Fintech

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.

Having already changed charters for a statewide field of membership, the Jackson, Mich.-based institution will now merge with Washtenaw Federal Credit Union.

The bank has agreed to pay $158 million for Standard AVB Financial, which has 17 branches in Pennsylvania.

Atlanta-based fintech Greenlight has raised $215 million in a Series C round and announced that it has achieved a valuation of $1.2 billion, giving it unicorn status.

Brink's has seen a 20% increase since January in the amount of cash processed in its own systems, signaling that as users return to stores they’re choosing to pay with cash.