S7 E5: Fintech Recap: Tipping is Bullshit, Synapse’s Final Chapter, & Pay By Bank’s Intriguing Future

Alex Johnson
Alex Johnson
May 8, 2024

The tulips are blooming and the windmills are churning—so where in the world is Jason Mikula this week? Jason calls into the pod live from the beautiful Netherlands to break down the latest in fintech news with Alex. 


First on the plate? The final chapter in the Synapse bankruptcy saga. After Synapse sold all of its assets to TabaPay for $9.7 million and settled its dispute with Evolve, it appears all parties are walking intact from the ordeal. What did we learn? And what BaaS drama is coming next?


Uber announced it will be implementing pay-by-bank. Not terribly surprising given large merchants’ obsessive focus on reducing payment acceptance costs, but will smaller merchants follow suit? And what do consumers think of pay-by-bank?


Also, pardon our French, but tipping in fintech is complete and utter bullshit. Fintech companies are NOT college students struggling to pay the rent, so why are companies like Dave begging consumers for tips? And how is earned wage access legislation allowing it to be a thing? Alex and Jason go off about tips and discuss the future of EWA. 


Plus, Alex and Jason tackle the consent order between the CFPB and BloomTech before diving into this week’s “Can’t Let It Go” segment (and let’s just say that tech needs to grow a tougher shell). 


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Newsletter: https://fintechbusinessweekly.substack.com/

LinkedIn: https://www.linkedin.com/in/jasonmikula/


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Alex Johnson
Alex Johnson