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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 I think it’s very powerful.”.

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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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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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New EU Card Rules Could Confuse Customers

PYMNTS

The European Union has issued new rules for contactless payments, which has caused confusion and forced one digital bank to issue new cards, according to a report in the Telegraph. If a customer goes over that limit on several card payments, then they’ll have to enter a pin. The move could potentially affect 57 billion euros ($62.4

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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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24 Big European Banks Take On Visa, Mastercard With Their Own Payment System

PYMNTS

PEPSI promises to rival not only the two credit card giants, but also other financial technology companies including Google , Apple , Alipay and WeChat Pay. . In 2011, PYMNTS reported on the Monnet Project , where two dozen European banks from seven countries considered starting a new European card system.

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