Fifth Third Backs Payload's Embedded Payments Expansion
Fifth Third has led a strategic investment in Payload to support expansion of its embedded payments platform. Payload, founded in late 2019, processed its first payment in January 2020 and nearly $500 million in May alone, according to the release.
Why it matters — A FITB watcher would care because this investment positions the bank in the growing embedded payments space via a fast-scaling platform partner.