Affirm, founded by entrepreneur Max Levchin to provide fair alternative credit, has announced that it is opening its second corporate headquarters (HQ2) in Pittsburgh, Pennsylvania. “It was important for us to be able to grow our workforce for many years to come with superb talent,”...
Essential Products, the smartphone startup founded by Andy Rubin, the creator of Android, is slashing its workforce by around 30 percent. Bloomberg, citing people familiar with the matter, reported the workforce reductions are happening in its hardware, marketing and sales units. The company has around 120...
Merchants are facing a sizable number of card declines, which are stubbornly averaging at around 15 percent. That challenge is not lost on FinTech startups. “Merchants are now getting swamped with declines,” Modo Chief Executive Bruce Parker told PYMNTS in an interview. Yet around 12...
When driving innovation and taking new approaches to payments, FinTech startups can increase choice for banks, retailers and consumers. Last month, startups such as Modo helped airline customers find more ways to spend their points, while DadeSystems sought to assist banks in giving their corporate...
Wimdu, the homesharing startup that was launched out of the Berlin-based Rocket Internet startup incubator and took a page from Airbnb, is to shut down this year, according to reports. Citing an announcement on the company’s website, the report said that Wimdu, which has 100 employees,...
SEBA Crypto, the Swiss startup building a cryptocurrency bank, has raised $103 million from investors including BlackRiver Asset Management and Summer Capital. Reuters, citing the company, reported the proceeds from the funding will go to build the bank that will offer cryptocurrency services to companies...
When it comes to treasury market offerings, banks have historically started wholesale and retail lockbox businesses. They were able to provide these services to their corporate customers, which effectively outsourced all of the work around receiving payments: that is, opening envelopes, scanning payments – as...
Taxify, the Estonian-based ride-hailing company, is launching a new brand of e-scooters, dubbed Bolt. According to reports, starting now Taxify will roll out a scooter sharing service via its mobile app in Paris. A spokesperson for the company said that the scooters will be available in...
Banks have honed their systems for decades to manage payments seamlessly and efficiently, while providing great client service with Titanic amounts of volume. However, they face a challenge when it comes to working with emerging forms of payments. “It’s hard to get those systems now...