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Fiserv discloses 7% drop in workforce
As the company cut 3,000 employees, Fiserv’s employee termination costs nearly doubled to $187 million in 2022.
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Square raises prices
The price increases come as Block’s merchant business faces stiffer competition in the point-of-sale software market.
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Mastercard embraces nationalism
The card company isn’t shying away from countries in which the governments are taking a more insular approach to building their payments systems.
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Shift4 adds PayPal’s checkout tools
Shift4 will promote the digital payments giant’s checkout capabilities to merchants and receive a share of revenue for any PayPal checkout.
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CFPB’s fate at stake in Supreme Court case
The high court’s decision could set a precedent for future actions, challenging everything the CFPB has done, said Scott Pearson, a partner in Manatt's consumer financial services practice.
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Klarna’s growth comes at a cost
The buy now, pay later pioneer kept up growth despite employee cuts last year. The credit loss rate edged up too.
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Retrieved from Kaitlyn Fitzgerald, a spokesperson for Charlie Youakim on January 24, 2022
Sezzle ekes out a profit
The buy now, pay later company has cut costs by winding down operations in some markets, renegotiating prices with merchants and tightening underwriting.
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Battle over expected Durbin bill ensues
A credit union trade group railed against expected credit card processing legislation aimed at Visa and Mastercard before a bill has even been introduced in Congress this year.
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Transparency key to crypto’s next phase: Circle CFO
USDC issuer Circle is moving to become a public company, its CFO said, even as regulatory attention on the space sharpens.
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Remitly to shutter digital banking platform Passbook
The Seattle-based remittance fintech launched Passbook in 2020. The product, however, hasn’t garnered significant overlap with existing customers, Remitly CEO Matt Oppenheimer said.
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Paymentus bets on office return boost
New business bookings and onboarding of signed clients have both picked up steam as workers return to offices, said Paymentus CEO Dushyant Sharma.
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Block boosts Ahuja’s responsibilities
Pledging to be more efficient with a revamp of the company’s leadership structure, Block has combined the CFO and COO roles under Amrita Ahuja.
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Green Dot juggles customer changes
The banking-as-a-service company posted profits in the final quarter of last year even as it recovered from the loss of clients.
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GoDaddy launches payable domain service
GoDaddy now offers its business owner clients a digital payment tool that is customizable to their company branding.
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FedNow aims to avoid Zelle-type fraud
As the Federal Reserve prepares for a mid-year launch of its instant payments system, FedNow, it’s zeroing in on anti-fraud tools to protect users.
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Discover debit reboot gets marketing assist
The card company is betting its soon-to-be relaunched debit account services will help it better compete with fintech and neobank rivals.
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Square chases bigger merchants
Block-owned Square made its name catering to owners of small businesses, but the company is now setting its sights on bigger clients for growth.
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Same-day, B2B payments fuel ACH growth
Last year’s same-day ACH limit increase helped nearly double that category’s total payment compared to 2021, Nacha said.
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Klarna touts US as largest market
The Swedish buy now, pay later provider aims to keep growing in the U.S. with new services despite the intense competition.
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The image by Ted Eytan is licensed under CC BY-SA 2.0
CFPB warns card issuers on credit reports
The Consumer Financial Protection Bureau has threatened action over card issuers not reporting full consumer payment data for tracking credit histories.
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Discover launches tech website
The card company joined the Linux Foundation and Fintech Open Source Foundation as part of a broader investment into its developer ecosphere.
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Credit card debt surpasses pre-pandemic levels: Fed
Despite a pause in payments required for federal student loans, younger borrowers particularly are showing higher credit card delinquencies.
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Branch draws Uber, others into fold
After landing Uber as a client, the worker payment services company has recently attracted other logistics and delivery clients with help from that big name.
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Discover to implement gun code in April: report
The newly published code will be part of Discover’s policy and product update for merchants and payment partners in April, a spokesperson told Reuters.
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Visa CFO to exit
Vasant Prabhu, the company’s chief financial officer since 2015, will leave Visa in September, the company said Thursday.
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