“A new kind of credit card. Created by Apple, not a bank.” Now plastered across Apple’s website, these words signal the company’s next advancement into finance with Apple Card, the new credit card service it is launching later this summer. And they’re only half true. While it is a novel take on credit cards, it’s not […]
Walmart customers can now pay for items using credit from Affirm, the online consumer lender announced yesterday. Walmart customers can find out how much they qualify for online and then make online or in-store purchases with in three, six or twelve monthly installments. A credit decision is made in real time and does not affect […]
More than 21 million merchants accept PayPal to take advantage of the 246 million consumers who use it. That’s a lot of merchants to offer value-added products like PayPal Working Capital and invoicing services. But then there’s Venmo, a fast growing digital wallet that PayPal also owns that processed $19 billion in payment volume last […]
Lisa McFarland, Chief Product Officer, Ingo Money Yesterday, Ingo Money announced the launch of Ingo Money QuickConnect, a new solution that allows companies that issue payments – including loans – to disperse funds directly to a merchant’s debit card. Ingo Money has partnered with Visa Direct to facilitate these direct payments. This is the official […]
Square Capital originated more than 62,000 business loans for a total of $405M in Q3, up from $390M in the previous quarter, according to the company’s latest earnings report. By contrast, OnDeck, a Square Capital competitor, reported loan originations of $648M for the quarter. Both companies find themselves facing new competition from a growing field […]
Stripe has recently started offering a new API, or programming feature, that allows its merchants to offer physical or virtual credit cards to their employees. The product, called “Issuing,” is still being tested and is currently by invitation only, although it does appear as an offering on the company’s website. Merchants can request an invitation. […]
According to Apple’s quarterly earnings that were released on Tuesday, Apple Pay transactions tripled from last year at the same time to more than 1 billion transactions. CEO Tim Cook said during Apple’s recent earnings call that this is more than Square did in the last quarter and exceeded the number of mobile transactions via PayPal. […]
PayPal announced its Q2 2018 earnings yesterday. Notably, total payment volume grew 27%, which is 1% higher than Q2 of last year. And the popular payment app Venmo, which is owned by PayPal, grew 78%, only slightly less than its growth of 80% from the last quarter. As expected by Wall Street analysts, revenue growth […]
Snapchat will be terminating its payment service platform, Snapcash, on August 30. Launched in 2014, Snapcash allows users to send money to each other (via a cash app) in a fast and free way. Money goes to users’ bank accounts that are linked to their debit cards and the payment processing is handled by Square. […]
Chicago-based Lendr is launching a new business debit card program, according to an announcement the company made at LenditFintech. This will give them the ability to fund business owners in real-time via an instant access virtual Mastercard followed up with a traditional plastic card. This system is different than pushing funds to a merchant’s existing […]
Kabbage and LendingPoint each separately announced today that they will soon be able to get funds into their customers’ business accounts instantly and 24/7 via their pre-existing bank debit card. Hopes for this are not brand new. Last October, OnDeck announced a partnership with Ingo and Visa that would provide this convenience to borrowers, although […]
We all must leave our parents one day and branch out on our own. However, this is probably not what PayPal Holdings Inc. had in mind. The company is surrendering its duties as the primary payment option for its former parent, eBay Inc. On Wednesday, eBay announced that Adyen, a Dutch company, will take over […]
Amazon just turned the heat up on fintech and said that it will look to acquire startups as the dust around valuations settles.
Wallet Card, which was launched in November 2013 lets users make payments at ATMs, banks and any business that accepts MasterCard Debit.
Square launches new payments API tools. Goes for a bigger merchant base
On March 9th, the payments company will present a scorecard of how it’s doing and what that means for its investors.
Visa just bought a 10 percent stake Jack Dorsey’s payment company, Square. The payments network revealed an SEC filing announcing its 9.99 percent stake in the company and Square’s stock jumped 11 percent at market opening. Visa seemingly upped its stake, from the previously undisclosed investment it made in the company in 2011, according to […]
Coming soon, the ability to ACH funds same-day will finally exist. The change will be a boon to tech-based lenders that have become famous (or infamous) for their ability to approve and issue loans quickly. No matter how fast the systems have become however, the ACH network has continued to slow the process down. Next-day […]
Company Announcement Dwolla to help U.S. Treasury go paperless, prepare for a secure digital future Each year the The U.S. Department of the Treasury’s Bureau of the Fiscal Service collects 400 million transactions worth $3.7 trillion. Ensuring that its collection programs stay relevant, safe, and cost-effective, they recently launched a new Digital Wallet program. The […]