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.
Companies in several markets are offering crypto products that act like bank accounts, and regulators have taken notice.
Worldline partnered with Japan-based Vesca to process digital payments, which can give it an early mover advantage as cashlessness grows.
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.
Even JPMorgan needs to assuage crypto fears: The banking giant invested in TRM Labs, which provides anti-money laundering compliance and security services to banks, crypto firms, and law enforcement.