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Americans Prefer EMV Chip Payment Over Swiping Cards

Bank Innovation

Americans prefer paying with EMV chip cards to swiping their cards or even paying with cash, according to a recent survey from financial technology solutions provider Fiserv. According to the report, released last week, 36% of the people surveyed said they preferred EMV chip cards to other payment methods.

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SoFi To Buy Galileo Financial Technologies In $1.2B Deal

PYMNTS

In a deal valued at over a $1 billion, SoFi said it has inked a definitive deal to buy Galileo Financial Technologies. The firm’s offerings can be accessed through desktop, mobile and a tangible debit card. The online personal finance firm will pay total purchase consideration of $1.2

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Wirecard Teams With Payhawk For Corporate Expense Card Rollout

PYMNTS

To offer businesses a simple way for supervising expenditures, digital financial technology firm Wirecard is teaming with Payhawk to roll out a new Visa card, according to an announcement. The cards will come in both a digital and tangible medium, and managers can supervise budgets in real time.

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Ant Group Curbs Credit Limits Of Some Users Of Virtual Credit Cards

PYMNTS

That arm of the financial technology (FinTech) giant offers a virtual credit card. In the wake of the collapse of its initial public offering of stock (IPO), China’s Ant Group is scaling back the borrowing limits for some of the young users of Huabei. The company did not elaborate.

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Banking startup Chime reports it has 8 million customers

Bank Innovation

is part of a fast-growing class of well-funded financial technology startups offering debit cards, checking accounts and other financial […].

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Virtual-Card Adoption – Not An ‘All-Or-Nothing’ Strategy

PYMNTS

As chief financial officers (CFOs) become more familiar with the opportunities of virtual card adoption, they’re also becoming more well-versed on their biggest challenges. This challenge can quickly lead to discouraged finance teams that abandon the effort to implement a v-card program altogether. Going Touchless. .

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Credit Card Interest Rates Rise To Near-Record Levels

PYMNTS

The average interest rates on credit cards are nearing record levels, in spite of a 50-basis-point decline on a 10-year note yield. However, the distance between an average annualized rate and a prime rate on credit cards is getting bigger; at the end of August, it was almost at its largest amount ever. million in Q2.

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