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Andreessen Horowitz poaches Facebook digital wallet execs

Two executives who had been working on the Novi wallet project backed by Facebook will pivot to crypto investing for Andreessen Horowitz.

Half of CFOs plan to assess digital currencies for business: Gartner

“Sentiment towards digital currencies appears to be improving among finance leaders,” a Gartner researcher said.

Cross-border payments competition heats up

Three bank-backed payments companies are attempting to increase the speed of cross-border payments, jumping into an arena teeming with fintech rivals. 

Paytech firms outside US gain ground

Payment technology companies based outside the U.S. were big venture capital winners during the third quarter as funding soared to a new record, according to a report from research firm CB Insights. 

Payment tech lifts construction venture funding

New venture funding for Built Technologies, which provides finance and payment tech for the construction industry, contributed to contech firms attracting $2.1 billion this year, a Construction Dive analysis has found.

Affirm, Sezzle buy now-pay later options arrive at Target

As the holiday season nears, the big retailer has tapped BNPL providers Sezzle and Affirm to give consumers more payment choices. The BNPL players are building their US profiles by gathering in more partners.

Green Dot sued after ditching $165M deal

The prepaid card company was sued by Republic Bank, which alleges Green Dot breached a contract to buy its tax refund processing unit.

Spat erupts over postal banking pilot

Bank and trade groups derided the US Postal Service's new limited pilot program for financial services, but advocates say it could provide needed services for unbanked consumers and buttress USPS's operations.

Rich payment startups target B2B market

Veem and Melio are among the fintechs bulging with new capital and taking aim at the small and mid-sized end of the trillion-dollar business-to-business payments market.

Card critics call for credit routing scrutiny

One merchant group has opened up a new front in the battle against Visa and Mastercard, calling for more federal antitrust scrutiny of credit card routing.

Fiserv to create New Jersey corporate tech hub

The Wisconsin-based payments giant will invest $105 million in the new Berkeley Heights corporate campus where it expects to employ about 3,000 workers.

Square, TikTok tie-up will deliver fans to sellers

As part of the new partnership, TikTok users will be able to link to Square sellers' sites by clicking on videos and ads.

Mastercard to launch new BNPL service

Mastercard is teaming with some of the biggest companies in payments, including FIS, Synchrony, Barclays and Marqeta, to launch a new buy now-pay later service next year.

PayPal's Happy Returns partners with Staples

With the latest agreement in a series of retailer ties, 75% of Americans will reside within 10 miles of a Happy Returns location.

Visa to add big new office in Atlanta

The card behemoth said some of its top executives will move to the new Atlanta office, set to open next year and eventually host 1,000 employees.

Don't hold your breath for a US CBDC

Given the vast spectrum of American payment choices and slower U.S. digital advances, any central bank digital currency may be a long time coming. 

PayPal, Robinhood play business-model musical chairs

PayPal is trying out a high-yield savings like Goldman Sach's Marcus and Robinhood is following Coinbase's lead on crypto wallets.

Square, PayPal mobile wallets attract funds

The payment companies have seen significant increases in the total amount of money stored on their mobile wallets, but individual accounts still hold relatively small sums.

Toast raises $870M in IPO

Toast expects restaurants to increase technology spending to $55 billion by 2024, more than doubling the $25 billion spent in 2019.

Fed won't go it alone on CBDC

At a press conference Wednesday, Federal Reserve Chairman Jerome Powell emphasized the need for the Fed to work with Congress and the Biden Administration in moving ahead on any cental bank digital currency.

Mastercard Executive Chairman to exit

Mastercard's long-time leader Ajay Banga will retire at the end of the year, leaving the card company in the hands of new CEO Michael Miebach.

Treasury sanctions crypto exchange Suex to thwart ransomware

While more legal measures await international cybercrime, the U.S. government is sending interim messages to ransomware gangs.

Airwallex raises $200M, targets US expansion

The Australian company's latest fundraising round was led by a U.S.-based venture firm, and it's setting its sights on U.S. expansion too.

Visa taps Shipt for delivery offer

Target-owned Shipt is one of three new partners that card behemoth Visa lined up in a bid to offer new customer benefits.

Payment industry racks up two more deals

The two latest deals continue to move the payments industry toward what is likely to be a record-breaking year in acquisitions.

Updated Sept. 20, 2021