October 27, 2022 @ 3:19 pm By Omar Faridi  |  

Center, a software company helping businesses gain visibility into and manage employee spending, announced it “has completed its series B funding round with an additional $15 million from existing investors.” On the heels of the investment round, Center also “appointed travel industry innovator and CLEAR… Read More

October 27, 2022 @ 12:52 pm By JD Alois  |  

After claiming it was a mistake, PayPal (NASDAQ:PYPL) has re-animated its $2500 penalty for each violation of its Acceptable Use Policy. Once again, Twitter users slammed the overreach of the financial services firm. PayPal added the $2500 fine for misinformation back to their terms, after… Read More

October 27, 2022 @ 12:28 pm By JD Alois  |  

A Zopa-led coalition of Fintechs has joined to “combat the UK cost-of-living crisis.” Announced today, ten new members have been added to The 2025 Fintech Pledge or Pledge2025.org. The pledge, launched in September 2022, aims to drive 10 million consumer actions by 2025 that build… Read More

October 27, 2022 @ 12:20 pm By JD Alois  |  

Fitch Ratings says Fintechs and other non-bank financial institutions (NBFIs) are being blocked from receiving bank charters by public officials, adding that these digital firms are at a competitive disadvantage because of this reality. Fitch notes that no industrial loan company (ILC) charters have been… Read More

October 27, 2022 @ 11:58 am By JD Alois  |  

Upgrade, an online lender, card provider, and neobank, has announced a high-yield savings account that currently generates 3.5% APY labeled “Premier Savings.” The savings account must hold a minimum balance of $1000 and is available in all 50 states While interest rates have risen dramatically,… Read More

October 27, 2022 @ 10:57 am By Omar Faridi  |  

Only a few weeks after finalizing the sale of its terminal business to Apollo Funds for €2.3 billion, Worldline [Euronext: WLN] has now moved to acquire a 55% stake in SoftPos.eu, a Warsaw-headquartered Fintech platform that reportedy converts Android devices into secure payment terminals. The… Read More

October 27, 2022 @ 9:36 am By JD Alois  |  

In a seismic shift of consolidation, StartEngine has announced the acquisition of SeedInvest. While exact terms were not immediately available, StartEngine stated that Circle (owner of SeedInvest) will become a minority shareholder of StartEngine. StartEngine is one of the largest investment crowdfunding platforms in the… Read More

October 27, 2022 @ 9:10 am By JD Alois  |  

-Retail Investors May Be Banned from Using Leverage in Crypto Trading -Banks Allowed to Issue Stablecoins The Monetary Authority of Singapore (MAS) has proposed new initiatives aimed at mitigating risk to consumers in regard to crypto trading. At the same time, MAS has proposed new… Read More

October 27, 2022 @ 8:53 am By JD Alois  |  

The British Business Bank has posted an updated list that includes new companies backed by the Future Fund, one of several schemes enacted to provide assistance to firms harmed by the COVID-19 health crisis. Created in 2014, The British Business Bank is the UK government’s… Read More

October 27, 2022 @ 8:35 am By Omar Faridi  |  

Tymit CEO, Martin Magnone, recently commented on the announcement of the Fintech firm’s series A funding round. Martin Magnone noted that when his brother, Nicolas Magnone Ballefin and he founded Tymit, they had “a simple vision in mind: [they] wanted to create a credit card… Read More

October 27, 2022 @ 8:33 am By Omar Faridi  |  

The team at Juni is pleased to share that they have secured their Electronic Money Institution (EMI) license from Swedish regulator Finansinspektionen. This is “a first step to enable [them] to issue e-money in Sweden and in time, across Europe.” According to the firm, this… Read More

October 27, 2022 @ 4:00 am By JD Alois  |  

Digital bank Starling Bank will be the official principal partner for Southampton FC Women for the 2022-2023 season. According to a note from the bank, starting Sunday, October 30th, Starling will sponsor the team with a match against Sunderland AFC Ladies. Starling’s logo will be… Read More

October 26, 2022 @ 11:32 pm By Omar Faridi  |  

YuLife, the tech-driven financial services brand on a mission to inspire life, announced that it is launching in the United States. Founded in London in 2016, YuLife claims it “achieved rapid traction in the UK insurance market through its flagship product, group life insurance.” The… Read More

October 26, 2022 @ 11:07 pm By Omar Faridi  |  

Refinitiv, an LSEG business, announced the launch of a secure, personalized, and seamless global digital onboarding solution to help firms enhance their approach to onboarding clients. The recent shift towards online commercial activity has led to an increase in digital and contactless payments, forcing companies… Read More

October 26, 2022 @ 10:34 pm By Omar Faridi  |  

Capco, a Wipro company and global technology and management consultancy, and Plaid, an industry leader powering the digital financial ecosystem, announced a new alliance. The alliance will “combine Plaid’s leading open finance solutions with Capco’s domain and data analytics expertise to help financial institutions unlock… Read More

October 26, 2022 @ 10:07 pm By Omar Faridi  |  

Jack Henry (Nasdaq: JKHY) announced the launch of its standalone person-to-person (P2P) payments solution. Powered by the Payrailz® Digital Payments Platform, which Jack Henry acquired September 1, 2022, the P2P solution is now “available for standalone implementation or as a strategic component of the full… Read More

October 26, 2022 @ 9:40 pm By Omar Faridi  |  

ConnexPay, which claims tobe the first and only payments technology company that integrates payments acceptance and issuance inside a single platform, announced a $110 million growth equity investment “led by FTV Capital, a sector-focused growth equity investor with more than two decades of experience in… Read More

October 26, 2022 @ 8:37 pm By Omar Faridi  |  

WireFX, a Minnesota based Fintech startup and Stearns Bank N.A., an independently-owned financial institution with locations in Minnesota, Florida and Arizona “announce their partnership to support fintech and payment companies with FDIC insured bank accounts.” WireFX will “utilize Stearns Bank’s sponsorship to offer domestic and… Read More

October 26, 2022 @ 8:02 pm By Omar Faridi  |  

Spring by Citi, Citi’s (NYSE: C) digital payments service enabling eCommerce and B2B funds flows launched in the U.S. in 2020, has now been fully “integrated with Citi Present and Pay, Citi’s electronic bill presentment platform.” The combined solution “offers comprehensive digital payment acceptance and… Read More

October 26, 2022 @ 6:15 pm By JD Alois  |  

President Joe Biden issued a statement today declaring “junk fees” wrong and illegal. In what may be an electioneering move, the President declared: “… my administration is also making clear: Surprise overdraft fees are illegal.  Listen to how those fees work.  And some of —… Read More