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Top News in Payments: UK FCA Asks Banks To Explain High Overdraft Fees; Yandex Launches 15-Minute Grocery Delivery

PYMNTS

The FinTech, which focuses on cross-border payments, will use the funding to boost its technology portfolio and partner network. . Bank Is Doing To Drive Virtual Card Adoption. In this month’s Credit Union Tracker, PYMNTS spoke with the St. E nding the paper check chase requires full buy-in from all stakeholders.

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Mobile Payments: Adornments For the U.S., mVisa For The Unbanked In Nigeria

PYMNTS

Consultants will don a Bluetooth reader that pairs with Apple iOS or Android smartphones or tablets, to accept payment of credit and debit cards. Louis-based startup has defied the odds and raised $750,000 during a slowdown in funding for Fintech startups. Louis with 10,000 people currently using the app. Mary Kay has 3.5

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The math behind small business lending: Problems & possibilities for banks & credit unions

Abrigo

With $580 billion in private-term loans and lines of credit and $62 billion in credit cards, they accounted for 56% of the small business financing market. As a share of their total assets, community banks have more business loans below $1 million than larger banks, according to the St. Louis Fed : [S]mall-business loans—i.e.,

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Fintech Fundings: 9 Companies Raise $73 Million Week Ending Dec 31

Fintech Labs Insights

The year ends with a total of about $19 billion invested into private fintech companies (includes debt and equity). It is unlikely we’ll see that much in 2016, but the fintech sector is vast, and there are fascinating opportunities for newcomers and existing brands alike. Louis, Missouri. Source: Crunchbase. million debt).

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Fintech Fundings: 12 Companies Raise $240 million Week Ending June 25

Fintech Labs Insights

And there are few fintech success stories bigger than 2008 alum, Credit Karma , which scored $175 million this week at a reported $3.5 Total investment into the fintech sector this week were $240 million flowing to 12 firms. So far this year, fintech has attracted $7.9 Louis, Missouri. billion valuation. PromisePay.

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The $70K Dent The Financial Crisis Put In The US Consumer’s Pocketbook

PYMNTS

Adding to the fun — consumers born in the 1980s to 1990s (aka millennials) that are widely counted as the future of economy — carry the highest debt load of any generation according to the Federal Reserve Bank of St. Sixty-six percent have credit cards. Nearly 7 percent say they like and use credit cards regularly.

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Rippleshot Raises $1.2 Million in Round Led by KGC Capital

Fintech Labs Insights

The investment round was led by KGC Capital and featured participation from UMB Bank, Wintrust, and SixThirty, the fintech accelerator based out of St. Rippleshot leverages big data analytics and machine learning to detect and track down bank card data breaches. Chicago-area cybersecurity specialist Rippleshot has raised $1.2