The Week in Review

The Week in Review

Friday March 29, 2019 –

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

Bank of Beijing eyes joint venture with ING

Bank of Beijing has announced plans to establish a joint venture with ING to build a branded digital bank in China.

Introducing Apple Card, a new kind of credit card created by Apple

Apple officially announced its new credit card, a co-brand Mastercard to be issued by Goldman Sachs.

StreetShares to Launch America’s First Credit Card for Military Veteran Business Owners

StreetShares announced plans to launch a business credit card for veteran business owners.

Citigroup Enters Banking’s Hottest Business With New Payments Unit

Citi is reportedly entering the merchant acquiring business with support from Mastercard offering big merchants the ability to accept card and digital wallet payments.

Mastercard to become Mexican clearinghouse

Mastercard is expected to start payments clearinghouse operations in Q4 2019 following central bank authorization in December 2018.

Citi Releases Bank X, Report Maps Future of Banks

Citi has published a report titled ‘Bank X, The New New Bank’, highlighting how banking is being transformed by new challenger banks, launched by both new entrants and existing incumbent banks.

Hong Kong Starts Granting Licenses for Virtual Banks

The Hong Kong Monetary Authority has granted three virtual bank licenses and is in the process of issuing five more.

Flaws in Bitcoin make a lasting revival unlikely

Bitcoin appears to have three fundamental challenges: lack of genuine activity, scalability, and fraud.

Remitly taps Visa to let users send cross-border payments to debit cards

Remitly has teamed up with Visa to let Americans send funds to debit cards internationally in real time.

PayIt, a payments platform designed for public services, raises $100M+ from Insight Partners

PayIt raises $100+ million from Insight Partners to fund its expansion both domestically and internationally.

T-Mobile enters mPOS market

T-Mobile is partnering with TSYS and entering the merchant acquiring business with GoPoint, a new mobile Point of Sale (mPOS) device.