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October 1, 2021

On the web

Card Issuers Resisted Slashing Credit Limits During Pandemic: CFPB

American Banker

“In a shift from the previous U.S. economic crisis, credit card issuers last year mostly avoided clamping down on their existing customers’ borrowing limits, according to a new report from the Consumer Financial Protection Bureau. The report, one of the most extensive analyses of credit card trends during the pandemic, found a significant tightening of credit availability as lenders lessened their appetite for new business. But the stricter credit criteria mostly appeared to affect potential new customers rather than existing ones, the CFPB’s biennial report to Congress on credit cards indicated.”

August 23, 2021

On the wires

July 29, 2021

On the wires

 Marqeta To Power Virtual Google Pay Balance Card

Marqeta , the global modern card issuing platform, announced today that its modern card issuing platform will power the new virtual Google Pay balance card. The new virtual Google Pay balance card, powered by Marqeta, allows users to easily spend their Google Pay balance through a virtual card tokenized into a mobile wallet and used at accepting merchants.”

July 16, 2021

On the wires

Secure Account-Linking And Streamlined ACH Transfers Via Plaid

“Lithic is excited to announce that we are doubling down on our commitment to building a first-class issuing experience for developers by partnering with Plaid . By connecting to over 11,000 financial institutions across the US, Canada, and Europe, Plaid’s platform powers the digital tools that millions of people rely on to improve their financial lives. This integration will help streamline ACH payments and card loads for Lithic API Issuing customers, who can use Plaid Link to instantly connect customer bank accounts to load funds or initiate ACH transfers.”

July 14, 2021

On the wires

Marqeta and Payfare Enter Into Strategic Partnership

“Marqeta (NASDAQ: MQ ), the global modern card issuing platform, and Payfare (TSX: PAY), a leading fintech powering instant payout and digital banking solutions for contract workers, today announced a strategic partnership to expand the reach of Payfare’s platform across the global gig economy.”

November 21, 2019

On the web

Galileo Teams With Mastercard to Offer Instant Debit Cards Across a Wide Range of Industries

Digital Transactions

“The trend toward faster payments involves several dimensions, one of which is faster card delivery to a wide array of sponsors and users who until now had little or no access to cards branded by a global network. Galileo Financial Technologies Inc. said Thursday its offering that capability with an instant-issuance service for Mastercard-branded debit cards. The cards, aimed at a markets ranging from gig workers to merchants to businesses looking for better ways to manage payroll, are available as digital or plastic versions. The former can be put into users’ hands within minutes, the latter within a matter of a few days, says Clay Wilkes, chief executive of Salt Lake City. Utah-based Galileo.”

November 19, 2019

On the wires

Brex Automates Corporate Credit Card Issuance With First-Of-Its-Kind Integration With Rippling

“Brex, the corporate credit card that accelerates entrepreneurs and scaling businesses, today announced a first-of-its-kind integration with Rippling, the all-in-one employee management system that centralizes payroll, benefits, computer, and app management for businesses. This integration makes Rippling the first HR platform that allows companies to automatically issue corporate cards to new employees as part of their onboarding process, and automatically disable cards during their offboarding process, making corporate card management easier and reducing the administrative burden across teams.”

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