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.
Cards
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.
Finalists announced for PayTech Awards USA 2023
We are thrilled to share with you the finalists for the first PayTech Awards USA!
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.
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.
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.
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.
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.
FIS acquires BaaS start-up Bond for undisclosed sum
In an internal memo, FIS shares that it completed the Bond acquisition on 8 June.
White paper: Building a business card program in today’s digital first landscape
How to make a card program for SMBs a conduit to continued customer/member loyalty and growth for an FI.
Infographic: The five steps to top-of-wallet status
The five steps you need to achieve card dominance in today’s highly competitive landscape.
FinTech Futures: Top five stories of the week – 9 June 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Paytech Medius to acquire expense management firm Expensya
Medius says the acquisition of Expensya is “one of the largest in the MENA region”.
Video: US Bank at FinovateSpring 2023 – The evolution of digital payments in the US
We chat with Anu Somani of US Bank about how digital payments have evolved over the last few years.
Marqeta closes Australia office in bid to cut costs
Marqeta is undertaking “restructuring actions” in Q2 this year to reduce operating expenses.
New banking app Charlie aims to cater to retirees in the US
The start-up, which was founded in 2021 and launched nationwide last month, has raised a total of $7.5 million.
Mexican fintech Stori secures $50m debt capital from CIM
For Stori, it is the second debt facility from CIM, following a $75m debt facility in November 2021.
Become a judge for PayTech Awards USA 2023
Apply to become a judge for the PayTech Awards USA 2023 today!
Venmo launches account and debit card for teens
The account will be rolled out to select customers in June and will be “widely available” in the coming weeks.
What the FinTech? | S.4 Episode 9 | The rise of bank payments
In this episode of the podcast, we’re joined by Ben Morfoot, Director of Product Management at GoCardless.
Why is Apple taking a bite out of banking?
For Apple, maybe banking is just another brick in the wall, not the wall itself.
US LGBTQ+ neobank Daylight to close down
The final day of Daylight’s banking operations will be 30 June.
San Francisco fintech Cardless secures $75m credit facility from i80 Group
The debt facility will provide Cardless “flexibility” to meet growing demand for co-branded credit card products.
Meridian Bank taps Corserv to launch business credit card programme
With Corserv, Meridian Bank will be able to offer credit cards with a variety of APRs, rewards and features.
Standard Chartered partners Worldpay from FIS to expand payment collections offering
With the partnership, the bank aims to expand the footprint of its solution across Asia and other markets.
Barbados challenger Sagicor Bank launches on Mbanq’s BaaS platform
Through Mbanq, Sagicor Bank aims to offer customers “branchless” digital financial services.
FinTech Futures Jobs: When to say no at work, and how to do it
Explore thousands of open roles on the FinTech Futures Job Board today.
How digital payments are changing the world
In both sociological and economic terms, the rapid switch to digital payments is fascinating.
US credit card start-up Petal bags $35m in fresh funding, spins out Prism Data
The new investment will be split between Petal and Prism Data as the businesses look to scale.
Apple’s new savings account sees $1bn in deposits within one week of launch
Forbes reports the savings account attracted $400 million in deposits on launch day alone.
LatAm paytech start-up Liquido launches from stealth with $26m in funding
The firm says its payments infrastructure will “modernise and democratise” digital payments for LatAm businesses.
ICYMI fintech funding round-up: Kiwi, Green-Got, Moonsense & more
Our weekly round-up for you to get the latest fintech funding news from around the world.
US paytech Finix is now officially a payments processor
The Infrastructure-as-a-Service firm now has direct connections to all major US card networks to process payments.
