Finance Magnates

MARCH 26, 2023

In 2011, this question was asked on Quora , and I wrote my answer as follows : This is an excellent question and there are many companies who believe they are shaping this answer (predominantly, SWIFT, Visa, Mastercard, WesternUnion, PayPal, and a whole lot of mobile companies). Comparing results after a decade. Well, what do you think?

Cross-Border

Wharton Fintech

NOVEMBER 13, 2023

I started investing in fintech back in 2011. Shaw for a few years and then ultimately was running engineering at Venmo. Peyton was running engineering at Venmo. Venmo became one of Plaid’s first customers after we introduced them to them and they ripped out Yodlee and inserted Plaid. He had worked at D.E.

FinTech

CB Insights

SEPTEMBER 10, 2019

Simple, an early contender founded in 2009, floundered following its 2011 launch before ultimately being bought by Spanish banking giant BBVA in 2014. One mobile payments company that’s closely connected to millennials is Venmo, an app that provides a convenient way to split bills and pay back cash borrowed from friends.

Finance

PYMNTS

SEPTEMBER 19, 2016

WeChat was launched in 2011 by Chinese internet giant Tencent. P2P networks, like Venmo and Square Cash, are used to send money to and from friends inside of those social payments platforms.

Bots

PYMNTS

DECEMBER 13, 2019

When the effects of the Durbin Amendment to Dodd-Frank went into effect in 2011 — and the interchange fees on debit transactions plummeted — issuing banks lost some $14 billion in revenue annually according to estimates in a 2014 Federal Reserve paper. When The Debit Rewards Come Mar ching In . We know now the answer to that question.

Push-to-Card

CB Insights

DECEMBER 4, 2019

That same year, the company acquired TextPayMe , a peer-to-peer (P2P) mobile service that was relaunched as Amazon Webpay in 2011. Webpay failed to gain user traction and was shut down in 2014, unlike up-start Venmo (now a part of rival payments processor PayPal). It’s likely that Amazon was too early to P2P payments.

Online and Mobile Banking

PYMNTS

JULY 1, 2019

When Tencent made the move to mobile and launched WeChat in 2011, it had to persuade QQ users to download and use the WeChat app. Its base was an established network of people who interacted with each other and, among other things, played games, which was Tencent’s main business.

Bots