Category: FinTech News
FinTech News
Brex Pivots Away From Small Business Customers, Toward Startups
by Fioney Staff
A FinTech on the rise has announced a major shakeup that will see them actively repelling many current customers. Last week, Brex revealed that it was moving away from serving general small businesses and would instead refocus its platform to serve startups — specifically those who have already received venture capital or other funding. The company has already been sending emails to affected customers, informing them that their accounts will... FinTech News
FinTech App Paydownhero Announces Upcoming Gas Rewards Debit Card
by Fioney Staff
A FinTech app that aims to help drivers pay down their car loan balances by rounding up their everyday purchases is set to expand into the world of debit cards. This week, Paydownhero announced plans for their Paydown Rewards Card. Using this option, customers will not only earn rewards at the pump but will also receive boosts on their roundups, allowing them to pay off their cars even faster. The... FinTech News
Abra Announces Crypto Card to Operate on American Express Network
by Fioney Staff
Despite a recent rash of bad news, crypto-centric startups are continuing to press forward. Among them, the trading platform Abra just announced plans to launch a crypto rewards credit card. What's more, in a twist from other offerings, this product will be an American Express card. According to Abra, their upcoming card will earn crypto back on any purchase category. These crypto rewards will then be tradable, allowing users to... FinTech News
PayPal Adds Support for External Cryptocurrency Wallet Transfers
by Fioney Staff
Back in October 2020, PayPal made headlines by adding cryptocurrency trading to its immensely popular platform. Then, in March of last year, the company expanded its efforts by introducing Checkout with Crypto — a feature that allowed PayPal users to easily pay for purchases using supported crypto assets. Now, the service is doubling down once again, adding the ability for customers to send and receive coins using external wallets. In... FinTech News
Apple Officially Announces "Apple Pay Later" BNPL Service
by Fioney Staff
Apple may not be a traditional FinTech, but once again it's about to expand its financial technology bonafides. After previously launching its own mobile wallet, credit card, and more, the company is now set to enter the "Buy Now, Pay Later" (BNPL) market. At this year's Worldwide Developer's Conference, Apple unveiled its upcoming feature Apple Pay Later. Like many other BNPL options, Apple Pay Later will allow customers to make... FinTech News
Gemini Founders Declare "Crypto Winter," Announce Staff Downsizing
by Fioney Staff
Recent weeks have not been kind to the cryptocurrency market. With Bitcoin trading at around $30,000 per coin, its value is about half of record highs. Similarly, prices for other assets have tumbled as well. In turn, several companies in the crypto space have reported lower earnings. Now, Gemini founders Cameron and Tyler Winklevoss have announced staff layoffs amid what they're called a "crypto winter." In a blog post, the... FinTech News
Viola Credit Closes $700 Million Fund That Will Lend to FinTech Startups
by Fioney Staff
A global alternative credit asset manage firm just raised a lot of money in hopes of partnering with financial startups. Viola Credit announced the closing of a $700 million fund. The fund — known as Viola Credit Alternative Lending Income Fund II — will focus on offering asset-based lending capital solutions to FinTechs, including those in the PropTech (property tech) and Insurtech spaces. Specifically, Viola plans to partner with startups in...