Fed to review debit card fee cap next week
Payments Dive
OCTOBER 20, 2023
The Fed hasn’t changed a debit card fee cap since it was put in place in 2011, but it's planning to take up the issue at a meeting next week.
2011 Related Topics 
Gan Kim Yong to Take Over as MAS Chairman From Lawrence Wong
Fintech News
MAY 13, 2024
Wong’s tenure with MAS includes his time as Deputy Chairman from 1 June 2021 to 7 July 2023 and as a Board member from 10 June 2011 to 29 August 2016. Wong has held the Chairman position since 8 July 2023 and will step down from his roles as Chairman and Board member on 15 May 2024.
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The Data is Clear: The Durbin-Marshall Credit Card Bill Will Harm Small Businesses
Electronic Payments Coalition
FEBRUARY 7, 2024
Since Congress introduced price caps and routing mandates on debit cards in 2011, research from independent and government sources has illuminated their disproportionate negative impact on small businesses.
Small Business 116
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Visa positions itself at the center of a contactless renaissance
Payments Source
OCTOBER 25, 2018
most banks and retailers seemed to have given up on contactless cards with the 2011 demise of the much-publicized Chase Blink brand. In the U.S., But the payment format is making a strong comeback in 2018.
Payments 87
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NETS Bolsters Board with Cybersecurity Expert John Yong
Fintech News
FEBRUARY 20, 2024
His earlier roles also include leading the Cyber Security Group at the Infocomm Development Authority of Singapore, now known as GovTech, from 2011 to 2015, as well as key positions in IT security at the National Computer Board. Susan Hwee Susan Hwee, NETS Chairman commented, “We are delighted to welcome Mr Yong to our Board.
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Bitstamp gains EU licence to offer regulated crypto derivatives
The Paypers
OCTOBER 28, 2024
Bitstamp , a cryptocurrency exchange established in 2011, has received a MiFID Multilateral Trading Facility (MTF) licence.
Regulations 69
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Re-Examining The Role Of Correspondent Banking
PYMNTS
SEPTEMBER 1, 2020
The Bank for International Settlements (BIS) said in a recent report that the number of correspondent banks — where banks and financial institutions (and domestic payment systems) are linked together — slipped 3 percent in 2019 vs. 2018 and declined a significant 22 percent from 2011 to 2019.
Reserve Bank of India Says It’s Exploring Possibility Of Digital Rupee
PYMNTS
JANUARY 25, 2021
percent increase in volume and value, respectively, since 2011. If the RBI develops a digital currency, it could easily help further development in crypto, with the RBI reporting strong growth in digital payments in the country. According to Cointelegraph there has been a 12.5 percent and 4.5
Digital Currency 127
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What do a YouTube video and Operational Intelligence have in common?
Axway
APRIL 19, 2019
In 2011, DoSomething.org, a non-profit organization, posted a video on YouTube featuring celebrities asking young people to donate used sports equipment to youth in need. That video was viewed by 1.5 million people. Success, you might think? Well, only eight …
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Mnuchin Now Says All PPP Loan Recipients Will Face Audits
PYMNTS
APRIL 29, 2020
The WSJ reported a 2011 audit of SBA lending found the agency’s inspector general discovered documentation deficiencies in 40 percent of the loans it reviewed resulting in “inappropriate or unsupported loan approvals.”. Verifying how SBA loans have been used in the past has posed problems for the agency.
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24 Big European Banks Take On Visa, Mastercard With Their Own Payment System
PYMNTS
JULY 1, 2020
In 2011, PYMNTS reported on the Monnet Project , where two dozen European banks from seven countries considered starting a new European card system. This is not the first time that European banks have tried such a model.
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TerraPay Appoints Ralph Koker as Global Head of Products
Fintech News
SEPTEMBER 3, 2024
He later moved to Visa in Singapore in 2011 and eventually led Visa Latin America’s digital product and money movement initiatives from Miami in 2017. Koker’s career includes key roles in Asia Pacific and Latin America, starting with FIS, where he worked in Manila, Hong Kong, and Bangkok.
