The Week in Review

The Week in Review

Friday June 22, 2018 –

Here are the new and noteworthy stories we have been following this week.

Rise of contactless payment means cash is no longer king

Debit card payments, driven by contactless overtake cash in the UK.

Square obtains NY State cryptocurrency license

Square has obtained a license to offer New York state residents the ability to buy and sell bitcoin through its Cash App.

Are you ready to ditch your bank? SoFI is betting its future on it

SoFi lauches mobile bank account and debit card.

Brex picks up $57M to build an easy credit card for startups

New non-bank issuer Brex launches credit card program for startups.

PayPal Agrees to Buy Payments Firm Hyperwallet for $400 Million

PayPal to acquire Hyperwallet to augment its payments offerings to individual and small businesses that sell on digital marketplaces.

Microsoft acquires Bonsai to help with its artificial intelligence push

Microsoft acquired Bonsai, a small AI startup.

Biggest Banks Pass Fed’s Stress Tests

All of the big US banks passed the first phase of the Fed’s annual stress tests.

PayPal to acquire fraud prevention company Simility for $120 million

PayPal to acquire machine-learning based fraud management company Simility to beter support online merchants.

ING and BNP Paribas invest in blockchain-powered trade platform TradeIX

ING and BNP Paribas invest $16 million in blockchain-based trade finance company, TradeIX.

Capital One Co-Founder Is Making a Bet on Risky Borrowers

Nigel Morris joins Board and increases investment in LendUp.