AmEx launched its digital checking designed for small and mid-sized businesses with the option to recieve a business debit card Thursday.
Some big tech firms “have sought to gain greater control over the flow of money in our economy,” Consumer Financial Protection Bureau Director Rohit Chopra told senators. His comments came after the agency demanded information from large tech companies about their payment offerings.
The card network plans to use technology acquired from CipherTrace to offer compliance and risk management services to firms that handle digital assets.
Currently launched as a pilot, Novi will initially allow users to send money from the US to Guatemala, using the stablecoin digital currency Pax Dollar, which they can hold in a digital wallet and convert into the local currency.
Grain is rethinking credit with loans based on active cash flows, and not credit history – Tearsheet
Grain, a fintech firm out of Oakland, California, is rethinking how to provide Americans with credit. The firm considers currently available credit options to often be unfair, ruthless, and even discriminatory.
Many of these firms have aimed to go public in the vague "end of 2021/ early 2022/ when we have enough money" time frame while participating in increasingly rare-letter funding rounds.
We are going to back to Latin America today as we do a deep dive into the payments space there. With dozens of countries in the region all with their own currency, their own payments infrastructure and different regulatory regimes it has not been easy to expand into new geographies, but it certainly is possible.
The U.S. Justice Department is probing Visa Inc's relationships with large fintech companies as part of its antitrust investigation of the card giant, the Wall Street Journal reported on Wednesday.
Amazon, Google and other technology giants entering financial services should be subject to the same supervision banks are, Rohit Chopra said in his first congressional testimony as director of the Consumer Financial Protection Bureau. He also said he wants to focus enforcement on large firms that harm many people rather than chasing small companies.
On episode 24 I talk with Carl-Alain Memnon of Grain. Grain is the Digital Credit Card for Everyone, they provide a line of credit based on your cash flow, not your credit score.