Product 104
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M-DAQ Acquires Malaysian B2B Payments Provider to Expand ASEAN Presence
Fintech News
JULY 30, 2024
Easy Pay Transfers, operating under Malaysia’s Money Services Business Act 2011, offers businesses transparent online payment services. This latest acquisition aims to enhance M-DAQ Global’s capabilities in local payments and deepen its expertise in foreign exchange across the ASEAN region.
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Postmates, Adyen team up for payments processing
Payments Source
JULY 18, 2019
Postmates, which relied solely on Stripe Connect for accepting customer payments for its on-demand delivery service launched in 2011, is adding Adyen as another partner for payments processing.
Process 70
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Temasek Furthers European Expansion with New Paris Office
Fintech News
APRIL 10, 2024
Temasek’s investment in the EMEA region has seen a significant increase, with the company’s exposure growing nearly fivefold since 2011, reaching S$47 billion (€32 billion), which accounts for 12% of its portfolio as of 31 March 2023.
Economy 108
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Report: Digital Lender SoFi Eyes IPO Via SPAC
PYMNTS
DECEMBER 7, 2020
The company was founded in 2011 and has worked to capitalize on banks' reduced focus on lending after the late 2000s financial crisis, working on refinancing student loans early on and has since also worked on mortgages and personal loans, according to Reuters. SoFi was valued at $4.8
Mobile Banking Firm Chime Gets $14.5B Valuation With New Funding
PYMNTS
SEPTEMBER 18, 2020
percent through Q3 2019 and was on pace to be the second-best year following 2011, according to a January report. “If it’s an obviously top 10 percent company, there’s just a huge amount of money being thrown at them by the VC world.". The Prime Unicorn Index increased 58.4
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Goldman Sachs Forecasts Acceleration In eCommerce Sales
PYMNTS
JULY 22, 2020
In addition, a JLL executive noted in the report that industrial rent growth has been positive as of 2011. In addition, JLL forecasted that the U.S. will require a further 100 million square feet of cold storage space within the few years to come.
APACS 104
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Fixing Some Of The Big Problems In Payments And Commerce
PYMNTS
MAY 15, 2019
trillion: Projected annual business travel spend by 2011. trillion: Net amount U.S. firms are owed in accounts receivable on any given day. percent: Firms that regularly use immediate payment services.
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Mambu’s Valuation Hits $2 Billion After TCV-Led Investment Round
PYMNTS
JANUARY 7, 2021
When Mambu launched in 2011, we knew the future of banking would have to be built on agile and flexible technology,” Eugene Danilkis , co-founder and CEO of Mambu, said in a press release. Nearly a decade later, this is more true now than ever, particularly given developments over the past year.”.
Payroll 102
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Angela Toy Assumes COO Position at Golden Gate Ventures
Fintech News
MARCH 27, 2024
Since joining as the second employee in 2011, Toy has been instrumental in the firm’s development, culminating in her promotion to partner in mid-2021. Her appointment as COO marks a continuation of her leadership journey, now with a broader mandate to oversee operational excellence and support the firm’s strategic expansion efforts.
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Ahead Of IPO, Fintech nCino Positions Itself As The Preeminent Cloud-Based OS For Banks
CB Insights
JULY 1, 2020
Founded in 2011, nCino aims to help financial institutions digitize operations and automate workflows, providing a digital operating system for banks and credit unions. North Carolina-based nCino , a cloud-based banking software company, is going public. Want the full post? Become a CB Insights customer.
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Santander FinTech PagoFX To Compete With TransferWise
PYMNTS
APRIL 16, 2020
Launched in 2011, Transferwise is Europe’s most valuable FinTech and is known for charging much lower rates than mainstream banks or specialty money transfer services. Menager said PagoFX was “inspired by” One Pay, which the bank ultimately decided against using for its open-market business.
FinTech 98
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Qu’est-ce qu’un État-plateforme ?
