The fintech company's CFO Amrita Ahuja said bringing banking capability in-house will enable the company to “operate more nimbly.”
The flotation of the online lender extends "a frenzied run of tech IPOs dating back to the second half of last year."
As developments in fintech continue to emerge, Chinese regulators have become increasingly worried about finance being overshadowed by technology.
Beam allegedly made false promises to users of its app that it would provide them with 24/7 access to their funds and substantial interest rates.
The proposed transaction is being reviewed over antitrust concerns.
The bank’s QuickAccept service allows businesses to take card payments with no fee, and sales will hit their Chase accounts on the same day.
The deal "accelerates our plans to offer U.S. small businesses an easy and efficient way to manage their payments and cash flow digitally in one place."
The company said the approval was “a significant step in [its] application process for a national bank charter.”
The deal gives Visa access to software that fintech app developers use to interface with customers' bank accounts.
The company "is betting that by building out its financial ecosystem, it can keep drivers and riders loyal to its platform."
“The most difficult part in the entire market is that there is no standard.”
Using data-focused underwriting principles, FarmTogether provides investors fractional ownership of agricultural land that’s then leased out to farmers.
