Payments

We dive into how payment solutions are reimagining the banking systems of the future. 

‘Billionaire Effect’ Provides Investors with Higher Returns, UBS Says

Billionaire_UBS
Billionaires are of a different breed, which may be good news for investors. Their determination, focus and appetite for risk not only sets them apart, but also drives their companies to outperform others. This so-called “Billionaire Effect” means that...

Can This Digital Payment Card Win Over Gen Z Clients? Not So Fast.

Karma_Profile_Mitto
Key Takeaway: Mitto hopes that its digital payment card wins over Generation Z clients in Spain, Latin America, and the E.U., but heavy competition and an underwhelming history with prepaid debit cards might put the breaks on its global expansion.

Carlyle Group’s Big Bets on Energy, Technology Help Propel Third-Quarter Profit

Karma_News Summary_Carlyle Q3 profits rise
Private equity giant Carlyle Group completed a blockbuster majority stake acquisition in the energy sector and invested in a promising artificial intelligence technology company in an upbeat third quarter that topped estimates.   Co-CEOs Kewsong Lee and Glenn Youngkin said...

Congress Grills Zuckerberg for Pitching Libra as Solution for the Unbanked

Karma_News Analysis_FB Libra
Facebook CEO Mark Zuckerberg, testifying again today on Capitol Hill, faced pushback from members of Congress skeptical of his claims the social media giant’s proposed Libra stablecoin is intended to help the world’s unbanked. The hearing before the House...

Want to Release the Animal Spirits? Break the Glass Ceiling, Study Suggests

Karma_News Analysis_Female CFOs
Key Takeaway: Gender diversity can pay off for investors as companies that promote women to CEO and CFO are likely to be more profitable and have better stock performance.

World’s Biggest Banks Slowly Embracing Climate Initiative Championed by Carney, Bloomberg

Karma_News Summary_Big bank climate initiative
Wells Fargo, Commerzbank and UniCredit are among the world’s biggest banks yet to sign on to a climate change initiative championed by Bank of England governor Mark Carney and billionaire Mike Bloomberg that would help environmental impact investors allocate their funds.

Citi’s New Sustainability Chief to Lead Low-Carbon Transition, As Banks Push Green Incentives

Karma_News Analysis_Citi Sustainability Officer
Citigroup, ready to meet a ten-year $100 billion sustainability goal four years ahead of schedule, named the executive in charge of the initiative to the new position of chief sustainability officer as the company joins a host of banks and big corporations...

Protect the Environment, Borrow at Discounted Rates: The Rise of Sustainable Loans

money in soil
Plenty of companies say they want to save the planet. It makes for good headlines and warm, fuzzy feelings, but what about investing actual money to back claims of environmental and social responsibility?  Enter the sustainability-linked loan, or SLL. 

Chase Pay App Demise Highlights U.S. Lag in Mobile Pay Adoption

When JPMorgan Chase & Co. said this week it was shutting its Chase Pay app, it was a sign of struggles -- and opportunities -- for banks and tech firms as Americans lag the world in paying for stuff with their smartphones. 

Russia’s Fintech Booms As Smartphone-Savvy Grandmas Go Cashless

Russians are increasingly using mobile wallets to pay for groceries and bills as cashless technologies disrupt the financial services industry, extending their reach across the world’s largest country. The number of purchases made with smartphones has jumped nearly threefold over the past...

Bitcoin Miners’ Use of Coal-Powered Energy Alarming to Some

As Bitcoin gains use in international transactions, and in providing finances to people without access to regular banks, critics are pointing to the environmental costs exacted by the powerful computers used to “mine” buried Bitcoin codes. Bitcoin miners use...

WhatsApp Seeks to Snatch India e-Payment Lead from PayTM, Amazon Pay

WhatsApp’s delayed digital payment system in India is moving closer to a start, as it addresses privacy concerns before becoming the latest entrant in a market projected to hit $1 trillion by 2023. WhatsApp Pay was delayed in April as...

Facebook’s Marcus Defends Libra’s Financial Inclusivity

This week, David Marcus, Facebook’s vice president of messaging products, addressed one of the prominent criticisms of the global electronic currency since it was unveiled by the world’s biggest social network last month. When Facebook shared its plans on...

Alipay to Boost Facial-Recognition Payment with Beauty Filter

Paying for groceries in a growing number of stores in China requires neither cash, credit cards, or phone. Just a face to scan. Now, thanks to an Alipay device that plays on our narcissism, the scanned face might look more attractive on...

Kiva Starts Refugee Fund to Raise Larger Amounts for Micro-Lenders

Kiva, the crowdsourced micro-lending platform, is going bigger to help refugees gain access to larger amounts of capital by launching the Kiva Refugee Investment Fund. Since 2016, Kiva has provided local micro-finance institutions, also called field partners, with capital...

