Investment

What the FIS-Worldpay deal means for banks; behind the OCC's public rebuke of Wells Fargo; ripple effect feared as Fed mulls lifetime bans for two bankers; and more from this week's most-read stories.

Marqeta, which launched in 2010 with a payments platform to support payments through mobile and virtual channels, reportedly has attracted $250 million in a new funding round, which would bring its total funding amount to more than $350 million.

The most popular features of the AI-driven virtual assistant include transaction search and spending alerts.

Advent International and Bain Capital have made quite a team in payments industry deals.

An executive at the Rhode Island company said the complexity of business lending remains an obstacle to switching to entirely automated, paperless operations.

Until recently, biometric ATMs were very hard to find in developed markets other than Brazil, India and Japan.

There’s currently a focus on investing in technology and data to remain competitive, but financial firms also need to ensure they are helping workers adapt, argues Synchrony’s Margaret Keane.

As growth slows in key markets, Starbucks Corp. is funding a new investment arm with $100 million to identify and tap into companies that are developing new technology and products related to food and retail.

Reports of improper charges by perpetrators who know the victim soared last year. Issuers and card networks are failing to tighten security, clearly label transactions and police chargebacks, critics say.

Dumping passwords in favor of interoperable, flexible identity is an evolution as bumpy as it is necessary. FIS and Worldpay’s combination stands to create tools that can smooth this road.