments News

On The Web

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Providers

Penta, The Bank Account For SMEs, Adds Multi-Card Support To Manage Expenses

“Dubbed ‘Team Access,’ the new feature — which affords similar functionality to the likes of Pleo, Spendesk, and Soldo — lets business owners issue multiple MasterCards to employees who need to make purchases on a company’s behalf. Each card is linked to a business’ Penta  account but can have custom rules and permissions per card/employee, in terms of how much money […]
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Domains

Plum, The Fintech Chatbot That Helps You Save, Adds Theme-Based Investing

“Plum, the fintech startup co-founded by early TransferWise employee Victor Trokoudes, is continuing its mission to help you manage your finances and save money. The AI-powered Messenger chatbot already offers savings functionality, including round-ups and regular savings, and today is launching an investment tool that lets you choose fund investments based on themes, such as ethical […]
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Domains

SoFi Rolls Out Mobile Checking Account Aimed At Millennials

“The checking account, which is in beta, is called SoFi Money. It marks an important step for the company that started out as a digital lender seven years ago, then branched out to wealth management, personal loans and mortgages. SoFi is aiming at digitally native millennials; owning deposit relationships keeps customers within SoFi’s ecosystem and lets it cross sell […]
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Providers

N26 Updates Its Web App

“Fintech startup N26 wants to compete with traditional banks on all fronts. And it means providing a useful web interface to view your past transactions, transfer money and more. Most users likely interact with N26  through the mobile app. But it doesn’t mean web apps are useless. Contrary to Revolut, N26 has had a web interface since day one. […]
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Global

India’s Payments Banks Trip On E-KYC Rules

“The Reserve Bank of India has barred at least two payments banks from accepting new customers. The reason, say officials in the know, is the lack of strict compliance with a couple of banking provisions – including not just banking-related Know Your Customer norms but also provisions under the Prevention of Money Laundering Act. Fino […]
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Providers

Online Lenders And Payment Companies Get A Way To Act More Like Banks

“Online lenders and other so-called fintech firms — including the payment processor Square, the online lender Lending Club and the cryptocurrency exchange Coinbase — have pressed for regulatory routes that would let them cut through the thicket of state and federal laws that govern financial businesses. Heeding those requests, the Treasury Department released a 222-page report laying […]
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Providers

Starling Faces Payment And App Issues, Again

“This is not the first time that Starling experienced similar issues. Just under a month ago, we reported on declined payments for users, which it was understood to be caused by the company it outsources processing to. This company is Global Processing Services (GPS), which provides similar services to many fintech players and challenger banks, including Fire, […]
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Providers

Starling Bank Unveils Banking-as-a-Platform APIs

“These businesses can pick and choose individual components and features, as they use Starling’s banking licence – which means they do not need to be regulated themselves. Raisin UK is Starling’s first business client for this offer, an online savings marketplace that allows customers to pick savings deals on the market to meet their individual […]

On The Wires

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Providers

Small Businesses Access More Than $1 Billion Of Working Capital During Non-Banking Hours Through Kabbage

“Kabbage, Inc., a global financial services, technology and data platform serving small businesses, reports its 145,000-plus small business customers accessed over 300,000 loans during non-banking hours, reaching a record total of more than $1 billion in funding. In total, Kabbage has now provided access to more than $5 billion in funding to its customers across […]