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- Cardworks Inc. and its banking unit, Merrick Bank, have agreed to acquire Ally Financial Inc.’s credit card portfolio. The business includes $2.3 billion in receivables and serves 1.3 million active cardholders. Terms were not announced.
- The card-issuing platform Marqeta Inc. is supporting efforts by Trading 212, a developer of financial apps, to launch its debit card in 20 European countries.
- Mesta, a fintech offering payment rails for fiat and stablecoin transactions, launched a cross-border payments platform to solve what it calls “inefficiencies” in global payments. Since launching 12 weeks ago, the platform has processed $12 million in volume.
- U.S. Bank launched an ad campaign for the Smartly Visa Signature Card. The campaign, which features former NFL quarterback Peyton Manning, began with a commercial during the College Football Playoff National Championship game on Monday. The credit card carries no annual fee and offers cash back with no limits on spending when issued on a U.S. Bank savings account.
- The card-issuing platform startup Highnote raised $90 million in Series B funding in a round led by Adams Street Partners. The company, reportedly now valued at more than $750 million, launched in 2020.
- StoneEagle, a software provider for car dealerships, has integrated services from ConnexPay, a payments-technology provider.
- Payments provider PayBright appointed acquiring-industry veteran Thad Sheffield as its first director of agent success and experience.
- Bank-payments specialist Brite Payments has appointed George Park Davie vice president for product. Davie comes to the company from Klarna AB.
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