Hi! It’s Monday, June 29, 2020. Did you know that on this day 13 years ago, the Apple iPhone (1st generation) was released?? Leading Off Mastercard acquired open banking API platform Finicity for up to $1 billion. // The Brazilian central bank suspended WhatsApp’s mobile payments service only a week after it launched in the […]
Leading Off WhatsApp launched payments functionality in Brazil after several months of difficulty, allowing Brazilian users to send and receive money through the app using Facebook Pay. // The EU opened an antitrust investigation into Apple’s App Store and Apple Pay. // Quicken Loans, the largest U.S. mortgage lender, is planning an IPO, which could […]
Throughout the year, we’ll be offering a deeper look at some of the biggest trends in fintech, which we believe will continue to impact financial services in the coming decade. This week, we’re taking a look at the expansion of the “Big Tech” firms into financial services. As always, if you have any ideas for […]
A federal judge ruled in favor of the NYDFS in its ongoing suit to prevent the OCC’s “fintech charter”; Mark Zuckerberg testified before Congress about Libra; Apple Pay is now the most popular U.S. mobile payments app; Kabbage expanded its product mix to include payments; Revolut launched in Singapore; and the Economist considers whether negative press and regulatory scrutiny have doomed the Libra project.
Global regulators, including FATF and the FSB, weighed in on the risks posed by stablecoins; the U.S. government is reportedly considering creating its own cryptocurrency; EU regulators are looking into potential antitrust violations by Apple Pay; the FT brought new evidence of fraudulent accounting practices at Wirecard; Venmo will launch its first credit card; Revolut is looking to raise $1.5B in debt and equity; and digital bank Chime experienced a service disruption affecting millions.
Libra is facing scrutiny from European antitrust regulators; N26 launched in the U.S. market; Mark Carney suggested potentially replacing USD with crypto as the world’s reserve currency; Apple launched its credit card to U.S. consumers; Mastercard experienced a data breach affecting mostly German customers; and Tala raised $110M in Series D funding.