Registry — Vantage Bank Texas (US) added to the registry
Enforcement — Licence Revocation issued against Paytm Payments Bank · RBI · Apr 26, 2026
Partnership — Gulf Bank Renews Strategic Collaboration with Mastercard · Apr 26, 2026
Product — ACI Worldwide Unifies Eight U.S. Payment Rails on Cloud-Native Platform · Apr 24, 2026
M&A — Collective Acquires Embedded Accounting Startup Open Ledger · Apr 24, 2026
Funding — Salmon Raises $100M for Banking and Lending Platform in Southeast Asia · Apr 24, 2026
Deal Feed
Partnerships, funding rounds, product launches, and M&A across the ecosystem.
Shift4 acquired Smartpay, a payment processing firm in Australia and New Zealand, for $180 million in June 2025. The deal expands Shift4's embedded payments presence into the APAC region. Smartpay provides payment terminal and processing services to merchants across ANZ markets.
Stripe acquired Privy, a crypto wallet infrastructure provider, as part of a wave of major fintech M&A activity in June 2025. The deal expands Stripe's capabilities in crypto and embedded wallet infrastructure. This signals Stripe's deeper push into Web3 and crypto-adjacent embedded finance services.
Revolut acquired Banco Cetelem to enter the Argentine market and obtain a banking license in the country. The deal gives Revolut a direct banking presence in Argentina rather than relying on partner banks. This marks a significant expansion of Revolut's Latin American footprint.
Xero acquired Melio, a B2B payments platform, for $2.5 billion in June 2025. The deal embeds payment capabilities directly into Xero's accounting software used by millions of SMEs. This represents a major embedded finance play in the SME accounting and payments space.
U.S. Bank announced an expansion of its Embedded Payment Solutions, integrating secure real-time payments into platforms for fintechs, apps, and enterprises. The suite includes for-benefit-of (FBO) accounts and instant payments capabilities. This positions U.S. Bank as a major BaaS infrastructure provider for non-bank platforms.
Tietoevry Banking joined the Norwegian fintech cluster Finance Innovation on May 23, 2025. The partnership aims to accelerate innovation, knowledge sharing, and competitiveness in the financial sector. Finance Innovation is a national cluster supported by Innovation Norway, the Research Council of Norway, and SIVA.
Visa launched its Commercial Integrated Partners program on May 22, 2025, to accelerate embedded finance adoption among fintechs and enterprise software providers. The program provides streamlined API access for integrating commercial payments, virtual cards, and data solutions into business applications. Early partner Car IQ reported the program could save 18-24 months of development time for fleet payment integrations.
The OCC issued an interim final rule effective May 15, 2025, restoring expedited merger reviews and streamlined procedures for bank transactions. The rule reduces scrutiny on novel activities, directly benefiting fintechs, crypto firms, and de novo national bank applicants seeking to enter the banking system.
Inswitch and Mastercard announced a partnership on May 14, 2025, to launch embedded payments and card issuing programs across multiple industries. The collaboration leverages Inswitch's fintech technology platform with Mastercard's network to enable non-financial companies to offer payment services. The partnership aims to expand embedded finance adoption across diverse verticals.
Banque Saudi Fransi (BSF) launched a next-generation digital banking platform built on Backbase's engagement platform, with middleware integration by Hexaware. The AI-powered omnichannel platform covers retail mobile and web banking with features including digital onboarding, Apple Pay, and biometric authentication. The initiative reflects a banking-as-a-platform approach that modernizes customer-facing channels while preserving legacy core systems.
Jeeves launched an embedded finance solution on May 9, 2025, targeting Brazil's corporate travel sector with virtual card technology. The product improves traceability, reduces fraud, and enhances expense control for travel agencies. It represents Jeeves' expansion into embedded B2B payment solutions in Latin America.
Glide raised a $15 million Series A to expand its embedded deposit origination platform for community banks and credit unions. The platform reduces account opening time from 20 minutes to under 3 minutes and boosts onboarding rates by 3x. Glide supports all account types via seamless integration into existing banking systems.
TradeBridge secured a £70M (~$88M) credit facility from Castlelake to fund embedded finance lending to SMEs, including eCommerce marketplace sellers on platforms like Amazon. The facility enables TradeBridge to scale its embedded lending offerings within digital commerce ecosystems. The deal highlights growing institutional capital backing for embedded finance in SME lending.
AvidXchange, a B2B payments automation platform, was acquired by TPG and Corpay for $2.2 billion. TPG gained majority control through its private equity platform while Corpay took a 33% minority stake. The deal highlights continued investor appetite for embedded B2B payments infrastructure.
Lendflow obtained $15M in growth capital from Trinity Capital to enhance its AI-driven embedded credit infrastructure platform. The company provides credit APIs enabling fintechs, vertical SaaS companies, and lenders to integrate lending capabilities. The funding advances Lendflow's mission to make credit decisioning faster and more accessible via API.
Bottomline launched an embedded integration of its Paymode business payments network into commercial digital banking platforms. Paymode processes $450 billion annually and serves over 440,000 businesses. The integration offers in-app supplier self-enrollment, rebates, fraud reduction, and new revenue opportunities for banks.
Coinbase agreed to acquire Deribit, a leading crypto derivatives exchange, for $2.9 billion in a mix of cash and stock. The deal comprises $700 million in cash and 11 million Coinbase shares. This is one of the largest crypto-sector acquisitions and expands Coinbase's embedded crypto trading infrastructure.
FIS launched its Money Movement Hub on May 1, 2025, a cloud-native payments platform with universal APIs designed for U.S. banks. The hub unifies money movement, fraud controls, and scalable integrations into a single platform. It aims to modernize bank payments infrastructure and enable faster fintech and third-party integrations.
Airwallex raised $300M in a combined primary Series F and secondary transaction, bringing total funding to $1.2B at a $6.2B valuation. The cross-border payments and banking infrastructure platform will use the capital to expand into Japan, Korea, the UAE, and Latin America. The round underscores strong investor appetite for global payments infrastructure.
Slash secured a $41M Series B at a $370M valuation led by Goodwater Capital, NEA, and Menlo Ventures. The company provides industry-specific business banking including checking accounts and payment cards. The round supports its challenge to one-size-fits-all banking with tailored vertical financial solutions.
Airwallex introduced a Connected Account Console, a web-based portal enabling platforms to onboard, monitor, and manage connected accounts within its embedded finance ecosystem. The console offers global visibility and upcoming features for transaction management. It is designed to simplify account operations for platforms embedding financial services.
Federal regulators conditionally approved Capital One's acquisition of Discover Bank, while simultaneously penalizing Discover $100 million. This deal combines two major card-issuing banks and has significant implications for the payments and BaaS landscape. The merger creates a combined entity with substantial scale in cards and payments infrastructure.
Cross River Bank launched its International Payments product on April 30, 2025, offering embedded cross-border transactions via API. The solution features smart routing across SWIFT and local payment rails with built-in AML compliance. It targets fintechs and SMBs seeking seamless global payment capabilities.
Fiserv's Merchant Acquirer Limited Purpose Bank (MALPB), chartered by the Georgia Department of Banking and Finance, processed its first card-based transactions around April 30, 2025. The charter was originally approved on September 27, 2024, with a permit to begin business issued on April 11, 2025. This is the first MALPB charter to process card-based payments in the U.S., enabling direct merchant acquiring without deposit-taking.