The Latest
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Payments execs detail SVB impact
The Silicon Valley Bank downfall that sent shockwaves through the financial industry forced fintechs, such as Affirm and Marqeta, to react fast.
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FedNow aims for late end of launch period
The Federal Reserve is targeting July, as opposed to the earlier end of its prior range, for starting its new real-time payments service.
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Fiserv, Jack Henry CEOs react to bank crisis
Payments processors’ CEOs this week described how their companies were affected by the recent bank industry turmoil, downplaying the impact.
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Retrieved from Meijer.
Meijer, Flashfood expand tie-up to include SNAP payments
The Midwestern grocer is the first of the food waste solution company’s partners to make the payment method accessible on the company’s app.
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Visa, Mastercard depict bank failure impact
As bank card issuers faltered this past weekend, the card networks monitored payments closely, Visa and Mastercard executives said at a conference.
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Amex bets on millennials, Gen Z for growth
As it pursues younger consumers, the company is angling to ensure its high-fee cards offer enough value for millennials and Gen Zers.
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Tilia C-suite gets overhaul
The payments startup has a new team of top executives to spearhead payments for gaming, social media and other next-generation marketplaces.
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Retail brands react to Silicon Valley Bank’s collapse
The merchants explained how the SVB situation had affected their sales, online commerce, payments and finances.
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Payments players caught in SVB fallout
As the banking crisis spread, payments players, such as FIS, and venture-backed firms, including Payoneer, were caught in the contagion.
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Affirm courts Amazon for more business
Even as it angles for an increase, the buy now, pay later provider’s CFO acknowledged Thursday that its juggernaut e-commerce partner has other BNPL options.
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Amex follows rivals in ditching gun code
Visa, Mastercard, Amex and Discover all said separately Thursday they’re holding off on earlier plans to implement a new gun merchant category code on their card networks.
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February retail, restaurant sales rise: Mastercard
U.S. retail sales climbed about 7% in February over last year, alongside increases in restaurant and travel spending, Mastercard said in a report.
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USDA picks 5 states for mobile SNAP payments pilot
Illinois, Louisiana, Massachusetts, Missouri and Oklahoma are working with the government agency to expand payment options for SNAP consumers.
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FedNow may draw in low-income users
The real-time payments system due later this year could have particular appeal to unbanked and underbanked Americans, Fed researchers say.
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Pagos aims to check merchants’ payments costs
With a recent venture capital infusion for the merchant software tools provider, Pagos is planning to add jobs, including engineers.
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Shift4 needles rival Toast
Toast and Shift4 are battling to win larger customers in the intensely competitive restaurant payments arena.
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PayPal CFO hits the exit
PayPal CFO Blake Jorgensen, who has been on a medical leave since September, left his role Tuesday.
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Brex offers ChatGPT-style tools
The announcement comes as interest in ChatGPT is rapidly gaining momentum, even as some worry about potential privacy and security risks.
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Affirm exits Australia
Less than two years after launching in Australia, the buy now, pay later company is shuttering its operations there.
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Retrieved from Amazon press page.
Amazon Go to close 8 of its stores
The company will close the checkout-free stores next month as it struggles to get its physical retail footprint right.
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Paymentus picks ex-TiVo exec for CFO
The electronic billing and payment company’s CFO hire comes less than a month after it handed a change in control and severance agreement to its then interim CFO.
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Walmart shooter likely used card to buy gun
The gunman in a 2019 attack at an El Paso Walmart store likely used a credit card to buy his gun online. This story is one in a series of pieces tracking payment methods for guns used in mass shootings.
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PayPal leans on Venmo for growth
While the digital payments pioneer has kept its PayPal and Venmo operations separate, the parent company expects them to converge in about a year.
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Behind Synchrony’s decision to join Project Black
The private label card issuer decided it needed to do more to support entrepreneurs of color and women business owners so it teamed up with Ariel Alternatives.
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Banking technology provider Amount cut 25% of staff
The Chicago-based fintech, which was valued at $1 billion in 2021, recently initiated its second round of layoffs in less than a year.