Square’s Cash app now supports direct deposits for your paycheck

It seems like each new feature Square adds to its Cash app brings it one step closer to being a de-facto bank account for its users. Case in point, the app just rolled out support for ACH direct depos

U.S. banks’ Venmo alternative, Zelle, moved $75B last year, says 100,000 people enroll daily

Zelle, U.S. banks’ answer to mobile payment services like PayPal and Venmo, claims that nearly 100,000 consumers, on average, are signing up for its service per day. The company also painted a p

Marijuana-friendly states ask Congress to make banking legal for the weed industry

Recreational marijuana might be having its moment, but that doesn't mean that all the kinks are worked out. Because of laws that still classify it as an illicit substance on the federal level, the ban

Betting consumers are tired of bad bank behavior, Aspiration raises $47 million for its alternative

A who's-who of celebrities, investors and celebrity investors have come together to invest $47 million into Aspiration, the company launched by a former speechwriter for President Bill Clinton to chal

Challenger bank Monzo raises another £71M from Goodwater Capital, Stripe and Michael Moritz

Monzo, one of a number of “challenger” banks in the U.K. aiming to re-invent the current account, continues to be on a roll, both in terms of user numbers and now a significant new funding round.

Current raises $5M for its debit card for teens that parents control with an app

Current announced today it has raised $5 million in Series A funding for its debit card aimed at kids that parents can control with an app. The company first introduced its Visa debit to the market in

Jiko raises $7.7 million for debit card with cash back

A lot of startups have been raising money for credit cards and other financing businesses lately. Now Jiko has debit card technology that has convinced Upfront Ventures, Radical Impact, Social Capital

Over 5,000 Wells Fargo ATMs now support card-free access via Apple Pay and other mobile wallets

Wells Fargo’s ATMs are getting an upgrade. The bank announced today that more than 40 percent – or over 5,000 of its ATMs – will now allow customers to perform transactions without h

Chime raises $18 million for mobile banking without the fees

Chime is raising $18 million in Series B financing for its mobile-first approach to banking. It's a bank account and debit card built for the digital age. Without monthly fees or overdraft charges, Ch

10x, founded by the ex-CEO of Barclays, raises $46M to take on ancient banking infrastructure

The fintech revolution continues apace, and while many startups are hoping that newer and better tech will help them take business away from traditional banks, today a company has received a large rou

Zelle, the U.S. banks’ Venmo rival, will launch its mobile app next week

Zelle, the PayPal rival backed by more than 30 U.S. banks, is preparing to launch its standalone mobile app on Tuesday, September 12th. The move is meant to give the U.S. banking industry a foothold i

Square will apply for an industrial loan company license this week

There’s been a lot of questions about whether or not Square aspires to become a bank. Now that speculation can be laid to rest. Square will file an application to become an industrial loan company (

UK’s Tide raises $14M to challenge big banks with a mobile-first service for SMBs

Europe has seen a large wave of startup banks pop up in the last few years — companies like N26, Atom and Monzo that are taking on the big incumbents by creating faster and cheaper services for

There’s a war brewing in Japan, and the banks should pay attention

People often use the term “time machine model” in Japan. It refers to the lag with Silicon Valley when it comes to startups and innovation. When a time machine model gains momentum locally, usuall

Instant bank transfers are coming to PayPal and Venmo

PayPal announced this morning a plan to speed up money transfers between its service, Venmo and users’ bank accounts for those with supported MasterCard and Visa debit cards. This new “ins

Global risk analysis gets an artificial intelligence upgrade with GeoQuant

The global risk analysis used by big banks, hedge funds, and governments to inform their decision-making around everything from foreign currency investment to foreign aid is getting the machine learni

Klarna gets a full banking license, gears up to go beyond financing payments

After Anders Holch Povlsen and his firm Brightfolk bought up a stake of at least $225 million in Klarna earlier this month, today the profitable Swedish payments startup, now valued at over $2.25 bil

Zelle, the real-time Venmo competitor backed by over 30 U.S. banks, arrives this month

The U.S. banking industry’s answer to Venmo has now arrived. Starting this month, a new, person-to-person payments network called Zelle will roll out to the over 86 million mobile banking custom

Current launches a Visa debit card for kids that parents control with an app

A startup called Current is today launching a new way for parents to dole out allowances to their kids: with an app. The company offers a Visa debit card that would allow teenagers to shop in stores

Sequoia-backed startup Empower aims to replace your bank’s app

Empower, a startup looking to help millennials better manage their finances, is today launching its mobile app for iOS devices. The new application combines the ability to see an overview of your day
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