February 2025: Top five new launch stories of the month
From new digital banks to innovative checkout tools, several pioneering services have been introduced in the fintech space this month.
Here, we run through five of the top new launch stories in February, featuring Mastercard, STC Bank, Zeller and more.
Mastercard launches new One Credential checkout solution
Mastercard debuts One Credential solution
Mastercard has unveiled its new One Credential solution designed to enable consumers to leverage multiple payment methods at the point of purchase through one consolidated account.
The checkout solution aims to offer consumers a way of completing purchases without needing to toggle between different cards and payment methods, bringing together debit cards, prepaid cards, credit and instalment options.
The solution connects to both online portals and banking apps, through which consumers can manage payment preferences, and is particularly targeted at Gen Z, with the wider availability of structured credit intended to help boost credit scores.
Australia’s AMP launches new digital bank focused on small businesses
Australian financial services company AMP has launched a new digital bank targeting “under-served small and micro businesses, solopreneurs, side hustlers, and everyday banking customers”.
The new venture, named AMP Bank, is powered by Starling Bank’s Software-as-a-Service (SaaS) technology platform Engine, selected by the Aussie firm in 2023.
AMP Bank supports features designed to enhance accounting and cashflow management for merchants, including spending controls, detailed breakdowns, and fee-free international currency conversions.
Furthermore, in an attempt to improve security and reduce the risk of fraud, the offering introduces Australia’s first numberless debit cards – a product that Starling itself has not yet implemented, according to a blog post by Engine CEO Sam Everington.
STC Bank launches operations in Saudi Arabia after receiving green light from SAMA
STC Bank has launched operations in Saudi Arabia
STC Bank, a subsidiary of state-owned Saudi Telecom Company, has completed its pilot phase and received clearance from the Saudi Central Bank (SAMA) to launch digital banking services in the Kingdom.
In a statement, SAMA says it has granted “no objection” to STC Bank to commence banking operations in the Kingdom. The central bank previously approved the beta launch of STC Bank, then known as STC Pay, in April.
The new digital bank will leverage the clearance to launch “financial solutions that elevate banking services for individuals and [the] business sector”, according to CEO Nizar Altwaijri.
These currently include payment cards with expense tracking and money transfer services for consumers, as well as merchant accounts and payment solutions, including QR and payroll, for businesses. The firm will also roll out a sharia-compliant financial services suite approved by the bank’s sharia board.
Capital on Tap partners ClearBank for business savings accounts
Small business credit card provider Capital on Tap has tapped ClearBank to launch business savings accounts.
The embedded banking service has been integrated directly into Capital on Tap’s existing user portal, through which customers can now access interest-bearing accounts, with deposits held by the Bank of England.
The accounts seek to enable businesses to “build financial security”, comments Capital on Tap COO, Alex Miles.
According to a statement from ClearBank, the project began in 2023, with integration starting in April. Following an initial beta testing phase in October, the service was officially launched to the market in February.
Australian fintech Zeller introduces “all-in-one” business banking solution tailored for start-ups
Zeller for Start-ups launched for tech founders in February
Australian fintech Zeller has unveiled what it calls the country’s first “all-in-one financial solution for tech founders”, aiming to take on “outdated banking designed exclusively for traditional businesses”.
Zeller for Start-ups, which the fintech says will be available “in the coming weeks”, will feature tools designed to help founders start and scale their businesses, including real-time expense tracking, virtual and physical cards, fee-free transaction accounts and high-interest savings accounts, among others.
The launch expands Zeller’s existing product suite, which includes EFTPOS terminals, Tap to Pay services, invoicing options, and a variety of corporate card and business account products.
