In today’s top news, Railsbank closed a $37 million funding deal, and companies in the U.S. and U.K. urged antitrust regulators to act fast in enforcement toward Google. Plus, Afterpay launched a cross-border payment option for merchants.
U.K. banking-as-a-service (BaaS) Startup Railsbank closed a $37 million funding deal co-led by MiddleGame Ventures and Ventura Capital. The funding is being earmarked to launch credit cards-as-a-service in the U.S. and elsewhere as the BaaS platform grows its global footprint.
A group of 165 companies and industry associations — from the U.S. and U.K as well as 21 European Union (EU) countries — sent a letter to antitrust regulators asking that they throw the book at Google as fast as possible.
Buy now, pay later (BNPL) firm Afterpay has introduced new cross-border options for merchants to sell their products to consumers in Australia, New Zealand, the U.K. and Canada. The company also plans to allow global merchants to sell to U.S. shoppers with installment payments next year.
Paytronix has launched Paytronix Subscriptions, a subscription-building product that will allow any restaurant or convenience store to set up and manage a subscription program for its customers.
Executives from Adore Me, PayPal and BigCommerce join Karen Webster for an On The Agenda conversation in which they stress the importance of brand resilience in a world where scores of unknowns remain about what comes next. The consensus: the brands ready to flex with the ebbs and flows of changing consumer preferences are the ones that will survive.
Touchless and contactless methods are making waves as consumers’ shopping and payment habits shift to digital-first, but financial services providers must approach investments in these technologies strategically. In Beyond The Card: Toward The Cardless And Contactless Future, PYMNTS examines how FinTechs and banks can better invest to develop innovative payment options and avoid rolling out solutions that fall flat.
eCommerce player MercadoLibre obtained a license to operate as a financial institution in Brazil this week, giving it greater autonomy in the direct creation and operation of financial services in Brazil. But Amazon may also be moving into financial services.