allpay.cards will be working alongside Global Processing Services, Pannovate, Visa, MeaWallet AS, W2 Global Data and Modulr.

b.yond is a consortium of financial services working together to deliver trusted and proven technology for a new innovative financial platform designed for established and challenger banks, enabling them to deploy new digital payment services with a focus on speed to market and enhanced customer experience.

Emily Lovelock, Head of Sales at allpay.cards explains: “We anticipate b.yond will be a game changer for companies looking to get a digital banking solution into consumers’ hands quicker. What we will be able to provide is a tried and trusted solution, faster than anyone else in the market. What this means is that rather than a long 6 to 18 month programme launch, b.yond will provide a live solution with physical cards in just 8 weeks.”

Michelle Pacey, Director of allpay.cards said: “We manage the whole design, manufacture and bureau process at our UK accredited site, which gives us full control and flexibility making us the perfect partner for the b.yond solution. We are very excited to be a part of this important consortium which is set to disrupt the market.”

Neil Harris, representing the b.yond consortium said: “b.yond is breaking the mould with its consortium of industry leading companies who are coming together to drive fintech innovation to a new level of simplicity and speed. The allpay team have been brilliantly engaged and have embraced the new collaboration model, working in step with the consortium to deliver a next generation solution in a 6-8 week timeframe. The first b.yond card showcases allpay’s high-end production capability while delivering a new innovative and elegant vertical design.” 

Zero is a mobile banking experience powered by an app, a credit card called the Zerocard, and a checking account called Zero Checking. With their flagship Debit-style Experience enabled, users can view deposits, purchases, and transfers reflected towards their net balance. This allows users to know exactly how much they have available to spend, much as customers are used to using their debit card.

Because the Zerocard is a credit card and processes on credit card networks, Zero can pay customers a higher cash back rate, between one and three percent for all purchases. The level of cash back can be increased via spending activity or by referring new customers to Zero.

“Zero is a perfect example of how new entrants to the market are reimagining the relationship between customers and their money,” said Peg Johnson, EVP of Global Client Success at i2c. “i2c’s platform gives companies like Zero the ability to offer access to a fundamentally modern and differentiated financial services relationship. Zero empowers consumers to actively manage their money, avoid long-term debt, and be rewarded with cash back.”

i2c’s agile payment platform offers advanced API’s and a robust suite of program management tools and controls which allows issuers and program managers to quickly launch programs, customize card features and functionality, and effectively communicate with cardholders to drive growth and best of class payment products in an ever-changing market.

“i2c is a key enabling partner for Zero,” said Bryce Galen, CEO and Founder of Zero. “i2c’s issuer technology enables us to combine features and functionality across credit, debit, and checking to deliver a modern banking experience. We are excited to set a new standard for how rewarding banking can be.”  

PayPal will now begin to integrate iZettle’s products and teams in the UK and around the globe, significantly strengthening PayPal’s in-store presence and platform.

"I am pleased our acquisition of iZettle has been unconditionally approved," said Dan Schulman, president and CEO, PayPal. “We believe there is huge potential in giving millions of small businesses access to affordable tools to run their business and look forward to working together with the iZettle team to make this a reality.”

The CMA has published its view on its website that the acquisition will not lead to competition concerns. 

Oren Zeev joins Sunbit's Board of Directors, which includes existing investors Stuart Larkins of Chicago Ventures and Dovi Frances of Group 11. The Zeev Ventures investment brings the total equity raised to $54 million.

"As someone who was the main early backer of several market-defining companies, Oren Zeev is exactly the type of partner we were looking for," said Arad Levertov, CEO of Sunbit. "A strategic and company-friendly investor, Oren's 'get-it-done' mentality with a track record of high growth is a great fit for our company culture."

"In an industry crowded with e-commerce and moonshot solutions, it was refreshing to find a company innovating on the simple but important point-of-sale transaction," said Oren Zeev, Founding Partner of Zeev Ventures. "People need to get their cars fixed, their pets cared for, glasses so that they can see -- health and safety aren't things people should be forced to wait for or walk away from because there aren't good solutions to help them then and there."

70% of Sunbit customers surveyed said that they would not have completed their purchase if it weren't for Sunbit. Sunbit customers receive personalized rates that, for many, are often better than other credit alternatives.

"I've been there," said Arad Levertov. "As an immigrant, like many young people and those with poor access to credit, I was denied financing at the point of sale. I understand how humiliating it is to be denied in public, after spending time filling out a laborious application, in front of your wife and kids. That's why, in part, I founded Sunbit. No one should have to do without necessities. This recent funding round will help us to meet more consumers in critical markets, and to help them access the goods and services that they need."

"I love the disruptive elegance of the Sunbit solution," added Oren Zeev. "It offers a great experience for consumers and retailers alike. Sunbit is the only company with a scalable point-of-sale technology solution that employs machine learning not only in its underwriting, but across its operations as well. With Sunbit, retailers are able to sell more, while Sunbit's own costs are reduced and the savings passed along to consumers. This offers consumers a great credit alternative that is often more affordable than other financing options, and this is all done using an application process that takes less than a minute; it's a win all around."

Sunbit is rewiring the process of financing in-store transactions for consumers across the credit spectrum -- including the underbanked. By eliminating reliance on the outdated FICO score and replacing that measurement with best-of-breed, proprietary machine learning technology that generates personalized payment solutions tailored to each customer, Sunbit is able to meet the needs of nearly all consumers. The application takes less than 30 seconds and requires nothing more than a state-issued ID, phone number and email address, and consumers across the spectrum are given clear, fair rates for purchases up to $5,000 that are split into 3, 6, or 12 payments.

Sunbit is currently offered in over 1,500 retail locations across the country, with operations in 40 states, with hundreds of new merchants being added per month. The company's partners include the largest automotive dealers in the United States, national chains like CycleGear and a leader in the collegiate bookstore market. With a seasoned executive team with deep experience across finance, technology and retail, Sunbit has demonstrated a clear ability to scale. This latest investment allows the company to accelerate its rapid expansion into key brick and mortar retail outlets nationwide.