Category: FinTech News

FinTech News

Gemini Plans Crypto Rewards Credit Card

by Fioney StaffJan 18, 2021

With Bitcoin and cryptocurrencies once again garnering a ton of public attention, there seems to be a renewed interest in making such assets as accessible as possible. This not only includes the likes of PayPal allowing users to buy Bitcoin and other tokens but also introducing ways for customers to acquire crypto assets. On that note, the FinTech Gemini has just opened the waitlist for its planned Bitcoin rewards credit...

FinTech News

Visa and Plaid Call Off Acquisition Plans

by Fioney StaffJan 14, 2021

One of the biggest FinTech deals of the past year will no longer be going forward. This week, Visa and Plaid announced that they have mutually agreed to terminate their merger plans. Visa originally intended to pay $5.3 billion for Plaid in an acquisition that was first announced almost exactly one year ago. The death of the Visa/Plaid deal comes after the purchase drew a lawsuit from regulators. In their...

FinTech News

Walmart to Launch FinTech Firm with Ribbit Capital

by Fioney StaffJan 12, 2021

One of the nation's largest and most iconic retailers is about to enter this FinTech field. This week, Walmart announced that it would be launching a financial technology startup alongside venture capital firm Ribbit. While no details about a name or debut for the company were revealed, the goal of the off-shoot will be to "deliver tech-driven financial experiences tailored to Walmart’s customers and associates." While this development may seem...

FinTech News

Mobile Banking App Simple Announces Shut Down

by Fioney StaffJan 11, 2021

When it comes to FinTech services, the acquisition of a startup can either mean good news for customers thanks to an influx of cash and resources or it could mean deterioration of a product due to neglect. Additionally, while things may seem to be going just fine for an app on the surface, underlying issues may unexpectedly emerge. These realities are what customers of the mobile banking app Simple are...

FinTech News

Venmo Introduces "Cash a Check" Feature to Select Customers

by Fioney StaffJan 6, 2021

One of the ironies of FinTech in recent years has been that, while startups have managed to disrupt the banking and payments spaces by doing things differently, they've also found success in adopting established mediums and making them a part of their platforms. For example, the past several months have seen a rash of FinTech debit card options hit the market. Now, the popular peer to peer payment app Venmo...

FinTech News

FinTech Banking Platform Oxygen Announces $17 Million Funding Round

by Fioney StaffJan 4, 2021

After what seemed to be a fairly successful year in the world of FinTech (all things considered), new deals are already rolling in. This week, Oxygen announced that it had raised $17 million in funding. The Series A was led by Runa Capital with participation from such firms as Inventures, S7V, 1984.vc, EFG Hermes, and Rucker Park. Additionally, individual investors including Deutsche Bank's Frank Strauss, Plaid's William Hockey, Teachable's Ankur Nagpal,...

FinTech News

SEC Files Lawsuit Against Ripple

by Fioney StaffDec 22, 2020

Despite all the negativity that 2020 had to offer, cryptocurrencies have actually enjoyed a fairly successful year all things considered. Case in point: Bitcoin is currently trading for more than $23,000 after finally breaking through the much-eyed $20k mark earlier this month. However, one token may be in for a dramatic end to 2020 (and start to 2021) as Ripple is now the target of a Securities and Exchange Commission...

FinTech News

Robinhood Pays $65 Million in Settlement with SEC

by Fioney StaffDec 21, 2020

With the increasingly-popular FinTech app Robinhood allowing customers to buy and sell stocks without fees, how does the company make money? That question was at the heart of a Security and Exchange Commission complaint. As the New York Times reports, Robinhood has now agreed to pay a $65 million fine to settle charges brought by the SEC. However, in doing so, the startup did not admit to any wrongdoing. The...