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Walmart Pushes Omnichannel Shopping with New Tech Incubator

Walmart recently announced another step toward further developing its e-commerce business with the creation of a technology incubator called Store No. 8 to create new retail online businesses as well as help the retail giant better compete against Amazon.com.


Illinois Regulator Joins Global Virtual Currency Consortium

The Illinois Department of Financial and Professional Regulation has become the first U.S. regulatory agency to join the R3 Consortium, a global partnership of banks and other parties working to develop distributed ledger-based applications for financial services. The agency oversees the regulation and licensing of banks and financial institutions, among other businesses, in the state.


Faster Loans for Consumers with Little Credit History? Experian and Finicity Think So.

New underwriting technology developed by Experian and financial data aggregator Finicity could speed up borrowing and enable millennials and other consumers with thin or no credit files to receive money. The product emerges amid a federal call for more work on helping those potential borrowers build credit scores.


On the Wire: U.S. Bank’s Mobile Milestone; College Card Provider Lands Funding; 4 Million P2P Users in a ‘Jiffy’; More

A snapshot of payments-related press releases is available to you throughout the week.


MoneyGram Board Says Company Can Further Consider Euronet Proposal

Money transfer giant MoneyGram can give further consideration to Euronet’s surprise bid to acquire the company from under the nose of Ant Financial, which in January entered a definitive agreement to buy MoneyGram.


Wells Fargo Faces New Pressure from Top Democrat over Fake Accounts

The top Democrat on the U.S. House Financial Services Committee wants to interview executives from Wells Fargo over a scandal about fake accounts its employees set up for customers. Last year, the CFPB announced a $100 million fine against Wells Fargo for what the agency called “widespread unlawful sales practices.” The agency said the fine was the largest such penalty it has ever issued.


On the Wire: Blackhawk Adds to Board; First Data, Synchrony Make Buys; Mitek’s B2B Move

A snapshot of payments-related press releases is available to you throughout the week.


The Buzz: Chase Pay Makes a Mobile Tech Buy; Bancorp Hires for Compliance; Cachet Prices Public Offering; Fintech Gains Capital; More

See what’s hot on Paybefore.com from last week, including the voting for the Compliance Titans of Payments; Chase Pay’s mobile wallet technology buy; an important Bancorp hire; and payment industry investment trends.


Under Renewed Fire, the OCC Moves Forward with its Fintech Charter Plan

The Office of the Comptroller of the Currency is moving forward with its plan to enable fintech companies to become special purpose national banks (SPNBs), releasing a licensing manual draft supplement which provides guidance on how the OCC “will apply the licensing standards and requirements in its existing regulations and policies to fintech companies applying for [SPNB] charters“ and another document that summarizes public comments about the plan to allow SPNBs for fintech companies. The special purpose charter has no shortage of critics, but perhaps the most vocal—New York State—has turned up the dial on its opposition.


Flywire Crosses into New B2B Payment Verticals

Cross-border payments specialist Flywire is expanding beyond tuition and health care payments to offer B2B payments in several new segments, including travel, luxury goods, publishing, import/export, business/professional services and technology. Flywire already has several deployments of its new services underway, the company tells Paybefore.

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