S6 Ep5: Fintech Recap: Regulators Crack Down on BaaS, Buy Now Pay Later’s Newest Offerings, Paypal (Kind Of) Shocks the World

Alex Johnson
Alex Johnson
February 7, 2024

Just sit right back and you’ll hear a tale, a tale of a fateful trip. That started from this banking port aboard this tiny… okay, so we promise to give up on this BaaS island analogy eventually, but in the meantime, our cruise tickets over to BaaS island are non-refundable, so let’s dive into the latest happenings.

With Blue Ridge Bank strapped with a second enforcement action just 18 months after its first action, we have to ask— should consumers be alarmed? And with Choice Bank also disclosing its latest enforcement action, is this more of a reflection of the apps they’re associating with (*cough* Mercury and Synapse *cough*) or is it simply an indication that regulators don’t know how to handle the level of automation and scalability in BaaS?

Meanwhile, over in Buy Now, Pay Later land, Jason and Alex chat about the recent product offerings that Affirm and Klarna have vowed to provide, including subscription-based services and high-yield savings accounts. But more importantly, what is the point of this to consumers? Is it partially due to Klarna’s hopes to IPO or is this just pointless noise?

According to PayPal, PayPal shocked the world. Or, um… at least they shocked one person, somewhere with their latest announcement. Jason denounces PayPal’s latest aggressive PR push, while Alex plays devil’s advocate, suggesting the brand might be going back to the basics for the better.  

Plus, the guys discuss whether the $3.1 billion valuation of Bilt Rewards is justified, what’s up with God convincing a pastor to sell his worthless cryptocurrency, and who owns the .ai domain name. 


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Alex Johnson
Alex Johnson