TLDR Fintech 2025-06-16

Nobody likes proving they're real over and over again. Reusable credentials promise a better way — but while everybody's talking about them, few truly understand how they work.

In this on-demand webinar, fraud experts from Ally Financial, KeyBank, and Persona explain:

→ What reusable credentials and trust networks are

→ How they help platforms detect fraud faster

→ How product teams can reduce friction for trusted users during onboarding and re-verification

The panel also dispels common myths about reusable credentials and their impact on fraud, and cover some practical considerations for implementation.

↗️ Watch the recording ↗️

Chime surged 37% on its public debut, signaling renewed investor appetite for fintech IPOs after a long dry spell. The neobank priced its shares at $38, above the expected range, pushing its valuation to over $20 billion. With Klarna and Stripe waiting in the wings, Chime's strong showing could help unlock a broader wave of fintech listings in 2025.

American Express is accelerating its push into business-to-business payments by encouraging corporate clients to use their Amex cards more frequently for work-related transactions and expanding its expense management platform, Center, into the Blueprint offering. The firm aims to build a global multi-rail B2B network—integrating digital tools and virtual cards—to streamline payments, enhance cash flow transparency, and automate accounts payable/receivable processes. This strategy bolsters its corporate payments volume and positions Amex as a comprehensive fintech partner in uncertain economic times.

Fintech startup Ramp has raised $200 million in new funding at a $16 billion valuation, led by Founders Fund. The company was previously valued at $13 billion in a secondary sale earlier this year and $5.8 billion in 2023. It provides corporate cards and financial tools for businesses.

Marqeta is powering Klarna's expansion in the U.S. by enabling the launch of its physical Klarna Card for in-store payments. The card allows users to “pay in four” anywhere Visa is accepted, blending buy-now-pay-later flexibility with traditional card utility. Klarna already has over a million cardholders in Europe. This U.S. rollout signals a major push into everyday, omnichannel spending.

Plaid Protect is a new fraud detection system that starts with just a device fingerprint and can pull from over 10,000 data attributes across its network. The model claims to catch 40% of first-party fraud missed by older systems and predict 50% of future account suspensions at onboarding. It has a natural language interface that lets analysts run complex queries like identifying users who linked multiple accounts with short phone tenure.

Shopify is partnering with Coinbase and Stripe to allow merchants to accept USDC stablecoin payments on the Base network using Shopify Payments, no additional integrations required, offering faster, borderless transactions with lower fees and a seamless checkout experience. Merchants will be able to receive payouts in local currency or hold USDC directly. Eligible merchants can earn up to 0.5% cashback. This initiative signals a major step toward mainstream stablecoin adoption.

Adyen is prioritizing organic growth by building its own payment systems and POS hardware instead of acquiring competitors as it scales in the U.S. Its direct integration with merchants allows it to leverage proprietary data for higher authorization rates and faster issue resolution. This strategy distinguishes Adyen from peers relying on acquisitions and underscores its focus on tight client relationships and custom solutions.

Airwallex co-founder Jack Zhang turned down a $1.2 billion acquisition offer from Stripe seven years ago. The company has since grown into a $6.2 billion global banking and payments platform.

New York's legislature has passed a bill that would prohibit most food and retail establishments from refusing to accept cash, imposing fines of up to $1,000 for first violations and $1,500 for repeat offenses. The legislation, now heading to Governor Hochul, aims to protect low-income, elderly, undocumented, and unbanked consumers who rely on cash for daily purchases. If signed into law, New York would join several cities and states that have enacted similar protections to ensure cash remains a valid payment option.

CFPB veteran enforcement official Cara Petersen is leaving the agency after nearly two decades - the bureau is reportedly scaling back investigations and dismissing ongoing cases.

Mercado Libre, now serving 64 million monthly users across the region, transformed into a fintech powerhouse through Mercado Pago.