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Teen banking app Step raises $100m

/startups

Teen banking app Step raises $100m

Step, a teenager-focused US mobile banking startup, has raised $100 million in a Series C funding round led by General Catalyst and joined by Stripe and a host of celebrities including Will Smith and Jared Leto.

Greenlight hits $2.3bn valuation on $260m funding round

/startups

Greenlight hits $2.3bn valuation on $260m funding round

Greenlight Financial Technology, the startup behind an app and debit card for kids, has hit a $2.3 billion valuation thanks to a $260 million Series D funding round led by Andreessen Horowitz.

Brex hits $7.4bn valuation on $425m funding round

/startups

Brex hits $7.4bn valuation on $425m funding round

Having closed a $425 million Series D funding round at a $7.4 billion valuation, Brex is making an aggressive play to expand beyond its core corporate credit card product with the launch of a new all-in-one finance platform.

Till raises $5m for kids' banking platform

/startups

Till raises $5m for kids' banking platform

With more than $5 million in funding in place, Till Financial has launched its collaborative family banking platform designed to help kids manage their money.

RBI takes action against AmEx for breaking Indian data storage rules

/regulation

RBI takes action against AmEx for breaking Indian data storage rules

The Reserve Bank of India has banned American Express and Diners Club from onboarding new customers in the country, accusing the firms of violating data storage rules.

HSBC to introduce recycled plastic payment cards globally

/sustainable

HSBC to introduce recycled plastic payment cards globally

As climate change activists smash the windows at its Canary Wharf HQ, HSBC is attempting to burnish its green credentials with a new programme to eliminate single-use PVC plastic payment cards in favour of recycled PVC plastic (rPVC) across all its global locations by the end of 2026.

Citi partners Mastercard to let firms send funds to consumer debit cards

/payments

Citi partners Mastercard to let firms send funds to consumer debit cards

Citi is tapping Mastercard Send to enable its corporate and public sector clients in the US to send funds directly to a consumer debit or prepaid card account.

Administrator to FIN7 hacking gang gets ten-year jail sentence

/security

Administrator to FIN7 hacking gang gets ten-year jail sentence

A Ukrainian national has been sentenced to 10 years in prison for his high-level role in the criminal work of the notorious hacking group FIN7.

Apple lets couples co-own card to build credit together

/payments

Apple lets couples co-own card to build credit together

American couples will soon be able to share an Apple Card, merging their credit lines and building credit together.

Fintech startup ekko opens waitlist for climate-friendly debit card

/sustainable

Fintech startup ekko opens waitlist for climate-friendly debit card

Capitalsing on consumer concern about climate change, fintech startup ekko has set up a waitlist for a new debit card that beds sustainability into every transaction,

Open Banking loyalty app loyalBe secures £1 million investment

/payments

Open Banking loyalty app loyalBe secures £1 million investment

Belfast-based fintech company loyalBe has secured $1m investment in an oversubscribed funding round led by Techstart Ventures with support from Co-Fund NI and angels.

How Curve got back on track after Wirecard fallout

/crime

How Curve got back on track after Wirecard fallout

In June 2020, the FCA acted overnight to freeze customer accounts across UK fintech firms including Curve, Pockit, Soldo, Anna Money and Holvi, after Wirecard Card Solution’s (WCS) parent company filed for insolvency in Germany.

Cardlay raises €8 million from venture fund run by former Mastercard exec Javier Perez

/payments

Cardlay raises €8 million from venture fund run by former Mastercard exec Javier Perez

Javier Perez, the former president of Mastercard Europe, has invested €8 million in Danish fintech Cardlay through his Global PayTech Venture fund.

Two-year old Ramp joins fintech Unicorn club

/startups

Two-year old Ramp joins fintech Unicorn club

Ramp, a corporate credit card startup founded by the team behind Paribus, a consumer finance firm acquired by Capital One in 2016, has confirmed $115M in new funding from D1 Capital Partners and Stripe, with support from Goldman Sachs, Founders Fund, Coatue Management, Thrive Capital, Redpoint Ventures, Box Group, Neo, and Contrary Capital.

Von Moos builds pay-with-your-pen product

/payments

Von Moos builds pay-with-your-pen product

Swiss fountain pen manufacturer Von Moos is to embed a contactless payment chip into its made-to-measure range of writing implements.

Nubank pumps funds into Mexican unit

/inclusion

Nubank pumps funds into Mexican unit

Brazilian digital banking powerhouse Nubank is pumping $70 million into its Mexican subsidiary and has secured another $65 million in revolving credit lines for the business from Bank of America, Goldman Sachs and JPMorgan Chase.

Mastercard releases end-user application for UK Request to Pay framework

/payments

Mastercard releases end-user application for UK Request to Pay framework

Mastercard has rolled out an end-user application for the UK's Requst to Pay framework using standards developed by Pay.UK

Contactless payments surge across Europe

/payments

Contactless payments surge across Europe

In less than a year since contactless limits increased across Europe, Visa has hit a processing milestone of one billion additional PIN-free transactions.

Indian startup Cred hits $2.2bn valuation

/startups

Indian startup Cred hits $2.2bn valuation

Cred, a fast-growing Indian startup that allows users to pay their credit card bills and gives rewards in return, has hit a $2.2 billion valuation off the back of a $215 million Series D funding round led by Falcon Edge Capital.

Revolut packs a punch with new glow-in-the-dark debit card

/payments

Revolut packs a punch with new glow-in-the-dark debit card

Revolut has launched a glow-in-the-dark debit card in partnership with two-times world heavyweight boxing champion Anthony Joshua as part of a programme to raise funds for independent boxing gyms across the UK.

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