Friday June 29, 2018 –
Here are the new and noteworthy stories we have been following this week.
Wells Fargo and American Express Introduce New Propel Card With Triple Points and $0 Annual Fee1
Wells Fargo makes renewed commitment to credit cards with enhanced rewards package for new Propel card.
Ant Financial’s Hong Kong venture launches blockchain-based remittance service
AlipayHK launches real-time transfers of cash between individuals in Hong Kong and the Philippines.
Supreme Court backs American Express in credit card fee case
The Supreme Court said Amex rules regarding its services for merchants don’t violate federal antitrust law.
Venmo officially launches its own MasterCard-branded debit card
Venmo launches its own debit card allowing for e-commerce and POS payments.
SWIFT extends gpi to all cross border payments
SWIFT moves to universal adoption of gpi for all its 10,000 member banks.
American Express has a deal with Amazon for card aimed at small businesses
Amex wins new co-brand card deal and launches small business credit card with Amazon.
Deutsche Bank Fails ‘Stress Test’ as Goldman, Morgan Stanley Face Curbs
Deutsche Bank’s US subsidiary fails Fed’s stress test.
JPMorgan Chase takes smartphone account ‘Finn’ nationwide
Chase launches its digital bank account across the country.
Visa, Mastercard Are Close to Swipe-Fee Agreement
Visa, Mastercard and a set of banks are close to a $6.5 billion settlement with merchants over an interchange fee lawsuit.
PayPal Checkout can now be personalized to each shopper
PayPal is introducing new checkout technology for e-commerce sites that will dynamically present the most relevant payment method for each customer, including local payment options.
Union Square Ventures is investing in crypto for the long haul, but won’t start a dedicated fund
Union Square Ventures is making a long-term bet on cryptocurrencies.