In today’s top news in digital-first banking, PSCU has appointed two financial services industry veterans to its board, while Square has launched its Square Banking offering to help small business owners manage their cash flow. Plus, Revolut is moving into travel with a new tool for bookings that offers immediate cashback.
PSCU, the payments credit union service organization, has named two financial services veterans to its board. Border Federal Credit Union President and CEO Maria J. Martinez and California Coast Credit Union President and CEO Todd Lane will be associate directors. “The expertise, guidance and diversity of thought that leaders like Todd and Maria bring to the cooperative allow us to continue making smart, strategic decisions that strengthen and better the organization,” PSCU President and CEO Chuck Fagan said in a release.
Square has rolled out a collection of financial products named Square Banking to help small business owners control their cash flow. Square Banking is comprised of three primary products including Square Checking and Square Savings, along with Square’s current lending tool that is now called Square Loans. Square Savings are FDIC-insured accounts that provide an APY of 0.5 percent and don’t have minimum deposits, account charges or balance requirements.
Revolut, the British FinTech, is moving into travel with a new tool for reservations that provides 10 percent immediate cash back to customers on bookings. Customers in the United Kingdom can now use Revolut Stays, although there are plans to bring the reservation functionality to the U.S. and across Europe. “We’ve built Stays to make it easy for people to find and book their perfect break in their ideal destination,” Marsel Nikaj, head of savings and lifestyle at Revolut, said in an announcement. Revolut has more than 16 million clients throughout the globe that make 150 million transactions each month.
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