The Battle for Apple’s Credit Card
Hey FinTech Fanatic!
The competition for Apple’s Credit Card is heating up 🔥, with Visa, American Express, and Mastercard all vying for the spot.
Behind the scenes, Visa has reportedly put $100 million on the table to take the card from Mastercard. 🤯 The reason? Goldman Sachs, the bank behind the Apple Card, is stepping away from consumer lending, opening the door for a new issuer and network.
While banks like JPMorgan Chase and Synchrony Financial are competing to replace Goldman, the real battle is unfolding between the payment networks. Apple is expected to choose a network first—then a bank.
In my last post, I asked for your predictions. Now, you can also vote in the comments of the newsletter post for a chance to win a one-of-a-kind gold card.
Now over to you: Who do you think is gonna win this battle? Vote here!
Let me know in the comments below👇
𝗚𝗢𝗟𝗗 𝗖𝗔𝗥𝗗 💳 GIVEAWAY:
I’m giving away a solid gold card—designed by me, inspired by the Robinhood Gold Card (check the unboxing video), but WAY cooler.
How to win:
1️⃣ Comment your pick: A) Mastercard, B) Visa, or C) AMEX
2️⃣ If Apple picks your choice, I’ll randomly select one winner!
Drop your vote below 👇
Read more global FinTech industry updates below 👇 and I'll be back with more tomorrow!
Cheers,
POST OF THE DAY
🇪🇸 Revolut is gearing up for the rollout of Revolut ATMs, which will soon be launched in Spain as a pilot market. The first devices should be arriving in Barcelona later this week.
INSIGHTS
🇬🇧 Abound’s $1bn deal is the only bright spot as UK FinTech funding halved in 2024. The UK FinTech sector experienced a substantial decline in both deal activity and total funding compared to the previous year, signaling a more cautious investment environment. A total of 323 deals were recorded.
FINTECH NEWS
🌎 CellPoint Digital partners with Kushki to bring seamless, intelligent payments to Latin America. By combining Kushki’s local acquiring power with CellPoint Digital’s orchestration and optimization expertise, they are enabling merchants to simplify their payment setup, unlock new markets, and enhance the customer experience, all through a single connection.
🇺🇸 Visa bids $100m to replace Mastercard as Apple’s new credit card partner. Visa has made a bold push to secure the Apple Card, offering an upfront payment typically reserved for the largest card programs. Read more
🇺🇸 Stablecoin issuer Circle files publicly for IPO as revenue grows. The company reported a net income of $156 million on a revenue of $1.68 billion in 2024, compared with a net income of $268 million on $1.45 billion in revenue the previous year.
🇬🇧 Eurostar introduces Klarna for flexible payments in the UK and France. Customers checking out on Eurostar.com can now choose Klarna’s Pay in 3, allowing them to split the cost of their ticket into three equal, interest-free payments, or Pay in Full for a seamless one-time transaction.
🇳🇿 Laybuy returns, powered by Klarna, combining a trusted Kiwi brand with Klarna’s global expertise. With 93M+ active users and 675K retailers in 26 markets, Klarna enhances Laybuy to make shopping smarter and safer for Kiwi consumers while driving merchant growth.
🇬🇭 Flutterwave launches Send App in Ghana. This milestone marks a significant step towards seamless and secure international remittances, allowing users to receive money from abroad directly into their bank accounts or mobile money wallets (MTN Mobile Money, Telecel Cash, and AirtelTigo Money).
PAYMENTS NEWS
🇸🇪 Mollie launched in Sweden. Mollie is now available for Swedish businesses and is already helping many customers accelerate their sales, reduce costs, and save time with solutions that simplify every payment process. This expansion represents another important step towards achieving the goal of expanding into new markets.
🇬🇧 Ecommpay named as one of the Payments Power 50. Inaugural power list recognises the inclusivity and sustainability credentials of payment platform helping businesses increase financial inclusion. Ecommpay’s commitment to Equality, Diversity and Inclusion (EDI) does not just meet regulatory expectations; it goes further, to build trust and strengthen brand reputation and customer loyalty.
🇬🇧 Solidgate launches Verifi-Powered API for streamlined chargeback management. This collaboration aims to make dispute resolution faster and easier for merchants. With Verifi’s new infrastructure, RDR API enables merchants to instantly accept or decline disputes as they are submitted to Visa by card issuers.
🇲🇽 DEUNA’s new express flow powered by PayPal Vaulting. The integration enables businesses to securely store PayPal credentials and offer a seamless checkout experience. This innovative solution enhances the checkout experience for PayPal users by eliminating unnecessary friction.
🇺🇸 Transcard turns to Agentic AI to streamline B2B payments. The changes to the company’s SMART Exchange are designed to streamline payment interactions between buyers and suppliers, with agentic artificial intelligence (AI) automating onboarding and know your business (KYB).
🇱🇹 myTU introduces Google Pay for secure contactless payments. This new feature enables individuals and businesses to add their debit cards to Google Wallet, making payments more convenient and secure. myTU’s customers can now pay in stores, apps, or online with just their smartphones or other Android devices.
🇬🇧 PayPal announces Ads Solution in the UK, revolutionising commerce media for brands and merchants. The solution enables interested PayPal users to discover relevant brands and products that enhance their shopping experience while also helping merchants grow their business.
