Wex CEO taps endurance to lead

Melissa Smith has led the payments software and services company for nearly a decade, navigating once-in-a-lifetime events and spearheading an aggressive acquisition strategy.

Small business card debt has risen: Bank of America

Credit card spending for small businesses has largely been flat relative to last year, but balances have risen, the Bank of America report said.

PayPal’s new CEO builds team

Alex Chriss, PayPal's chief executive officer, is lining up outsiders as managers as he seeks to drive profitable growth at the digital payments behemoth.

Shift4 CEO entertains acquisition interest

CEO Jared Isaacman said the payment processing company is fielding acquisition interest from “several parties.”

Affirm adds account to bolster card

The buy now, pay later provider’s account will offer savings-level interest, ATM access and direct deposit, Affirm executives said. 

Forter executive offers 2024 payments predictions

The new instant payment rail FedNow is set for a “roller coaster” next year, according to Forter Head of Financial Partnerships Jeff Hallenbeck.

ADP, Convera partner on payroll, payments

The two companies have collaborated to integrate Convera’s payments services into ADP’s payroll software.

DailyPay wage payments delayed due to Friday snafu

The early wage access company didn’t immediately make some payments to workers because of a snag related to the Veterans Day holiday.

The Clearing House nabs top Fed official

The new hire is tasked with boosting adoption of The Clearing House’s RTP real-time payments system, as the new rival Federal Reserve FedNow system seeks to attract clients.

Lightspeed aims to fend off rivals on international stage

Competing restaurant point-of-sale players have set their sights on international growth, but they’re likely to find the European market tougher than the U.S. market, Lightspeed’s CEO said.

BNPL companies face grim outlook, Moody’s says

Fierce competition, persistent losses and regulatory constraints are likely to push some players out of the buy now, pay later market, Moody’s predicted.

EU digital identity wallet to stir paytech market

The EU would require big tech companies, like Apple and Google, to offer their customers payment services through the new digital identity wallet if the regulation is approved.

Sociable: Meta inks deal with Amazon to facilitate Facebook, Instagram shopping

The new deal will enable Amazon merchants to connect with Facebook and Instagram users.

Flywire scoops up Australian firm

The $38.8 million acquisition of StudyLink will expand Flywire’s presence in the Australian higher education market, the company said.

Bitcoin Depot CEO weighs in on new California law

Bitcoin Depot CEO Brandon Mintz contends a new California law will “create economic challenges” for his company and other crypto ATM operators.

FIS forms board committee to review litigant demands

Fidelity National Information Services disclosed that its board has formed a committee and hired an independent counsel to review demands tied to a stockholder lawsuit.

Affirm CEO welcomes CFPB oversight

Consumer Financial Protection Bureau supervision “levels the playing field” in buy now, pay later, Affirm’s CEO Max Levchin said Wednesday.

Jack Henry lands more FedNow clients

Jack Henry & Associates recorded an increase in the number of customers connected to the new Federal Reserve instant payments system, but they’re all in receive-only mode.

FTC, Florida reach $150,000 settlement with Chargebacks911

The Federal Trade Commision and Florida had sued the company for using deceptive tactics to prevent consumers from disputing credit card charges.

CFPB proposes new oversight for payment tech firms

Google, Apple and 15 other big non-bank technology companies that provide digital wallets or payments apps would be subject to increased regulation if a new Consumer Financial Protection Bureau rule is approved.

Millennial credit card delinquencies rise: New York Fed

Nearly 3% of millennials are newly delinquent as of the third quarter this year, slightly up from 2.5% in Q3 2019, according to a report from the Federal Reserve Bank of New York.

Toast’s growth slows

The restaurant fintech noticed “a modest slowdown” in same-store sales in the latter half of the third quarter that continued into October, the company’s CFO said Tuesday.

Citi fined $25.9M over alleged discrimination

The bank, between 2015 and 2021, denied certain credit card products to applicants with surnames ending in “ian” and “yan,” suffixes that Citi employees associated with Armenian national origin, the CFPB said.

FIS readies finances for Worldpay separation

Fidelity National Information Services took an accounting hit against its third-quarter results as it prepares to cast off its Worldpay unit early next year.

Micropayments poised to surge: Forrester

In the U.S., bank-based payments need to gain steam before micropayments can truly take off, but there are increasing signs that’s on track, said Forrester analyst Lily Varón.