Issue #8 - New revenue tricks for old FI's.
Crypto profits for mainstream FIs
“A significant portion of their cards were being used to buy crypto assets, and crypto cards were being used to access the assets and convert them to traditional currencies for spending.” Jerusalem Post: Visa, Mastercard are taking crypto. So what’s next?
Mastercard: Why Mastercard is bringing crypto onto its network
Fortune: That settles it: Visa is making life way easier for crypto businesses
Banks are getting a piece of the Crypto revenue action thanks to Core systems providers.
FIS: Bitcoin in Your Bank Account? FIS, NYDIG Partner to Enable Banks to Offer Their Customers the Ability to Buy, Sell and Hold Bitcoin
Finextra: Temenos brings digital asset trading to core banking product
Profit pools moving to alternative payment networks.
Banks and vendors aren’t going to miss out on money transfer revenues waiting for SWIFT and other traditional networks to modernize.
FintechFutures: HSBC launches multi-currency business wallet to rival fintech providers
Finextra: Temenos embeds money transfers from Wise into core banking package
PaygoFX: Simple, fair international payments with PagoFX and One Pay FX
Reuters: Thailand, Singapore launch linkage of real-time payment systems
Is regulatory pressure motivating banks to find new ways to maintain margins?
Finextra: European Central Bank castigates banks over instant payment fees
Globe & Mail: As shopping habits change, Ottawa targets credit card swipe fees
Funding, M&A and IPOs
Bloomberg: Cagney’s Figure Valued at $3.2 Billion in Latest Funding Round “The company’s pay business... is still growing as the firm seeks to go after industry giants such as Visa Inc. and Mastercard Inc”
IBSintelligence: Thunes raises US$60 million in Series B growth round (Cross-border APN)
Techcrunch: Amount raises $99M at a $1B+ valuation to help banks better compete with fintechs
London News Today: ThetaRay Moves to Cloud with $ 31 Million Fundraising. TheataRay spots fraud risk in payments data.
News18: Zeta Becomes Latest Entrant to Unicorn Club With $250 Million SoftBank-Led Funding (software to help banks modernize faster)
PRNewswire: DailyPay Raises $500 Million Of Capital, Powering Its Mission To Transform The Financial System
Reuters:Electronic billing startup Paymentus targets over $2B valuation in U.S. IPO
Zephyrnet: Pipe hits $2 billion valuation within a year of launch. Pipe’s platform is an exchange for financing recurring revenue businesses.