NY Fed teams with Singapore on CBDC study

The two central banks tested digital ledger technology for payments across multiple currencies in less than 30 seconds.

Fed official stresses importance of dollar’s standing

“For the dollar to maintain its status, it is important for U.S. elected officials and other policymakers to make decisions that instill confidence in our economy and institutions,” a New York Fed official said Thursday.

Bill Holdings discloses ‘material weakness’

Despite that finding, the company noted an independent auditor’s evaluation of the company’s 2022 financial statements “remains unchanged.”

Worldpay spin-off hands FIS mixed bag

The payments processing and technology company will keep a stake in the Worldpay unit, but take on higher-interest-rate debt.

ACI boots chief technology officer

ACI Worldwide has fired its chief technology officer just as it’s gearing up for the FedNow real-time payments system.

PayPal considers Xoom sale: report

The digital payments company is considering a sale of its Xoom cross-border business, The Information reported, citing an unnamed source.

Global Payments execs hint at B2B acquisition

Global Payments isn’t looking for more acquisitions — except in the B2B space, its outgoing CEO said.

Square adds franchise platform

Block-owned Square said the tool lets restaurant franchisors monitor multiple units on one dashboard.

Card debt weighs on consumers

First-quarter credit card balances jumped 17% over the same period last year, according to New York Fed data.

PayPal urged to accelerate CEO search

The digital payments pioneer faces pressure from investors to name CEO Dan Schulman’s successor sooner rather than later.

Catch chases in-store opportunity

Currently focused on e-commerce, Catch seeks to bring its ACH payment option into stores. 

How to advance cross-border B2B payments

“Regional regulatory bodies must work together on common financial standards that support multilateral payment systems if we are to make progress,” writes one payments professional.

Revolut CFO leaves digital bank for ‘personal reasons’

The company’s finance head is the latest to depart the troubled fintech as it fends off regulatory and financial concerns.  

Discover pursues ESG goals

The card company this week issued a new report on the environmental, social and corporate governance aspects of its business and its aspirations.

Paysend charges into US market

From a new U.S. headquarters in Miami, the British cross-border payments company is pitching services to U.S. businesses and consumers.

Convenience chain adds Amazon palm pay

Energy Mart is the second convenience store chain to install the palm-scanning technology that’s also being used in sports arenas and Amazon’s own brick-and-mortar retail locations.

Everee takes on EWA providers

The payroll provider is angling to disrupt the earned wage access companies that have been making it easier for employers to offer workers on-demand pay.

Affirm, FICO to create BNPL credit-scoring model

The “first-of-its-kind” model will enable buy now, pay later loans to be factored into lending decisions, Affirm’s CEO said.

Marqeta to cut workforce by 15%

The card-issuing fintech plans to dismiss about 150 employees in an effort to become profitable. It aims to reduce annual costs by as much as $45 million.

What does the buy now, pay later boom mean for food retailers?

As more shoppers turn to short-term loans to buy groceries, there may be a shift in how people think about paying for essential goods, experts say.

Senators call out banks on card late fees

A group of lawmakers asked the CEOs of large credit card issuers to explain their late fee practices.

PayPal growth driven by Braintree

PayPal's Braintree unit is bolstering the company's growth, but that expansion isn't as profitable as building its legacy business.

Payoneer hunts for acquisitions

Payoneer is considering acquisitions that could extend product offerings or expand its footprint in emerging markets.

Green Dot braces for profit margin pressure

Green Dot expects profit margins to be squeezed in coming quarters after the exit of some clients last year.

Synchrony, Wells Fargo, Bread Financial lead medical credit card market: CFPB

The medical credit card industry has expanded in recent years as healthcare providers promoted the cards to patients, the agency said in a report.