The Latest
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American Express launches business checking accounts
The card network's subsidiary, Kabbage, initiated the checking account product last summer, before it was acquired by AmEx.
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Gig economy workers gravitating toward faster pay
The use of digital and mobile payments accelerated during the pandemic and gig economy workers expect to leverage them for better payments options, studies find.
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Courtesy of Klarna
ColumnHow payments became a magnet for money
The industry was beginning to attract record amounts of venture capital in recent years, but the pandemic's impact super-charged the trend.
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Justin Sullivan / Staff via Getty Images
American Express outpaces rivals in digital satisfaction: J.D. Power study
Credit card apps experienced a rise in customer satisfaction as financial institutions innovated during the pandemic, according to the research.
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Citi's new 5% cash-back card signals an industry rebound
The world's top card issuer rolled out its new card last week days after Wells Fargo launched a new product, showing the card industry is ready to rebound from a relatively muted 2020.
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Discover reaps Marqeta IPO windfall
With its Marqeta stake now worth about $800 million, Discover Financial said it will "accelerate" increased spending on marketing in the highly competitive card market.
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Klarna raises $639M, eyes international expansion
Klarna, now with a $45 billion market valuation, aims to expand its global market share and in-store buy now-pay later options.
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Socure gears up for IPO, perhaps sooner than expected
The identity verification company added new top executives and raised its profile in the wake of peer stock offerings that showed investors' appetite for payment company shares.
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Justin Sullivan via Getty Images
Airbase raises $60M, aims for larger clients
Airbase plans to use the new capital to upgrade its products in a crowded expense management space.
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Courtesy of Toast Inc.
Toast buys xtraChef for back-office payments and operations management
The acquisition will allow the point of sale (POS) company to offer insights into profitability by menu item, automation and intelligence tools to streamline tasks like accounts payable, managing inventory and tracking margins.
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Retrieved from Clair on June 10, 2021
Clair attracts $15M for its on-demand pay play
Clair is bolstering its resources as competition intensifies in offering employers and employees on-demand pay options.
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clikced it myself - Vaidik Trivedi
'Super-apps' are the next evolutionary step for financial services
As transactions are increasingly digitized, financial service providers are vying to create "super-apps" that connect consumers to a bevy of financial services.
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Marqeta IPO shares pop 13% on first day of trading
Marqeta, which counts payments technology company Square as its largest customer, raised $1.23 billion from the initial public offering.
UPDATED: June 10, 2021 at 8:42 a.m. -
Courtesy of Gemini
Gemini acquires Shard X, seeking to bolster crypto transactions and custodian security
Cryptocurrency exchange and custodian platforms like Gemini are ramping up security measures as the digital asset class is gaining popularity among users and fraudsters alike.
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Justin Sullivan via Getty Images
Amazon card portfolio up for grabs with bids from AmEx, Synchrony
JPMorgan Chase, the nation's largest bank, may reportedly be ready to part with the Amazon portfolio it has worked with since 2002.
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Walmart makes cash payment options more efficient
The retailer in August will start offering a faster cash payment option at 4,000 locations to customers paying monthly bills, through its partnership with financial tech partners PayNearMe and Green Dot.
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Retrieved from ILGA.gov on March 25, 2021
Illinois digital asset charter bill falls short in spring session, persists for next round
The bill creating a special charter for digital asset trusts passed the House before adjournment last month, but still requires approval from the full Senate to become law.
UPDATED: June 7, 2021 at 5:01 p.m. -
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Goldman Sachs taps Visa for cross-border payment upgrade
The global investment bank is aiming to streamline and enhance cross-border payments for its clients by signing on for Visa's cross-border programs.
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Rob Kim via Getty Images
Regulators increase scrutiny of cryptos in money-laundering
The decentralized and anonymous nature of cryptocurrency makes it susceptible to money laundering, and governments across the globe must respond, industry experts said during Payments Canada Summit last week.
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Courtesy of Visa
Consumer spending changes likely to stick, Visa says
For better or worse, some of the pandemic-triggered behavioral changes, like more online purchasing and digital payments, are likely to outlast COVID, a top executive for the company said.
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Courtesy of Leticia Resende
DLocal raises $75M in IPO, spearheads emerging markets
DLocal aims to expand in emerging markets because "strong cross-border business partnerships between global merchants and service providers are important and will continue to gain importance," DLocal COO Sumita Pandit told Payments Dive.
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Crypto exchange Kraken launches mobile app in US
Customers can buy and sell more than 50 crypto tokens from their mobile phones with a starting investment of as little as $10. The services are not available for residents of New York or Washington state.
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Provided by Synctera
Mastercard invests in fledgling fintech Synctera
San Francisco-based Synctera, only six months old, draws $33 million from a pack of investors as it takes on the role of matchmaker between small banks and fintechs.
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Courtesy of Brain Ruby
Certegy aims to counter rivals with white label offering
Certegy is taking aim at competing buy now-pay later market players with its new product, as customer adoption of that BNPL financing option grows.
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Courtesy of SpotOn
SpotOn raises $125M to keep up battle against Toast, Square
"We're always looking for companies to partner with or acquire," said SpotOn Co-CEO Zach Hyman. "It's always a question of build versus buy."
