July 10, 2019

Remitly, a digital money transfer service, said it raised $220 million in financing that will be used to accelerate the company's international expansion and also expand into new businesses. 

The funding includes $135 million in Series E equity financing led by Generation Investment Management and $85 million in debt financing. 

"Remitly will grow our online offering to more customers around the world and continue growing our physical presence," co-founder and CEO Matt Oppenheimer told Mobile Payments Today via email. "This helps us provide high quality customer service to users of Remitly, maintain relationships with our disbursement and other partners, and do local marketing — introducing people to the Remitly service." 

Remitly has offices in London, Managua, Nicaragua and Manila, where the company just moved into larger offices. 

The company is planning to expand into financial services that would help migrants and other underserved communities, he said. 

The total amount of funding raised to date is $311.6 million, according to the company. 

Topics: Mobile Apps, Money Transfer / P2P

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July 10, 2019

Infographic courtesy of Mastercard

Mastercard announced that it is using Mastercard Send technology to give hourly and gig workers early access to their earned wages under a partnership with Evolve Bank & Trust, which provides the service with Branch. 

The Mastercard Send push payments technology moves funds from these paycheck advances directly onto debit cards to give them access to their earned income. 

"Gig workers provide just-in-time services that help both consumers and businesses fulfill real-time needs," Jess Turner, executive vice president, product and innovation, North America at Mastercard, said in a company release. "But when it comes to getting paid, they are stuck in a traditional model of work now, get paid later."

Branch announced a service in March that gives hourly workers advance access to their earned wages. 

Topics: Card Brands, Mobile Banking, Mobile Payments

Companies: MasterCard, Evolv

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July 9, 2019

(Updated at 4:43 p.m. EDT)

Chime said it had resolved series of outages that left customers unable to use their mobile banking app since Monday. The San Francisco-based digital bank has been reporting disruptions to its mobile app since Monday. 

"Please be assured that member deposits and debit card transactions were not affected by the outage," spokesperson Kendra Boccelli told Mobile Payments Today via email. "We have since resolved the issue and members now have full access to their accounts as usual."

She went on to say that the bank understands that members trust Chime with their banking needs and that the bank takes that responsibility seriously and that they are working hard to make sure the outage doesn’t happen again."

The bank late Monday morning PDT said that it was aware of issues with the mobile app and said the team was working on it, and posted one hour later that the issue was resolved. 

Within the last hour, the bank posted that customers were reporting intermittent and ongoing issues logging into their accounts, however, officials said that debit cards should still work if they are enabled. 

Chime reported in March that it raised $200 million in Series D funding and had surpassed 3 million accounts. 

Topics: Mobile Apps, Mobile Banking, Security

Companies: Chime

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July 9, 2019

Customer using DriverDash mobile app to pay for fuel

Wex Inc. entered an agreement with Shell Oil Co. to make its Wex Fleet DriverDash mobile fuel payment platform available to fleet drivers at thousands of Shell gas stations across the country. 

Wex Fleet DriverDash allows drivers to authorize fuel payments while still inside their vehicles, the company said in a press release. 

"DriverDash is an easy and secure mobile payments app from Wex that delivers increased security and control for fleet managers, while offering drivers a faster and easier experience at Shell stations," Peggy Watson, senior vice president of product and marketing at Wex, said in the release. 

DriverDash is offered at more than 13,000 Shell stations across the U.S. With the Shell agreement, DriverDash is accepted at more than 25,000 gas stations across the country.

Photo courtesy of Wex

Topics: Contactless / NFC, In-App Payments, Mobile Apps, Mobile Payments

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