Bid Against The Winklevoss Twins In This Crypto Art Auction

Online auctioneer Paddle8 is gearing up to attract crypto enthusiasts with money-themed art and collectibles.

Report: SoFi offers CEO job to Twitter exec with IPO experience

Online lender Social Finance (SoFi) has offered the role of CEO to Twitter COO Anthony Noto, according to the Wall Street Journal. SoFi has been on the hunt for a new leader since the abrupt departure of cofounder and CEO Mike Cagney amid sexual harassment allegations last fall. Noto, a former Army Ranger, helped oversee … Continue reading “Report: SoFi offers CEO job to Twitter exec with IPO experience”

Financial giants dominate blockchain patents—for now

While the price of bitcoin screams up and down, today dropping below $10,000 for the first time since early December, another corner of the crypto world continues to make slow and steady progress: blockchain for banking. According to a study published by EnvisionIP, Wall Street firms loom large among companies that hold blockchain-related patents, with Bank … Continue reading “Financial giants dominate blockchain patents—for now”

Pay by fingerprint? Visa’s new card makes it possible

Millions of consumers already use biometrics technology, like thumbprint scans, to unlock their phones and confirm in-app purchases. Now, similar technology is moving from phones to plastic. With Visa’s new fingerprint card, consumers will be able to avoid four-digit pins and signatures when making in-store purchases. Instead, they will place their finger on a small … Continue reading “Pay by fingerprint? Visa’s new card makes it possible”

The CFPB as we know it may not survive Richard Cordray’s departure

Compass raises $100 million, looks to double its footprint

Compass, a New York-based startup that makes technology tools for real estate brokers, said today that it has raised $100 million in Series E funding at a $1.8 billion valuation. Already active in 10 U.S. markets, Compass plans to use the funds to recruit agents in at least 10 additional markets, including Atlanta, Chicago, Houston, … Continue reading “Compass raises $100 million, looks to double its footprint”

Apple Pay’s active users have doubled since fall 2016

Square’s Jack Dorsey: We’re moving as fast as we can with bank application

Online lending startup SoFi, a fintech success story worth billions, withdrew its application for a bank license last month after a sexual harassment scandal prompted the departure of cofounder Mike Cagney, then CEO. But payments company Square, which hopes to secure the same type of bank license, is moving full speed ahead with its application, CEO … Continue reading “Square’s Jack Dorsey: We’re moving as fast as we can with bank application”

TransferWise and Remitly raise mega-rounds in the new battle for cross-border payments

Globalization is in full swing these days, despite nationalist rumblings. And when goods and people are crossing borders, so too must money. At PayPal, for example, cross-border trade volume grew 41% last year, to over $18 billion. Payments startups are now making a run at that opportunity, with two of the most prominent announcing large … Continue reading “TransferWise and Remitly raise mega-rounds in the new battle for cross-border payments”

Stripe’s founder toolkit can now issue stock with just a few clicks

Stripe is best known for providing payments infrastructure that allows startups to quickly get their checkouts up and running. But the company thinks about its mission more broadly: helping startups officially open for business, with all the minutia and legal paperwork that entails. Today Stripe took another step toward its long-term vision by making it … Continue reading “Stripe’s founder toolkit can now issue stock with just a few clicks”

Why Square made its own register

Square got its start helping sole proprietors accept credit cards. Now, the payments company is thinking bigger—in more ways than one. Today CEO Jack Dorsey unveiled a product called Square Register, an integrated point-of-sale system that has been in development for over two years. It’s the largest of Square’s hardware offerings, designed to serve larger-scale merchants with … Continue reading “Why Square made its own register”

How Wealthsimple Uses Star Power To Break Through Money Anxiety

Stressed about your shrinking paycheck or your rising debt? You’re not alone.

PayPal has seen the future, and the future is marketplaces

To make themselves invaluable to consumers of the future, PayPal has unveiled the very aptly named PayPal for Marketplaces, which they are billing as an “end-to-end global payment solution.” The new payment system lets consumers use PayPal’s entire suite of services–including risk-and-fraud detection capabilities and online buyer and seller protection–or pick and choose from the … Continue reading “PayPal has seen the future, and the future is marketplaces”

Visa wants to replace bank passwords with face scans

The latest smartphones have been built to accommodate fancy biometric authentication techniques like face scans, fingerprints, and voice tests. But as of yet, there aren’t many apps that rely on these new forms of ID. Enter payments giant Visa, which wants to give these emerging password-killers a boost. Yesterday, the company unveiled an API-based offering called … Continue reading “Visa wants to replace bank passwords with face scans”

Micro-investing app Stash will introduce mobile-first banking in early 2018

Since launching in 2015, micro-investing app Stash has attracted 1.2 million customers. These days, it’s adding 25,000 new customers each week. With Stash, for $1 per month, they can save small-dollar amounts and invest their savings in index funds with catchy names like “Roll with Buffett.” Now Stash is eyeing new territory: banking services. Cofounder … Continue reading “Micro-investing app Stash will introduce mobile-first banking in early 2018”

This is why JPMorgan Chase is buying payments startup WePay

PayPal expands “pay with Venmo” to 2 million online retailers

Venmo, the PayPal-owned mobile app best known for peer-to-peer money transfer, is morphing into a full-fledged digital wallet. As of yesterday, any mobile website that accepts PayPal will also accept Venmo as a form of payment. That makes Venmo a viable checkout option at over 2 million U.S. retailers, including Foot Locker and Forever 21. … Continue reading “PayPal expands “pay with Venmo” to 2 million online retailers”

The SoFi Sex Scandal Highlights How Hard It Is For Women In Fintech

“Shame on all of us if we’re building companies from scratch and we get this wrong.”

At SoFi, The Problems Go Way Beyond Its Toxic Workplace

CEO Mike Cagney’s replacement will have to clean up the culture and the business before the company can IPO.