Meta, the parent company to Facebook and Instagram, announced the launch of its cross-platform payments system, Meta Pay, on Instagram. Meta said that 1 billion users message a business on one of its apps every week.
Read MoreAmazon announced that it’s acquiring 1LifeHealthcare Inc., the parent company of primary-care network One Medical, for $3.9B. The health practice has 180 offices and offers benefits to employees at more than 8,000 companies.
Read MoreIn an interview with The Financial Revolutionist, Ubiquity COO and Co-Founder Sagar Rajgopal describes the bidirectional benefits of outsourcing, provides examples of the insights customer-experience experts can offer fintechs, and outlines the future of outsourcing in the face of volatility.
Read MoreOver the past twelve months, the average interest rate for a savings account has risen from .06% to .1%. Fintechs like Save and Fair are offering “alternative” savings accounts with supposed annual yields around 4%.
Read MoreThe European Union General Court ruled that Brussels has the authority to regulate the merger between US biotech groups Illumina and Grail. Grail has no commercial presence in Europe and its operations are primarily in the US.
Read MoreIn an interview with The Financial Revolutionist, Co-Founder and CEO of ForwardAI Nick Chandi outlines the market need ForwardAI addresses, describes the competitive dynamic between accounting platforms and banks, and envisions the future of SMB financial advisory services.
Read MoreAccording to a report by CB Insights, global startup funding fell by 23% in Q2 2022 from Q1, including by 25% in the US. However, US-based VCs raised a record-breaking $73.8B in Q1.
Read MoreRental fintechs have reported increased demand for their services, including cashback on rent payments or discounted rent, due to rising rental prices and inflation. Rent has increased by 11.6% over the past year, according to Harvard University’s Joint Center for Housing Studies.
Read MoreEconomist and New York Times columnist Paul Krugman argued that the US economy has exited an inflationary period. Citing the Federal Reserve’s economic data, Krugman said inflation has sharply decreased since March 2022.
Read MoreTo Len Covello, Co-Founder and CTO of Engage People, a Toronto-based loyalty network that connects loyalty programs with payment systems and retailers to let consumers pay with points at checkout, the future of payments leverages a fully-backed digital currency: the rewards point.
Read MoreIn an interview with The Financial Revolutionist, Jane Podbelskaya, Principal at Information Venture Partners, suggests economic fundamentals will help early-stage fintechs weather upcoming volatility, and will make them capable of sustained growth under any economic conditions.
Read MoreA recession is defined as a “significant decline in economic activity that is spread across the economy and lasts more than a few months.” The uncertainty of the term, as well as improving supply-chain conditions in the auto industry, suggest a slump isn’t inevitable.
Read MoreSamsung announced that it’s merging its Pay and Pass apps into Samsung Wallet, a single, integrated platform for financial products, official documents, home and car keys, and more. Users in France, Germany, Italy, Spain, the UK, and the US are the first to have access to the updated service.
Read MoreThe Netherlands Authority for Consumers and Markets (ACM) said Apple will comply with a ruling that requires the computing giant to allow other payments methods for dating app purchases. Penalty payments surrounding the case totaled €50M.
Read MoreDigital payments company MFS Africa acquired US-based Global Technology Partners (GTP), a card-issuing startup, which will let MFS issue virtual debit cards to its customers. MFS Africa paid $34M for GTP through cash and shares.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
