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SoFi-Social Capital Merger Will Fuel Growth Of One-Stop-Shop Financial Supermarket

PYMNTS

7) that it was merging with publicly-traded Social Capital in an $8.6 The SoFi deal marks at least the third such transaction done by the Social Capital SPAC, Palihapitiya said in a televised interview on CNBC, adding that the deal was driven by the fact that banking infrastructure isn't currently meeting the needs of U.S.

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Scammers Take Used Car Buyers For A Ride Amid Pandemic

PYMNTS

But scam artists are capitalizing on this new way to buy a car, reports CBS Los Angeles. Steve McFarland of the Better Business Bureau said one telltale sign of a scam is when the buyer is asked to pay in gift cards. “If

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Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

What shall we make of private fundraising rounds that make valuation leaps, tacking on billions of dollars with each new capital raise? Now: Market caps are a simple, loose shorthand for how much it would take to acquire a company (without necessarily taking into account capital structure).

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Munchery Leaves Consumers, Vendors Out $6M

PYMNTS

Meal kit service Munchery has filed for bankruptcy and still owes $3 million in unfulfilled customer gift cards and another $3 million to its vendors and suppliers. That came after it shut down service in Seattle, Los Angels, and New York. The company expanded too aggressively in its early years,” the filing states.

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Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

What shall we make of private fundraising rounds that make valuation leaps, tacking on billions of dollars with each new capital raise? Now: Market caps are a simple, loose shorthand for how much it would take to acquire a company (without necessarily taking into account capital structure).

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Bitcoin Tracker: Easy Access Is ‘Easier’ With ATMS & Gift Cards

PYMNTS

Coinsource, America’s largest bitcoin ATM provider, just announced proudly that the company now has 55 ATM kiosks, after adding six new ones in California — four in Los Angeles and two in San Francisco. What about gift cards? Turns out, former Amazon executive Gene Kavner’s already on the bitcoin gift card ball.

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Steal This 5-Step Banking Innovation Playbook from Gentle Monster

South State Correspondent

How Banks Can Leverage: While not exactly a banking innovation, banks can better allocate capital to COIs. In Los Angeles, it’s about the “Harvest” with sculptures of hay, dirt, and wood. The brand became a global hit as a result, and soon, every fashion-forward woman wanted a pair of Gentle Monster sunglasses.