Payments News

On The Web

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Providers

Robinhood Plans to Let Customers Invest With As Little As $1

“Robinhood, the six-year-old Bay Area startup that pioneered zero-fee stock trading , announced today (Dec. 12) that it will soon allow customers to buy and sell tiny increments of equity —so-called fractional shares—in their favorite companies. The feature is expected to begin with a limited rollout to US customers next week.”
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Providers

Revolut Supports Direct Debits in the UK

“Fintech startup Revolut is adding a key feature for users who want to replace their traditional bank account altogether. You can now pay with GBP direct debits. Revolut already added EUR direct debits last year . While most people use cards to pay for goods and services in the U.K., some businesses require you to […]
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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

Fintechs Are Struggling With Consumer Adoption in the UK

“Just 2% and 3% of UK consumers surveyed by YouGov use budgeting apps and investment apps, respectively, to manage their money. Additionally, only 8% of consumers said they use digital-only banks to do so, which indicates that low adoption is an issue across the fintech space.  Although consumers aren’t adopting fintech services, interest in online […]
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Providers

Islamic Fintechs Are on the Rise — but Will They Survive?

“Fintech is a crowded space. But a new subgenre is emerging to attract the world’s 1.8bn Muslims with a Shariah-compliant alternative. Young Muslims want in on Europe’s fintech scene. Their pitch is that Muslims, who make up 20% of the world’s population, have been underserved not only by traditional banks, but also by modern fintechs. Shariah law forbids Muslims […]
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Deals

Bux acquires ‘social’ cryptocurrency investment platform Blockport

“Bux , the Amsterdam-based fintech that wants to make investing more accessible, has acquired the European “social” cryptocurrency investment platform Blockport. Terms of the deal remain undisclosed, although Bux says the move paves the way for the company to launch its own branded cryptocurrency investment app. Dubbed “ BUX Crypto,” it will be available in […]
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Opinion

Every Company Will Be a Fintech Company

“In the not-too-distant future, I believe nearly every company will derive a significant portion of its revenue from financial services. In this post, I’ll delve into the infrastructure that’s enabling this transformation and, more importantly, how that’s going to fundamentally change banking as we know it. Every company, even those that have nothing to do […]

On The Wires

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