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What's Happening in Payments Ep. 5: Extend's Andrew Jamison on virtual cards, spend management, and the future of corporate payments
In episode 5 of “What’s Happening in Payments”, Andrew Jamison, co-founder and CEO of Extend, joins host Ismail Umar.
Extend provides digital payment infrastructure for financial firms and allows them to modernize their payment experiences through the use of virtual cards. The firm’s offerings include virtual card APIs, a digital corporate card app, and a card tokenization service.
Andrew is here to talk about why he founded Extend, what need it serves in the industry, and where he sees virtual cards and corporate payments headed in the coming years.
The latest briefing
Embedded Briefing: MX and Boss Insights collaborate to enhance digital SMB lending
Utah-based MX, an open banking service provider, and Toronto-based Boss Insights, a business data aggregator, have partnered to provide lenders with SMB data to accelerate SMB lending processes.
In this partnership, Boss Insights brings small business data across multiple categories — banking, accounting, commerce, and payroll — collected through its integration with over 1,000 data sources, including Shopify, Stripe, Gusto, and Quickbooks. MX, through its APIs, connects financial service providers to this data reserve, enabling them to understand SMB applicants and their financial standing.
For SMBs, the partnership seeks to bridge the financial data gap between them, their financial institutions, and their financial applications.
Read more (exclusive to Outlier members)
Just look at the charts
1. Technologies enabling new in-store payment journeys
Source: Worldline
2. Fintech industry based on startups' positioning (compared to banks' activities) and valuations
Source: Florian Graillot
Today's stories
Wells Fargo launches its "SMB Resource Navigator"
The service will let small business owners complete brief questionnaires online and then connect with appropriate community development financial institutions, or CDFIs (PYMNTS)
Coinbase launches NFT Marketplace in beta
Six months ago, Coinbase announced that it was launching an NFT marketplace -- fast-forward to now, "Coinbase NFT” launched in beta mode with collections of NFTs on the Ethereum blockchain (Finextra)
U.K. crypto regulators turn to fintech Playbook for Inspiration
Britain's prior approach to regulating financial technology has been held up as the de facto bar, but on crypto, its more risk-averse outlook has stymied the sector's growth (Bloomberg)
Mastercard is stepping up its inclusivity efforts
A brilliantly designed commercial for Mastercard is intended to be as accessible as the product it’s promoting for the partially sighted (Colossal)
Dentist-turned-entrepreneur beefs up super-app Toss
Viva Republica head Lee Seung-gun is taking his finance super-app Toss to the next stage with a big push in Southeast Asia and a blockbuster funding round in the works (Forbes)
How banks can stay relevant as customer preferences change
Mining insights from transaction data is no longer optional for banks and credit unions -- transforming unstructured data into actionable intelligence is challenging, but five steps provide a tactical guide (The Financial Brand)
Creative Juice launches a $50 million fund to invest in creators
A banking app built for online creators, Creative Juice announced its $50 million fund to underwrite creator businesses (TechCrunch)
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