Consumer payments platform Nelo has joined forces with Paymentology to drive financial inclusion in Mexico. The collaboration, announced Tuesday (Sept. 12), will see Paymentology — a U.K.-based card issuer — supporting Nelo’s Mastercard in-person payments through Billetera de Google in Mexico, as well as with the launch of physical cards. “Thanks to Paymentology,...
Petal is preparing to expand its credit card program after securing a $200 million debt facility. The FinTech announced the funding — from investment firm Victory Park Capital — in a news release Thursday (Aug. 3), saying it would help its goal of issuing cards to consumers...
Tala added 800,000 new customers in the first half of the year — a 114% increase in growth compared to the first half of 2022. More than 8 million customers across four markets — Kenya, India, the Philippines and Mexico — are now using the...
BNY Mellon and MoCaFi have partnered to ease payments to unbanked and underbanked people. With this collaboration, banking giant BNY Mellon’s Treasury Services business will provide a digital disbursement payment service through the offering of MoCaFi, which is a FinTech platform for underserved communities, the companies said...
i2c and Access Finance have partnered to bring a credit card for credit-challenged people to the United States. With the partnership, Bulgaria-based Access Finance will use i2c’s payments platform to expand its Juzt Mastercard credit program from Europe to the U.S., the companies said in a Wednesday...
FICO has debuted a pair of services to help lenders make better credit decisions. The analytics company Wednesday (May 10) announced the launch of its Inclusion Accelerator Program and Financial Inclusion Lab to promote lender use of alternative data solutions, part of FICO’s “Global Financial...
With millions of Americans still struggling to access traditional credit options, achieving full financial inclusion will be neither quick nor easy. With an estimated 307 million smartphone users in the U.S., however, the emergence of mobile technologies has created opportunities to expand credit access to...
Nearly 60% of millennials report subprime credit scores, making it harder for them to get credit from traditional sources and build a credit profile. A new PYMNTS report highlights the role of FinTechs in creating new products that balance credit risk with credit-building outcomes.
With concerns over the banking system dominating the news after the collapse of Silicon Valley Bank and others, it can be easy to lose sight of another consequential problem: financial access. Although the challenge of financial inclusion is most acute in developing countries, it remains...