Checkout.com Is Scaling Its US Ambitions
Hey Digital Banking Fanatic!
The US is becoming too important for fintechs to treat as just another market — and Checkout.com is putting serious money and infrastructure behind its push.
The company says its US payment volume grew 126% year over year, with total processing volume on track to pass $100B this year. It’s also rolling out new capabilities across direct acquiring, payouts, issuing, and payments infrastructure for platforms and marketplaces.
The bigger story is control. With its US direct-acquiring setup, Checkout.com can access card networks directly, while the broader product expansion gives merchants more control over how they accept, move, and manage money.
And while fintech infrastructure players are scaling globally, the battle between traditional banks and digital-first challengers is playing out very differently in Brazil.
Let’s get into today’s Digital Banking stories. 👇 See you on Monday!
Cheers,
INSIGHTS
💡 Itaú Unibanco vs. Nubank: Scale vs. Efficiency in Brazil’s Banking Market. Itaú still generates more than twice Nubank’s profit, with a R$1.5T credit portfolio, but Nubank is growing far faster while operating at roughly half the efficiency ratio (19.5% vs. 37.4%) and delivering higher ROE. The contrast highlights two very different models: Itaú’s balance-sheet scale and stability versus Nubank’s growth, efficiency, and digital-first economics.
NEWS
🇺🇸 Checkout.com records triple-digit US growth, launching new products across North America. Q2 2026 US payment volume grew 126% YoY, with total processing volume on track to exceed $100 billion by year end. New capabilities span direct acquiring, payouts, issuing, and ISV solutions.
🇱🇧 Bank Audi and Mastercard launch an initiative to empower 10,000 Lebanese entrepreneurs to join the digital economy. Eligible businesses receive free bank accounts and Mastercard business debit cards, with Mastercard providing digital acceptance solutions and merchant training programmes.
🇪🇺 Solidgate partners with Klarna to bring flexible payments to merchants across Europe, including the Baltics and Central and Eastern Europe. Merchants on Solidgate's platform now access Klarna's BNPL options across Pay in Full, interest-free installments, and longer-term financing for its 120M+ shoppers.
🇩🇪 BW-Bank expands its digital investment offering to include crypto trading for retail clients via Bitpanda Enterprise. The rollout extends an existing LBBW Group partnership, letting retail customers buy and sell selected crypto assets through their securities account.
🇺🇸 Nu launches in the United States and introduces Nu Global, marking its expansion beyond Latin America. The digital bank now offers a full U.S. banking suite alongside a multi-currency account spanning 35+ countries. Nu serves over 140 million customers and is positioning itself as a global digital banking platform.
🇱🇺 Revolut looks to expand its Luxembourg footprint, recruiting for local roles as it reportedly applies for crypto-asset and electronic money licences. The move signals a deeper European regulatory presence for the British FinTech. Read more
🇪🇺 Revolut joins MetLife to offer payment protection insurance on its loans, available for contracting directly from the app. The coverage is designed to protect borrowers against unexpected events that could affect their ability to repay.
🇺🇸 Community and regional banks are choosing FIS to accelerate modernization of their core banking infrastructure. The partnership aims to help smaller institutions compete with larger players through updated technology. Keep reading
🇮🇳 Revolut India CEO urges rethink of AI job cuts, calling the trend a "no-win" for companies at the Global Fintech Fest 2026. Paroma Chatterjee said businesses should create roles that work alongside AI rather than replacing people. Revolut's own AI model Pragma, built with NVIDIA, boosts efficiency in fraud detection and credit analysis without relying on layoffs.
🇺🇸 Lumin Digital advances secure open banking connectivity with MX, strengthening data sharing capabilities for credit unions and banks. The collaboration aims to give financial institutions more control over how consumer data is accessed and shared. Read more
🇺🇸 First Internet Bank promotes Nick Campbell to Chief Lending Officer. Campbell takes on expanded responsibilities overseeing the bank's lending operations. Read more
🇬🇧 Zopa Bank appoints Bruce Fletcher and Paula Walter to its board, strengthening governance as the digital bank scales. The appointments add experience across financial services and technology leadership.
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