Why some payments companies want to be banks
Why some payments companies want to be banks
- February 3, 2026
- Bill Maurer, anthropology and law, Banking Dive, Feb. 3, 2026
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“If you’re a fintech, you no longer need to rely on a partner bank for the banking services you offer,” said Bill Maurer, director of the Institute for Money, Technology and Financial Inclusion at the University of California, Irvine. Currently, companies like PayPal that offer deposit accounts can’t get those accounts insured through the Federal Deposit Insurance Corp., he said. The company could offer federally insured savings accounts if it had such insurance, which the charter would allow, Maurer said.
For the full story, please visit https://www.bankingdive.com/news/why-some-payments-companies-want-to-be-banks-paypal-affirm-checkoutcom-stripe/811226/.
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