Friday June 7, 2019 –
Here are the new and noteworthy stories we have been following this week.
China’s UnionPay joins Europe credit card battle
China UnionPay is to start offering debit and credit cards in Europe (via banks and fintech companies) supported by Tribe Payments, a new UK-based back-office technology start-up.
https://www.ft.com/content/c88f36e0-83c2-11e9-9935-ad75bb96c849
Firms collaborate on new platform ‒ b.yond
A consortium of companies in collaboration with Visa have launched b.yond, a financial innovation platform that will let banks and consumer-facing businesses rapidly deploy a range of innovative fintech payment services.
https://www.bankingtech.com/2019/06/firms-collaborate-on-new-platform-b-yond/
Velocity Capital Announces €105M Global FinTech Venture Fund
Velocity Capital is launching a €105 million FinTech Ventures Fund dedicated to backing early stage FinTech companies that advance how people, businesses, and financial institutions grow economic opportunity.
Mastercard rolls out Open Banking suite
Mastercard has unveiled a suite of open banking applications and services designed to help financial institutions and third party providers leverage PSD2.
https://www.finextra.com/newsarticle/33929/mastercard-rolls-out-open-banking-suite
Biz2Credit Raises $52M in Series B Funding
Online small business digital lender Biz2Credit has raised $52 million in a Series B round led by WestBridge Capital.
http://www.finsmes.com/2019/06/biz2credit-raises-52m-in-series-b-funding.html
JPMorgan Scraps New App Service for Young People
JPMorgan Chase is shutting down Finn, the app only digital bank it launched about a year ago.
EMVCo Publishes EMV® Secure Remote Commerce (SRC) Specification v1.0 and Payment Icon
EMVCo has released Secure Remote Commerce specifications and a new payment icon to streamline the processing of card-based e-commerce transactions across a variety of channels and devices.
file:///C:/Users/User/Downloads/SRC-v1.0-and-Mark-Announcement-FINAL-for-dispatch.pdf
Step raises $22.5M led by Stripe to build no-fee banking services for teens
Step, a startup building a banking service targeted at teens has raised $22.5 million led by Stripe.
Softbank in talks to invest in Brazilian fintech Nubank
Softbank is reportedly in discussions to invest upto $1 billion in Nubank.
Consumer Credit in U.S. Rises in April by Most in Five Months
U.S. consumer credit increased by the most in five months in April growing $17.5 billion from the previous month to $4.07 trillion.
