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Marcel van Oost - FinTech News USA
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?? NEWS HIGHLIGHT
Greenlight? Financial Technology, Inc. , the fintech company on a mission to help parents raise financially-smart kids, announced a collaboration with Google to connect with the Fitbit Ace LTE, a first-of-its-kind smartwatch that helps kids lead active, independent lives while giving parents peace of mind. Starting today, Greenlight’s debit card can be seamlessly added to the Google Fitbit Ace LTE so kids can learn to spend wisely and safely tap to pay on the go with their smartwatch.
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NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
???? NATIONAL HIGHLIGHTS
?? J.P. Morgan Payments and PopID to Expand Biometric Offerings .
?? Informa makes ￡1.2bn swoop for fellow listed rival Ascential .
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FINTECH
Klarna argues for a bespoke regulatory framework, while AARP supports the rule, emphasizing the need for consumer protections as buy now, pay later (BNPL) usage grows among older Americans .
Chase and DoorDash announce expansion of partnership to include new grocery benefits for Chase Sapphire and other consumer branded cards. From now on, Chase Sapphire and other eligible Chase cardmembers will receive recurring benefits on orders from over 150,000 grocery, convenience and non-restaurant stores on DoorDash.
Wall Street expects Robinhood's revenue to hit record highs in the second quarter as retail investors flock to its commission-free app to trade so-called 'meme stocks' and cryptocurrencies. The return of influencer Keith Gill, aka "Roaring Kitty", rekindled investor appetite for retail favorites like GameStop, luring mom-and-pop investors back to Robinhood.
PAYMENTS
It’s the Network, Not the Rail': Ingo Payments CEO Drew Edwards Reflects on FedNow’s First Year and sat down with PYMNTS CEO Karen Webster to touch base on the state of FedNow.
OPEN BANKING
Plaid officially announces open finance solution for US data providers. Plaid’s open finance solution is designed to meet the industry's need for API connectivity and more visibility into consumer connections while simplifying compliance for data providers.?
LenderLogix integrates income, employment verification services from Truv into LiteSpeed mortgage point-of-sale. Lenders can now use Truv's consumer-permissioned data platform through LenderLogix's POS LiteSpeed for direct income and employment verification of mortgage applicants.
DIGITAL BANKING
A new cross-border payments infrastructure will enable remittances between the US and Mexico via 140 community banks in rural areas. The new corridor is being developed by the Interledger Foundation , an organisation dedicated to the creation of an open, interoperable payment network and the People’s Clearinghouse, which works with community banks and credit unions in Mexico.
JPMorgan Chase is considering taking legal action against the Consumer Financial Protection Bureau (CFPB) over an ongoing probe into the abuse of Zelle payments by scammers . In its recently released financial statements, JPMorgan notes the ongoing inquiries by the CFPB into the issues raised.
Marqeta signs five-year deal with Varo Bank to become exclusive issuer processor in the US. This partnership with Marqeta enables Varo to offer cutting-edge card issuing technology , giving their customers enhanced ability to view and manage their transactions efficiently.
CRYPTO
Tokenization platform OpenEden has announced that it will bring tokenized US Treasury bills (T-bills), a short-term US government debt obligation backed by the US Department of the Treasury, to the XRP Ledger (XRPL) and its users for the first time.
DONEDEAL
FranShares has raised $4.2 million in seed funding led by Chicago Ventures to grow its business. FranShares is a Chicago-based startup that wants to offer investors another form of passive income: the chance to invest in franchises for as little as $500.
Bilt Rewards, the loyalty program for the home and neighborhood, announced it has raised an additional $150 million in funding. The company continues to scale its resident loyalty program, now partnering with seven of the 10 largest multifamily owners in the country.
M&As
Salesforce to acquire PoS startup PredictSpring. Customer relationship management (CRM) software provider Salesforce has signed a definitive agreement to acquire cloud-based point-of-sale (PoS) software vendor PredictSpring to augment its existing Customer 360 capabilities in an attempt to get a stronger hold in the retail industry.
NCR Voyix enters definitive agreement to sell digital banking to Veritas Capital for $2.45 billion purchase price. The transaction has been approved by NCR Voyix’s Board of Directors and is expected to close by year-end , subject to customary closing conditions, including regulatory approvals.