Leveraging partnerships to build a bank with Green Dot
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GO2Bank was the result of longstanding partnerships and relationships between Green Dot and its users, says Abhijit Chaudhary, Green Dot’s Chief Product Officer.
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Fintech News Stories
Fintech meets mutual aid with WellMoney
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WellMoney’s Founder and CEO, Dr. Kortney Ziegler, describes WellMoney as a “cost-sharing community for emergencies” from which members can take from “no questions asked,” avoiding payday lenders or crowdfunding platforms like GoFundMe.
Read MoreMaking payroll digital with The Clearing House
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In 2017, The Clearing House launched Real Time Payments (RTP), which immediately processes funds at any hour. Notably, RTP permits earned-wage access (EWA) capabilities, meaning payroll companies can allow workers to withdraw their earnings at any time, not just at traditional payroll increments.
Read MoreDoorDash launches co-branded card with JPMorgan
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This morning, DoorDash and JPMorgan announced the launch of a co-branded card issued by Mastercard. The card will let users earn benefits both on and off the DoorDash app.
Read MoreCFPB eyes tighter BNPL regulation in new report
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The Consumer Financial Protection Bureau (CFPB) released a new report to expand "interpretive guidance or rules" related to the BNPL space. The CPFB hopes to align the industry with compliance standards introduced in the Credit Card Accountability and Responsibility Act of 2009.
Read MoreMaking payments solutions a marketplace with PayQuicker
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In an interview with The Financial Revolutionist, PayQuicker President Charles Rosenblatt explains the company’s newest offering, details the conditions that gave birth to PayQuicker, and outlines the future of payments and payouts.
Read MoreMaking sense of Starbucks NFTs
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Starbucks announced that it will launch Starbucks Odyssey, an NFT-based rewards program and marketplace. Rewards members can buy and sell NFTs to each other and gain access to exclusive rewards, like virtual classes and trips to coffee plantations.
Read MoreThrough acquisition, JPMorgan competes with Stripe, Block, and itself
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JPMorgan announced that it’s acquiring cloud-native payments startup Renovite. The California-based startup will become part of JPMorgan Payments.
Read MoreIs Klarna really focused on profitability?
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BNPL giant Klarna announced that its losses have tripled in the first six months of 2022, reporting losses of $581M. Its revenue rose by 24% over the same period.
Read MoreMeta bets big on in-app purchases
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WhatsApp, the messaging platform owned by Meta, announced a shopping feature for India-based consumers to purchase groceries and other items within WhatsApp. The feature is launched in partnership with JioMart, an Indian e-commerce company.
Read MoreEl Salvador’s consumers demand better banking, not crypto
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In early July, El Salvador-based payments startup n1co raised $12M in a pre-seed round. The fintech spinoff of super-app Hugo, n1co launched as its own company in early 2022.
Read MoreGrowing insurance connections with bolt
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In an interview with The Financial Revolutionist, bolt CEO Jim Dwane details bolt’s growth strategy, highlights bolt’s value proposition, and shares his view on bolt’s future.
Read MoreBNPL players might pivot from Gen Z to B2B
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BNPL startups like Billie, Mondu, Tranch, and Two are offering short-term credit to businesses facing cash-flow crunches. The short-term B2B loan industry is currently valued at $700B.
Read MoreWith supply-chain struggles, nearshoring demand booms
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Corporate bankers have reported greater interest among business clients to move their supply chains closer to where their consumers are located. Clients are interested in both “onshoring,” which involves returning previously offshored activities to the business’ home country, as well as “near-shoring,” which moves those activities to nearby countries.
Read MoreAffirm may struggle to meet its CEO’s expectations
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In an interview with the Wall Street Journal, Affirm CEO Max Levchin said that a recession will prove Affirm’s underwriting models to be superior to those of banks. Affirm's stock has dropped 77% since its all-time high in November 2021; the S&P 500 has declined 9% in the same time frame.
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