Today In Payments: InsurTech Lemonade To Go Public; Affirm Unveils High-Yield Savings Account

In today’s top news, insurance tech startup Lemonade filed an IPO, and Affirm launched a high-yield savings account. Plus, retail dispute management firm Chargeback raised $6.6 million.

InsurTech Lemonade To Go Public

Lemonade Inc., the property and casualty insurance startup, has filed an initial public offering (IPO). The management team for the proposed offering includes some of the biggest names in financial services: Goldman Sachs & Co., Morgan Stanley & Co., Allen & Company, Barclays Capital Inc., JMP Securities, Oppenheimer & Co. Inc., William Blair & Company and LionTree Advisors.

Affirm Unveils High-Yield Savings Account

Affirm has debuted a high-yield savings account called Affirm Savings. The alternate payment company said the offering is available through its app, which users can download from the Google Play Store or App Store, and comes with 1.30 percent annual percentage yield (APY).

Dispute Management Firm Chargeback Raises $6.6M

Retail dispute management firm Chargeback announced Monday (June 8) that it has closed a $6.6 million Series A1 funding round. Chargeback said the funding will accelerate its growth and ability to help online and offline retailers decrease credit card disputes, achieve higher win rates and retain more revenue. The company said the COVID-19 pandemic has made chargebacks a more urgent concern as eCommerce transactions have spiked.

Flywire Adds Customizable Plans To Healthcare Payments Platform

In a move to strengthen patient engagement and affordability, Flywire has unveiled new enhancements to its healthcare payments platform amid the pandemic. The firm is offering pre-service payments plans to give patients personalized payment options before service, and also offer customizable payment offers that adapt to a patient’s ability to pay to let providers address concerns of those who might be facing hardship due to COVID-19.

New Report: Home Closings Go Digital With Remote Online Notary Services

House hunters have been able to virtually tour prospective properties for years, but ID verification mandates in different states still often required in-person real estate closings. However, that all changed as the COVID-19 crisis forced many states to rethink their notary laws, says James Schlimmer, managing partner of Cottrell Title & Escrow. In this month’s Digital Identity Tracker, Schlimmer discusses how integrated biometric ID verification tools and remote online notary services are allowing buyers to close home purchases from across the country.

Exclusive: Citi Enables Mastercard’s Click to Pay At Checkout For Cardholders

Guest checkout needs an overhaul as the great digital shift continues, Jess Turner, executive vice president of products and innovation at Mastercard, and Radha Suvarna, head of digital payments and lending for the Citi US Consumer Bank, tell Karen Webster. Leveraging the Secure Remote Commerce standards, they are delivering a consistent, streamlined and secure experience for Citi cardholders — by provisioning Citi cards through the mobile app to enable Click to Pay on 10,000 merchant sites.

Will Americans Return To Salons After Doing Their Hair At Home During The Pandemic?

Over the course of the lockdown, U.S. consumers have increasingly gone DIY on their beauty routines, from treating your hair to your nails. But what happens now? Do they go back to salons and nail parlors as states ease lockdowns, or do they stick with doing things themselves?


New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.