Payments News

On The Web

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Providers

Robinhood Plans Spending Account Service Alongside New Cash Card

“Robinhood Markets Inc. plans to launch a spending account feature alongside a new cash card with rewards, its latest push to grow beyond its core brokerage business…The spending account will be operated under a subsidiary. An accompanying upcoming Robinhood Cash Card will allow spending with cashback and offer the ability to automatically invest spare change […]
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Providers

Fintech Companies, Facing Competition From Mainstream Banks, Step Up Their Offerings

“So how are fintechs that offer banking services staying relevant? How are they competing with traditional banks that have a longstanding customer base and deeper pockets? Fintechs, taking advantage of their technological prowess and lower costs, are offering more features that banks generally don’t, such as analysis of customers’ spending and saving patterns, credit-builder products […]
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Providers

The Future Of Payments: Fintech 50 2021

“Before Covid, payments companies were some of fintech’s fastest-growing. As the pandemic caused online transactions to spike, these startups went on an unprecedented tear. Stripe and Plaid nearly tripled their valuations in a year, reaching $95 and $13.4 billion, respectively. Marqeta is preparing to go public at a valuation rumored to be north of $10 […]
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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 […]
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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 […]
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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 […]

On The Wires

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Providers

Launching the First-Ever Point-to-Point Debit Transfer Product

“Astra, Inc. (“Astra”), the automation platform for money movement, today announced the launch of its first-ever card-to-card instant payment API. Through a strategic partnership with Cross River Bank (“Cross River”), a technology-driven financial services organization that provides core infrastructure and embedded financial solutions, Astra is providing the critical infrastructure that will, for the first time, […]
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Providers

Cross River Partners With Payment Approved to Evolve the Movement of Money Through a Compliant, All-In-One Solution for Businesses

“Cross River Bank (“Cross River”), a technology-driven financial services organization that provides core infrastructure and embedded financial solutions, today announced that it has partnered with Payment Approved, a fintech that offers an easy access to end-to-end payment solutions for clients in the Money Service Business (“MSB”) sector, e-commerce businesses, and retailers, to provide businesses with […]
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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 […]