All posts tagged: capital

Zūm Rails takes in first capital to launch new banking-as-a-service, FedNow offerings

Zūm Rails takes in first capital to launch new banking-as-a-service, FedNow offerings

The adoption of open banking and instant payments is moving slowly in the United States compared to other markets around the world, for example, Brazil. That said, the new program FedNow went live in July 2023, and data-sharing regulations are forthcoming, so more potential is on the horizon. Until then, the co-founders of Zūm Rails say the experiences consumers have with payments continues to be fragmented, meaning companies have to create a tech stack to provide a wide range of services to their customers. The Montreal-based company is taking the approach of providing an all-in-one payments gateway that merges open banking with instant payments. Marc Milewski and Miles Schwartz started the company in 2019. Milewski’s background is in treasury payments and he was an early employee at accounts receivable automation software company Versapay. While there, he worked on what ultimately became Canada’s first webhook-enabled EFT gateway. “You learn about all the problems everyone has moving money,” Milewski told TechCrunch. “Open banking was discussed, but I thought it was more about payments. Miles and I talked …

Alabama ruling on frozen embryos and Capital One-Discover merger: Morning Rundown

Alabama ruling on frozen embryos and Capital One-Discover merger: Morning Rundown

President Joe Biden considers taking unilateral action on border security. The merger of two major credit card companies raises red flags. And the ex-informant who gave false reports on Hunter Biden says he got the information from Russia.  Here’s what to know today. Biden admin mulls unilateral action on border security Lokman Vural Elibol / Anadolu via Getty Images file As the debate over border security legislation languishes in Congress, President Joe Biden is weighing whether to take unilateral action to lower the number of migrants crossing the southern border illegally, according to three U.S. officials with knowledge of the deliberations.  New policies under consideration include a change to the standards used in officers’ “credible fear interviews,” the first screening given to asylum-seekers who are trying to avoid deportation for crossing the border illegally. A “last in, first out” policy also being considered would prioritize recently arrived migrants for deportation, the officials said.  This is Morning Rundown, a weekday newsletter to start your morning. Sign up here to get it in your inbox. Making it harder …

Jordan North To Replace Roman Kemp As Capital Breakfast Host

Jordan North To Replace Roman Kemp As Capital Breakfast Host

Capital bosses have announced that Jordan North will take over as host of the station’s flagship breakfast show. Jordan made headlines last week when he stepped down from the Radio 1 drivetime show with immediate effect, and it’s now been revealed he’ll be taking over from Roman Kemp as host of Capital Breakfast as of next month. Roman announced the news during his show on Wednesday morning, telling his successor: “You are going to absolutely love this, Jordan. I have so much faith in you, mate. “It’s hard leaving, it feels like your child, but you want it to go into good hands and I know with you it’s going to be just that. Everyone, send as much love as possible to Jordan.” Roman Kemp Joe Maher via Getty Images Celebrating the news, Jordan said: “I am beyond excited to be joining Global and to wake up the nation every morning on Capital – I can’t wait to start working with the amazing team here and get stuck in, to create the most fun and …

Capital Radio Announces Former Radio 1 Star As Roman Kemp’s Breakfast Replacement

Capital Radio Announces Former Radio 1 Star As Roman Kemp’s Breakfast Replacement

Jordan North in the Capital studio Jordan North in the Capital studio Capital bosses have announced that Jordan North will take over as host of the station’s flagship breakfast show. Jordan made headlines last week when he stepped down from the Radio 1 drivetime show with immediate effect, and it’s now been revealed he’ll be taking over from Roman Kemp as host of Capital Breakfast as of next month. Roman announced the news during his show on Wednesday morning, telling his successor: “You are going to absolutely love this, Jordan. I have so much faith in you, mate. “It’s hard leaving, it feels like your child, but you want it to go into good hands and I know with you it’s going to be just that. Everyone, send as much love as possible to Jordan.” Celebrating the news, Jordan said: “I am beyond excited to be joining Global and to wake up the nation every morning on Capital – I can’t wait to start working with the amazing team here and get stuck in, to …

Capital announces Jordan North will replace Roman Kemp after quitting BBC Radio 1

Capital announces Jordan North will replace Roman Kemp after quitting BBC Radio 1

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails DJ Jordan North will replace Roman Kemp on Capital Radio’s breakfast show, it has been confirmed. The announcement comes days after both North and Kemp quit their respective shows at a similar time, with the role changes appearing to occur quite abruptly. After the BBC shared the news on Friday (16 February), North’s “absolutely gutted” Radio 1 co-host Vick Hope said she was “so sad” they “didn’t get a proper on-air send off”. Meanwhile, the BBC then announced that reality TV star Jamie Laing, best known for appearing in Made in Chelsea, would be joining Hope as North’s Radio 1 replacement. Days later, Kemp said he was leaving Capital Breakfast in an emotional announcement to his listeners, telling them: “I’ve not found it easy at all.” Among Capital listeners, speculation was rife regarding who would replace Kemp, with many predicting that North’s timely depature from BBC Radio 1 …

