Chilean digital bank Tenpo partners Dock for new credit card offering
The offering positions Tenpo as a competitor to traditional financial lenders in the country.
Cards
Peoples Bank taps Corserv to launch credit card programme
With Corserv, Peoples Bank will be able to offer 14 different credit card products to its business and retail customers.
ICYMI fintech funding round-up: Communion, CityPay & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Turkish fintech Param acquires BNPL firm Twisto to boost European expansion
Param plans to leverage Twisto’s licences to offer its embedded financial solutions across Europe.
Mexican challenger Klar lands $100m debt facility to expand credit product offerings
The new facility has been provided by US investment firm Victory Park Capital.
New digital bank for the US military Roger launches
Roger was built in partnership with banking technology solutions provider Nymbus.
DBS completes acquisition of Citi’s consumer banking business in Taiwan
DBS has also absorbed close to 3,000 employees from Citi Consumer Taiwan.
ICYMI fintech funding round-up: Chargeflow, Knot, Treasure Financial & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Torpago confirms two new senior hires following “significant growth”
James Yacobucci has been appointed to head of bank partnerships and Noah Martin to head of capital markets.
Bangladesh Bank taps Fime to launch domestic card scheme
The six-year partnership will see Fime help the central bank establish an independent payment infrastructure.
US fintech Greenlight launches credit builder tool for teenagers
Greenlight says parents can add their teenagers as authorised users of its credit card to start building credit.
Payabl. secures EMI licence in the UK
Payabl. says the authorisation will “unlock significant opportunities” as it looks to expand across the UK.
SumUp secures $100m credit facility to expand merchant cash advance product
The facility is being provided by Chicago-based investment firm Victory Park Capital.
Mexican challenger Albo snaps up Delt.ai for $20m
The acquisition makes Albo “the only neobank to offer debit and credit products for both consumers and SMBs”.
Credit card fintech Petal secures $200m debt facility from Victory Park Capital
In addition, the company has also raised $20 million in new equity financing from its existing investors.
FinTech Futures: Top five stories of the week – 4 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Over $10bn deposited into Apple Card’s savings account in first four months of going live
The offering had already accumulated $1 billion in deposits within the first week of going live.
Mercury Financial secures $200m debt facility to expand credit card business
The facility has been provided by client funds managed by US investment banking company Neuberger Berman.
Pay.UK reveals big jump in number of current account switches in the UK over last 12 months
Pay.UK’s Current Account Switch Service has seen a 50% increase in switches compared to last year.
Finalists announced for PayTech Awards USA 2023
We are thrilled to share with you the finalists for the first PayTech Awards USA!
UK’s Clockwise Credit Union launches self-built core banking solution
Clockwise’s IT manager says the launch is a “culmination of a huge amount of work over the past six years”.
Webinar | 6 September 2023: Pioneering innovative partnerships – unveiling the game-changing fintech hybrid model at the point-of-need
An insightful journey through the experience of the successful implementation of the hybrid start-up model.
Karat Financial secures $70m in mix of equity and debt financing
The start-up has also launched a new business card in partnership with Visa to help digital creators access credit.
Saudi Arabia’s HyperPay acquires fintech start-up Sanad Cash
HyperPay is aiming to expand its product offerings in order to become an “all-in-one” digital payments platform.
ila Bank taps Arab Financial Services for prepaid card offering
The Bahraini denominated card can be used to pay for transactions in both an in-store and online setting.
Demystify Podcast: Payments, the planet & equality with Monika Liikamaa, co-founder of Enfuce
Enfuce’s Monika Liikamaa helps demystify why and how the payments industry can help with the climate agenda.
Payhawk launches in Lithuania after securing EMI licence from central bank
With a presence in Lithuania, the company hopes to gain more business in the Baltic region.
Bank of America fined by US regulators over fake accounts and junk fees
The CFPB has ordered Bank of America to pay $150m in penalties and more than $100m to affected consumers.
Ten UK credit unions tap Engage for Faster Payments Service
The community banking platform’s FPS offering is projected to benefit 100,000 credit union members.
Grow Finance joins Pismo as its first Australian client for card issuance
Launching this September, Grow seeks to provide businesses with better cash flow, management and capital.
Apple eyes credit card launch in India as partnership with Goldman may be nearing its end
Apple is reportedly exploring a partnership with HDFC Bank in India to roll out a credit card offering.
US fintech Clair lands $25m equity funding to power on-demand pay
The start-up has also secured a $150 million consumer lending program with banking partner Pathward.
Mbanq’s BaaS offering supports US debut of SME-focused Cheqly
Cheqly’s services include business accounts, physical and virtual Visa cards, ACH payments and wire transfers.
Turkish fintech Papara acquires Spanish neobank Rebellion Pay
Papara calls the acquisition a “crucial step” in its European expansion strategy.
Wise to offer its infrastructure to help fintechs issue accounts and cards
Wise Platform will roll out the new features in Australia initially, and has already signed two clients.
Honouring the innovators: PayTech Awards 2023 winners revealed
Celebrating exceptional achievements and talent in payments industry worldwide.
Visa to acquire payments and banking platform Pismo for $1bn
The transaction is subject to regulatory approvals and is expected to close by the end of this year.
Aussie fintech Stables launches APAC’s first stablecoin virtual card
Stables’ CEO says the company wants to simplify stablecoin usage and drive its global adoption.
US fintech Ramp buys AI customer support platform Cohere.io
Cohere.io’s entire team, including CEO Yunyu Lin, will join Ramp as part of the deal.
Robinhood snaps up credit card platform X1 for $95m
The acquisition is expected to close in Q3 2023, subject to customary closing conditions.
