Fintech

Argentina’s Ualá, the mobile payments startup backed by heavyweight billionaire investors George Soros and Steve Cohen, is launching its prepaid card operations in Mexico.

Processing transactions quickly enough to serve digital commerce comes with arduous upgrades and complicated choices, but that's only the stick. The carrot is people like faster payments, so there's plenty of opportunities to boost payment revenue.

Embedded finance isn't new, but the influence of online payments and banking creates vast new scale, says Kunai's Sandeep Sood.

Members of St. Matthews Federal Credit Union are set to vote on whether to join the $2.3 billion-asset Chartway before the end of the year.

It won’t be too long before the majority of banks globally will instantly issue, driven by the practical need to reduce physical contact during the pandemic, says ME Bank’s Steve Price.

The startup said its Marqeta Tokenization-as-a-Service enables banks or fintechs to instantly add credit, debit or prepaid cards to a digital wallet by directly managing tokens instead of going through a third party.

The West Virginia company has an agreement to buy WinFirst Financial for $21.7 million in cash.

The pending sale of Umpqua Investments should free up funds for the company to invest in other businesses.

The company would also gain a branch near Dallas with the proposed acquisition.

Since July, Visa has noticed an uptick in unemployment insurance fraud with prepaid cards being used as a key disbursement vehicle. And the best solution may be rooted in technology, not law enforcement.