PayPal expands partnerships with Citi and Chase to include reward points and more

 PayPal today announced an expanded partnership with two of the largest bank issuers, Chase and Citibank. The agreements include a number of increased integrations between the companies, including easier access to Chase and Citi bank cards in the PayPal wallet; permitting Chase and Citi customers to take advantage of cards’ rewards points anywhere PayPal is accepted; integrations with… Read More

UK’s digital-only Starling Bank adds Apple Pay support

 Digital-only UK “challenger” bank, Starling Bank, has added support for Apple Pay — meaning its customers can now add their Starling debit card to their Apple Wallet and make contactless payments drawing from funds in their Starling account via their Apple devices. Read More

Jefferies gives IBM Watson a Wall Street reality check

 IBM’s Watson unit is receiving heat today in the form of a scathing equity research report from Jefferies’ James Kisner. The group believes that IBM’s investment into Watson will struggle to return value to shareholders. In recent years, IBM has increasingly leaned on Watson as one of its core growth units — a unit that sits as a proxy for projecting IBM’s… Read More

The Lemonade insurance social experiment results in $53K donation in year one

 Lemonade has raised $60 million to date with the thesis that insurance companies can cut costs and automate more of their processes if they can somehow incentivize users to act less selfishly and commit less fraud. Traditionally insurance companies take the spread between premiums and claims as profit, but Lemonade aims to donate unclaimed premiums to charity once a year in a… Read More

Snap falls below its IPO price for the first time

 Oh Snap. The Snapchat parent had a difficult day on the stock market, closing at $16.99. It’s officially fallen below its $17 IPO price for the first time. This is significant because it means that overall, public investors have lost money on the company since its March IPO. A money-losing reputation can be hard to recover from. But for employees and pre-IPO investors, not all hope is lost. Read More

Will Blue Apron’s rebound continue?

 Cooking kit delivery company Blue Apron traded up 3.5% on the stock market Monday, erasing some of the losses from its first two days as a public company. Shares closed at $9.67, which was still beneath last week’s $10 IPO price. This is in contrast to a lot of public debuts, where companies are typically in the green for the first day “pop.” It’s the subsequent days… Read More

Worldpay, valued at $10B, confirms JPMorgan and Vantiv are trying to buy it

 Some consolidation is underway in the world of payment processing: Worldpay — the giant company that says it processes 31 million mobile, online and in-store transactions daily and competes against the likes of PayPal, Stripe, Square and more in payment processing — is on the block. Today Worldpay confirmed in a statement to the London Stock Exchange, where its shares are traded,… Read More

Cross-border payment startup InstaRem eyes IPO in 2020 after closing $13M Series B

 Cross-border payment startup InstaRem has raised $13 million in new financing as it looks to expand its business, which is rooted in Asia, into Europe and North America ahead of an eventual public listing as soon as 2020. The Singapore-based startup said the raise was led by China’s GSR Ventures, an early investor in Didi among others, with participation from Japan/Netherlands… Read More

UK’s Tide raises $14M to challenge big banks with a mobile-first service for SMBs

 Europe has seen a large wave of startup banks pop up in the last few years — businesses like N26, Atom and Monzo that are taking on the big incumbents by creating faster and cheaper services for a new class of consumers as they grow up and enter the working world. Now a startup has raised a sizeable Series A to tackle what it believes is a similar opportunity in the small business… Read More