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Payments called 'dominant driver' for fintech investment: KPMG

The rise of venture capital and private equity investment in fintechs is likely to lead to more mergers and acquisitions in the arena too, a KPMG report said.

Paysafe acquires SafetyPay for $441 million

The purchase, along with another recent acquisition, is allowing Paysafe to expand in the Latin American region.

Walmart looks for a cryptocurrency strategy leader

The retailer follows Amazon in seeking a subject matter expert for a field that is still largely unproven. 

Zelle owner doubles down on marketing, targets older group

The digital payment network's owner, Early Warning Services, is trying to break through post-COVID competition for consumers' attention by demonstrating new use cases for the American family.

Paypal, Venmo get into grocery stores

PayPal and Venmo have arrived in-store at their first grocery outlet, Giant Eagle, allowing that operator to accept their digital payment options at cash registers.

BlackBerry teams with Car IQ for in-vehicle payments

The companies are working together to create car payment systems with a “digital fingerprint” that securely connects a driver to a banking network.

Coinbase attracts big hedge fund clients

The company has attracted 10% of the top 100 hedge funds as customers, and it's ramping up marketing to increase the visibility of its products, the company's CFO said. 

Big bank, merchant groups weigh in on Fed rule clarification

Bank and merchant trade groups weighed in on the Fed's debit rule clarification at the 11th hour, digging in their heels in a long-time battle over whether to ease merchant access to increased debit transaction networks.

Amazon strikes back at Visa fees with surcharge

Retail titan Amazon is taking on Visa by imposing a surcharge in one part of the world and leaving open the possibility of extending it elsewhere to fight what it calls "Visa's high cost of payments."

Paymentus agrees to acquire Payveris for $152M

With the acquisition, Paymentus will expand its bill payment network and increase annual net revenue about 25 percent.

ZenBusiness launches money-management app

ZenBusiness positions itself as a one-stop shop for small business needs, but big tech rivals are also aggressively courting such micro-entrepreneurs.

Binance.US CEO resigns

Former regulator Brian Brooks is leaving the crypto exchange as the company faces scrutiny from the CFTC, Justice Department and IRS.

Debit rule battle dumps 500-plus comments on Fed

The Federal Reserve asked for public comment on a proposal to clarify rules regarding the processing of debit card transactions and it's getting an earful.

Opinion

New fintech tools must address demographic gaps in usage

"While overall fintech usage is up across all demographics, there were gaps in the usage of certain types of tools," says Brian Gilmore, a director at the non-profit Commonwealth. There is "a rich opportunity for fintechs and financial services providers to better serve financially vulnerable consumers."

Sable taps Wise for cross-border payments

Sable and Wise are teaming up on a new cross-border payments tool targeting expatriates and international students, among others. They're part of a pack of rivals trying to make moving money over borders faster and easier.

Synctera partners with Mastercard, Marqeta

Synctera’s new partners will help community banks work with fintechs on new debit card-issuing programs.

OCC conducting review of overdraft policies, acting comptroller says

Acting Comptroller Michael Hsu's remarks come as more banks are revamping their overdraft policies and as Democrats are calling for legislation that would rein in the practice.

Mastercard CEO pushes back against regulatory zeal

Mastercard CEO Michael Miebach tucked a warning for Washington into a recent discussion with analysts.

The convenience of buy now, pay later creates risks: Fitch

Fast underwriting, low credit barriers and lack of reporting are hallmarks of a fast-growing market for the credit services.

Square's Afterpay buy highlights BNPL craze

Afterpay's billion-dollar appeal hinges on a buy now-pay later craze that's attracting consumers, venture capitalists and competition worldwide.

Inside MoneyLion's quest to become a financial 'super app'

The neobank is diversifying its revenue sources and aiming to boost engagement frequency as it faces regulatory concerns and a pack of rivals.

Consumers 'ready and willing' to increase spending, Mastercard CFO says

“The U.S. has always been a laggard when it comes to contactless payments, but that’s changing,” Mastercard CFO Sachin Mehra told CNBC following the company's release of second-quarter earnings.

Square buys BNPL player Afterpay for $29B

The acquisition of the Australian buy now-pay later company is 12-year-old Square's biggest ever. With it, CEO Jack Dorsey aims to expand both Square's product suite and geographic reach.

Klarna acquires Apprl to boost retail marketing

By absorbing Apprl, Klarna will be better able to help retailers create social shopping content and track related sales.

U.S. payments volume rises on B2B, Healthcare

The national automated payments network led by Nacha logged another quarterly record, with the digital payment volume for the second quarter jumping nearly 10% and the value of those transactions soaring almost 25%.