Mobile banking

Industry leaders will discuss the most pressing issues of the day at this year's conference starting June 13.

The Swedish buy now/pay later company Klarna Bank saw its borrowing costs rise to their highest level on record as rising rates hit the company’s debt and equity valuation. 

The buy now/pay later provider Klarna Bank is pushing further into the retail industry by offering traditional stores a platform to stream and video-chat with online customers.

Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

Apple is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter.

PayPal does its part in Ukraine, recognition for U.S. Bank and more in banking news this week.

Nearly a quarter of respondents in a recent Credit Karma survey said that their total debt increased after using “buy now, pay later” services, which allow users to pay off purchases in installments over a few weeks.

Roughly two dozen countries have issued central bank digital currencies or have pilots underway. But until financial services firms strengthen the security of their mobile apps, these payment tools are unlikely to gain widespread acceptance.

Its new widget allows consumers to initiate a payment from their phone's home screen instead of opening an app to potentially reveal their full banking details to prying eyes.

Robinhood Markets is working on a new feature that lets users receive their paychecks via direct deposit up to two days early, stepping up competition with companies like PayPal Holdings and Wealthfront.