The Latest
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Courtesy of CashApp - Square
Square integrates with digital signage provider Raydiant
New digital integrations could differentiate Block-owned Square within an increasingly competitive point-of-sale and fintech category.
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Courtesy of Sarmishta Ramesh
Whole Foods expands use of Amazon One paytech
After rolling out the bio-authentication and payment technology to a handful of stores earlier this year, the grocery chain will add it to 65 locations in California.
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Permission granted by Lynne Marek
Toast gets growth spurt in restaurant payments
The restaurant software management company placed its digital tools at another 6,000 locations in the second quarter, for the biggest quarterly jump in that figure.
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Auto dealers tap U.S. Bank for real-time payments
U.S. Bank is using The Clearing House’s real-time payments system to offer auto dealers the option for speedier delivery of loan funding.
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Drew Angerer via Getty Images
Green Dot battles Uber, loses contracts
Green Dot disclosed in its recent quarterly report that it’s in a dispute with ride-share company Uber over their agreements. It also noted its failure to renew contracts with several other customers.
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Flywire posts net loss despite customer wins
The payments software company posted a second-quarter loss despite client wins being higher than usual and revenue jumping more than 50 percent.
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BNPL faces headwinds from rising rates, inflation: Fitch
Higher interest rates may make it more expensive for buy now-pay later providers to offer financing while inflation may put off lower-income consumers.
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fizkes via Getty Images
Jack Henry & Associates buys Payrailz
Jack Henry management expects the Payrailz purchase to help its bank, credit union and other financial institution clients modernize their payments services.
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Payments buyout burst in August signals more M&A
A burst of acquisitions in the payments industry this month portend a jump in deal-making for the remainder of the year.
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Courtesy of Erica Zeidenberg
Paystand buys Yaydoo in Latin American push
Paystand’s purchase of the Mexico-based company was its first acquisition, and the company said it’s prepared to do more deals.
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Anna Moneymaker via Getty Images
ColumnLet the credit card battle begin
Banks that issue credit cards and the retailers who hate their fees are lining up allies on Capitol Hill to fight over a new bill that calls for more competition in the industry. Visa and Mastercard are at the center of the conflict.
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Consumer spending rises despite inflation: Mastercard
While card issuers are bracing for economic headwinds, consumer spending has continued to rise recently, including for apparel, jewelry and travel.
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Payments companies swap out CFOs
Amid macroeconomic pressures, FIS, PayPal, MoneyGram and Shift4 all appointed new CFOs this week. The trend may also mean they’re paying more for them.
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Courtesy of Megan Cheung
Visa, Mastercard react to Pornhub ruling
The two card companies took action against an advertising entity tangled up in a California lawsuit against the pornography website, which the plaintiff alleges illicitly posted images of her when she was a teenager.
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Drew Angerer via Getty Images
Block pulls back on expenses
The parent of Square is cutting $250 million in planned expenses for the year, after reporting another quarterly net loss on Thursday.
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Ilya S. Savenok / Stringer via Getty Images
Fiserv whittles workforce
The payments processor cut employees in the first half of the year and shouldered higher severance expenses, following a string of acquisitions in recent years.
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FIS extends tie with Chargebacks911 to fight fraud
The partnership is aimed at arming merchants with digital tools to reduce chargebacks, cut costs and combat fraud.
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The image by Achim Hepp is licensed under CC BY-SA 2.0
Gucci expands crypto payment options to ApeCoin, Euro Coin
More brands have entered the cryptocurrency and NFT markets despite signs of declining consumer interest.
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Courtesy of Amazon
FIS reduces 2022 outlook
The major payments processing company said higher interest rates, increased wages and foreign exchange rates were putting pressure on the business.
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Drew Angerer via Getty Images
PayPal takes new direction with Elliott
The payments pioneer is fine-tuning its strategy with Elliott Investment Management, which now has a $2 billion investment in the company.
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Amex rolls out B2B digital payment tool
American Express cited data showing nearly two-thirds of small and mid-sized business owners expect increases in their cross-border spending.
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Fizkes via Getty Images
B2B drives Q2 payments growth: Nacha
Healthcare and peer-to-peer payments also rose during the quarter over last year, the clearing house that runs the national automated system said.
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Joe Raedle via Getty Images
Will a swoon in valuations affect Block’s Afterpay?
Block acquired Afterpay for what was ultimately $13.9 billion in stock, but a string of fintechs writing down valuations in the face of economic pressures raises the possibility Block will be forced to do the same.
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Wex profits soar on rising fuel prices
Wex is benefiting from a jump in fuel prices, given its management of fleet credit cards, but its customers face more economic hurdles.
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Retrieved from Global Payments Spokesperson Matt Cochran on September 10, 2021
Global Payments buys Evo at a premium
Global Payments said it will pay $4 billion to buy Evo Payments as it sheds its Netspend consumer unit for $1 billion and takes a $1.5 billion investment from Silver Lake Partners.
