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Mastercard and BMO are expanding the Canadian bank’s money transfer service.
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The expansion adds new destinations and currencies, allowing BMO’s Canadian personal banking clients to send money to family and friends in nearly 70 places, according to a Wednesday (July 30) press release. The service is powered by Mastercard Move’s global money movement capabilities.
“BMO is...
Expense management startup Ramp is reportedly now a $22.5 billion company.
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The company, which uses artificial intelligence (AI) for financial automation, achieved that valuation after raising $500 million in its latest funding round, The Wall Street Journal (WSJ) reported Wednesday (July 30).
The funds will help Ramp hire engineers, product experts and marketing and...
Conversational AI startup Cognigy is being acquired by Nice, a provider of software in customer experience and compliance, for $955 million.
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Cognigy’s generative and agentic artificial intelligence (AI) systems are used in company contact centers to automate tasks and assist human agents. Its clients include Mercedes-Benz, Frontier Airlines, Bayer, Bosch, Nestle and...
Klarna continues to expand beyond its pay-later roots with new financial services permissions.
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The Swedish FinTech announced Wednesday (July 30) that its British subsidiary Klarna Financial Services UK (KFSUK) has been authorized by the U.K.’s Financial Conduct Authority (FCA) as an electronic money institution (EMI).
This authorization, the company said in a news...
Boost Payment Solutions and FIS have partnered to facilitate accounts receivable (AR) and accounts payable (AP) automation for enterprise customers.
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This collaboration will enable FIS customers to streamline B2B virtual card acceptance by eliminating the manual workflows associated with email-based processing, the companies said in a press release emailed to PYMNTS.
The...
At 2 a.m. on a rain‑slicked interstate, a long‑haul 18-wheeler pulls into a dimly lit fuel island. The driver swipes a decades‑old mag‑stripe “fleet card,” keys in the tractor’s mileage, enters a three‑digit driver ID, then waits while a dot‑matrix printer spits out a curling receipt he’ll drop on accounting’s desk, if it survives the ride.
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That ritual isn’t just a...
About sixty years ago, credit cards changed shopping by solving a simple problem: they let people buy now and pay later anywhere the cards were accepted.
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In the decades that followed, issuers layered on convenience, security and the lure of points, cash back and perks to drive the flywheel of use, adoption and merchant acceptance. Today, credit cards are the most widely...
British FinTech Revolut is reportedly considering the purchase of an American bank.
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That’s according to a report Wednesday (July 30) by the Financial Times (FT), which notes that such a move would allow Revolut to quickly clinch a banking license in the U.S.
Sources familiar with the matter told the FT Revolut was thinking about acquiring a nationally chartered bank,...
Watch more: The Embedded Lending Shift: From Trend to Infrastructure
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Embedded lending can be a key driver for merchants seeking to enhance sales momentum across channels, but they need sophisticated infrastructure that enables sender coordination and optimized approvals for every credit profile.
Meidad Sharon, founder and CEO of ChargeAfter, told PYMNTS as part of the “...
Watch more: Investments in Innovation, Not Macro Panic, Shape Credit Union Roadmaps
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It may be tempting for many financial institutions to retreat into a defensive crouch in the face of an unstable economic and regulatory climate.
But for small lenders and credit unions, today’s changing seas could also provide opportunities.
Velera Chief Administrative Officer Brian...