Farmers Paralyze Greek Capital with Massive Protest

Farmers Paralyze Greek Capital with Massive Protest

ATHENS —  Farmers in Greece have stepped up their protests, storming the country’s capital with tractors and farming equipment, gathering outside the nation’s parliament. In the largest agricultural demonstration in recent memory, thousands of farmers drove colorful tractors through the streets of Athens, paralyzing traffic and then parking outside Parliament. They are complaining of rising production costs, but the government says it has no money to spare to meet their financial demands. Many chanted slogans and lit flares, others waved black flags, dragged out coffins and hung funeral wreaths on their vehicles, showcasing, as they put it, the plight of their dying trade. One farmer said he drove 14 hours to be at the protest. He said the cost of production is rising and while farmers sell their products at low prices, they end up in the supermarket basket three and four times over that base price. Police said at least 6,000 farmers and about 200 tractors stormed the Greek capital. Their anger and frustration over rising costs echo similar concerns by farmers staging rolling …

What does the Capital One-Discover deal mean for you?

What does the Capital One-Discover deal mean for you?

Capital One Financial Corp. announced Monday that it had reached an agreement to acquire Discover Financial Services for $35.3 billion, instantly creating a financial behemoth should the deal be approved by regulators. The merger would combine one of the largest issuers of Mastercard and Visa cards with Discover’s network of cardholders. However, such a mega-merger immediately raised antitrust concerns, as well as questions over how it might affect customers. Here are some early answers to key questions. Will I still be able to use my Discover card? The proposed merger could take a year or more to gain regulatory approval, so in the immediate term don’t expect any changes as it’s reviewed. The companies have not yet disclosed how they might change their product mix. It’s possible Capital One might issue new Discover cards highlighting its name instead of Discover’s bright orange “O” logo — similar to how it issues its Visa and Mastercard credit cards. However, don’t expect your card to go away. Capital One is buying a valuable asset. What if I use …

Capital One bid for Discover could shake up payments industry

Capital One bid for Discover could shake up payments industry

NEW YORK (AP) — Capital One Financial is betting that Americans will keep shopping and use a credit card to pay for their purchases at stores and on the internet. Capital One announced Monday that it would buy Discover Financial Services for $35 billion. The combination could potentially shake up the payments industry, which is largely dominated by Visa and Mastercard. The deal marries two of the largest credit card companies that aren’t banks first, like JPMorgan Chase and Citigroup, with the notable exception of American Express. It also brings together two companies whose customers are largely similar: often Americans who are looking for cash back or modest travel rewards, compared to the premium credit cards dominated by AmEx, Citi and Chase. “This marketplace that’s dominated by the big players is going to shrink a little bit more now,” said Matt Schulz, chief credit card analyst at LendingTree. In a call with investors Tuesday morning, Capital One executives said they planned to invest heavily into expanding the acceptance of Discover by consumers. While Discover is …

Capital One is buying Discover in a deal worth more than  billion

Capital One is buying Discover in a deal worth more than $35 billion

The logo for Capital One Financial is displayed above a trading post on the floor of the New York Stock Exchange, July 30, 2019. Capital One Financial is buying Discover Financial Services for $35 billion, in a deal that would bring together two of the nation’s biggest lenders and credit card issuers, according to a news release issued by the companies Monday, Feb. 19, 2024. Richard Drew/AP hide caption toggle caption Richard Drew/AP The logo for Capital One Financial is displayed above a trading post on the floor of the New York Stock Exchange, July 30, 2019. Capital One Financial is buying Discover Financial Services for $35 billion, in a deal that would bring together two of the nation’s biggest lenders and credit card issuers, according to a news release issued by the companies Monday, Feb. 19, 2024. Richard Drew/AP Capital One is buying Discover Financial in a deal worth $35.3 billion, the financial institution said Monday. Capital One shareholders will own 60% of the newly merged company, while Discover shareholders will own 40% of …

Capital One to acquire Discover Financial Services in .3 billion all-stock deal

Capital One to acquire Discover Financial Services in $35.3 billion all-stock deal

Capital One Financial is set to acquire Discover Financial Services in a $35.3 billion all-stock deal. Under the agreement, Discover shareholders would receive 1.0192 Capital One shares for each Discover share or about a 26% premium from Discover’s Friday closing price of $110.49. The companies said they expect the deal to close in late 2024 or early 2025, after which Capital One shareholders would hold 60% and Discover shareholders would own 40% of the combined company. The merger of the two companies, which are among the largest credit card issuers in the U.S., would expand Capital One’s credit card offerings and its deposit base. The company bought digital concierge service Velocity Black, a premium credit card and luxury market platform, in June of last year. The Wall Street Journal reported that Capital One, which already uses Visa and Mastercard networks, plans to keep the Discover brand. “Discover has done a better job of bringing in a lot of deposits and [has] access to a lot of institutions to run the debit card network and provide service. So it gives them a lot of deposit gathering …