Welcome Technologies, which builds data-driven tech for immigrant communities, has chosen PSCU, a credit union service organization, to provide processing services and support for the first credit card program to be offered by Welcome, an online consumer platform that focuses on immigrant communities, according to...
Paysafe, an integrated payments platform, has launched Paysafecash in the U.S. to help offer an alternative payment method for those looking to transact online, according to a press release. The launch of Paysafecash, an eCash solution, will try to combat financial inequality as many Americans...
Oportun Financial, which provides “inclusive, affordable” financial services, has applied for a national bank charter with the Office of the Comptroller of the Currency (OCC), according to a press release. Raul Vazquez, Oportun CEO, said the charter would allow the company to reach 100 million...
Blockchain and a bank charter might do much to boost financial inclusion. While many digital-first companies springboard from payments into lending, Figure Technologies, a FinTech focused on home improvement, debt consolidation and retirement products that leverage blockchain protocols, is branching out from lending into payments....
Mastercard is teaming up with FinTech startup Juvo to help the “underbanked” in Latin America and the Caribbean to build credit histories so they can engage in a wider range of financial services. Juvo’s Financial Identity as a Service (FiDaaS) platform allows customers to create...
A recent Federal Deposit Insurance Corp. (FDIC) study found that the number of unbanked U.S. consumers will likely start rising again as a result of the pandemic recession. Keeping these consumers engaged in the broader financial system is essential to the collective good. PYMNTS’ November...
Visa has partnered with UAE-based NOW Money to bring digital banking services to low-income customers in the Gulf Region who are unable to access traditional banking services such as cross-border money transfers. Under the agreement, NOW Money will provide customers with contactless-enabled Visa payment cards...
While much has been written about India’s vast unbanked population — roughly one-eighth by the World Bank’s estimates — the more important issue to really look at is how much of India’s population is underbanked, Mandar Agashe, founder, managing director and vice chairman of Sarvatra...
Citi will take action to help close the racial wealth gap in the U.S., the company said in a blog post Wednesday (Sept. 23), written by incoming CEO Jane Fraser. The company’s new approach is titled Action for Racial Equity, and it will encompass a...