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Mastercard Commits $500M To Boost Black Communities, Businesses

PYMNTS

Mastercard said it will invest $500 million in Black communities across the U.S. The new initiative will include “concentrated investments that will focus on providing Black-owned businesses and Black people access to affordable financial tools and capital,” Mastercard said in a news release. Louis and Dayton, Ohio.

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Gonzo Notes from Money20/20

Gonzobanker

Bankers had long suspected MCX’s plan was to bypass the Visa/MasterCard rails by processing transactions as ACH. Brian Mooney, CEO of Merchant Customer Exchange (MCX), also used his stage time to talk about the pilot under way in Columbus, Ohio, with many merchants. Innovation we saw that we’re all not talking about enough: lending.

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Last Call for FinovateSpring 2015 Tickets

Fintech Labs Insights

Alten Capital. Baird Capital Partners. Capital One. Capital Source. Crosslink Capital. Foundation Capital. Lending Club. MasterCard. Metropolitan Capital. Ohio Valley Bank. Quantum Capital. Sorenson Capital. Alliant Credit Union. Altpoint Ventures. American Express.