Uber gears up for super app launch
/The rideshare giant said it will soon add plane, train, and rental-car booking to its app in the U.K. It also said it may scale these services beyond the U.K. if the new services gain traction.
Read MoreFintech News Stories
Citigroup pauses SPACs, awaits regulation
/
The financial giant said it would temporarily halt public offerings through special purpose acquisition companies (SPACs). It’s concerned about increased oversight into SPACs from the SEC, which has yet to solidify specific guidelines.
Read MoreDimon’s shareholder letter: A subtle fintech strategy
/
In his annual letter to shareholders, JPMorgan CEO Jamie Dimon shared his concerns about global volatility caused by the war in Ukraine, inflation, as well as consumer confidence. He also called for a “Marshall Plan” for decarbonization.
Read MoreWhat’s Egypt’s long game with InstaPay?
/
Launched on March 23 by Egypt’s central bank, InstaPay permits electronic transfers from accounts belonging to different banks. 13 banks currently use the app and run on its Instant Payment Network (IPN).
Read MoreCan NFTs help rebuild Ukraine?
/
Ukraine’s government has raised more than $600,000 through the Ukrainian MetaHistory NFT-Museum. The proceeds will be used to rebuild museums and other cultural institutions that have been damaged or destroyed by the Russian invasion of the country.
Read MoreE.U. to outlaw anonymous crypto transactions
/
European Union lawmakers have voted to apply AML regulations to crypto, while also requiring ID verification for payers and recipients of any amount of cryptocurrency. The E.U. may also cut off unregulated crypto exchanges from financial systems if they fail to comply.
Read MoreApple eyes building its own payments tech
/
A multiyear plan would help the computing giant develop its own infrastructure for financial products. It would facilitate new approaches to payment processing, risk assessment for lending, fraud analysis, credit checks, and more.
Read MoreBank of Italy bans N26 onboarding
/
Italy’s central bank has banned N26, the Germany-based neobank giant, from onboarding new customers or offering new products. Italian regulators have flagged N26 for its weak AML procedures.
Read MoreMajor U.S. banks face climate change vote
/
Shareholders are set to vote on proposals to reduce financing for projects in oil and gas. The banks include JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs, and Morgan Stanley.
Read MoreVisa and Mastercard still work in Russia. How?
/
Both payments processors had previously announced that that they would stop doing business in Russia. But their cards still work within the country, because Visa and Mastercard were forced to switch to Russia’s domestic payments-processing system in 2015.
Read MoreWells Fargo, Bilt announce credit card for renters
/
The Bilt Mastercard lets renters earn rewards on rent payments, and use rewards points for down payments. For the first time, tenants can also pay rent through credit cards without transaction fees.
Read MoreThe hidden costs of paycheck advances
/
According to the Financial Health Network, more than 70% of pay-advance users have taken out several advances in a row. Predatory data collection and obscure cash-limit algorithms further affect consumers within this $12B industry.
Read MoreTencent eyes holding company for WeChat Pay
/
The Chinese tech giant said it is looking into whether Chinese regulators will force it to house its financial businesses in a holding company. Two financial holding company licenses have recently been issued in the country.
Read MoreWhite House outlines plan for equity in home appraisals
/
An interagency panel, the Property Appraisal and Valuation Equity task force, released a plan for addressing discrimination in the appraisal industry. The group first convened last summer.
Read MoreMorgan Stanley doubts DeFi growth
/
In a research report, Morgan Stanley said it expects growth within decentralized finance to slow down. It cited regulation and overcollateralization as the two primary factors affecting DeFi’s deceleration.
Read More