Axway
OCTOBER 3, 2023
Le concept d’État-plateforme a été inventé en 2011 par Tim O’Reilly, un entrepreneur et éditeur américain spécialisé dans le numérique. Il a été repris et développé en France par Nicolas Colin et Henri Verdier, deux entrepreneurs du numérique français, dans …
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Retail Expansions In Social Commerce And D2C Business Models
PYMNTS
JUNE 25, 2020
Data: 2011: The year Newegg launched a marketplace model where other sellers accessed its eCommerce platform. And Newegg is mastering the art of the pivot , having piloted a unique business model with a platform that directly connects suppliers and consumers. All this, Today in Data. 186B: Amount of social commerce sales in China in 2019.
Consumer 69
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Payday Lending: An Unnecessary Burden on Military Service Members
The Fintech Times
FEBRUARY 1, 2024
I saw the effects of payday lending first hand when I was in the Army from 2006 to 2011. For decades, these entities have locked service members into predatory lending arrangements, wreaking havoc on their credit scores, and personal and professional lives.
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Identity Verification Solutions Provider Data Zoo Raises $22.7 Million in Series A Funding
Finovate
MAY 15, 2024
Headquartered in Sydney, New South Wales, Australia, Data Zoo was founded in 2011. Founded in 2011, Data Zoo is headquartered in Sydney, New South Wales, Australia. Data Zoo will use the capital to help foster broader adoption of its identity verification technology. Charlie Minutella is CEO.
Verification 64
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GoCardless Works With Federation of Small Businesses to Help Its Members Tackle Late Payments
Fintech Finance
JUNE 18, 2024
Founded in 2011, the global fintech now processes more than US$35 billion of payments each year. The post GoCardless Works With Federation of Small Businesses to Help Its Members Tackle Late Payments appeared first on Fintech Finance.
Teen Spending Plummets To A 20-Year Low
PYMNTS
OCTOBER 6, 2020
One year ago, Piper Jaffray researchers found that American teens spent $2,371 per year, the lowest level for the age group since the fall of 2011. Teen spending has been on the decline long before the coronavirus brought the economy to a virtual halt. The data, gathered from 9,500 teens across 42 U.S. states, with an average age of 15.8
Economy 102
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BPI and TCH wade into Corner Post litigation
Finextra
OCTOBER 17, 2024
Corner Post, a North Dakota truck stop, is challenging the Federal Reserve’s 2011 rules governing debit interchange revenue established pursuant to the “Durbin Amendment” in the Dodd-Frank Act. The Bank Policy Institute (BPI) and The Clearing House Association filed a motion to intervene today in Corner Post, Inc.
TCH 52
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Second Share Purchase Deal Values POS Startup Toast At $8B
PYMNTS
NOVEMBER 24, 2020
Founded in 2011 by Aman Narang , Jonathan Grimm and Steve Fredette , the startup closed a $400 million funding round in February at a $4.9 The secondary offering gives Boston-headquartered Toast a valuation of about $8 billion, up from a $4.9 billion valuation pre-pandemic in February. billion valuation. .
Time Running Out for Payment Providers to Have Their Say on New Regulatory Regime
Fintech Finance
NOVEMBER 18, 2024
The second phase will completely replace the existing safeguarding requirements under the Electronic Money Regulations 2011 and Payment Services Regulations 2017 with a new chapter of CASS, (CASS 15). This phase will put more onus on payment providers to implement better record keeping, reporting and monitoring processes.
Consulting 97
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Poshmark Files For IPO After Posting Record Profits
PYMNTS
DECEMBER 18, 2020
The social commerce marketplace founded in 2011 connects sellers of used clothing, shoes and accessories to buyers looking for deals. The price range and the number of shares being offered have not yet been determined. Morgan Stanley and Goldman Sachs are leading the offering. Poshmark reports that it has transacted $1.1
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Finovate Global Netherlands: Investing in Digital Banking and Innovating with AI
Finovate
OCTOBER 4, 2024
Check out this roster of Dutch fintechs that have demoed their innovations on the Finovate stage.
