Cardless Swipes up $30M to Build a New Generation of co-branded Credit Cards

?? NEWS HIGHLIGHT

• MoneyLion Announces Successful Completion of Senior Debt Refinancing.

MoneyLion Inc., a digital ecosystem for consumer finance that empowers everyone to make their best financial decisions, announced that it has successfully closed a $70 million loan facility with Silicon Valley Bank, a division of First-Citizens Bank & Trust Company (“SVB”), to refinance MoneyLion’s existing senior debt and lower its cost of capital.

Although MoneyLion’s existing senior debt was not set to mature until 2026, the Company’s strong financial standing created an opportunity to secure refinancing on substantially improved terms through a premier banking partner.

Read more

NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS

???? NATIONAL HIGHLIGHTS

?? Cardless swipes up $30M to build a new generation of co-branded credit cards.

?? US Bank Names Payment Services CFO Kristy Carstensen to Lead Global Treasury Management.

?? Cardlytics launches new Insights Portal, giving marketers flexible access to customer spending trends.

?? OpenTrade raises $4M to build future of real world asset-backed lending.

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FINTECH

Betterment expands charitable giving with donor-advised funds from Daffy. Betterment’s 900,000+ customers can now donate shares to Daffy directly from taxable accounts. Funds grow tax-free, enabling donations to nearly any U.S. charity via Daffy’s app or web.

European climate tech poster child Northvolt is filing for Chapter 11 bankruptcy in the US after months of trying to secure fresh capital from investors. Northvolt will undergo a reconstruction process, set to conclude in Q1 2025. Read more

PAYMENTS

Collections vs Payouts: Risks of using a single provider for both, by PayQuicker. In the complex world of business finance, understanding the nuances between collections, or pay-in, and payouts is crucial for maintaining healthy cash flow. Dive deeper into the topic by reading the full article

Apple Card has expanded its Daily Cash scheme to include two new partners. Apple Card customers can now get 3% Daily Cash back when they book prepaid car rentals or holidays stays with Booking.com, or charge their vehicle at qualifying ChargePoint stations.

Apple will now be treated like a Bank, says US Consumer Financial Protection Bureau, finalizing a proposal from last year with several changes. The popularity of Apple Pay will now see the Cupertino company regulated by the US CFPB, a watchdog whose role is normally limited to banks and financial services companies. Discover more

CFPB expands oversight of digital payments services including Apple Pay, Cash App, PayPal and Zelle. The CFPB announced it will soon supervise nonbank firms, including tech giants and payments companies with 50 million+ transactions annually. The new rule ensures these firms follow the same regulations as banks and credit unions.

Mastercard’s Multi-Token Network (MTN) connects to J.P. Morgan’s Kinexys Digital Payments for settlement. This collaboration enables mutual MTN and Kinexys customers to streamline B2B transactions via a single API integration. Continue reading

Shift4 has been named the payments partner for Barclays Center, handling ticketing, food, beverage, and retail transactions. The partnership aims to enhance the customer experience at one of Brooklyn's top sports and entertainment venues. Read on

DIGITAL BANKING

GTreasury, PNC Bank introduce embedded banking integration through PINACLE? Connect. Through this expanded partnership, GTreasury and PNC Bank now offer shared clients access to PNC's treasury services directly within the GTreasury platform.

Revolut reveals 2025 vision, with AI Assistant, mortgages, and ATMs on the horizon. At the Revolutionaries event in London, Revolut celebrated ???? ?????????????? customers and revealed BIG plans for 2025. Read on to learn about what’s next for Revolut.

10x Banking integrates Alloy’s identity and fraud prevention tools. This integration combines 10x's meta-core platform with Alloy's identity risk management solutions. The partnership with 10x Banking underscores Alloy’s commitment to helping financial institutions in the UK and beyond fight fraud.

CRYPTO

The US stablecoin startup fueling a $3 billion boom in Africa. Cryptocurrencies pegged to the dollar are becoming a vital solution for businesses grappling with currency shortages in Africa. Read the full article to discover how stablecoins are enabling companies to bypass local currency challenges and thrive in a volatile market.

Coinbase wallet introduces rewards program for USDC holders. Rewards will be paid out monthly, directly into user wallets. This feature is available in most regions worldwide, and is being offered to American users this week. Read on

Bitcoin slides toward $90,000 as ETFs end a positive streak. The price of Bitcoin retreated further from the psychologically significant $100,000 milestone, as investors took profits following its post-U.S. election gains. Continue reading

PARTNERSHIPS

Stripe becomes Nacha’s preferred partner. Nacha, which operates the US ACH network, has named Stripe as its new Preferred Partner for ACH Experience. The ACH network facilitates electronic funds transfers (EFT), and this partnership aligns with Nacha's goal to expand the network's reach.

FinTech New Silver inks deal with Fortress for real estate loans. The investment firm will support New Silver's expansion into short-term real estate transition loans, such as fix-and-flip and construction loans, through a forward-flow agreement where loans are purchased before origination.

Tassat partners Veuu for DLT-based health insurance payments. Tassat provides a private blockchain solution for instant payments between bank clients using tokenized deposits. It has now partnered with Veuu, an AI-driven startup focused on streamlining healthcare insurance claims processing and payments. More here

DONEDEAL

Stripe is once again buying back shares, valuing the company at approximately $???? ?????????????? According to documents seen by Bloomberg, the share price is set at $27.51, reflecting the same valuation Stripe reached in a previous share sale earlier this year.

M&As

Moody’s expands lending tech suite with acquisition of Numerated Growth Technologies. The transaction will integrate Numerated’s loan origination technology into Moody’s lending suite, enhancing its front office, credit assessment, and underwriting tools for financial institutions.