PYMNTS
MARCH 19, 2020
The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). Square Financial Services will originate commercial loans to the retailers that use Square for payments.
PYMNTS
JANUARY 10, 2019
The recent woes of Sears and other struggling retailers are seen as an opportunity for the online retail giant. that the company is visiting sites of now defunct retail spaces. For example, Whole Foods managers went to a site in Utah that used to be a Kmart. Sources told Yahoo!
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PYMNTS
DECEMBER 19, 2018
Square said it’s going to resubmit the necessary paperwork with state and federal regulators to start a bank in Utah, which could happen as soon as Wednesday (Dec. The bank will be led by Lewis Goodwin, a former executive at Green Dot, and capitalized with $56 million from Square. There won’t be any actual brick-and-mortar branches.
PYMNTS
NOVEMBER 21, 2019
The pre-seed funding was from Peak Venture Capital , which also led the new seed round, along with Album VC and strategic partner Pattern. . Route+ offers retailers an end-to-end post-purchase experience. . Using the Route App, users can visually track and protect online orders as well as resolve issues.
PYMNTS
MAY 4, 2016
The biggest individual cut will be a Utah office dedicated to lending for medical procedures, but 14 percent of Prosper’s San Francisco- and Phoenix-based workforce is also on its way out the door. According to Wall Street Journal reports, the online lender is shedding 28 percent of its staff and rearranging its executive team.
CB Insights
FEBRUARY 13, 2020
This growth has created major opportunities in the payments space, and companies like Stripe — the payments unicorn valued at a masive $35B — are hungry to capitalize on them. Stripe often states that less than 8% of total commerce occurs online, suggesting roughly $26T in global, omnichannel retail sales.
PYMNTS
JULY 14, 2020
Utah-based FuturePay has consistently appeared in PYMNTS’ top 5 alternative credit apps, with its offer of flexible monthly payments for consumers and up-front settlement for merchants. Klarna also launched its new “Klarna: Swedish for smooother shopping” campaign in June. Leveraging Risk the Right Way.
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