Today In Payments: DOJ Approves Mastercard’s Finicity Acquisition; Airbnb Files For IPO
In today’s top payments news, the Department of Justice approved Mastercard’s acquisition of Finicity, and Airbnb filed for an IPO that could value the company at $30 billion. Plus, Amex and PayPal partner to give users the ability to send money and split purchases directly from the Amex app.
Mastercard’s $825 million move to acquire Finicity, which provides access to financial data in real time, is inching ahead after the deal gained the approval of federal regulators.
Airbnb filed paperwork with the U.S. Securities and Exchange Commission (SEC) on Monday (Nov. 16) for an initial public offering (IPO) that will reportedly value the travel giant at some $30 billion.
American Express cardholders can now use Amex Send & Split to send money to any PayPal or Venmo user directly from the American Express app. Customers can also split purchases with other users on PayPal and Venmo and receive the credit directly back to their card.
Germany’s Razor Group, which works to acquire and scale Amazon brands, has raised 25 million euros (about $26.7 million) in a new funding round. The company’s portfolio could grow from two to eight stores by the end of the year, and is “aiming for 30 stores” next year.
Almost 120 million U.S. consumers actively use mobile banking apps, but another 43 million shy away from doing so because they believe banking apps’ security falls short. However, giving banking customers more control over apps’ authentication procedures can boost confidence and drive engagement. PYMNTS’ latest Mobile Banking App Report: Tapping Authentication to Boost User Engagement has the details.
The static CVV code is getting an upgrade. Visa and Keyno have pioneered a new effort called ‘dCVV2’ to serve dynamically generated security codes to fight card-not-present fraud. Keyno CEO Robert Steinman; Tom Rapkoch, Visa’s director of global chip product; and Ben Maxim, assistant vice president of digital strategy and innovation at Michigan State University Federal Credit Union tell PYMNTS that they believe the new system can be effective.
The vaccine is close. The demand is there. But the teams and companies that run the world’s sports leagues and concert tours are running on a week-to-week basis in the hopes that a live event breakthrough is near.