Marc Andreessen’s Rx For Financial Services -
Meanwhile the startup & technology world continues to innovate
Regulators Stop H&R Block Bank Sale -
Regulators show no signs of reversing their severely conservative attitude toward banks in the US.
Kabbage Aims To Konquer Konsumer Loans With Karat -
Kabbage is branching out from the merchants in search of working capital where it built its original business and is now looking to individuals looking for personal loads. The new service for those potential consumers is Karrat, and the will toss the Atlanta-based start-up into the increasingly crowded world of P2P personal lending. This ground is currently staked out by players such as Lending Club and Prosper Marketplace.
Wow. Did not see this coming. Kabbage is trying to do A LOT all at once.
I was reading Klarna Announces U.S. Team As It Plans For 2015 Launch In The U.S. on TechCrunch and thought you might be interested in reading it too.
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The rumors are getting louder and louder that the iWatch will have a screen. While my no-screen prediction for the iWatch is likely wrong, I can’t say that I’m that disappointed. This device should be absolutely fascinating to see. I’m particularly interested in see the non-obvious use cases Apple lays out as well as the UX between the iPhone and the iWatch. This is one of those rare times in tech where there’s just so little known. Watching the keynote unfold will be like Christmas morning for this geek.
From Dan Primack today:
Update #3: Yes, you just read that correctly: KKR participated in a pure venture capital deal. Sure it’s later-stage, but it’s certainly not a buyout. You may recall that we wrote in January about how KKR was considering the launch of a tech growth equity investing platform, and it seems that the consideration gave way to execution. Not only has KKR backed FanDuel, but it also invested £100 million into British online retailer The Hut Group back in June, and today said that it was plugging $90 million into luxury smart home technology company Savant Systems. — http://fortune.com/2014/09/03/term-sheet-wednesday-sept-3/
Is Amazon Quietly Getting Into The Lending Business? | PYMNTS.com -
It’s no secret that following the trail of hiring announcements can often signal the strategic directions of a company. The more quiet the announcement, the more it tends to reveal. With that in mind, a LinkedIn update recently showed Nick Talwar, until recently the Senior VP of Visa’s North American credit card unit, has move to Amazon as general manager of Amazon Lending.
We’ve known for a while Amazon has been lending to merchants on their platform, but will they move into consumer credit? I’m not sure why they wouldn’t run an experiment acting as a non-bank consumer lender. Should be an interesting one to follow especially as Apple enters the payments fray in a meaningful way.
Apple Partnering With American Express On New iPhone Payments System -
Apple has reached an agreement with American Express to work together on its new iPhone payments system, according to sources familiar with the talks. American Express is one of several partners Apple will need to sign up before it can launch its new payments plan, which sources say it plans to announce at its September 9 product event.
Apple’s new payments system is expected to let iPhone 6 owners use their phone in place of a credit card or cash to pay for goods in brick-and-mortar stores. Customers will present their phones at the checkout counter of partnering retailers to transmit payment information to complete a purchase. It’s not clear which retailers have signed on to accept such payments.
If true, this is a pretty big deal. Sept 9 will be a huge day.
Klarna, an Online Payment System Popular in Europe, Eyes Global Expansion -
The company recently hired its first employee in the United States and hopes to become available in America early next year, according to two people with direct knowledge of the matter, who spoke on the condition of anonymity because they were not authorized to speak publicly.
Some interesting news that Klarna is exploring coming to this side of the pond. I suspect they’ll initially start with a very limited roll out as online lending models are very sensitive to the population they have been trained on and the US differs significantly from the Nordics and Western Europe.
Twitter Working With Payments Startup Stripe on Commerce Plan