Fintech

Unsecured personal lending has fallen as many consumers have stashed away cash and paid down credit card balances during the pandemic. The trend probably won’t reverse course anytime soon.

The company has agreed to pay $32 million for a bank with six branches and $256 million of assets.

Japan has long been known for its heavy use of cash, which is a burden for banks that are trying to move more services online. Maintaining ATMs alone costs about 700 billion yen ($6.6 billion) annually and another 100 billion yen is spent handling cash at branch counters, Nomura Research Institute estimates.

The Houston-based lender is working with financial advisers to solicit interest from potential buyers, according to people familiar with the matter.

Marqeta reached a $4 billion valuation over the last decade focusing only on prepaid and debit card issuing, and now it’s retooled its digital platform to issue credit cards, too.

Acquiring AmeriHome would provide the fee revenue the Phoenix company seeks to compensate for low interest rates and tepid commercial loan demand. The deal also would allow it to reinvest billions of dollars of excess liquidity.

I2c and Unifimoney change incentives to fit market conditions, rather than focusing primarily on boosting consumer spending.

Norwegian browser Opera Limited has launched Dify, a wallet that will support payments and cash-back rewards through a virtual Mastercard debit card.

The card brand's data exchange platform, which provides mobile real-time processing, has gained support from the likes of PNC and Citizens.

The card brand's data exchange platform, which provides mobile real-time processing, has gained support from the likes of PNC and Citizens.