UK BaaS provider Modulr will stop onboarding new agents or distributors unless FCA approval is granted, while EU operations and direct fintech customers remain unaffected.
As Mercury moves from Synapse to direct banking partnerships, US banks with BaaS offerings gain momentum, challenging standalone providers in the embedded finance market.
TikTok tests a banking-like interface for Coins and transactions, hinting at potential future embedded finance offerings alongside its e-commerce and creator ecosystem.
Xbox partners with Mastercard and Barclays US for a co-branded credit card, offering rewards and gamertag personalization—but lacks the seamless experience of a fully embedded solution.
Solaris raises €38M, Polish startup Verestro launches a BaaS platform, and American Express introduces Sync for easier API integration, highlighting key trends in banking-as-a-service.
Amazon, Apple, Shopify, Twitter, and Uber make multiple moves in embedded finance, from co-branded cards to insurance, highlighting Big Tech’s expanding role in financial services.
Visa buys Brazilian core banking and processing provider Pismo for $1B, enhancing offerings in debit, credit, prepaid cards, and emerging payment rails like PIX across multiple regions.
Metro FS, the German wholesale subsidiary, hits 10,000 customers with its Mastercard debit card, BNPL, and cashback program—showing strong product-market fit in embedded finance.
Railsr (formerly Railsbank) loses its Lithuanian e-money license as regulator cites serious compliance breaches with intermediaries, raising concerns for its 90 EU clients.
Jimdo introduces a banking product with Solaris, offering a bank account and Visa card to paid users, aiming to simplify finances for solo-preneurs and small business owners.
UK-based embedded banking provider Weavr teams up with Visa to help B2B SaaS companies offer bank accounts and debit card services, expanding adoption of embedded finance across the EU and UK.
Tim Hortons introduces Tims Financial and its first credit card, offering rewards for purchases and higher points at Tim Hortons, following a path similar to Starbucks’ successful app-based wallet.
