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Facebook, Celebrities Join $50 Million Series B For FinTech Startup Step

PYMNTS

Participating tech investors included executives from Facebook, Square, Venmo, Visa and others. Step customers get a bank account that is insured by the FDIC, as well as a secured spending card backed by Visa and the P2P payments platform. To date, Step has raised more than $75 million from investors, including $22.5

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For America’s Unbanked, Mobile And Digital Save The Day

PYMNTS

FDIC) study found that the number of unbanked U.S. consumers are now using some kind of P2P mobile application, such as Venmo.”. A recent Federal Deposit Insurance Corp. consumers will likely start rising again as a result of the pandemic recession. Thirty-one percent of U.S.

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How Banks Can Tap Trust As Their Foundation For Innovation

PYMNTS

Square also made the jump into officially becoming a bank this week, with the award of an ILC banking license by the FDIC. He cited Venmo as a terrific example of this – as well as an example of how banks working in concert to be more digitally focused can respond with digital innovations of their own. What we learned was interesting.

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Why Payments Diversity Matters As Firms Go Global

PYMNTS

Other options, such as credit cards and payment apps like Venmo , are increasingly gaining traction. FDIC) estimated that 6.5 That’s especially true among younger users such as millennials. But Ives noted that hesitance to go cashless, in some industries, arises from concerns about disenfranchising the underbanked.

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Future Of Fintech 2019: Here’s What’s In Store For Day 1 Of The Event

CB Insights

Plaid is the engine that powers popular consumer apps such as Robinhood, Venmo, Coinbase, and Betterment). Former FDIC Chair – Because who better to share insights on the US fiscal policy and the state of the economy than the former FDIC Chair?

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The Big Sizzle: Winning Week For Wearables

PYMNTS

The improvement is tied to the strength of the economy, and the survey conducted by the FDIC also found an improvement in the “underbanked” rate, which was 18.7 PayPal and Venmo are gaining traction, as Zelle saw 15 percent growth quarter over quarter to 116 million transactions in Q3, worth $32 billion. percent last year, 1.2

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Small Banks Vow To Protect Regulations Keeping Retailers And Tech Giants Off Their Turf

PYMNTS

But tech and retail players have worked around this by offering an ever-greater number of financial services — or financial service adjacent-services — like Apple Pay, Venmo and LendingClub.