Bill taps PayPal veteran as CFO

Rohini Jain is set to become Bill’s finance chief in July, replacing John Rettig who will assume the role of president and chief operating officer.

MoneyGram CEO targets digital remake

Anthony Soohoo is tackling a digital transformation of the legacy cross-border payments company, leaning on experience at Walmart and Apple.

Why BNPL appeals to salons

The buy now, pay later option attracts more customers and leads to bigger spending, asserts a payments software executive.

Shift4 CEO likely to keep post

Jared Isaacman was dropped by the Trump administration as a nominee to head NASA, and analysts expect he will remain at the payments processor.

Airlines decry proposed card amendment

Airline and aviation industry stakeholders argue the Marshall-Durbin amendment to the GENIUS Act bill would harm consumers and workers by undercutting credit card revenue.

CFPB seeks to end open banking case

The Consumer Financial Protection Bureau and its former court foes are now in agreement: an open banking rule shouldn't be considered lawful.

Illinois delays interchange law

Over the weekend, the state’s legislature voted to delay implementation of a law that would ban card interchange fees on tips and taxes.

Baltimore drops lawsuit over CFPB’s move to return funds

Bureau leadership found there was no mechanism to transfer money the Federal Reserve had given the agency. Consumer advocates warned they could sue again if the CFPB tries again to defund itself.

Conduit, Palla raise cross-border capital

The startups, which both offer cross-border payments, each closed on major capital-raising efforts this week.

Pushpay targets church payment niche

The company caters to churches and other nonprofits, smoothing the channels to take in donations in various forms, including cryptocurrencies.

Maryland passes EWA law

The state’s governor allowed an earned wage access bill to become law, over the objections of some consumer groups, including AARP.

Remittance tax draws fintech pushback

The budget bill proposal moving through Congress would levy a tax on cross-border money transfers. That has prompted “strong concern” from one fintech organization.

PayPal’s venture arm taps new leader

The digital payments company has promoted Ian Cox Moya, who rejoined the company in 2022, to head the unit that invests in startups.

Global Payments to sell payroll unit for $1.1B

The payments processor agreed to sell the division to software company Acrisure as it focuses on selling merchant services.

Fintech groups oppose state BNPL rules

Lobbying organizations argue that New York's rules treat buy now, pay later purchases too much like credit card transactions.

Credit card cap amendment stokes opposition

Industry trade groups for financial institutions have united to rail against legislation that could cap credit card interest rates.

CFPB to yank ‘unlawful’ open banking rule

That move bends to bank groups that filed a lawsuit last year to block the Consumer Financial Protection Bureau rule aimed at making it easier for consumers to move their financial accounts.

Fiserv reaffirms Clover revenue goal

The company’s chief financial officer contended the point-of-sale unit will still deliver $3.5 billion in revenue this year despite a recent volume growth slowdown.  

Executive Shuffle: Fiserv, Temenos, Medius

Recent executive appointments demonstrate the importance software and financial services firms are placing on product strategy.

Clair, Alternative Payments raise capital

The two B2B payments industry startups each raised just over $20 million in the past month despite a “challenging” economic climate.

Durbin, Marshall push credit card amendment

Sens. Roger Marshall and Dick Durbin aim to add their Credit Card Competition Act legislation to the GENIUS stablecoin bill advancing in Congress.

Cash use declines as cards rise: Atlanta Fed

Consumers keep using cash, but credit cards are king, the Federal Reserve Bank of Atlanta documented in its annual payment method survey. 

Circle K launches fleet payment mobile app

The program, developed alongside Car IQ, is designed to help drivers avoid credit card skimmers at the pump.

FIS quizzed on profit margins

The company’s chief financial officer was in the hot seat last week, explaining at an investor conference how he’ll bolster the bottom line.

Klarna touts merchant growth

The buy now, pay later provider surpassed 100 million users globally this year, but also reported widening consumer credit losses for the first quarter.