The Latest
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Cash App pursues older, affluent customers
The Block business is seeking older, higher-income users as it pursues diversified growth, CEO Jack Dorsey said.
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Citizens Bank to pay $9M to settle disputed-charge suit
The CFPB said the bank, in 2015, improperly denied customer reports of fraud and unauthorized use and, in some cases, failed to fully reimburse users.
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Opinion
Give EWA a chance
“It is unclear why critics want to place EWA in the credit silo and call for heavy-handed regulations to restrict access to EWA products,” argues the CEO of the Innovative Payments Association.
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Credit popularity doesn’t displace cash: Fed report
Credit cards were the most used payment method last year in the U.S., but cash demand remains stable, a Fed report showed.
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Venmo to launch teen account
The move is part of PayPal’s plan to lean on Venmo to lure more users.
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Legislators spar over stablecoin proposals
Lawmakers agree stablecoin legislation is needed to ensure the U.S. establishes itself as a leader in the space.
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NY Fed teams with Singapore on CBDC study
The two central banks tested digital ledger technology for payments across multiple currencies in less than 30 seconds.
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Fed official stresses importance of dollar’s standing
“For the dollar to maintain its status, it is important for U.S. elected officials and other policymakers to make decisions that instill confidence in our economy and institutions,” a New York Fed official said Thursday.
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Bill Holdings discloses ‘material weakness’
Despite that finding, the company noted an independent auditor’s evaluation of the company’s 2022 financial statements “remains unchanged.”
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Worldpay spin-off hands FIS mixed bag
The payments processing and technology company will keep a stake in the Worldpay unit, but take on higher-interest-rate debt.
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ACI boots chief technology officer
ACI Worldwide has fired its chief technology officer just as it’s gearing up for the FedNow real-time payments system.
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PayPal considers Xoom sale: report
The digital payments company is considering a sale of its Xoom cross-border business, The Information reported, citing an unnamed source.
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Retrieved from Global Payments Spokesperson Matt Cochran on September 10, 2021
Global Payments execs hint at B2B acquisition
Global Payments isn’t looking for more acquisitions — except in the B2B space, its outgoing CEO said.
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Square adds franchise platform
Block-owned Square said the tool lets restaurant franchisors monitor multiple units on one dashboard.
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Card debt weighs on consumers
First-quarter credit card balances jumped 17% over the same period last year, according to New York Fed data.
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PayPal urged to accelerate CEO search
The digital payments pioneer faces pressure from investors to name CEO Dan Schulman’s successor sooner rather than later.
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Catch chases in-store opportunity
Currently focused on e-commerce, Catch seeks to bring its ACH payment option into stores.
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Opinion
How to advance cross-border B2B payments
“Regional regulatory bodies must work together on common financial standards that support multilateral payment systems if we are to make progress,” writes one payments professional.
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Revolut CFO leaves digital bank for ‘personal reasons’
The company’s finance head is the latest to depart the troubled fintech as it fends off regulatory and financial concerns.
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Discover pursues ESG goals
The card company this week issued a new report on the environmental, social and corporate governance aspects of its business and its aspirations.
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Paysend charges into US market
From a new U.S. headquarters in Miami, the British cross-border payments company is pitching services to U.S. businesses and consumers.
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Convenience chain adds Amazon palm pay
Energy Mart is the second convenience store chain to install the palm-scanning technology that’s also being used in sports arenas and Amazon’s own brick-and-mortar retail locations.
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Everee takes on EWA providers
The payroll provider is angling to disrupt the earned wage access companies that have been making it easier for employers to offer workers on-demand pay.
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Affirm, FICO to create BNPL credit-scoring model
The “first-of-its-kind” model will enable buy now, pay later loans to be factored into lending decisions, Affirm’s CEO said.
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Marqeta to cut workforce by 15%
The card-issuing fintech plans to dismiss about 150 employees in an effort to become profitable. It aims to reduce annual costs by as much as $45 million.