Category: Doing Business Overseas

Visa reached a multiyear agreement with fintech WEX to “enable their travel, health and corporate clients to make payments using Visa virtual card capabilities,” Visa Chief Executive Al Kelly said during Tuesday’s fiscal third-quarter earnings call. In addition, Visa also partnered with credit fintech Fundbox at the end of May to enable new payment capabilities…

Credit unions are looking to personalize their customer experience offerings by leveraging artificial intelligence (AI), particularly as customer expectations have changed in the wake of the COVID-19 pandemic and the mass employee resignations that have followed. Financial institutions have struggled to keep up with customer demand since the pandemic began as branches shuttered and call…

Provo, Utah-based fintech Asa announced a partnership with Pyramid Federal Credit Union. Asa will use its collaborative banking approach to enable Pyramid FCU to expand its offerings via connections with customer-facing fintechs. Asa made its Finovate debut last September at FinovateFall 2021. Pyramid Federal Credit Union, a Tucson, Arizona-based financial institution with $168 million in…

Here is our pick of the 3 most important stablecoin stories during the week. How much and what type of Collateral is your stablecoin backed by? First, It’s not every week that regulators from both sides of the Atlantic ocean come together to discuss cryptocurrencies. But that’s what happened last week, with the European Union…

Identity verification and fraud solution provider Socure is teaming up with business verification and identity platform Middesk. The partnership is the first instance in which two Know Your Business (KYB) and Know Your Customer (KYC0 innovators have created an integrated, end-to-end business verification solution. Socure, a Finovate alum since 2013, has raised more than $646…

Buy-now-pay-later (BNPL) use in the U.S. has more than doubled since 2020. “[T]hat’s not much of a surprise if you follow digital payment trends throughout the pandemic,” Jordan McKee, principal research analyst at S&P Global Market Intelligence, said recently during the company’s “Financial Services and Tech Companies at the Crossroads” webinar. BNPL has “been a…

Equifax announced today its plans to acquire fraud solution Midigator to enhance its digital identity and fraud prevention capabilities as chargebacks and transaction disputes rise. In 2022, global e-commerce sales are expected to reach $5.5 trillion, and as e-commerce transactions rise, fraud, too, is expected to surge, according to an Equifax statement. Midigator’s automated, data-driven…

Core provider Fiserv continues to seek innovation opportunities for its customers through acquisitions and organic investments. “These investments and accelerated revenue growth resulted in higher capital expenditures and working capital leading to free cash flow of $658 million for the quarter and $1.3 billion year to date,” Frank Bisignano, chief executive at Fiserv, said during…

Canadian e-commerce firm Shopify Inc. will cut about 10% of its workforce Tuesday, as Chief Executive Officer Tobi Lutke acknowledged the company’s decision to expand rapidly coming out of the Covid-19 pandemic didn’t pay off. The move will eliminate about 1,000 jobs out of 10,000 or so total employees at Shopify. Most of the affected…