Visa introduced the Visa+ service in April last year to bridge the gap among various apps in the peer-to-peer (P2P) payments space, allowing for real-time payouts to participating digital wallets. At the time, Visa+ outlined plans to make the service widely available to Venmo and PayPal users in the US by mid-2024. Expanding on last year’s announcement, the recent development marks the official [consumer] launch of the service with inaugural partners PayPal, Venmo, and DailyPay. “Visa+ will continue rolling out with participating platforms in the US throughout 2024, flexing our Visa+ capabilit ..read more

J.P. Morgan Payments has recently expanded its suite of embedded banking solutions to offer clients a wider range of banking capabilities and support ecosystem growth. Embedded banking involves integrating banking services like payments, lending, and account management directly into non-banking platforms. This enables the provision of financial services within things like commerce platforms, and streamlines transactions among businesses, contractors, and end users. Similarly, JPM’s embedded banking solutions encompass APIs, digital onboarding processes designed specifically for small and mediu ..read more

Expectations for instant gratification permeate many aspects of consumer behavior. This extends beyond products or services to payments, where consumers expect swift, hassle-free processes that align with their fast-paced lifestyles and the convenience of modern technology. With Capital One’s acquisition of Discover on the horizon, I spoke with Judith McGuire, SVP of Global Products at Discover Global Network, about the evolution of the payments industry over the past decade, how Discover is adapting to meet consumer demands in payment processing, and her journey as a woman executive in paymen ..read more

While women make up nearly half of the global population, amounting to 4.04 billion individuals, their representation in C-suite positions within the financial services sector globally stands at 18% as of 2023. Despite their minority presence in the financial sector, women leaders have played pivotal roles in shaping the evolving payments industry over the last decade. From embracing digital advancements to leveraging technology, adapting to changing consumer demands to navigating regulatory complexities, they have consistently risen to the occasion. To commemorate March’s International Women ..read more

Shout out to our sponsor This article is brought to you by StrawberryFrog.  StrawberryFrog has been hailed as the very best in creative marketing, innovations, and transformation for financial brands worldwide. Working with iconic names like Morgan Stanley, Truist, First Abu Dhabi Bank, and many others, they’ve set the standard for excellence. See how StrawberryFrog launched a unique name and brand for First Abu Dhabi Bank, inspiring employees and igniting a nation and its people to Grow Stronger. View the case study It seems like $1 trillion is the new hot number. Recently Zelle sai ..read more

Shout out to our sponsor This article is brought to you by StrawberryFrog.  Join Scott Goodson, CEO, StrawberryFrog, Chip Walker, Head of Strategy at StrawberryFrog and Zack Miller, Tearsheet’s editor as they dive into the dynamic world of financial marketing and transformation. As leaders in innovative marketing, they’ve collaborated with iconic brands like Morgan Stanley, Truist, Bank of America, and more. Go to tearsheet.co/strawberryfrog to learn more. It seems like $1 trillion is the new hot number. Recently Zelle said that it is on track to reach the $1 trillion payme ..read more

Shout out to our sponsor This article is brought to you by StrawberryFrog.  Join Scott Goodson, CEO, StrawberryFrog, Chip Walker, Head of Strategy at StrawberryFrog, and Zack Miller, Tearsheet’s editor as they dive into the dynamic world of financial marketing and transformation. As leaders in innovative marketing, they’ve collaborated with iconic brands like Morgan Stanley, Truist, Bank of America, and more. Go to tearsheet.co/strawberryfrog to learn more. March marks International Women’s Day, highlighting women’s integral role in various spheres. This role is now also ex ..read more

by SARA KHAIRI Online money transfer provider, Remitly, is striking the right chords with its growth strategies, as evidenced by its strong performance in the final quarter and full-year results of 2023. Source: Remitly In comparison to the fourth quarter of 2022; active customers increased 41% to 5.9 million, revenue soared 39%, and totaled $264.8 million, while net loss was $35 million, compared to a net loss of $19.4 million. Among the highlights of the results was the company’s announcement of its inaugural positive full-year adjusted EBITDA figures, achieving an adjusted EBITDA margin of ..read more

Google is shuttering its Google Pay app in the U.S. announcing that its users will have until June 4th, 2024 to move their funds.  This news is less about removing functionality, and more about migrating it. After June 4th, Google Pay users will be able to use the Google Wallet app instead for their payments.  While the company’s announcement doesn’t mention a specific reason for this change, the text’s language does give a few hints as to what their reasons may be.  Simplification: Google claims the sunsetting of its Google Pay app, which operated separately from Google Wallet ..read more

Simon Khalaf is CEO of Marqeta. Gen Z has completely changed the narrative for many aspects of our society, including how they approach work and communication – as I know well, thanks to my own teenage daughter teaching me an entirely new vocabulary. Gen Z has also made a profound impact on the financial landscape so far. Contrary to common stereotypes, Gen Z exhibits a high level of fiscal responsibility and aversion to accumulating debt. Additionally, many GenZers put an emphasis on experiences rather than material items, while also holding brands to a higher standard than previous generatio ..read more