European, U.S. Regulators Mobilize to Curb Cryptocurrency

France plans to assemble a G7 task force to study how banks monitor cryptocurrencies like Facebook’s Libra, France’s central governor announced on Friday, Reuters reported. This task force is the latest addition to a growing number of international entities...

Why Did MoneyGram Partner With Ripple – and What Does it Mean for You?

Before the dust had settled on Facebook’s announcement that it planned to introduce a digital coin, MoneyGram rushed in and announced a deal with cryptocurrency firm Ripple, where it will to distribute Ripple’s digital currency XRP across the world and Ripple will...

Morgan Stanley Pushes for Progress in Social Impact Investing

Morgan Stanley doesn’t want to be left behind, as socially responsible investing is gaining momentum in the United States and beyond. Morgan Stanley is offering customers a handful of impact investing options as demand soars for opportunities that...

The Fintech Startup Taunting U.K. Banks Out of the Stone Age

U.K. mobile-first bank Monzo sent a warning shot across the bow of the financial industry in 2016 when it needed just 96 seconds to raise more than $1.2 million through crowdfunding for its prepaid card. With the U.K.’s banking...

Bank ‘with a Conscience’ Bets on Socially Responsible Consumers

Sound Businesses: Profiles of companies and business models we are keeping an eye on. Andrei Cherny is not your typical banker. He had written speeches for President Bill Clinton, helped Elizabeth Warren launch the fight for what became the Consumer Financial Protection Bureau, advised Bank of...

Meet the Startup Aiming to Outsmart the Big Guys and Insure the Unbanked

Sound Businesses: Profiles of companies and business models we are keeping an eye on. Over the past decade, mobile phone technology has provided access to banking services like credit, payments and wealth management to tens of millions in poor areas of Asia, Latin America and...

With Its New Blockchain Company, Facebook May Succeed In Connecting Billions of Unbanked Users

On Our Radar: Deals we are paying attention to, for their impact on industry. Earlier this month, Facebook quietly set up a company in Switzerland, according to a Reuters report. If the social media’s foray into Blockchain payment succeeds, analysts say it might have a massive...

David Solomon: “How do you balance the scales fairly between businesses and communities?”

Sound Businesses: Profiles of companies and business models we are keeping an eye on. The lack of financial infrastructure in some of the world’s poorest regions — sub-Saharan Africa and parts of South and Southeast Asia, Latin America and the Middle East — is a...

Jeff Stewart on the Emerging Markets: “There’s certainly a tremendous need for greater financial literacy”

Sound Businesses: Profiles of companies and business models we are keeping an eye on. With apologies to London and regrets to Wall Street, one of the most important developments in finance of the past decade is the product of innovation in the Emerging Markets, not...

Mastercard Picks Up New POS Tech With Vyze Acquisition

On Our Radar: Deals we are paying attention to, for their impact on industry. Mastercard acquired Vyze, a technology platform that enables customers to tap into numerous credit options at checkout, to gain a foothold in the growing point-of-sale financing industry. With the purchase, Mastercard becomes a strategic...

Extend Raises $11M to Supply Gig Workers With Virtual Credit Cards

On Our Radar: Deals we are paying attention to for their impact on industry. Extend, the virtual credit-card platform focused on participants of the gig economy, has raised $11 million to expand its service, add clients and make new hires. The Series A funding round announced on April...

China Moves to Ban Crypto Mining Farms

On Our Radar: Deals we are paying attention to for their impact on industry. China is yet again trying to curb the rapid growth of cryptocurrencies, this time in the form of a proposed ban on mining farms. These facilities full of servers validate transactions in...

Artificial Intelligence Lending Startup Upstart Network Raises $50M, Partners with Banks

On Our Radar: Deals we are paying attention to for their impact on industry. Upstart Network, an artificial intelligence (AI) lending platform founded by ex-Googlers, has raised $50 million in equity funding. Progressive Investment Company, Healthcare of Ontario Pension Plan and First National Bank of Omaha...

Report: Italy’s UniCredit Preparing Bid for Commerzbank

On Our Radar: Deals we are paying attention to for their impact on industry. Foot-dragging to the altar has plagued many a wedding, especially when it’s one of convenience. So while the government-sanctioned courtship of Deutsche Bank and its cross-town rival Commerzbank, Germany’s two biggest lenders, has...

Goldman Sachs, Cerity Partners See Opportunities in Retirement Space

On Our Radar: Deals we are paying attention to for their impact on industry. April 2 was a big day for investment in the retirement planning and financial services space. Goldman Sachs Principal Strategic Investments led a $30 million Series Bfunding round in Vestwell, a retirement technology...
- Advertisement -