As a Chicago-based publication, FInTech publishes occasional updates on FinTech news and reports from Chicago's vibrant finance and technology organizations. A Guide to Cannabis Payments Building on success and partnerships in cannabis payments processing, AeroPay published the 2021 Guide to Cannabis Payment Processing Solutions. The startup provides a platform that moves … [Read more...] about Chicago News: Cannabis Payments, FinTech Partnerships, Record VC
Payments
Continuing the Growth of Cannabis Banking
Recreational marijuana is now legal in 16 states - with medical usage legal in 36. It's now a thriving billion-dollar industry in those states -- but it remains in an uncertain position, heavily reliant on cash and with uncertain prospects for banking partners due to the continued federal prohibition. The challenges are more difficult than some industries, to be sure; due to … [Read more...] about Continuing the Growth of Cannabis Banking
China’s Digital Currency and CME’s Bitcoin Micro Contract
This week we feature a guest post from John Browning, founding partner of Hong Kong commodity and financial futures broker BANDS Financial. In reporting on the state of and statistics on the Chinese economy, Browning follows the development by the People's Bank of China (PBOC) of a so-called "digital yuan." We last wrote about it here. The PBOC's effort is gaining enough … [Read more...] about China’s Digital Currency and CME’s Bitcoin Micro Contract
Innovation and Regulation: Building Better International Payments
International trade and commerce are a major piece of the payments industry, with volume only increasing year over year as digital options further connect the globe – and yet, many of the systems that businesses and retail consumers alike rely on to make these payments remain too slow, too complex, and expensive. There’s a growing need to fundamentally rethink the payments … [Read more...] about Innovation and Regulation: Building Better International Payments
Payments FinTech Continues to Rise
PayPal wants to be a "super app." Stripe gets a new valuation from investors of $115 billion. Marqeta, a global card-issuing platform, files for an IPO. All three companies are more evidence of the shift in the payments applications and revenues to technology platforms. Investors are betting on the tech firms. Stripe's payment volumes are relatively small, Forbes … [Read more...] about Payments FinTech Continues to Rise
Digital Transformation Challenges Remain for Banks
The world of payments is going digital. That’s been a story for years, now – and one that took on a new urgency in the wake of a pandemic that demanded real changes to the ways banks do business. But for financial institutions to really achieve the kind of digital transformation that the times demand, they’re going to need more than a website or online balance … [Read more...] about Digital Transformation Challenges Remain for Banks