Hey FinTech Fanatic!
While Apple has made no official statements about discontinuing its collaboration with Goldman Sachs, the signs point towards a search for a new ally in the fintech arena.
The catalyst for this speculation was a job posting by Apple Processing LLC, a subsidiary focused on payment solutions.
Although the post has since been removed, its cached version revealed a crucial detail - a collaboration with Pismo.
Pismo, a relative newcomer in the FinTech world, was acquired by Visa for a whopping one billion dollars in June last year.
The company is renowned for its cutting-edge banking and card technologies. Its standout feature is a cloud-native API that supports a wide array of financial services, including Visa and Mastercard integrations, digital wallets, and loan provisions.
The potential partnership between Apple and Pismo could mark a significant shift in Apple's approach to financial services.
Pismo's advanced technological infrastructure and its experience in card issuance could provide Apple with the tools to expand and enhance its financial product offerings.
However, the possibility of Apple Card's issuance in the Brazilian market through Pismo remains uncertain. Apple's strategy has always been marked by careful deliberation and a tendency to test waters before diving in.
This potential move could be part of a broader strategy to diversify its financial services portfolio and reduce dependency on a single partner.
Who do you think will be the next partner for Apple? Let me know in the comments!
Finally I'd like to share a fun fact. I shared an interesting guerrilla marketing campaign by Revolut recently, and I have the impression they did it again 🤣 Check out the "Post Of The Day" below to see where people seem to use the Revolut banking app for👇 NOTE: This is no relationship advice.
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POST OF THE DAY
The popular mobile banking app Revolut is now being used for a completely different reason by some people – to message their lovers behind their partners’ backs 🤣 More here
Mangopay brings seamless payment experiences to Maisons du Monde. Mangopay's modular payment infrastructure aims to deliver a seamless transaction experience for Maisons du Monde’s platforms, mitigating risk and fueling global growth.
🇧🇷 Revolut and Bexs identified 61% of Brazilians that travel abroad still use cash. The information is part of a study developed to understand the behaviours of Brazilian travellers when it comes to financial products for international travels. Read complete article
🇨🇦 Nuvei enters global payments partnership with Microsoft to deliver leading payment experiences for customers of its products, solutions, and services across many of its key markets. More here
🇧🇷 A recent study by Visa reveals a significant shift in the business landscape of Brazil with 58% of small businesses preparing to operate entirely without physical cash within the next two years.
Adyen and Klarna extend global strategic partnership. In this new partnership, Klarna will benefit from Adyen’s acquiring capabilities to simplify card payments for Klarna's 150 million consumers and 500,000 retail partners globally.
OPEN BANKING NEWS
🇺🇸 Banked builds a US presence. The fintech, founded in the U.K. and now building up operations in the U.S., expects its pay-by-bank services for bank clients will eventually lure retailers.
DIGITAL BANKING NEWS
🇬🇧 Starling's Engine partners with GFT for B2B SaaS push. The SaaS business has partnered with Stuttgart-based consultancy GFT as it looks to scale up its client roster. The bank bets on tech to boost growth as much-anticipated IPO looms, hopes to make technology “increasingly significant” to its business model as it ramps-up international expansion ahead of an IPO.
Standard Chartered rolls out BNPL option to consumers across Apac. The bank is activating Visa's network-based Instalment Solution to convert existing credit lines into multiple interest-free BNPL options at the checkout.
🇬🇧 UK MPs urge caution on creation of digital pound. UK parliamentarians on the cross-party Treasury Committee have urged the Bank of England to address data privacy and financial stability concerns before considering the implementation of a digital pound.
🇬🇧 Allica Bank signs with Wise to provide UK businesses with a transparent and low-cost way to send money internationally. This is a significant step for Allica’s business customers with ambitions for international expansion. Read on
🇸🇦 D360 Bank launches waitlist for new digital banking experiences. This waitlist serves as a gateway to a world of benefits including a new set of advanced digital banking services with innovative features tailored to meet the evolving needs of banking customers.
Mastercard and MDP team up in Middle East and Africa. This collaboration will transform MDP into an innovative one-stop-shop processing services hub, integrating Mastercard’s digital assets and white-label applications with the payment processor’s products.
🇦🇷 Ualá has launched a Mastercard credit card in Argentina. This card, available in both physical and digital formats, aims to increase access to credit. This launch is significant in a country where 60% of the adult population lacks a credit card, according to the Central Bank of Argentina.
🇵🇭 Philippines security regulator warns Binance is operating without a license. In a notice, it stated that Binance is not authorized to sell securities and is actively promoting crypto trading to Filipinos on social media, an offense with potential criminal liability for the promoter.
🇧🇷 Brazilian Bank Itau launches Bitcoin trade services. Itau Unibanco jumped into the crypto business amid the surging popularity of Bitcoin ahead of the Bitcoin bull rally. Reuters recently reported that the bank launched its Bitcoin & Ethereum trading platform for the clients.
DONEDEAL FUNDING NEWS
🇺🇸 January closes a $12 million series B to help Americans get out of debt. The current round follows January’s $10 million Series A fundraise in 2022. January is a fintech company humanizing debt collection, helping borrowers regain financial stability while driving creditors to modernize collections.
MOVERS & SHAKERS
🇺🇸 PayQuicker appoints Gabriel Grisham as Senior VP of Global Sales for Payouts OS. Grisham will scale the reach of Payouts OS into untapped industries and broaden its reach in global markets.
🇸🇪 Klarna freezes hiring as chief bets AI can do the job instead. Klarna has frozen hiring and plans to shrink its workforce as its chief executive bets that more jobs will be carried out by artificial intelligence (AI) in the future.
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