The Latest
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OpinionCEOs Sound Off: BNPL takes aim at healthcare, legal costs
Companies offering installment payment options for healthcare, legal and auto repair say that buy now-pay later options will satisfy growing consumer demand.
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Caitlin Mullen/Payments Dive, data courtesy of Industry Dive employee Caitlin Mullen
Klarna revamps operations, cuts 700 employees
Klarna, a major buy now-pay later player and Europe's highest value fintech, has "re-evaluated" its business and made "really tough decisions" that include cutting 10% of its workforce, the CEO said.
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Courtesy of Tag Heuer
Tag Heuer accepts crypto as payment
CEO Frédéric Arnault suggested cryptocurrency fluctuations are a risk companies will need to take on if they allow this form of payment.
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Billtrust to stay on acquisition streak
Billtrust, which focuses on the accounts receivable side of B2B payments, has acquired two European companies in recent months and plans to continue snapping up other firms.
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Big tech pushes passwordless for payments
Google, Microsoft and Apple this month began a big, new push in their campaign for a passwordless standard that's aimed at improving digital identity verification, including for payments.
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Albertsons expands smart cart pilot
The carts act like self-checkout machines, with the computer vision system and barcode-scanner logging the products a customer tosses into the cart.
Updated May 20, 2022 -
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Fiserv shareholders approve severance curbs
A proposal to subject certain severance agreements to a shareholder vote — which the board was not in favor of — was approved during Fiserv’s annual meeting Wednesday.
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BNPL player Zilch expands to US
Instead of collecting fees from retailers to move merchandise from their shelves, Zilch is linking with brands like Sephora and Nike to lure consumers looking to finance their purchases through installment payments.
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Courtesy of CashApp - Square
SoundHound, Square launch tool for restaurant orders
The voice app company SoundHound AI is rolling out a service for restaurants with Block's Square that answers phone calls, takes orders, accepts modifications and sends confirmations to complete payments.
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Restaurant payments startup SpotOn raises $300M
SpotOn plans to use the capital to develop new products and services, the San Francisco-based company said. The funding round was led by Dragoneer Investment Group.
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Block bets on bitcoin
“We are no longer just a payments company,” Block CEO Jack Dorsey said at the company’s investor day Wednesday.
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FIS knocks Fiserv out of No. 2 merchant acquirer spot
In a competitive field of merchant acquirers, FIS bested Fiserv last year as JPMorgan Chase held its lead, according to a ranking from The Nilson Report.
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Courtesy of Mastercard
Mastercard to launch biometric checkout tool for retailers
The company plans to try out facial recognition and hand-scanning technology in multiple countries.
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Kaarin Vembar/Payments Dive
Amazon Fresh spearheads East Coast expansion
The chain plans to open locations on Long Island and in the Garden State, expanding its use of the cashierless payment technology and hiring "hundreds" of workers.
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The image by Ted Eytan is licensed under CC BY-SA 2.0
CFPB carves out new competition angle for oversight
A former CFPB enforcement director told an audience of payments professionals this week that they'd best be prepared for the agency to expand its oversight by way of its markets authority.
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Courtesy of Klarna
Klarna debuts virtual shopping tool
The platform is adding more services as the buy now-pay later industry faces more regulatory scrutiny.
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BNPL giant Affirm counts on debit card for growth
The San Francisco-based company said the product is being “rolled out to tens of thousands of consumers" through a beta program.
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Zowy Voeten via Getty Images
Affluent consumers may drive $257B in spending
The wealthiest U.S. consumers are eager to open their wallets again, especially for travel, though there is one possible caveat, predicts Visa's chief economist.
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Amex, Discover get top marks in direct banks survey
The No. 3 and No. 4 card companies, which also hold bank licenses, scored highly in customer satisfaction among online-only banks, J.D. Power found.
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SEC enforcement attorney predicts 'a lot more fraud' in crypto markets
The SEC will turn to litigation if needed to achieve “clarity” as it fights abuses in cryptocurrency markets, according to an attorney in the agency’s Enforcement Division.
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Three US cash trends persist, Fed report says
The COVID-19 pandemic led U.S. consumers to change up their payment habits, but three long-term cash trends have mainly persisted, according to a Federal Reserve Bank report issued this month.
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OpinionAre restaurant operators eating too many fees?
"I’ve been disappointed to see how the payments industry is constantly looking for ways to profit off of small businesses in sneaky ways," says Copper CEO Dickson Chu.
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World Bank forecast for cross-border payments rises
The international bank expects remittances to climb 3.7% to $802 billion this year. That's more than was previously expected and the increase is partly due to the upheaval in Ukraine, the World Bank said.
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Tero Vesalainen via Getty Images
Deserve taps Goldman for credit facility
With the $250 million credit facility from Goldman Sachs and other backers, the Palo Alto, California-based digital card startup aims to keep financing an expanding clientele.
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Retrieved from Flickr/frankieleon.
Fed delivers mixed credit card data
While first-quarter consumer credit card debt rose relative to the same period last year, it dropped compared to the fourth quarter. Meanwhile, consumers' outlook on the availability of credit deteriorated.
