Simple is shutting down, and there aren't really any great alternatives out there in the US. But what about the other side of the pond? Europe is a hub for financial technology (fintech) startups and some of the innovative new banks are looking to expand their business to the US (some already have). So let's run through what's available in Europe and see what you could soon have access to in the States. Read More
Google was a first adopter when it came to integrating bankless funds with mobile payments, peer-to-peer transactions, as well as contactless cards. The Google Wallet program not only let people use their phones to pay for things at NFC terminals or send money to friends — it also gave users a plastic debit card which ultimately lasted for 3 years. Now, a leak suggests that the company will pull a déjà vu and introduce physical cards for Google Pay, perhaps in a bid to offer a fleet of consumer financial services. Read More
If you're outside the UK, you're unlikely to have heard of Monzo. It's a so-called challenger bank, one of the several startups attempting to disrupt the banking industry in the UK. It's all based around its excellent app – there are no branches. It's pretty popular, too, with the majority of my London-based friends seemingly signed up for the service.
To begin with it was just a prepaid MasterCard that you would need to top up from your normal bank account. The benefit of doing so is that the Monzo app is great for budgeting, monitoring spending, and quickly paying friends. Read More