Today In Payments: InsurTech Oscar Health Files for IPO; Robinhood Margin Account Users 14 Times More Likely To Default
In today’s top news, Oscar Health filed for an IPO, and Robinhood borrowers are 14 times more likely to default on loans. Plus, Hyundai denied that it’s in talks with Apple about developing its self-driving car.
Oscar Health is going public, according to an S-1 filing with the U.S. Securities and Exchange Commission (SEC). The New York-based health insurer listed the size of the offering at $100 million, but that is subject to change.
A report from CBS MoneyWatch found that investors who borrowed money from Robinhood were nearly 14 times as likely to be unable to repay those loans, when compared to other brokerages.
Hyundai Motor Co. and its Kia unit announced on Monday morning (Feb. 8) South Korea time that they are not in discussions with Apple Inc. about teaming up on an autonomous car.
President Biden said reaching herd immunity by the end of the summer will be “very difficult,” but still expressed hope that activities like watching the Super Bowl will be able to return to normal by next year.
Keeping B2B supply chains running smoothly — and quickly — when cross-border commerce is involved requires payments flexibility and personalization. In the Global B2B Payments Playbook, Ragui Selwanes, director of business payments for Amazon Business, explains the value of configurable invoicing and virtual cards in giving global businesses the tools they need to compete.
The internet of money is getting a boost from DeFi and CeFi, two concepts that are moving past the early adopter phase to democratizing access to new internet payment and credit markets, Jeremy Allaire, CEO of Circle, told Karen Webster.
The Biden administration may ramp up scrutiny of debt collection processes, among other activities, tied to payment services like Venmo. Here are some of the near-term priorities – and what might lie ahead.