The omicron variant and a lack of stimulus funds may have stunted volume growth. Here’s how PayPal can use its super app to boost engagement.
Britain becomes global epicenter of bank scam pandemic, and lawmakers want Big Tech to reimburse victims: Facebook, Microsoft, and Twitter could require financial services to be authorized by regulatory bodies.
Eastern Caribbean Central Bank’s digital currency falters: The regional authority’s digital instrument, DCash, stopped working last month. It’s a timely reminder for other would-be central banks to invest in resiliency.
The firm closed the acquisition and made it available to online merchants in Australia and the US.
Koho’s cash haul brings big product possibilities: The Canadian neobank can use its latest CAD$210 million ($167.5 million) round to build out offerings tailored for its paycheck-to-paycheck target demographic.
A PYMNTS survey shows that most users of standalone BNPL services are interested in bank-backed versions—including customers of the biggest standalone players.
In 2021, mobile finance apps reached 573.1 million downloads in the US, up nearly 19% from 481.9 million in 2020.
Digital brokers will need to diversify and expand their offerings to boost user numbers after the retail investor craze ends.
UBS’s $1.4B acquisition of Wealthfront brings in new tech and, more importantly, lots of affluent millennial and Gen Z investors.
Monzo hangs with a younger crowd: The UK-based neobank won’t join a postal-banking deal that will help older Britons, but it will expand into an investing space that attracts younger consumers.
Because the system can’t turn a profit, it can offer more competitive pricing, which may help spur adoption when it launches in 2023.
Solarisbank, Contis wrap up BaaS bulk-up: The newly merged European banking-as-as-service providers now have a scale that will help them compete in a crowded regional field.
As part of a broader push toward liquidity assistance, checking customers will get a $100 cushion for certain transactions. Alternatives like this are becoming a must-have in a post-fee landscape.