The Latest
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Plaid cuts 260 employees
The fintech’s 20% downsizing follows moves by neobank Chime to slash 12% of its workforce and Morgan Stanley's plan to cut its headcount by 1,600.
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Circle’s $9B SPAC deal falls apart
The stablecoin issuer and the blank-check company that had hoped to take it public terminated their agreement over the wait for SEC approval.
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Fiserv stands by profit margin expansion target
The tapering of First Data merger and integration costs may allow the payment technology company to expand its profit margin in the fourth quarter.
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Visa CEO’s pay dipped to $28M this year
The value of Al Kelly’s compensation package slipped in his swan song year, ahead of handing off the CEO post next year to Ryan McInerney.
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FTX fallout spurs regulatory fears
Payments industry professionals, including at the software security firm Fireblocks, worry that the crypto exchange’s downfall could trigger a regulatory backlash against digital assets.
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TIB taps Jack Henry for tech refresh
As it aims to compete with bigger financial institutions, the bank TIB picked Jack Henry to provide it with a technology infrastructure upgrade.
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First US non-Amazon-owned grocer to use palm-scanning tech
The retail giant is serving as a technology vendor to an independent grocer reopening soon in Kansas City, Missouri.
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Shift4 buys European payments provider for $126M
The purchase of Online Payments Group will bolster Shift4’s international expansion plans, the company's CEO said last week.
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Cantaloupe pays $41M to acquire Three Square Market
With the purchase, the vending and software payments company expands its reach internationally, as well as into another segment of the market.
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Panel blasts fintechs for missing PPP fraud
Fintechs like Womply and Blueacorn provided the “paths of least resistance” for fraudsters bilking the federal Paycheck Protection Program, a House subcommittee said Thursday.
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Affirm mulls consumer, merchant fee increases
The buy now-pay later provider is contemplating increases in the interest rates charged to consumers for some of its loans as it aims for profitability.
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Amex debuts B2B payments system
The card company is adding to its product line-up in an attempt to cater to small businesses as they try to recover from COVID-19 pandemic lows and face inflationary pressures.
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Credit card delinquencies, charge-offs climb
Despite the increases, consumers are still faring better in paying off balances than they were prior to the COVID-19 pandemic, according to S&P Global Market Intelligence.
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Harvard researchers flag BNPL risks
The working paper shines a spotlight on BNPL risks just as the payment method lures more consumers amid high inflation.
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NFL expands Fortnite presence with Visa
The NFL Zone will be a persistent presence featuring mini-games, virtual tailgating experiences and content from creators.
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Amazon adds store with Just Walk Out tech
The 5,000-square-foot location in Southern California marks the latest addition in a region where the e-commerce giant operates numerous brick-and-mortar retail stores.
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Struggling consumers turned to financing for holiday shopping: report
Buy now-pay later providers saw increased use during Black Friday, but credit and debit were the top payment methods for online orders.
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FIS, Fiserv could benefit from credit legislation
Legislation aimed at creating competition for card giants Visa and Mastercard could be a boon for payments companies FIS and Fiserv.
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ACI charts 15% rise in holiday e-commerce
The payments software company said buy now-pay later made a big showing as e-commerce shot up for holiday shopping between Friday and Monday.
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Visa growth tapers in October, November
The card network’s payments volume grew in October and November, relative to last year, but at a slower pace than earlier in the year.
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Afterpay BNPL transactions climb
Afterpay transactions more than doubled last week relative to the first week of October, Block reported, as more consumers leaned on buy now-pay later financing.
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Banks discuss refund rule for customers defrauded on Zelle: report
Under measures being discussed, banks would share liability inside Zelle’s system and guarantee to reimburse one another, sources told The Wall Street Journal.
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NJ official: No reason to doubt Fiserv job growth plan
Fiserv “has given us no indication that (the company has) any change of plans in New Jersey,” said Tim Sullivan, CEO of the state’s Economic Development Authority.
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PayPal counts on its digital app for gains
The digital payments pioneer is scouting for new ways to increase customer use of its digital wallet, including plans to add a new Venmo teen account.
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Winners, losers on Black Friday
With inflation looming, consumers yearned for deals and sought financing options, such as buy now-pay later installment payments.
