Global Fintech Newsletter, March 2024, by NewNerve
Here’s a summary of some notable Fintech news from March 2024:
Visa and Mastercard Settlement:
US merchants reached a landmark settlement with Visa and Mastercard to lower swipe fees. The credit interchange rates will be capped for the next five years, resulting in an estimated $29.79 billion in savings for US merchants.
Robinhood’s Leadership Change:
Baiju Bhatt, co-founder and chief creative officer of Robinhood, stepped down after ten years at the company to “pursue other entrepreneurial interests.” Vlad Tenev, CEO and fellow co-founder, praised Bhatt’s pivotal role in opening access to markets for millions of new investors.
Co-operative Bank Job Cuts:
The UK’s Co-operative Bank is set to cut around 400 jobs (12% of its workforce) as part of a cost reduction progra...