Payment Expert’s Fintech Unwrapped delivers the latest developments that have shaped the sector over the course of the last week.
THE WEEK IN FIVE STORIES
- Affirm agrees to acquire Ratepay
- Morgan Stanley strikes Vinyl Equity deal
- Griffin raises $20m for cards and stablecoins
- Starling launches voice-powered payments
- Venmo adds receipt scanning
Affirm acquires Ratepay from Nexi
Affirm has agreed to buy German payment provider Ratepay from Nexi, in a deal that will see its buy now, pay later (BNPL) offering grow across Germany, Austria and Switzerland.
Ratepay specialises in pay-by-invoice services, allowing shoppers to purchase goods and pay later. The acquisition will leverage its local market expertise and Affirm’s technology and underwriting capabilities, aiming to develop a broader BNPL portfolio for merchants and consumers.
In addition to the deal, Nexi and Affirm have signed a memorandum of understanding to expand their existing partnership in the DACH region and explore new commercial opportunities.
Sabrina Flunkert, CEO of Ratepay, said: “Combining our local market expertise in Germany, Austria and Switzerland with the global scale, technology and underwriting expertise for longer term BNPL products to do even more for our partners, merchants and their customers.”
Morgan Stanley to acquire Vinyl
Morgan Stanley has agreed to acquire Vinyl Equity to expand its digital equity management services.
The acquisition, announced on 9 November, will add transfer agency capabilities to Morgan Stanley at Work, along with its existing cap table management, equity administration, share transfer and wealth management services.
Founded in 2022, Vinyl modernises traditional transfer agency processes through digital workflows, real-time reporting and streamlined administration.
The deal will also improve Morgan Stanley’s digital asset infrastructure by providing resources to support future tokenisation initiatives.
Scott Whatley, Head of Morgan Stanley at Work, said: “Our clients have told us they want greater innovation in this space. Vinyl helps us meet that demand while strengthening the integrated experience we deliver to issuers and shareholders.”
The transaction is subject to closing conditions and is expected to complete in the first quarter of 2027.
Griffin sets sights on stablecoins and card payments
Griffin has raised $20m in a Series B funding round to expand its banking platform with card issuing and stablecoin payment capabilities.
The round was led by Octagon Partners, with participation from existing investors including Notion Capital, A+ Ventures, Nordic Ninja and Breega. The investment values Griffin at more than $100m.
Griffin says the funding will help add branded retail and corporate debit cards to its platform, with plans to introduce credit cards later. It will also support the development of stablecoin reserve services and on-chain cross-border payment capabilities.
Since becoming a fully licensed UK bank in 2024, Griffin has grown from five initial customers to powering more than 80 companies, including Uber, Yonder and Anna Money.
David Jarvis, CEO and Co-founder of Griffin, said: “Since launching as a bank two years ago, we’ve built the infrastructure that over 80 companies now rely on to bring banking products to their customers. This round lets us go further: cards and stablecoins are the natural next layer for our infrastructure.”
Starling lets customers pay by voice
Starling Bank has launched a voice-powered payment feature that allows customers to send money by speaking to its app.
Powered by its Starling Intelligence platform, the new ‘talk to transact’ feature lets personal and joint account holders use language prompts such as “Pay the plumber £200” or “Send Mum £20 for lunch”.
The Starling Assistant will prepare the payment ready for customers to authorise with a tap on their screen.
The feature is expected to reach all retail customers by the end of the year, with a similar service planned for small businesses. Business customers will be able to upload an invoice and ask the assistant to arrange payment.
Harriet Rees, Group CIO at Starling Bank, said: “Agentic payments are following mobile wallets as the next evolution of payments here in the UK. Gone is the need for multiple payment screens and laboriously inputting payment details. Now, payments and transfers can happen with a simple natural language conversation.”
Venmo adds receipt scanning to split bills
Venmo has launched a receipt-scanning feature that lets users split bills by individual items, automatically calculating each person’s share of tax and tip ahead of sending payment requests.
The feature allows customers to take a photo of a receipt or upload an existing image, which Venmo then itemises. Users can assign each item to the person who ordered it, adjust the split and have the app calculate the amounts.
The tool aims to simplify shared payments for occasions such as group dinners, trips and shopping. It also works across different mobile devices without requiring users to switch between apps.
Alexis Sowa, General Manager of Venmo, said: “Splitting the bill is one of the most common things people do on Venmo, but it can also be one of the most tedious. With receipt scanning, a pile of math goes away with a single photo. Venmo does the heavy lifting so customers can get back to what matters: the meal, the trip, or the night out with friends.”
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