Fintech

Paydirekt, the German initiative launched in 2015 as Europe’s answer to PayPal, is shutting down. The project has been overtaken by the European Payments Initiative (EPI), formed four years ago to combat the encroaching dominance of American-based payment rivals like Visa and Apple Pay. The move marks another step toward EPI establishing itself as the […]

Online marketplace eBay will now accept payments from Venmo, the second most popular U.S. payments platform, in a strategic move to attract younger consumers. In 2023, Venmo boasted 90 million users, with 28% of them falling within the sought-after 18 to 29 age group. eBay expects the addition of Venmo will lead to more sales and […]

Shares of British money transfer company Wise dropped on Thursday after the company projected weaker annual revenue growth in the current fiscal year. The firm’s stock was down 9.8% at 1:30 p.m. London time, after falling as much as nearly 21% earlier in the session. The consumer payments company, which lets customers send or spend […]

AMSTERDAM — The financial technology industry is embracing a new normal — with some industry executives and investors believing the sector has reached a “bottom.” Executives and investors at the Money20/20 event in Amsterdam last week told CNBC that valuations have corrected from unsustainable highs from the industry’s heyday in 2020 and 2021. Long gone […]

In a billion-dollar deal, National Bank of Canada will acquire Canadian Western Bank, expanding the national bank’s commercial banking portfolio by 52% National Bank of Canada announces it will be buying Canadian Western Bank, one of its competitors, in a C$5bn (US$3.63bn) deal. The deal is the latest in Canada’s highly regulated banking market which is predominantly […]

Affirm announced its newest buy now, pay later (BNPL) options, giving consumers more flexibility in how they pay for their purchases. Pay in 2 allows customers to split a purchase into two interest-free payments, while Pay in 30 lets users pay for a purchase, with no interest, within 30 days. The company says the short-term […]

In its upcoming fall iOS update, Apple will add buy now, pay later services to Apple Pay and Apple Wallet. Apple Pay will also be available on Windows-driven PCs and Google’s Chrome browser, giving consumers even more flexibility in how they pay. The BNPL services will be offered through Affirm, and Apple users will be […]

By 2030, Mastercard plans to phase out the manual entry of card information in European e-commerce transactions. Digital buyers who have become accustomed to entering their 16-digit card number and personal data will now be able to make purchases with a single click. The foundation for the credit card giant’s new process is tokenization, and […]

A new report from Visa digs deep into what they call “fintech-forward” consumers, who embrace diverse platforms, apps, and innovative payment methods for financial management. The How Digital Maturity Shapes Consumer Financial Behavior report, in collaboration with polling firm Ipsos, looked at six personas representing different financial mindsets. The most affluent and open to new experiences are […]

The Consumer Financial Protection Bureau took a key step toward enabling open banking in the U.S. by outlining guidelines for a standard-setting body. Open banking requires customers to share their bank and credit card account data with third-party financial technology companies, such as application programming interfaces. Defining and protecting consumers’ data rights is a critical part […]