The Week in Review

The Week in Review

Friday February 22, 2019 –

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

GoCardless raises $75 million for international expansion

GoCardless, a UK company which helps businesses collect recurring payments online, has secured $75 million to support its international expansion.

Adyen launches open banking-powered payment method

Adyen is introducing a new bank transfer based payment method in the UK with KLM as its launch customer.

Use of Interac e-Transfer® service surges in 2018

The Interac e-Transfer service is seeing record volume with 371 million transactions valued at C$132 billion in 2018, up about 50% from 2017.

Mexico pushes mobile payments to help unbanked consumers ditch cash

Mexico is planning a digital payments system, CoDi that will allow Mexicans to make and receive payments through their smartphones free of charge.

Payments Canada Selects SIA As the Application Provider for Canada’s New High-Value Payments System, Lynx

Payments Canada has selected SIA to build its new high-value payments system, Lynx and to support the next version of their RTGS application solution.

Green Dot Reports Fourth Quarter 2018 Results

Green Dot reported total operating revenues of $238 million in Q4 up 12% from Q4 2017 driven in part by the bank’s products and platform model.

The NJ Legislature and the Philadelphia City Council have passed measures this year to ban cashless stores; New York City, Washington, San Francisco and Chicago are weighing similar bills.

Apple, Goldman Sachs Team Up on Credit Card Paired With iPhone

Apple and Goldman Sachs are working on a co-branded Mastercard credit card program slated for launch later in 2019.

HSBC takes on Alipay, WeChat Pay with new PayMe service for Hong Kong businesses

HSBC is conducting a beta test of its PayMe System for businesses, with 15 retailers in Hong Kong that are now able to accept payments from customers using the e-wallet app.

Fintechs help boost US personal loan surge to a record $138 billion

Total outstanding U.S. consumer loans reached a record last year, driven by digital-first lending options with fintech companies now making up 38% of the market.

Banks Crushed Profit Record With $237 Billion in 2018, FDIC Says

The US Banking industry generated $237 billion in annual net income driven by strong revenue growth and supported by the tax cuts.

Court Announces $5.54-6.24 Billion Settlement Providing Payments to Merchants who Accepted Visa or Mastercard since 2004

The U.S. District Court for the Eastern District of New York announces a settlement in the latest class action lawsuit related to Visa / Mastercard and merchants.–300800177.html