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Is Chase making a mobile payments push?

It's getting harder to avoid the rising wave of noise created by the cryptocurrency market -- so many
August 13 · Issue #95 · View online
Tearsheet Weekly Newsletter

It’s getting harder to avoid the rising wave of noise created by the cryptocurrency market – so many startups, new coins, and puffed-up expectations.
For us, understanding the real impact of cryptocurrency on the financial industry is paramount and why we’re hosting our first Hot Topic event on Blockchain and Bitcoin September 25th in New York City. 
You can get tickets, inquire about sponsorships and see our speakers and agenda here. Join us.
Zack Miller – Tearsheet

PFM apps are folding as banks work them into their own apps
The parent companies of Level Money, Prosper Daily and Zenbanx have all folded the fintech startups this summer alone. Consolidation is underway in the crowded PFM market.
How startups are edging out larger players on small-business retirement plans
Startups are making inroads on low-cost retirement plans for small businesses, an area where larger players can’t always be competitive. Startups often have the edge over incumbents on fees, technology and customer experience.
Inside Wells Fargo’s plan to ‘disrupt the disruptors’
Wells Fargo launched FastFlex, its online small business lending product, in May of last year. Now the bank is looking to expand that product’s reach. Here’s how.
Could Chase be in the beginnings of a mobile payments push?
Chase has said it won’t issue new debit cards instantly at branches anymore, citing an uptick in fraud. JPMorgan has been quiet about its mobile payments strategy but the move coincides with some of its mobile payments partnerships.
The state of prepaid cards
Prepaid cards can be an entry point into the financial system for the underserved. Prepaid has evolved to de facto bank accounts for many customers – here’s the state of prepaid cards.’s Morgan Downey: ‘You can’t compete solely on price’
Many have tried and failed to knock Bloomberg off of the mountaintop of financial data.’s Morgan Downey is familiar – he used to run one of Bloomberg’s largest divisions. He joins us this week on the Tearsheet Podcast to talk about Bloomberg’s ‘Blackberry Moment’.
How Florida’s First Green Bank provides banking services for the medical marijuana industry
Florida’s First Green Bank says banking medical marijuana businesses gives a multibillion-dollar industry access to bank accounts and cuts down on the risk of robberies and other criminal activities.
Varo Money wants to become a full-service bank
Mobile banking startup Varo money recently applied for a banking license to broaden the range of services it offers. The move could help Varo generate additional revenue streams from deposits and lending products.
Got Bitcoin on the mind
How’s Bitcoin going after its big split? Pretty, pretty, pretty good, actually. Per Bloomberg, what Goldman Sachs is telling its big clients about the cryptocurrency. Good news – you can use Fidelity to view your Bitcoin holdings.
Chart of the week: Chinese mobile payments
Tencent is closing in on Ant Financial
Also, China’s Tencent is quietly testing a social credit score based on people’s online behavior 
What we're reading
  • Pioneer online lender, Lending Club, makes surprise comeback (Business Insider)
  • How Apple Pay Cash, Apple’s new P2P service, will work (Bank Innovation)
  • Fintechs in New York really learn how to sell (New York Times)
  • PayPal to expand lending offering with acquisition of Swift Financial (Reuters)
  • Harrods Bank sold to digital challenger Tandem (City A.M.)
  • Jack Dorsey wants Wall Street to know that Square Cash can be a real business (Recode)
  • The rapid rise of banking app Monzo (Telegraph)
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