Digital wallet usage is by far highest in China, where 45% of adults use the payment method daily, and an additional 41% do so at least once a week. By comparison, just 6% use digital wallets daily in the US.
Reducing the need to rely on third-party partners minimizes risk for Stash and creates value if it’s acquired.
The bank will instead focus on affluent customers in the region, narrowing its operations ahead of the impending economic downturn.
They formed the Open Finance Association, a trade association for fintechs. We’re likely to see more fintechs unite globally as open finance grows.
Affirm can maintain its market lead by working with the country’s largest etailer, and Amazon can use a growing payment method to avoid bleeding customers to rivals.
Nirvana Money and a new niche bank designed for US military members aim to flip the story that neobanks can’t succeed.
The initiative, launched by Zopa Bank and ClearScore, aims to help UK consumers make better financial choices.
It rolled out a simpler tech stack with UPI Lite and introduced credit card linking, which can aid its global expansion efforts.
The SEC fined the firm $35M for improperly disposing of devices containing sensitive data.
Fintechs and neobanks value banking licenses for functional reasons, but they might be seeking intangible benefits as well.
Customers are still reporting service gaps. Now the AG wants to take control, and others are calling for federal oversight.
Smarter subsidies and incentives for EV adoption: Global EV adoption targets require a monumental shift for consumers. The shift can be accelerated by incentives to help bring down initial costs.