Payment Expert’s Fintech Unwrapped delivers the latest and developing news that has shaped the sector over the course of the week.
This week, we explore changes to Apple’s credit card programme which could soon be taken over by J.P. Morgan. If given the green light, it would see the premature end to its Goldman Sachs agreement.
JP Morgan in pole position to agree Apple Credit Card deal
Apple is on the verge of agreeing a deal with JP Morgan Chase to take over its credit card programme from Goldman Sachs, according to reports on July 29.
The Wall Street Journal was the first to report the deal following talks beginning with JP Morgan last year as part of its strategy to expand its presence within the credit card sector.
The Apple card offers perks such as cashback and no attached fees, but since co-launching the credit card in 2019, Goldman Sachs has reportedly grown concerned over the current terms being deemed risky and unprofitable. Its contract was meant to last until 2030.
Barclays also threw its name into the ring to work with Apple’s credit card programme, as well as Synchrony Financial, but it now appears JP Morgan is in pole position in the race to reach an agreement with the Big Tech firm.
OpenPayd opens access to fiat payments for Kraken
OpenPayd has enabled instant fiat payments for Kraken, supporting the crypto exchange’s ambitions to offer seamless transactions across both fiat and digital currencies.
Announced on July 30, OpenPayd’s advanced payment infrastructure will enable Kraken to issue virtual IBANs for a range of fiat currencies for global payment transfers both domestically and internationally.
OpenPayd’s platform is built to provide API-first access to domestic and cross-border payment rails, FX, and account infrastructure across the UK, Europe and beyond.
“We’re thrilled to support Kraken in powering instant fiat capabilities across global markets,” added Iana Dimitrova, CEO at OpenPayd.
“This partnership reinforces our role as the financial infrastructure backbone for digital asset businesses, and highlights how OpenPayd’s regulated infrastructure is enabling the next generation of crypto platforms to move money at speed and scale.”
Revolut becomes Audi F1 team title sponsor
UK fintech Revolut has signed on as the title sponsor of the Audi Formula 1 team, in a move that could significantly boost its global brand visibility through sport.
From the 2025/26 F1 season onwards, both parties aim to explore new ways for fans to interact with the sport during weekends, while also integrating features which tap into Revolut’s 60 million global customers.
“This is a monumental partnership for Revolut and the future Audi F1 Team. We’re accelerating towards 100 million customers, and we’ll be bringing them into Formula 1 with unforgettable experiences at a pivotal time for the sport,” said Nik Storonsky, CEO of Revolut.
Payroc to acquire BlueSnap to accelerate payment orchestration push
Payroc is committing to payment orchestration after announcing on July 31 it had signed a definitive agreement to acquire BlueSnap.
The acquisition combines Payroc’s direct-connect acquiring infrastructure across the US, Canada, and Puerto Rico, and boosts its capabilities by adding BlueSnap’s global payment orchestration capabilities. The transaction is expected to close in Q3 2025 and is subject to regulatory approval.
“Integrating BlueSnap’s orchestration layer with Payroc’s direct-connect network transforms our ability to serve merchants and ISVs at scale,” said Jim Oberman, CEO of Payroc.
“This transaction dramatically expands our global footprint and the breadth of capabilities we can bring to our customers and partners.”
Mollie unveils new AI workflow service
Mollie confirmed the launch of its native Model Context Protocol (MCP) Server, on July 29. The aim of the server is to simplify workflows and improve efficiency for merchants to integrate Mollie into their AI applications.
With the rise of AI in business operations, Mollie’s new server seeks to offer merchants a new way to manage complexity and simplify their workflows by making Mollie’s APIs and tools accessible to AI clients, reducing development times and removing technical barrie
“We see AI not just as a trend, but as a powerful enabler for our merchants,” said Koen Köppen, CEO of Mollie.
“The launch of our MCP Server is a natural step forward — helping merchants integrate, automate, and innovate more easily using AI. It’s an exciting development that reinforces our commitment to staying ahead of the curve and building tools that deliver real value.”
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