Today In Payments: Mastercard Introduces End-User Request To Pay Framework In UK; TrueLayer Notches $70 Million

In today’s top news, Mastercard is launching an end-user application for the U.K.’s request to pay framework, and TrueLayer raised $70 million to expand its open banking network. Plus, Plaid is now valued at $13.4 billion.

Mastercard Introduces End-User Request To Pay Framework In UK

Mastercard is launching an end-user application service within Pay.UK’s request to pay (R2P) framework to facilitate payments, which makes it easier for customers and businesses to pay bills directly without the need for a traditional invoice. The solution also offers companies a fast way to introduce their own custom tools.

London FinTech Startup TrueLayer Notches $70 Million Series D

London FinTech TrueLayer raised $70 million in a Series D funding round to help the London startup advance the international expansion of its open banking-based network and introduce new products.

Plaid Raises $425 Million Series D At $13.4 Billion Valuation

FinTech infrastructure startup Plaid raised $425 million in a Series D funding round, putting the company’s valuation at $13.4 billion. This is its first funding since its $5.3 billion sale to Visa was blocked.

Instacart And DoorDash To Launch Credit Cards

Instacart and DoorDash are both planning to roll out credit cards to engage users and attract new customers. Instacart will be working with J.P. Morgan for a new card that plans to reward frequent users. DoorDash has received offers from 10 banks or FinTechs to help with its card.

Jeweler Kendra Scott Leverages AI To Fight Fraudsters

Reputation is everything for jewelry merchants, and their credibility can lose its luster if artificial intelligence (AI)-equipped fraudsters aren’t preemptively stopped. In this month’s Digital Fraud Tracker, Jim Dunlap, chief information officer of jewelry and home goods retailer Kendra Scott, explains how the jewelry merchant taps AI-based anti-fraud measures and human analysis to cut through informational noise and curb malware.

Mastercard: Consumer Spending Healthy, Poised to Accelerate With Confidence

The headline numbers in Mastercard’s Spending Pulse report show a huge increase from the dark days of March 2020. As Mastercard Senior Adviser Steve Sadove told PYMNTS, consumer confidence will play a big role in what he sees as a bright, short-term economic outlook.

J.P. Morgan’s Dimon’s Letter: Big Tech, FinTech Present Competitive Threat To Banks

J.P. Morgan Chase CEO Dimon’s latest annual letter to shareholders details the challenges and opportunities that lie ahead for the bank — from grappling with Big Tech’s forays into financial services to embracing AI as a competitive tool. Here are some key takeaways from the letter.