CFPB orders Apple and Goldman Sachs to pay combined $89m over “Apple Card failures”
Apple first selected Goldman Sachs in 2018 to develop and power its credit card offering.
Cards
American Express to acquire UBS’s 50% stake in Swisscard, becoming sole owner
Swisscard was founded in 1998 as a joint venture between Amex and Credit Suisse.
ICYMI fintech funding round-up: Abhi, Emerge, Diesta, and Axyon AI
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 18 October 2024
Our pick of the top fintech news stories this week includes TD Bank, Barclays, Klarna and more.
State of play: card networks
The emergence of alternative payment rails has forced card networks to evolve to ensure their continued success.
Capital One commercialises AirKey authentication technology for financial institutions
75 million Capital One cards are currently equipped with the technology.
Barclays signs agreement to become exclusive issuer of GM credit card programme
The bank will replace Goldman Sachs as the issuer of the US automotive giant’s credit card programme.
Citi and Mastercard collaborate to enable cross-border payments via debit cards
The partnership will enable cross-border payments to Mastercard debit cards in 14 receiving markets.
Mercury secures $100m Natixis CIB credit warehouse to fund IO card programme
The warehouse will apply to Mercury’s credit card programme, which launched in 2022.
Montana’s Intrepid Credit Union launches digital banking with Alkami
Alkami says the platform will enable the credit union to “foster greater engagement”.
HSBC launches embedded finance venture SemFi with Tradeshift
SemFi provides embedded payment, trade and financing solutions from HSBC.
Secure Trust Bank’s head of payments and cards to step down
Having joined the bank in 2021, Higham says “the time is coming very shortly to move on”.
BNKA launches new payments function for LATAM migrants in Europe
BNKA is enabling migrants in Europe to pay bills in Argentina.
ICYMI fintech funding round-up: Outgo, Mifundo, Mesa, Simpler, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
September 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories in September.
September 2024: Top five new launches of the month
FinTech Futures takes a look back at five of the top new product launches in September.
September 2024: Top five fintech partnership stories of the month
FinTech Futures takes a look back at five of the top fintech partnership stories of the month.
Former Capital One VP Fouzi Husaini joins Marqeta as chief AI officer
Before joining Marqeta, Husaini was VP of machine learning at Capital One and led tech teams at Amazon.
FinTech Futures: Top five news stories of the week – 20 September 2024
Our pick of the top fintech news stories this week includes JP Morgan, CSI, Revolut and more.
UK credit card start-up Yonder secures £23.4m in fresh funding
Yonder is planning to expand its operations beyond its domestic market of the UK.
JP Morgan reportedly in talks to replace Goldman Sachs as Apple’s credit card partner
The Wall Street Journal reports that talks between JP Morgan and Apple commenced at the beginning of this year.
Brazil’s Parabank partners Dock to launch inclusive card programme for people with disabilities
The São Paulo-based challenger has adopted Dock’s private-label card processing platform.
Zambian fintech Lupiya partners Network International for debit card programme
The fintech is leveraging Network’s “comprehensive suite of card payment processing solutions”.
Enfuce to launch dual-function E2 card in UK, France and Germany with Mastercard
E2 combines both debit and credit primary account numbers into one card.
Financial management software provider to SMEs, Finally, raises $50m equity and $150m debt
Florida-based Finally plans to expand its AI-powered business payments platform across the US.
Ireland-based paytech CleverCards hires former Edenred exec Ray Brash as COO
Ireland-based paytech CleverCards enables corporates to pay their consumers, employees, and vendors with virtual cards.
Saldo Bank taps Enfuce to launch its first payment card programme
Enfuce will deliver “over 60,000” Visa credit and debit cards for the programme.
BankDhofar partners Entrust to deploy Tap to Pay services in Oman
BankDhofar claims it is “one of the first banks” to launch Tap to Pay in Oman.
New UK climate fintech Zero gears up for end-of-year launch
Zero secured seed funding in 2023 and is now pursuing additional capital through a seed extension round.
Shift4 acquires Canadian fintech Givex
The acquisition is anticipated to close in Q4 2024.
New fintech Barq led by former STC Pay CEO launches in Saudi Arabia
Barq claims to have onboarded over 1 million users just three weeks after its debut.
Malta’s Papaya promotes Igor Tsybolyuk to CEO
Tsybolyuk has served as Papaya’s chief operating officer since June 2022.
Science Card introduces new debit card offering to help accelerate UK scientific discovery
Customers can support ongoing projects focused on dementia, cervical cancer, and kidney transplants.
UAE fintech Yuze bags $30m funding to propel expansion into new markets
Yuze offers a digital financial services platform built to help simplify financial management for SMEs.
The shifting credit landscape in the digital age
Will the concept of a credit score as we know it become obsolete?
US fintech Tally to shut down after failing to secure “necessary funding” to continue operations
The fintech had previously secured $80 million in Series D funding in 2022.
Mexico’s Stori lands $212m in mix of equity and debt financing
In addition, Stori has appointed Diego Cabrera Canay, ex-CFO of dLocal, as its new group CFO.
Varo Bank inks five-year issuer processing deal with Marqeta
The deal will enable Varo cardholders to add tokenised cards to their digital wallets.
SME-focused neobank Ampere launches card-to-card payments in partnership with Mastercard
The offering facilitates conversions in over 60 different currencies.
Northeast Bank adds credit cards to commercial suite through Corserv solution
The bank is leveraging the vendor’s account issuer programme.
