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Mastercard Commits $500M To Boost Black Communities, Businesses

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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. We can and must do better.

Community 282
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Payroll Cards Find Opportunity In Corporates’ Digitization Push

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With the pandemic nudging businesses further into the digital payments realm, commercial card innovation is heating up to capitalize on the opportunity for adoption. Boost Bolsters BMO Harris Bank’s Biz Cards. ” Mastercard, EedenBull Expand Into APAC. Global Cash Card’s Legal Saga Ends.

Cards 208
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MoneyLion Launches Advanced Mobile Banking

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MoneyLion , the New York-based mobile bank, announced the launch of RoarMoneySM, a demand deposit account powered by MetaBank N.A. with Mastercard as its exclusive card network. RoarMoney promises faster access to customer funds and secure contactless payment options.

Mobile 175
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NY Regulator Looks To Interest Rate Caps For FIs And FinTech Firms

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In one case at the state level (and it’s New York, so movement there carries much weight within the financial arena), Bloomberg reported that NY’s financial regulator is challenging what the newswire terms a “fundamental principle” on bank and FinTech relationships that brings interest rate caps into that regulator’s crosshairs.

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Deep Dive: Pandemic Boosts Demand For In-Store And eCommerce BNPL Options

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are seeking payment methods that can help them flexibly manage necessary expenses, and the BNPL industry is poised for growth in other markets as well. Splitit also allows users to make payments from their credit card accounts and partnered with card services providers such as Mastercard and Visa to expand its reach.

Retail 146
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China’s Amazing Cashless Conversion

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Paper money — The New York Times writer Paul Mozer recently noted in a column — is seemingly dying a swift and unceremonious death in the Chinese market, as just about everyone seems to be using their smartphone to pay for just about everything. Lending, credit insurance, savings — all these things we are doing.

Apple 137
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This Week In Payments: New Frontiers — Visa And Plaid; Goldman And Marcus; And Big Doings ‘Bout SMB Payments

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With Retail’s Big Show in New York, earnings season kicking off and banks reporting on the State of the State 2019, there was no shortage of headlines this week. I think, if you look at what Visa and Mastercard have been doing in the last three years, they are really moving beyond cards and traditional merchant transactions.

Payments 130