The Latest
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Auto dealers tap U.S. Bank for real-time payments
U.S. Bank is using The Clearing House’s real-time payments system to offer auto dealers the option for speedier delivery of loan funding.
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Drew Angerer via Getty Images
Green Dot battles Uber, loses contracts
Green Dot disclosed in its recent quarterly report that it’s in a dispute with ride-share company Uber over their agreements. It also noted its failure to renew contracts with several other customers.
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Flywire posts net loss despite customer wins
The payments software company posted a second-quarter loss despite client wins being higher than usual and revenue jumping more than 50 percent.
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BNPL faces headwinds from rising rates, inflation: Fitch
Higher interest rates may make it more expensive for buy now-pay later providers to offer financing while inflation may put off lower-income consumers.
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Jack Henry & Associates buys Payrailz
Jack Henry management expects the Payrailz purchase to help its bank, credit union and other financial institution clients modernize their payments services.
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Payments buyout burst in August signals more M&A
A burst of acquisitions in the payments industry this month portend a jump in deal-making for the remainder of the year.
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Courtesy of Erica Zeidenberg
Paystand buys Yaydoo in Latin American push
Paystand’s purchase of the Mexico-based company was its first acquisition, and the company said it’s prepared to do more deals.
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ColumnLet the credit card battle begin
Banks that issue credit cards and the retailers who hate their fees are lining up allies on Capitol Hill to fight over a new bill that calls for more competition in the industry. Visa and Mastercard are at the center of the conflict.
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Consumer spending rises despite inflation: Mastercard
While card issuers are bracing for economic headwinds, consumer spending has continued to rise recently, including for apparel, jewelry and travel.
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Payments companies swap out CFOs
Amid macroeconomic pressures, FIS, PayPal, MoneyGram and Shift4 all appointed new CFOs this week. The trend may also mean they’re paying more for them.
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Courtesy of Megan Cheung
Visa, Mastercard react to Pornhub ruling
The two card companies took action against an advertising entity tangled up in a California lawsuit against the pornography website, which the plaintiff alleges illicitly posted images of her when she was a teenager.
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Block pulls back on expenses
The parent of Square is cutting $250 million in planned expenses for the year, after reporting another quarterly net loss on Thursday.
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Ilya S. Savenok / Stringer via Getty Images
Fiserv whittles workforce
The payments processor cut employees in the first half of the year and shouldered higher severance expenses, following a string of acquisitions in recent years.
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FIS extends tie with Chargebacks911 to fight fraud
The partnership is aimed at arming merchants with digital tools to reduce chargebacks, cut costs and combat fraud.
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The image by Achim Hepp is licensed under CC BY-SA 2.0
Gucci expands crypto payment options to ApeCoin, Euro Coin
More brands have entered the cryptocurrency and NFT markets despite signs of declining consumer interest.
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Courtesy of Amazon
FIS reduces 2022 outlook
The major payments processing company said higher interest rates, increased wages and foreign exchange rates were putting pressure on the business.
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Drew Angerer via Getty Images
PayPal takes new direction with Elliott
The payments pioneer is fine-tuning its strategy with Elliott Investment Management, which now has a $2 billion investment in the company.
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Amex rolls out B2B digital payment tool
American Express cited data showing nearly two-thirds of small and mid-sized business owners expect increases in their cross-border spending.
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Fizkes via Getty Images
B2B drives Q2 payments growth: Nacha
Healthcare and peer-to-peer payments also rose during the quarter over last year, the clearing house that runs the national automated system said.
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Joe Raedle via Getty Images
Will a swoon in valuations affect Block’s Afterpay?
Block acquired Afterpay for what was ultimately $13.9 billion in stock, but a string of fintechs writing down valuations in the face of economic pressures raises the possibility Block will be forced to do the same.
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Wex profits soar on rising fuel prices
Wex is benefiting from a jump in fuel prices, given its management of fleet credit cards, but its customers face more economic hurdles.
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Retrieved from Global Payments Spokesperson Matt Cochran on September 10, 2021
Global Payments buys Evo at a premium
Global Payments said it will pay $4 billion to buy Evo Payments as it sheds its Netspend consumer unit for $1 billion and takes a $1.5 billion investment from Silver Lake Partners.
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Legislation aimed at Visa, Mastercard lands
A new bill to curb Visa and Mastercard’s dominance of credit payments is likely to rev up a long-time battle between merchants and card companies.
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Mobile wallets gain traction in bill payments: survey
Consumers are increasingly interested in faster bill payment processing, a survey from payments firm ACI Worldwide revealed.
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Retrieved from Loves Furniture & Mattresses on January 11, 2021
ColumnCEOs Sound Off: Payments execs navigate economic turmoil
CEOs of three payments companies share how macroeconomic headwinds are affecting their businesses and how they’re seeing their firms through the uncertainty.
