Stori Expands Premium Credit Card Offerings
Weekly news up to Wednesday, 21st of August 2024.
👀 NEWS HIGHLIGHT
Stori will expand its credit card offerings with the launch of a card for customers who have built a good credit history and are looking for a premium product.
The Sofipo highlighted that this card will have a credit line of up to 230,000 pesos.
Stori Black will offer 3% cashback on purchases over 100 pesos, with no annuity.
Stori's traditional credit cards are designed for those who want to build a credit history, while the Black card seeks to cater to people who already have a built credit history.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Lina gets green light to act as payment initiator.
⭐️ Mexicans across the US send lots of money back home.
⭐️ Ualá hits 6 Million customers.
⭐️ Nubank doubled its net income and reached 105 Million customers.
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BRAZIL
Apple opens up NFC transactions to developers, but says there will be ‘associated fees.’ Amid growing regulatory scrutiny, Apple has announced plans to open its NFC (Near Field Communication) capabilities to third-party developers, a move that marks a significant shift in the tech giant's approach to mobile payments.
Operating since the beginning of the year, Magie, a FinTech founded by Luiz Ramalho (CEO), is transforming the financial market with its digital bank that operates exclusively within WhatsApp. Utilizing artificial intelligence (AI), Magie simplifies financial transactions, offering users a practical and secure solution without the need to access a separate banking app. Read all about it here
Binance to pay $1.7M fine in Brazil for derivatives trading violations. The Brazilian Securities and Exchange Commission (CVM) has ordered to immediately cease its activities and threatened the exchange with a daily fine of 1000 reais if it continued to operate without proper authorization.
David Vélez, the billionaire co-founder and chief executive officer of Nubank sells $𝟰𝟬𝟰 𝗠𝗶𝗹𝗹𝗶𝗼𝗻 of shares as stock hits record Velez unloaded 31 million shares, or about 3% of his total stake, via his trust Rua California Ltd. to raise $404 million, according to a filing. The sale is intended for “estate planning purposes,” the company said.
Mercado Pago CEO on building Brazil’s biggest digital bank. Mercado Libre, as well as Mercado Pago, is ready to test that innovative spirit outside of Brazil. The company has bold expansion plans as it looks to become the dominant digital bank in Latin America, including its recent application of a digital banking license in Mexico.
COLOMBIA
Credibanco and Sensedia have launched a solution that consolidates all the information from various participants in the financial industry into a single platform, enabling swift and secure data exchange. Explore the full article
MEXICO
LatAm crypto exchange Bitso taps Coincover to bolster digital asset protection. This strategic partnership will give Bitso complete protection against disaster situations, such as hacking or lost access, safeguarding customers’ funds.
MOVERS & SHAKERS
Nathan Marion, formerly with Yuno, joins Nubank to strengthen B2B business. The goal is to enhance Nubank's presence in the B2B market, particularly in payment and e-commerce products, according to the executive. Continue reading
O2 hires former Cora and Stone executive as New CTO. João Freitas joins O2 with the goal of building an engineering department at the FinTech company, focusing on creating digital products with financial expertise. Read more