Fintech

Spring Labs is spearheading a group of prominent fintech lenders to use a blockchain-based, peer-to-peer network to share consumer information to help with ID verification on loan applications.

Samsung’s been pushing for government support for its blockchain and cryptocurrency technology for much of the past year, and early Galaxy S10 leaks suggest a built-in crypto wallet will be among the handset's planned features.

The bank-led P2P network Zelle saw its strongest quarterly growth during the fourth quarter of 2018, as payment volume rose nearly 60 percent to $119 billion for the year. But large banks such as Bank of America are seemingly driving the lion’s share of its volume.

Bank First's deal for Partnership is the third Wisconsin bank merger announced this week.

The Society for Worldwide Interbank Financial Telecommunication reports that its Global Payments Innovation system, which it launched two years ago, now handles more than a million payments a day.

Industry groups and lawmakers have joined bankers in insisting the agency develop a plan to resolve the paperwork problem before the partial government shutdown ends.

In selling its Walmart credit card portfolio to Capital One and extending a partnership with Sam’s Club that appeared to be in peril, Synchrony Financial avoids an expensive legal battle with the world’s largest retailer.

Advent International Capital has bought a majority stake in the Argentine operator of Visa for about $725 million from a group of local banks.

Americans 50 and older make up a sizable portion of the U.S. population — 115 million individuals in 2018. While these consumers may not be the first to use mobile P2P apps, they represent a big payment opportunity because of their economic purchasing power.

A 2017 agreement with Marriott International that kept the hotel chain's card portfolio with American Express and JPMorgan Chase will take a brand marketing turn in February, but leave both issuers as partners.