The news: Major payments firms and fintechs noted that their businesses were mostly uninterrupted despite some close ties with now-collapsed Silicon Valley Bank, per Payments Dive.
- Visa and Mastercard said their debit and credit cards continued to function without any disruptions throughout the crisis, executives told analysts at a recent Wolfe Research Conference.
- Affirm said SVB was neither a funding partner nor an originating bank partner, and that large banks held the majority of its operating accounts. While it initially paused disbursements to merchants that had SVB accounts, it later resumed those transactions.
Read the original article on Business Insider