Upgrade continues to break new ground in consumer fintech.
When the Upgrade Card launched in 2019, it was the first credit card ever to marry the benefits of a revolving line of credit with a fixed-rate installment loan.
Swift announced today that the European Payment Council's awkwardly named One-Leg-Out Instant Credit Transfer scheme (OCT Inst) went live this week and it enables payments to and from Europe to be processed 24 hours a day, seven days a week.
The Fed came back with a plan yesterday to debit card fees for merchants. Will it be too much for banks to handle?
Zelle has started refunding imposter scam victims, after years of banks questioning their responsibility to do so.
Payment by bank account is a functionality that has existed for more than a decade in many countries. But it is still a relatively new phenomenon in the U.S.
It was almost a year ago when FIS acquired embedded finance startup Bond. CEO Roy Ng and much of the team stayed on at FIS.
Today, we learned about the fruits of this integration. FIS has announced the launch of Atelio by FIS, its new embedded finance platform.
After they famously imploded in March 2023, you could be forgiven for thinking that Silicon Valley Bank's fintech business was done. Not so.
This time last year SVB was still the go-to bank for fintech companies, with the vast majority of venture-backed firms as clients. That changed in March.
You could say Banking as a Service is under siege.
The number of severe enforcement actions BaaS banks received skyrocketed in 2023 to 13.5% of the total. When you consider there are probably only around 100 banks out of 4,800 that are involved in banking as a service, you can see why this number is disturbing.
TransUnion, one of the big three credit bureaus, has launched a new data analytics platform called OneTru.
The new platform will offer banks and fintechs AI and ML tools for addressing a variety of credit, anti-fraud and marketing needs.
In a blog post yesterday describing their 2024 plans, we learned that X will be launching peer-to-peer payments later this year.
We know that the company has been slowly obtaining money transmitter licenses as it builds out its payments capabilities. But this is the first time we have heard about concrete plans to launch a payments service.