A week ago when Citi, the country's third largest lender, announced a $150 million partnership with online peer-to-peer platform Lending Club, Lending Club founder and CEO Renaud Laplanche described the partnership as symbiotic.
Citi, the country's third largest bank, and Lending Club, the first online peer-to-peer lender to have an IPO, announced a $150 million partnership, creating an alliance that is both professional and symbolic.
The mobile payments space is reportedly set to become a bit more crowded. CurrentC, the platform backed by a consortium of large retailers known as the Merchant Customer Exchange, is slated to be launched later this year, and recent rumors indicate that Microsoft might be planning to enter the game as well.
UBS and BNY Mellon are two of the latest large banks to publicly reveal that they are exploring the technology behind bitcoin, the distributed digital currency that is both lauded and criticized in the press, sometimes on the same day. Despite mixed reviews, the number of financial technology companies that support bitcoin, whether through bitcoin mining, digital wallet solutions or other technologies, has been increasing. There are growing signs that Wall Street is taking notice.
U.K.-based Learning Enterprises Organization (LEO) launched a digital currency last week that the company claims already has 100,000 users, making it the second most widely used cryptocurrency after bitcoin. The currency is traded on its own Hong Kong-based exchange and recognized on other exchanges as well.
Online consumer loan platform AvantCredit has acquired ReadyForZero.com, a provider of online tools and dashboards geared toward helping consumers pay down their debts. Along with the acquisition, the company is rebranding itself Avant to reflect a wider array of financial products and services that the company will offer.
Mobile banking is on the rise, with signs that certain segments of mobile users are becoming "mobivores," or mobile-only users, according to a recent Fiserv white paper. The white paper...
Startup online merchant payment processor PayStand, which last year launched an online platform that allows merchants to accept alternative forms of payments alongside credit cards, has expanded into the point of sale space. Its new mobile point-of-sale payments processor, allows merchants to accept credit cards, checks, or digital currency like bitcoin-- all from an iOS mobile device.
In India, where mobile phone usage is exploding, mutual fund companies are launching a variety of innovative method for reaching and engaging potentials customers including WhatsApp, Facebook and other chat and social media services.
Square, the company that made it easy for any small business to process credit card payments with its mini-card reader, is trying to help make it just as easy for businesses to accept cash. Although Square has been processing email-based peer-to-peer cash payments for individuals since 2013, its newest iteration of peer-to-peer cash payments is specifically designed for businesses.