You may remember a few months ago when PayPal launched Tap-to-Pay on Android for merchants using Venmo and Zettle. Yesterday, the fintech behemoth announced that the feature has now been added for iPhone users.
Fintech Nexus Newsletter (January 2, 2024): HSBC’s Zing to take on Wise, Revolut in foreign exchange
HSBC has announced Zing, a new retail-focused service offering inexpensive foreign exchange.
The large banks. particularly in Europe, have mainly looked on with envy as startups like Wise and Revolut have built large businesses on the back of offering cheap foreign exchange to tens of millions of retail customers.
This deal was first rumored to be happening in mid-March.
Yesterday, it became official. Private equity firm Advent International has agreed to acquire Nuvei in an all-cash deal valued at $6.3 billion.
The UK has published a number of proposals for stablecoin regulation and how to bring the digital asset into the economy.
For the second time this week, we can take time to celebrate some good news in the lending space, as Monzo reported monthly profitability for the first time.
Last week, it was BlackRock announcing their bitcoin ETF, and now we have a consortium involving Citadel Securities, Fidelity, and Schwab launching a new crypto exchange called EDX Markets.
We haven't talked about crypto for a while in this newsletter. Coinbase reported earnings yesterday so this provides a perfect opportunity to reflect on the state of crypto.
The buy-now-pay-later industry continues to grow in popularity. And part of the reason is consumers are starting to understand that most of BNPL stands outside the traditional credit scoring system.
Earnings season for financial services officially kicked off this morning, with three of the top four banks reporting earnings. Let's look at JPMorgan first. By most measures, they crushed it. The country's largest bank reported $13.42 billion in profit on $41.93 billion in revenue - that is for the first quarter folks, not a year.
Yesterday, there was a lot of talk about the Department of Justice’s anti-trust lawsuit against Apple.
Simon Taylor called it the “biggest thing in fintech since Visa/Plaid.” American Banker gave us a history of the battles between banks and Apple over the years. And TechCrunch had no less than six articles covering this development.