S7 E9: Fintech Recap: Synapse vs. the World, Visa Flex Credential, Buy Now Pay Later Reclassified as a Credit Card

Alex Johnson
Alex Johnson
June 5, 2024

We won’t lie— we’re exhausted. Are you exhausted from keeping up with one of the most tiring stories in financial services?

Jason Mikula certainly is, and he’s summoning the strength to join Alex to chat about the current drama between Synapse, Evolve, and Tabapay yet again. Things have devolved on BaaS Island from Lord of the Flies to a straight-up Battle Royale. Can anyone manage to make sense of Synapse’s ledger? The guys do their best to tally up all of the financial damage the bankrupt company has caused. But the better question is, will any of its end users see their money back anytime soon? 

Then, Jason and Alex get into Visa’s latest offering, Visa Flex Credential. Will the new card that flexes between funding sources (credit or debit) lead to new innovations?

And what’s up with the CFPB’s reclassification of Buy Now Pay Later as a credit card? Does this actually change anything, or is it all a bunch of semantics? 

Plus, in this week’s “Can’t Let It Go,” Jason’s hung up on Solo Funds, the community finance platform being sued for dark patterns that had some mysteriously deleted tweets, and Alex can’t let Revolut’s bizarre hostage-like scam prevention photos go. 

Yeah, there’s a lot to unpack on that last one. Let’s get into it.


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01:23 Synapse vs. the World

27:10 Visa Flex Credential

40:05 Buy Now Pay Later Reclassified as a “Credit Card”

49:25 Can’t Let It Go

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Alex Johnson
Alex Johnson