In today’s FinTech news, U.S. Bank and Apex Fintech Solutions partner for faster payments, while Funding Circle Co-Founder Samir Desai raises $30 million.
US Bank Crafts Real-Time Payment Collaboration With Apex FinTech Solutions
U.S. Bank and Apex Fintech Solutions are teaming up to offer greater speed and security to move money between investors and brokers. The two companies have been collaborating to develop a solution for frictionless payments for individual investors from their broker dealer’s app or website.
Funding Circle Founder Raises $30M to Disrupt Payments Giants
Funding Circle Co-Founder Samir Desai is launching a new payments startup — Super Payments — and has locked down $30 million in funding from high level investors like Accel Partners, Local Globe and Union Square Ventures. The new venture has a pre-money valuation of $60 million and aims to disrupt legacy players like Visa and Mastercard.
BNPL Firm Zip Co Pledges More Conservative Lending
Buy now, pay later (BNPL) firm Zip from Australia is looking to slash $22.5 million in overhead as shares plummet. The firm pointed to bad debts as a major sticking point. Co-Founder and CEO Larry Diamond said the company is pushing toward profitability by 2024.
RecargaPay on How Pix Propelled Brazil Into the Global Digital Payments Spotlight
The government in Brazil launched an instant payment system called Pix last year in an effort to advance digital payments. Despite the rocky transition from mixed payments to digital-first, the effort has paid off, Rodrigo Teijeiro, founder and CEO of Brazilian FinTech RecargaPay told PYMNTS.
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