We have been following the recent developments in real-time payments with some interest. While adoption is increasing it is not going as fast as many industry observers had hoped.
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 Fed came back with a plan yesterday to debit card fees for merchants. Will it be too much for banks to handle?
So far this year we have seen so many negative stories about banking as a service. You could be forgiven that BaaS is dying a slow and painful death.
The long-awaited new overdrafts rule from the CFPB was unveiled today.
Since Rohit Chopra took over as head of the CFPB in 2021, they have made it clear that they were going after overdraft fees and this proposed rule is the culmination of those efforts.
Today, Visa announced a new suite of payments capabilities called Visa Commercial Pay. This is a suite of B2B payments tools targeted at corporations.
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.
We are almost one year removed from the banking crisis precipitated by the struggles at Silicon Valley Bank.
Now, another bank is having its own struggles. New York Community Bank (NYCB) has announced a new CEO and discovered "material weaknesses" in some of its internal procedures.
We learned a couple of weeks back that the former head of Marcus, Swati Bhatia, had taken a job at Santander to lead U.S. consumer and business banking.
Yesterday, we learned more details about what this new job is going to entail.
There is never a dull moment in the Banking-as-a-Service space. Treasury Prime is the latest company to make news in the space.