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PayPal invests $50M more in Black, Latinx funds

PayPal is placing the money with 11 Black and Latinx-led venture capital funds to "expand wealth creation opportunities," doubling up on an initial investment last year.

UPDATED: June 3, 2021 at 11:25 a.m.

Visa's results show rising consumer demand

The card giant's May performance released Tuesday underscores the economic recovery that economists have been predicting.

Parthenon Capital, Tiger Global fuel payments sector 'boom'

Competition among firms to invest in payment industry companies is driving up fundraising amounts and valuations.

Sift acquires Chargeback to crack down on rising payments fraud

Sift is beefing up its ability to fight rising e-commerce fraud through its acquisition of software-as-a-service company Chargeback.

Paymentus raises $210M in IPO, eyes international expansion

The company aims to acquire other companies as it pursues expansion in the European, Asia-Pacific and LatAm markets.

E-commerce fraud prevention startup Forter raises $300M

The recent funding round, which the company will use to expand its global ecosystem, brings the company's valuation to $3 billion.

Deep Dive

Fintechs attack cross-border business payments as banks and legacy players rush to innovate

Nonbank fintechs are gaining ground, mainly with small company customers, but target larger ones for cross-border business, even as competition gives way to symbiotic 'coopetition' with larger bank incumbents.

Visa expands reach of fintech partnership program

The card network behemoth is doing its part to help banks connect with fintechs that it believes can help bring more business to all the companies moving money through the system.

Fiserv, PayMyTuition partner to ease Chinese student tuition payments

The partnership will provide services for Chinese student tuition payments to educational institutions in Australia and Singapore and expand to other parts of the world. 

Sunbit raises $130M, doubles down on BNPL for auto-repairs, elective healthcare

Sunbit is offering buy now-pay later financing services in those categories partly because of their "stickiness" in customer relationships, Sunbit CEO Arad Levertov told Payments Dive.

Square may soon offer small-business checking and savings accounts, app code shows

The code indicates the company will not charge monthly service fees, minimum balance fees or overdrafts on its checking account, and will offer a 0.5% interest rate on its savings account through 2021, Bloomberg reported.

Payments giant FIS makes another crypto move, expanding in Europe

"We’ll be well-positioned to handle (cryptocurrencies) across the whole ecosystem in the marketplace," FIS President Bruce Lowthers said at a recent industry conference.

ReCharge eyes European expansion, raises $227M in capital

The company, founded in 2014, provides e-commerce businesses the opportunity to add subscription-based payment options for recurring payments. 

Federal Reserve to kick off conversation on CBDC

Federal Reserve Chairman Jerome Powell said yesterday that the Fed will issue a paper this summer to begin a public discussion about the possibility of a central bank digital currency.

Credit Rich offers millennials, marginalized communities more credit tools

"We created Credit Rich to provide people with the opportunity to take the burden [of debt] off them by helping them understand how the credit system works," said Angel Rich, CEO of Credit Rich parent WealthyLife.

Square and Plaid partner to provide ACH payments to merchants

Square aims to draw larger merchants to its services with the new offering, while continuing to cater to smaller businesses growing into the middle market.

Wells Fargo to offer crypto investment product for wealthy clients

The bank's decision to wade into crypto follows similar moves made by other large institutions, and comes as the nation's top bank regulator has indicated it plans to review past crypto-friendly actions.

Major payments trade group weighs in on CBDC development

The Electronic Transactions Association is touting principles on interoperability, consumer protections and risk safeguards in Washington discussions about a central bank digital currency.

Point of sale tech upgrades to drive payments to $17.3 trillion by 2026, research says

As cash based transactions dwindle and technology upgrades payment methods, transactions processed by hardware point of sale are set to increase by 28% over the next five years, a Juniper report found.

Payments firms draw another $275 million in venture capital

DailyPay and Amount are the latest companies in the industry to attract investors' dollars.

Cedar to acquire OODA Health for $425M to digitize, simplify healthcare bill payments

The two companies join forces to digitize medical bill payment processes after the pandemic increased telemedicine use.

Neobank Lance targets gig economy's income volatility

The New York City-based challenger divides a user's payments into sub-accounts for salary, tax withholdings, business expense balance and a savings account automatically.

Green Dot doubles down on tax refund processing

The fintech will bulk up its tax refund processing services with the acquisition of Republic Bank's tax refund processing unit for $165 million.

Stripe, PayPal drive payments acquisitions spree with 2 more deals

Stripe's acquisition of fraud prevention company Bouncer, and PayPal's deal to buy Happy Returns, are latest deals driving payments industry M&A.

The Clearing House nudges businesses to buy into real-time system

The U.S. real-time payments system has invested $320 million in a real-time payments network, and now wants businesses to invest in their own systems to use it.