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Mercury's business bank launched in 2019. [1] In March 2022, the company began offering venture debt services to its customers. [5] In September 2022, the company launched a corporate charge card. [1] The company reportedly gained a significant number of new customers and deposits in the wake of the March 2023 Silicon Valley Bank failure. [3]
On May 12, 2014, Vantiv confirmed a $1.65 billion acquisition of Mercury Payment Systems LLC. [19] In November 2016, Vantiv acquired the US operations of Canadian payment processor Moneris Solutions. [20] In July 2017, the company announced its intention to acquire British-based Worldpay for $10.4 billion. [21]
Evolve serves as the partner bank for fintech companies like Branch, Marqeta, [10] Mercury, [11] and Stripe. [12] Evolve Open Banking also provides card services offerings, allowing companies to white-label Mastercard, Visa, and American Express cards.
In fact, 67 percent of Americans with credit card debt still attempt to maximize their credit card rewards, according to Bankrate’s 2024 Chasing Rewards in Debt Survey.
So if you carry a $1,000 balance on your credit card, you’ll be charged 0.057 percent interest the first day your balance passes your credit card grace period, which comes out to about 57 cents.
Mercury was founded in 2017 by Immad Akhund, Max Tagher, and Jason Zhang. [1] Mercury's business bank launched in 2019. [1] In March 2022, the company began offering venture debt services to its customers. [5]
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