Financial Services

Tencent’s WeChat lowered its SMB fees in response to a government directive, and CBDC adoption may complicate business further.

UK fintech limits freelancers’ income see-saw: SteadyPay, which bagged a $5 million Series A, extends no-interest loans to gig-economy workers that they can access during months when they have lower income.

Proposed crypto mining freeze in New York gains traction: Legislation to freeze mining that uses proof-of-work (PoW) and fossil-fuel plants for three years got two new sponsors in the state assembly.

Zeller’s stats should worry incumbents: The Australia-based SMB neobank said it signed up more than 10,000 customers—and that 80% of them switched from established banks.

It will bring back transfers between the countries through Walmart2Walmart, focusing on low transaction fees.

Europe’s trading app space is crowded, but it’s not full: France-based Shares and UK-based Freetrade each plan rollouts one the continent and might not need a first-mover advantage.

Visa will help expand credit lines and security measures for Tribal Credit’s business cardholders across Latin America.

LendingClub’s strategy isn’t compatible with crypto: CEO Scott Sanborn told Bloomberg that it's avoiding the space to focus on neobanking and mobile banking. It’s not alone.

Lloyds’ retail loyalty deal may help engagement: The UK bank teamed up with and invested in fintech Bink, which connects people’s payment cards to retail loyalty programs.

The CEO of M&T Bank urged US industry watchdogs to hold alternative lenders to the same regulatory standards as traditional banks.