You may remember a few months ago when PayPal launched Tap-to-Pay on Android for merchants using Venmo and Zettle. Yesterday, the fintech behemoth announced that the feature has now been added for iPhone users.
Back in the go-go days of 2021 the two biggest names in crypto were known just by their initials: SBF (Sam Bankman-Fried) and CZ (Changpeng Zhao).
They often took to Twitter arguing with each other about where the market was going and whether certain tokens were overvalued. But there were no bigger names than SBF and CZ. They controlled the biggest crypto exchanges, outside of Coinbase: FTX and Binance.
The fintech soap opera that is the Synapse saga took another turn yesterday.
We learned less than three weeks ago that TabaPay was acquiring Synapse out of bankruptcy. Now, that deal appears to have fallen apart as disagreements between Synapse, Evolve Bank and Trust and Mercury remain unresolved.
While the AI hype cycle continues, we are starting to see real fintech products come to market using this new technology.
Today, core banking provider Temenos has announced the release of its Responsible Generative AI solutions for core banking as part of its "AI-infused banking platform."
We learned back in February that Klarna's AI chatbot was doing the work of 700 people.
Today, Klarna is reporting about its employee's internal use of AI. It's internal AI assistant, named Kiki, is answering 2,000 employee questions a day and over 87% of its employees are now using it.
Chime is getting into the earned wage access business.
The leading digital bank announced yesterday that it is launching MyPay, a new earned wage access service that will allow customers to access up to $500 of their paycheck before payday.
Visa is hosting its annual Visa Payments Forum in San Francisco this week, and yesterday, there were some major announcements. Some are calling this the biggest thing in card payments since the card chip.
Yesterday, in a 7-2 vote, the U.S. Supreme Court ruled that the funding structure of the Consumer Financial Protection Bureau is constitutional.
This is a big deal for financial institutions. Even though the agency has been a thorn in the side of many fintechs and banks, if the Supreme Court found it unconstitutional, it would undo more than a decade of work and could mean chaos for the industry.
We learned yesterday that federal prosecutors are investigating Block for widespread compliance lapses.
NBC News broke this story after interviewing a former Block employee. This person provided roughly 100 pages of documents that showed transactions involving entities in countries subject to U.S. sanctions.
On Friday, the CFPB announced it was suing mobile peer-to-peer lending platform SoLo Funds for multiple issues.
SoLo Funds targets minority and other underserved borrowers with short-term loans of up to $575. This is a challenging population to serve and a difficult niche to profit from.