REGTECH NEWS
🇨🇦 Santander wins Canadian Banking License amid push into Americas. This allows its subsidiary Santander Consumer Bank, to operate in the country. The bank has been expanding across the Americas, with a focus on the region, and has already established a presence in Canada through a car-financing company.
DIGITAL BANKING NEWS
🇨🇭 Revolut has surpassed one million private customers in Switzerland, marking a significant milestone. The company, which opened a Swiss branch last year, achieved this growth organically through referrals rather than large advertising campaigns. Revolut also said it wants to become the “𝙬𝙤𝙧𝙡𝙙’𝙨 𝙡𝙚𝙖𝙙𝙞𝙣𝙜 𝙢𝙖𝙧𝙠𝙚𝙩 𝙢𝙖𝙠𝙚𝙧,” as the FinTech pushes into territory that was once the preserve of investment banks. The firm has in recent weeks advertised for an algorithmic trader and senior quantitative researcher to join a fledgling division based at its London headquarters.
🇩🇰 Lunar partners with SAS - Scandinavian Airlines, to give the SAS EuroBonus Lunar card a little upgrade. The SAS x Lunar card is a co-branded debit card that allows users to turn their everyday spending into EuroBonus points. Given the high value users place on it, the benefits are now being further enhanced.
BLOCKCHAIN/CRYPTO NEWS
🇦🇪 Digital Assets Firm OKX bolsters global presence with regulatory milestones and technological advancements. The report confirms that OKX maintains a reserve ratio exceeding 100% for its users’ assets, covering major cryptocurrencies like Bitcoin, Ethereum, and stablecoins.
🇺🇸 Mastercard expands crypto capabilities with new services for digital asset users. These initiatives include the expansion of the Mastercard Crypto Credential and the development of a Multi-Token Network (MTN), marking a significant push into blockchain-based financial solutions.
🇨🇦 Kraken secures restricted dealer registration in Canada and appoints Cynthia Del Pozo North America GM to drive the next growth phase. Clients now benefit from a solid regulatory foundation, ensuring access to some of the most innovative and secure crypto products in the local ecosystem under the supervision of the Ontario Securities Commission (OSC).
PARTNERSHIPS
🇮🇳 Paytm partners with Hyderabad civic body to digitize property tax collection. The FinTech firm has deployed over 400 Paytm All-In-One EDC devices (card machines) across collection centers and for door-to-door tax payments. These machines allow residents to pay property tax using credit cards, debit cards, and QR codes.
🇵🇱 Visa and ZEN.COM team up on real-time cross-border payments through Visa Direct. By leveraging Visa Direct, ZEN will be able to offer its customers a seamless and reliable cross-border payment experience. Keep reading
🇬🇧 Wincent selects OpenPayd to power its global payment operations. Through this partnership, Wincent will leverage OpenPayd’s robust global banking and real-time payment network to deliver enhanced fiat capabilities for its institutional client base.
🇺🇸 MoneyGram and Mastercard collaborate to advance digital money movement. Through Mastercard Move, MoneyGram customers can use any U.S.-issued Mastercard card to send funds cross-border to 38 eligible receiving markets and counting.
🇯🇵 Sumitomo Mitsui Financial Group will collaborate with Ava Labs and Fireblocks two American companies to develop a stablecoin. The collaboration will focus on developing a framework for issuing and circulating stablecoins, analyzing regulatory requirements, and identifying practical applications.
DONEDEAL FUNDING NEWS
🇮🇳 Infinity Fincorp secures $40M in extended Series A round led by Beams FinTech. The NBFC said the capital infusion aims to strengthen its loan book and expand its reach across six Indian states, particularly in Tier III towns across Andhra Pradesh, Tamil Nadu, Telangana, Madhya Pradesh, and Rajasthan.
🇬🇧 Ayan Capital raises £25 million in Shariah debt. The funding will fuel Ayan’s continued growth in the £21.7 billion UK used car finance market and accelerate the roll-out of its newly launched lifestyle finance product, Ayan Pay - a 0% car repair and home improvement service.
🇺🇸 Atomic raises $10 million to boost innovation and expansion. Atomic said the new funding will fuel both innovation and expansion. The company plans to deepen its investment in existing solutions while also accelerating the development of new products to better serve its financial institutions and FinTech partners.
M&A
🇺🇸 Circle paid $210m to acquire Coinbase’s stake, IPO filing reveals. The transaction involved transferring about 8.4 million common shares of Circle, valued at approximately $209.9 million. Keep reading
MOVERS AND SHAKERS
🇳🇱 Dutch loyalty startup Loyyo bags funding; appoints Paul Arts as new CEO. Arts, Chief Commercial Officer for over a year, became CEO on January 1, 2025. The latest funding brings the Dutch company’s total investment to over €1M.
🇰🇪 Visa appoints John Njoroge as new Country Manager for Kenya South Sudan & Somalia. In this role, John will drive Visa’s strategic growth, enhance client relationships, and spearhead the expansion of digital payment solutions across the three markets.
🇨🇦 Trulioo names former Nuvei exec Vicky Bindra as new CEO. Looking ahead, Bindra states that his focus at Trulioo will be on accelerating product development and "enhancing our global reach". Read more
🇬🇧 Thredd appoints Simeon Lando as Chief Marketing Officer. With over 25 years of experience in B2B marketing, Lando has led enterprise technology and payments-focused marketing teams at leading companies. His expertise in developing and implementing client-centric marketing strategies will be instrumental in supporting Thredd’s next phase of growth.
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