FCA greenlights Klarna for payment and credit services in the UK
A newly formed entity, Klarna Financial Services UK, will now provide all consumer-facing services in the country.
Cards
ICYMI fintech funding round-up: Kiwi, ID Finance, Crezco and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Mexican fintech start-up Trafalgar taps Thought Machine for core banking technology
Trafalagar plans to launch its new platform, running on Vault Core, in Q2 2024.
Mastercard’s joint venture receives approval to commence domestic payments in China
Mastercard’s JV received formal approval from the People’s Bank of China.
US credit card fintech Petal reportedly eyeing potential sale
According to a report by Fortune, sources say the start-up has received multiple offers for acquisition.
US challenger HMBradley winds down consumer business, eyes B2B space
“Our consumer brand growth was falling short of our goals,” says HMBradley CEO and co-founder Zach Brunke.
Eurasian Bank launches Digital Tenge Card in preparation for Kazakhstan’s CBDC
The National Bank of Kazakhstan intends to issue its own CBDC in late 2025.
Lack of funding forces US credit card fintech Ness to close down
Having raised $15.5 million in seed funding, the fintech had hoped to raise an additional $40 million but to no avail.
Apple Pay rolls out new open banking feature for UK customers
Apple Pay’s UK customers can access their “most relevant” account information at the time of purchase.
Dutch payment processor Silverflow lands $16.3m funding
Picus Capital, Coatue, Crane Venture Partners, Inkef, and a number of angel investors also participated in the round.
US digital bank Green Dot appoints SVP Dave Harden as new CTO
Harden has served as the bank’s SVP of product development since February 2022.
Regulators approve ex-UK cabinet minister Gavin Williamson’s appointment to Lanistar advisory board
Williamson is expected to be paid in the company’s shares, and will meet its executive committee once a month.
Lynx raises £15m Series A funding to fight fraud and financial crime
Created 20 years ago, Lynx leverages AI and machine learning to detect and prevent financial crime.
Co-branded credit card fintech Imprint lands $75m in Series B funding
The round was led by Ribbit Capital with participation from existing investors Kleiner Perkins and Thrive Capital.
Wise temporarily pauses new business onboarding in Europe
The company says it is “working to resume onboarding businesses in Europe as a priority”.
Goldman Sachs reportedly seeks new issuer for General Motors credit card
Goldman Sachs bought the GM credit card business for $2.5 billion in October 2020.
UK payments app Cardeo to shut down
In an announcement on its website, Cardeo says it failed to secure funding “required to continue as a business”.
DeFi BNPL start-up AtPay taps Pismo for card issuance
Pismo is to support AtPay’s BNPL and card management programmes, ahead of its Q1 2024 launch.
Kash Baghaei joins expense management platform Jeeves as chief product officer
With 20 years of experience in engineering and product management, Baghaei joins Jeeves from Early Warning.
Video: Mastercard at Money20/20 USA 2023 – Fintech partnerships and sustainable growth models
We chat with Mastercard’s Tim Montgomery and Hania Faridi about the company’s approach to fintech partnerships.
Nominations now open for the seventh annual PayTech Awards
Submit your nominations before 15 March 2024.
The US Federal Reserve proposes new single cap on interchange fees
Reserve board member and governor Michelle Bowman has opposed the revised cap.
Early Warning’s digital wallet offering Paze readies for launch as the US’ biggest banks look to fend off Big Tech
Paze MD James Anderson chats with FinTech Futures about the fintech’s upcoming product launch.
Singapore’s YouTrip eyes international expansion following $50m Series B raise
The latest cash injection brings YouTrip’s total funding to date to over $100 million.
US Bank subsidiary Elavon lands UK banking authorisation
With the licence, Elavon intends to offer authorisation, settlement, card machines, and banking services in the UK.
Coop taps Additiv to launch new financial services app Coop Finance+
Coop says its “super-app” will provide banking services, payments and pension solutions to its customers.
US Federal Reserve Board slaps $14.5m fine on Metropolitan Commercial Bank
The Board alleges that the bank violated customer identification rules.
Former JP Morgan exec Jeremy Balkin’s new venture TodayPay launches from stealth
TodayPay’s solution aims to help merchants provide “instant” refunds to their customers.
Brian Cole joins ClearScore as group chief financial officer
Cole has previously served as CEO of Barclaycard UK and CEO of Capital One’s UK division.
Citi taps Navan to launch travel and expense system for commercial clients
The new system will initially only be available to US-based commercial clients.
US payments start-up Braid winds down operations
The start-up offered a multi-user financial account where consumers could pool their money and make payments.
Al Etihad Payments partners India’s NPCI to develop UAE’s first domestic card scheme
Al Etihad Payments is a wholly-owned subsidiary of the Central Bank of the UAE.
Spice Money taps NSDL Payments Bank to offer zero balance accounts to rural India
Through this partnership, Spice Money aims to broaden financial inclusion across India.
UK’s FCA orders electronic money issuer Nvayo to suspend operations
Nvayo says that it “is working with the FCA to resolve their concerns and hope to find a solution”.
Fintech unicorn Slice to merge with India’s North East Small Finance Bank
Its merger with NESFB will see Slice transition into a small finance bank.
American Express to pilot biometrics for online transactions
The biometrics have been developed by the FIDO Alliance and the World Wide Web Consortium.
UK fintech Wagestream snaps up credit card challenger Keebo
Keebo applies open banking data in its credit decisioning process to lend to those with thin or limited credit histories.
US fintech PayZen launches new product to boost healthcare affordability
With the Care Card, patients can access PayZen’s post-service payment plans through a physical and virtual debit card.
Experian launches digital checking account and debit card for US consumers
With sign-up taking “minutes”, Experian’s new feature allows consumers to “streamline” their financial experience.
GoTyme Bank taps Nice Actimize to fight financial crime
The bank aims to leverage Nice Actimize’s AI and analytics solutions in order to prevent financial crime and fraud.
