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- The Huntington National Bank launched a secured credit card offering 1% cashback rewards and no annual fee. Secured cards require cardholders to make a one-time, refundable deposit to back activity on the card.
- Mastercard Inc. and BOK Financial Corp. expanded their agreement making Mastercard the exclusive payments network in BOK’s debit and commercial portfolios and extended the relationship with BOK’s TransFund processing business. BOK is parent of the Bank of Oklahoma and others.
- In related news, Mastercard’s Start Path Small & Mid-Sized Business program has added Quartix, a digital provider of supply-chain finance. The Start Path program, which last week announced 15 new participants, is aimed at assisting fintechs with startup challenges.
- Higlobe Inc., a fintech specializing in cross-border payments, is working with Triple-A, a payments platform specializing in digital currency, to allow U.S. employers to pay freelance workers in the Philippines with stablecoins pegged to the U.S. dollar.
- Reap, a blockchain platform based in Hong Kong, said it is working with Chainalysis, a U.S. provider of data and risk-management services for digital-currency platforms, to monitor transactions and identify fraudulent activity. Illicit cryptocurrency activity generated at least $24.2 billion in value for cybercriminals in 2023, according to Chainalysis.
- The Electronic Transactions Association released its 2024 policy priorities, which encompass artificial intelligence, digital assets, open banking, and privacy.
- Eighty percent of individuals receiving a payout from a class action lawsuit settlement prefer a digital payout over a check, found the Winter 2024 Legal Services and Class Action Payments Survey released by Onbe Inc., a disbursements fintech.
- Cogitate Technology Solutions, a technology platform for the insurance industry, said it is working with ePayPolicy, a payments service specializing in automated clearing house and credit card processing, to offer a wider choice of methods for premium payments.
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