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Fintech Takes
S7 E9: Fintech Recap: Synapse vs. the World, Visa Flex Credential, Buy Now Pay Later Reclassified as a Credit Card
Jun 5, 2024
Guest Jason Mikula discusses the financial drama between Synapse, Evolve, and Tabapay, bankruptcy implications, Visa Flex Credential's payment flexibility, CFPB's reclassification of Buy Now Pay Later, and interesting topics like Solo Funds' lawsuit and Revolut's scam prevention photos
51:43
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Quick takeaways
- Synapse bankruptcy led to chaos in BaaS industry with funds dispute.
- Visa's FlexCredential can revolutionize card transactions, impacting banking and customer experience.
Deep dives
Synapse vs. Tabapay Bankruptcy Drama
Synapse and Tabapay's deal took a sharp turn causing a bankruptcy saga. Evolve disputed Synapse's fund amounts leading to Tabapay walking away from the deal. The bankruptcy trustee, former FDIC chair Yelena McWilliams, was appointed to oversee claims from creditors like Triplepoint Capital and Silicon Valley Bank.
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