In this analysis, we want to update the discussion of card networks, money movement, and the potential existential threat — or perhaps evolution — to existing infrastructure. It continues the thread on articles like Is Plaid cheap at $5.3 billion for $500 billion Visa? and Marqeta's $300MM of revenue & Ethereum's $20B in ann. transaction fees highlight opportunity and industry structure, and Who are the customers of Embedded Finance, and what do they reveal about Stripe, Affirm, DriveWealth, and Green Dot?, and more generally in this research section. We map Plaid’s progress in building out a payments ecosystem, and highlight Affirm’s debit card product powered in a novel manner through open banking. The analysis visualizes a likely evolution of the space with the introduction of Web3, and highlights a couple of early symptoms.
An ‘overwhelming’ moment: Behind BofA’s $1B racial justice commitment PNC pledges $1 billion to fight racism Eastern Bank Readying For...
Fintech platform SoFi has struck a new exclusive partnership with card issuer Mastercard to be the sole issuer for SoFi...
After a successful pilot last summer Venmo has started to roll out instant bank transfers; the service will require a Visa or Mastercard debit card and allow for transfers to be done within 30 minutes for $0.25 fee; the free version of bank transfers will remain; PayPal, who owns Venmo, hopes the instant transfers will help with revenues. Source.
Facebook is launching a WhatsApp-based digital payments service for the messaging app’s 120m Brazilian users; users will be able to...
Visa believes consumer behavior has fundamentally changed due to the current pandemic; Charlotte Hogg, EVP and CEO of Visa Europe,...
The US has lagged the rest of the world in the use of contactless payments and it has taken the...
Cambridge announced a joint research effort between the Cambridge Center for Alternative Finance and 16 private sector leaders.
Yesterday it was announced that Visa is planning to buy Plaid for $5.3 billion, double the valuation of Plaid’s 2018...
Since expanding globally in 2019 Visa has grown their Fast Track program to include more than 140 fintech companies; the...