Fintech

Wirecard AG filed for insolvency, the culmination of a stunning accounting scandal that led to the arrest of its CEO and left the German payment-processing firm unable to find over $2 billion missing from its balance sheet.

While a business seeking payments and business management services could piece together what it needs from a few different providers, it's increasingly easier to find fintechs and startups demonstrating how all services can funnel through one platform.

Three years ago, Alipay began its brick-and-mortar conquest of North America, promoting acceptance of the Alibaba affiliate Ant Group's mobile wallet at shops targeting Chinese tourists, eventually reaching thousands of U.S. and Canadian stores.

Wirecard AG won a short reprieve from the lenders on its $2 billion revolving credit facility after banks decided to assess the embattled company’s long-term viability before telling it to repay the loan.

The pandemic has propelled digital banking to the forefront faster than expected and in ways that will have a lasting impact for credit unions.

The payments company is buying Finicity, which powers platforms for Rocket Mortgage and others; the small N.J.-based lender to fintechs is the fourth largest PPP provider.

The outbreak has completely upended whatever expectations the industry had heading into 2020. Here's key areas that have been shaped by the pandemic, some potentially forever.

Whether they take the form of a mobile wallet or a touch-free credit card, contactless payments are poised to take off as consumers — wary of using terminals and ATMs or handing cards back and forth — change their habits.

The number of credit unions serving as minority depository institutions continues to decline, but those CUs often focus on rural and under-served communities, a priority for NCUA Chairman Rodney Hood.

Orka Technology Group has launched a new earned wage access tool called Orka Pay for hourly workers to gain access to their wages between pay periods.