Category : Payments

Inside Wells Fargo’s global payments strategy

Wells Fargo, through its partnership with cross-border B2B payments provider TransferMate, is showing its global payments ambitions. According to Judd Holroyde, Head of Global Product Management for Wells Fargo, as e-commerce grows, digitally-driven...

Payday advance app Earnin expands personal finance toolkit

Payday advance app Earnin, which has been downloaded more than 11 million times according to Aptopia data, is on track to become a personal finance platform. It's building out its feature set through in-app bill management features that let users kno...

Payments Startup Marqeta Confirms $260m Funding Round

Card issuing platform Marqeta confirmed a $260 million Series E funding round to expand to new geographies, build more features and support new customer acquisition. Hedge fund Coatue Management led the round, with participation from Vitruvian Partne...

CULedger Partners with R3 on Blockchain-Powered Cross-Border Payments

A credit union consortium is working on a blockchain-based cross-border payments tool aimed at serving 89,000 credit unions globally. CULedger, a group of credit unions working on distributed ledger technology, today launched a partnership with enter...

Wells Fargo Taps TransferMate for Cross-Border B2B Payments

Cross-border B2B payments provider TransferMate announced today that Wells Fargo will use its Global Invoice Connect platform to provide the bank’s U.S.-based commercial banking clients the ability to receive payments in U.S. dollars from their globa...

ATM numbers shrink as cashless trend grows in major markets

As a growing number of consumers swap out cash for mobile or card payments, ATM numbers globally have begun to fall. U.K.-based consultancy and research firm RBR reported today that the number of ATMs worldwide fell for the first time. It claims glob...

With SG$1.5 Mil Loaded for CNY, DBS Extends its QR-Backed Money Packets for Raya

Following the launch of its loadable QR-backed Ang Baos (red packets) earlier this year, DBS is now offering the same this Raya season with the quintessential Hari Raya green packets, in hopes of fostering cashlessness in these usually high-cash acti...

Youtrip, a Multi-Currency Travel Wallet, Closed US$25.5 Mil in a Pre-Series A Funding

YouTrip, a multi-currency mobile wallet with a prepaid Mastercard, has successfully raised US$25.5 million in a pre-Series A. Participating investors include major Asian family offices and venture capital firm Insignia Ventures Partners, founded by e...

Lyft, Mastercard Partner to Offer Instant Payment, Banking for Drivers

Lyft drivers will now be able to get paid immediately and plug into a broader banking and personal savings ecosystem. The ride-hailing service is working with Mastercard and payments company Payfare on a co-branded debit card called Lyft Direct Debit...

Why We Need Bank Innovation Build

There is a revolution going on inside banking. And that’s not just a cheap cliche. It is this revolution that has led us to present Bank Innovation Build, our newest conference, on Nov. 6-7. Allow me to explain: A few days ago, Dana Maor, a sen...

PayPal Tests Incentives to Bolster Venmo Debit Card Adoption

PayPal is using cashback incentives to grow its Venmo debit card user base, an anchor that could help the company monetize Venmo over the longer term. This month, PayPal began offering new Venmo debit card users a 5 percent cashback incentive (up to...

InComm, Mastercard Partner for Wearable Devices

InComm, a payment technology company, and Mastercard are trying to make brick-and-mortar store payments seamless and secure. Last week, InComm announced that its prepaid MyVanilla Mastercard now works on certain FitBit and Garmin devices. By partneri...

Green Dot Doubles Down on BaaS Business with $60m Investment

Green Dot, a Pasadena, Calif.-based fintech with a banking license, appears ready to go all-in on its banking-as-a-service platform business. Executives announced plans during the firm's first-quarter earnings call yesterday to invest an incremental...

Why Visa is Acquiring Earthport for its ACH Payments Business

Visa announced yesterday that it is acquiring the cross-border payment company Earthport. The question is why? The short of it is that the acquisition will allow Visa customers to securely send money to businesses, individuals and banks around the gl...

Japan’s Episode Six to Launch in the U.S. Soon

Payments software provider Episode Six will launch in the U.S. soon, according to its co-founder and CEO John Mitchell. Though he could not disclose a timeline, Mitchell noted he's currently visiting New York City to lay the groundwork for the launch...