Today in Payments: Coupang IPO, LendingClub Loans


In today’s top news, Coupang raised $ 4.6 billion on its IPO, and LendingClub reported that lending volumes rose 56% in the fourth quarter. Additionally, Grab is considering going public with a PSPC.

Coupang in South Korea files US $ 4.6 billion IPO

South Korean firm Coupang has filed an initial public offering (IPO) in the United States that raised $ 4.6 billion, the largest share offering this year and above its initial price range. The e-commerce platform is now valued at $ 60 billion.

LendingClub’s Q4 lending volume rebounds by 56 pct

LendingClub reported net sales of $ 75.9 million on Wednesday, March 10, a loss of 60% from the fourth quarter of last year. But he also reported that loan grants rose 56% quarter over quarter, beating expectations.

Grab Mulls Public deposit in the United States via PSPC

Southeast Asian delivery start-up Grab Holdings Inc. is considering going public in the United States through a merger with a Special Purpose Acquisition Company (SPAC), although a traditional IPO is also possible.

Forms of business groups to promote the development of FinTech, regulations

FinTech leaders like Afterpay have formed a new business group called the Financial Technology Association, which aims to support financial regulation and promote financial inclusion and opportunities.

US and UK businesses prioritize innovation to accelerate border payment flows

Businesses in the US and UK are now doing more overseas trade, but it comes at a cost: they wait 55% more to be paid by these buyers than by those in their home markets. In the Cross-Border Payments Innovation report, PYMNTS interviewed 456 US and UK payments decision makers to find out the three ways these companies are streamlining cross-border payment flows.

Twitter, Tripadvisor Herald The Next Wave of Subscription Models

After a blistering 2020, there’s not much a consumer can’t access through a subscription these days. As CEO Brian Bogosian told Karen Webster in a recent conversation, companies like Twitter and Tripadvisor can take the model into new areas if they keep customer needs at the center.

Amazon and other companies face persistent supply chain problems

The digital economy first has taken hold, but alongside the deluge of online shopping, logistics and last mile efforts are bewildered. This means Amazon and others are looking for alternatives to traditional shipping – and the supply chains themselves may need to reorganize with high tech.

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About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million people plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments Report, PYMNTS is polling 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, which crypto they plan to use. to use – and how merchant acceptance can influence merchant choice and consumer spending.

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