Infinant Acquires Figure Pay's Card Processing Technology to Strengthen Digital Payment Capabilities for Banks [Yahoo! Finance]
Digital Brands Group, Inc. (DBGI)
Company Research
Source: Yahoo! Finance
that it has completed a definitive agreement to purchase Figure Pay's Card Processing Technology built by Figure Technologies. The companies will also partner to deliver new card products for Figure Markets and Infinant's banking partners. Through the acquisition, Infinant is adding to the company's next-generation digital payment capabilities, including real-time debit card issuance and processing, as a feature of Infinant's Interlace Platform. Infinant has leap-frogged standard card and payment processors by combining payment hub processing with their virtual banking platform, allowing banks to handle end-user and operating accounts on a single platform above the core. Figure Pay provides a cutting-edge card processing technology solution that drives efficiency across the payment ecosystem. While banks rely on monolithic core systems or outsource to BaaS providers, Infinant flips the model, allowing them to control their programs and maintain regulatory and compliance controls
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News
- DBG Announces Launch of AVO, A New Direct-To-Consumer Brand, After Successful Beta TestGlobeNewswire
- Digital Brands Group, Inc. (DBGI) Q2 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Digital Brands Group GAAP EPS of -$2.08, revenue of $3.4M [Seeking Alpha]Seeking Alpha
- Digital Brands Group Reports Second Quarter 2024 Financial ResultsGlobeNewswire
- Digital Brands Group to Report Second Quarter 2024 Financial Results on Monday, August 19, 2024 [Yahoo! Finance]Yahoo! Finance
DBGI
Sec Filings
- 9/11/24 - Form S-1
- 9/4/24 - Form 424B3
- 9/4/24 - Form 8-K
- DBGI's page on the SEC website