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Fintech companies only think they want to be banks. Banking may seem like a natural evolution, but that doesn’t mean fintech firms should become banks, says nbkc bank's Zach Anderson Pettet.

Online platforms and apps can be utilized to quickly support small businesses and consumers facing unexpected financial hardship.

The coronavirus is hitting small businesses hard, slamming one of Square’s core markets just as the payments company got a long-awaited industrial banking license.

Utah bank is expected to launch next year; banks want to hold off regulations that would hamper efforts to keep money flowing during virus crisis.

In signing off on deposit insurance for the payments giant and student loan servicer, the FDIC sanctioned the first new industrial loan companies in over a decade.

Online platforms and apps can be utilized to quickly support small businesses and consumers facing unexpected financial hardship.

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

A decision by regulators on how to move forward with the controversial charter could have broad implications for fintech firms that want to enter the banking system.

The growth and monetization of Square’s Cash App boosted the company's quarterly earnings, along with the sale of its food delivery unit Caviar.

Square has buttressed its deep-learning with the purchase of Dessa, a Toronto-based machine learning startup that specializes in advanced risk management.

Square is adding to its menu of services just as long-established competitors embed expanding payments technology into their own product mix.

The rise in food delivery options is affecting restaurants of all kinds. It's a trend driven by consumers' strong appetite for mobile ordering and payments.

Breaking into the POS credit market is nearly impossible for payment companies without cooperation, says Jifiti's Nufar Segal.

Kabbage Inc. is offering tailored loans to small businesses that have unexpected cash flow needs, hoping to grab a wider share of its clients' relationships.

Millennials especially have shunned credit cards in favor of buying even low-ticket items using a system of installment loans, often incurring little to no interest, says Jifiti's Nufar Segal.

The payments industry is a hotbed of innovation, and many of its larger players are eager to claim patents on new developments.

Square's merchants have shown early interest in cryptocurrency payments, and if merchants accept this new concept, it could exist along with other Square services to support numerous use cases, including broader financial services.

The success of Fiserv’s acquisition of First Data, FIS’ purchase of WorldPay, or Global Payments merger with TSYS rides on the companies’ ability to address merchants that are under extreme pressure.

The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction.

A more practical approach for U.S. regulators on whether to bring fintechs into the banking fold might be "better the devil you know than the devil you don’t."