Payments News

On The Web

nbsp;

Providers

Payments, Lending and Neobanks Rule Fintechs in Emerging Markets, Report Says

“Tech investments in emerging markets have been in full swing over the past couple of years and their ecosystems have thrived as a result. Some of these markets like Africa, Latin America, and India, have comprehensive reports by publications and firms on trends and investments in their individual regions. But there’s hardly a report to compare […]
nbsp;

Providers

JPMorgan Chase CEO Jamie Dimon: Fintech Is an ‘Enormous Competitive’ Threat to Banks

“Jamie Dimon, JPMorgan Chase chairman and CEO, listed fintech as one of the “enormous competitive threats” to banks in his annual shareholder letter released Wednesday. “Banks … are facing extensive competition from Silicon Valley, both in the form of fintechs and Big Tech companies,” like Amazon, Apple, Facebook, Google and Walmart, Dimon wrote, and “that […]
nbsp;

Providers

The Start-Up Enemies of Wall Street Are Booming

“Just as cheap cloud computing and smartphones once enabled a wave of new app start-ups, the financial technology sector has developed its own set of building blocks, allowing new companies to spring up faster. One of the building-block companies is Stripe . Founded in 2010, Stripe started out by offering to process payments for small […]
nbsp;

Providers

How a Fintech Exec Who Focuses on Poverty Relief Spends Sundays

“Wemimo Abbey, a financial technology entrepreneur, knows firsthand how hard it is for immigrants to start new lives in new countries with no resources. When his family moved to Minneapolis from Nigeria in 2009, his mother had no choice but to accept a loan with a 400-percent-plus interest rate so she could get the family […]
nbsp;

On The Wires

nbsp;

Global

Galileo Financial Technologies Accelerates Expansion and Opens Latin America Headquarters and Innovation Center in México

“Galileo, the API standard for card issuing and digital banking and a leading technology platform subsidiary of Social Finance, Inc. (SoFi), today announced the opening of a Latin America headquarters and innovation center in the iconic Torre Reforma building in Mexico City. The move follows the incorporation of Galileo’s Mexican subsidiary and the initial opening of its first […]
nbsp;

Providers

SoFi Launches Innovative Credit Card to Promote Saving, Investing, and Paying Down Debt

“SoFi, the digital personal finance company, announced today the broad launch of its first-ever credit card, designed to incentivize healthy financial habits and further its mission to help people get their money right. The SoFi Credit Card’s innovative rewards structure helps consumers reach their financial goals, such as saving and investing, and directly addresses the […]
nbsp;

Providers

Brex Files Application for Industrial Bank Charter | Press | Brex

“Brex, the company reimagining financial systems so growing businesses can realize their full potential, announced today that it has submitted an application with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI) to establish Brex Bank, an industrial bank to be located in Draper, Utah. The proposed Brex Bank will […]
nbsp;

Providers

Wealthfront Speeds Up Money Movement From the Wealthfront Cash Account

“Today, Wealthfront announced that clients who use their Wealthfront Cash Account to invest in a Wealthfront Investment Account can have their money invested in the market within minutes. Wealthfront clients who direct deposit their paycheck into the Wealthfront Cash Account can already get paid up to two days early, and today’s announcement is the next […]
nbsp;

Deals

MoneyLion, America’s Leading Digital Financial Platform, to Become Publicly Traded Via Merger With Fusion Acquisition Corp. (NYSE: FUSE)

“MoneyLion Inc. (“MoneyLion”), America’s leading digital financial platform, and Fusion Acquisition Corp. (NYSE: FUSE) (“Fusion”) have entered into a definitive agreement which would result in MoneyLion becoming a publicly listed company.  MoneyLion uses the power of technology to empower hard-working Americans to take control of their finances and achieve their life goals.”