AI 64
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Volocopter, Grab Partner On Air Taxi Study In Southeast Asia
PYMNTS
FEBRUARY 18, 2020
Volocopter was founded in 2011 and is a pioneer in urban air mobility. The startup said it demonstrated in 2011 that electrically powered vertical flight is possible for humans. The collaboration could “eventually extend intermodal mobility to the skies.” .
Use Case 65
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What is Safe Scaled Agile Framework (SAFe)
Axway
FEBRUARY 11, 2021
In 2011, Dean Leffingwell developed the program to pinpoint varied … As a framework for scaling Agile methods across an enterprise, Safe Scaled Agile Framework (SAFe) delivers faster turnaround speeds for product development by increasing quality and efficiency across the board.
Product 52
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52 
3forge Lands Funding from Morgan Stanley
Finovate
SEPTEMBER 5, 2024
The amount of the round, which marked 3forge’s first external investment since it was founded in 2011, was undisclosed. Low code platform 3forge has landed its first external investment round since it was founded in 2011. 3forge will use the funds to fuel its global go-to-market strategy and expand its development community.
On-Demand 59
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FastSpring Acquires SalesRight To Grow eCommerce Solutions For SaaS
PYMNTS
NOVEMBER 19, 2020
Originally an eCommerce solution for companies selling desktop software, the company did a 2011 pivot into the SaaS space. The Santa Barbara, California startup FastSpring was founded in 2005 by Dan Engel, Jason Foodman, Ken White and Ryan Dewell.
Cross-Border 81
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GameStop's Top Investor Sees Epic Battle With Amazon
PYMNTS
SEPTEMBER 22, 2020
In 2011, Cohen started Chewy.com and went on to serve as CEO. The plan would include challenging the biggest eCommerce companies, with Amazon at the head of the pack. Right now, GameStop’s focus is on video games, consumer electronics and gamer merchandise. In 2017, PetSmart bought the online pet store for nearly $3.4 billion.
BNPL 84
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FDIC: US Banks See Chargebacks Soar, Profits Tank Due To Pandemic
PYMNTS
JUNE 17, 2020
In addition, the total number of problem banks the FDIC was watching rose for the first time since 2011, with 54 firms in the first quarter, up from 51. According to the Federal Deposit Insurance Corporation (FDIC), over half of all banks ended up reporting a decline in profits, and 7.3 billion, Reuters wrote.
FDIC 81
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Velera Partners with Arroweye Solutions
Finovate
OCTOBER 16, 2024
Headquartered in Nevada, Arroweye made its Finovate debut at FinovateSpring 2011. Founded in 2000, Arroweye Solutions made its Finovate debut at FinovateSpring 2011. The multi-year partnership will provide faster speed to market and change orders, as well as zero inventory to avoid having to manage stores of pre-printed cards.
SigFig Brings AI to its Financial Advisor Collaboration Platform Engage
Finovate
AUGUST 19, 2024
San Francisco-based SigFig has been a Finovate alum since its FinovateFall debut in 2011. SigFig made its Finovate debut at FinovateFall 2011. The new capabilities include a range of AI-powered tools and solutions to enhance client engagement and boost efficiency for advisors and their teams.
Advisors 59
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Myanmar’s Digital Transformation: Fintech, Wave Money, and Financial Inclusion
The Fintech Times
SEPTEMBER 27, 2024
Although the government permitted microfinance companies in 2011, the number of microfinance institutions remains low. Access to capital is a significant challenge for micro, small, and medium enterprises (MSMEs), despite high demand.
PAAY Partners With Bluefin To Further Secure eCommerce Transactions
PYMNTS
NOVEMBER 10, 2020
New York-headquartered PAAY, a consumer authentication innovator co-founded in 2011 by James Ruffer and Yitz Mendlowitz, has a new security solution that aims to obliterate hacking and fraud threats.
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