CEOs Sound Off: Confronting a lack of diversity in payments

Payments CEOs recognize the need to draw more women and people of color into the industry, and the need to promote them. To effect change, these CEOs are changing job descriptions, casting a wider net in recruiting and showcasing how they're different.

By Lynne Marek • March 31, 2022

OnPay Solutions acquired by Medius

The acquisition of Jacksonville-based OnPay Solutions is the latest in a string of business-to-business deals over the past year. For Medius, it provides entry into the U.S. market following other recent expansion moves.

By Tatiana Walk-Morris • March 29, 2022

PayPal's Happy Returns to add service in Ulta stores

PayPal's Happy Returns services will now be available at the beauty products store chain. PayPal has integrated its returns services into multiple retailers’ brick-and-mortar locations over the past few years.

By Tatiana Walk-Morris • March 28, 2022

Sightline taps JPMorgan Chase for gaming expansion

Sightline is hiring the big bank after raising significant equity capital last year. Payments processors have unveiled new services as online gambling has increased over the past few years.

By Tatiana Walk-Morris • March 25, 2022

Ramp raises $750M to fuel growth

New York-based corporate spend management platform Ramp said today it's raised $200 million in equity and $550 million in debt financing, bringing its valuation to $8.1 billion.

By Caitlin Mullen • March 21, 2022

Moving big money is about to get faster

In the next few weeks, the two U.S. automated payments systems are set to increase the speed with which $1 million can be sent between two parties.

By Lynne Marek • March 16, 2022

Shift4 to buy 2 companies for $579M

The Allentown, Pennsylvania-based payments provider said it has agreed to acquire the cross-border player Finaro and cryptocurrency donations firm The Giving Block in a bid to expand its global reach.

By Caitlin Mullen • March 2, 2022

Decline of cash spotlights swipe fees

"At a time when the economy is still building back from the pandemic, these rising fees desperately need to be brought under control, and the rapid move toward an all-electronic economy with little cash makes the need to do so all the more urgent," writes National Retail Federation Vice President Leon Buck.

By Leon Buck • Feb. 16, 2022

FIS acquires fintech Payrix

Payments giant Fidelity National Information Services (FIS) has acquired fintech Payrix to bolster its embedded payments offerings in the e-commerce space for small and medium-sized businesses. On Tuesday, FIS President Stephanie Ferris called it a "small but really highly strategic acquisition."

By Caitlin Mullen • Feb. 15, 2022

ACI creates BNPL gateway for merchants

As consumers flock to buy now-pay later options, ACI Worldwide is launching a global BNPL interface for merchants the company says will be a single gateway to multiple installment lenders.

By Caitlin Mullen • Feb. 15, 2022

Payments confronts fundraising slowdown

“There was a lot of exuberance around valuations of young, fast-growing payments companies, and that exuberance hasn’t gone away completely, but it’s begun to wane,” said Zach Sadek, partner with Parthenon Capital, a private equity firm in Boston.

By Caitlin Mullen • Feb. 14, 2022

Global Payments puts Netspend on sales block

The Atlanta payments processor aims to offload its Netspend consumer debit card business so it can focus more exclusively on B2B operations. "We intend to retain its B2B assets as we further expand this new pillar of our strategy," the company's CEO said.

By Lynne Marek • Feb. 11, 2022

FIS joins forces with Singapore's Crypto.com

As interest in cryptocurrencies persists, despite wild fluctuations in prices, one of the largest U.S. payments processors is delving deeper into crypto with this new pact.

By Jonathan Berr • Feb. 9, 2022

Mastercard teams with fintechs on small business card

Mastercard is teaming up with two San Francisco fintechs, Highnote and Flowcast, to create a new credit card for small businesses. They're jumping into a field where high-growth fintechs like Brex and Ramp are already gaining traction.

By Caitlin Mullen • Feb. 9, 2022

UnionPay expands pact with Fiserv

Fiserv tapped UnionPay to expand services internationally, allowing the Shanghai-based card company to reach more consumers and merchants. "We have several notable international wins in the quarter, including an expanded partnership with UnionPay International," said Fiserv CFO Bob Hau during the company's Tuesday earnings call.

By Lynne Marek • Feb. 8, 2022

Nacha payments value jumped to $72.6 trillion last year

Electronic payments racing through the Nacha network increased for the seventh consecutive year in 2021, with the value of the payments jumping 17.4% and the volume rising 8.7% over 2020, the organization said.

By Lynne Marek • Feb. 4, 2022

CFOs slow to upgrade cash tracking despite pandemic: Forrester

More than half of companies surveyed by Forrester Research struggle to upgrade payment processes to meet users’ needs. Seven out of 10 financial executives say their cash flow systems provide only partial insight into their companies’ financial position.

By Jim Tyson • Jan. 31, 2022

Stripe strikes deal with Spotify

The private payments company – one of the most valuable fintech startups in the U.S. – has teamed up with music streaming pioneer Spotify to enable podcasters to accept payments. It's the latest in a string of new partnerships.

By Caitlin Mullen • Jan. 26, 2022

San Francisco startups vie for checkout dominance

In the crowded checkout technology space, startups Bolt and Fast are competing to become the company known for making the process smoother and speedier.

By Caitlin Mullen • Jan. 25, 2022

CFPB weighs in on earned wage access

The federal agency hinted this week that it will scrutinize earned wage access services and their fees to determine whether they're subject to lending laws. It also suggested it may revisit Trump-era policies regarding such businesses.

By Lynne Marek • Jan. 20, 2022

Payments pros demand top dollar in talent war

It’s become a “candidates’ market” with companies desperate to hire or retain payments executives and offering up to 30% premiums to lure professionals in short supply.

By Lynne Marek • Jan. 20, 2022

B2B payments can be a pain. Here's why 2022 might be the year that changes.

The COVID-19 pandemic pushed the fast-forward button on payments innovation in the B2B space, and a crop of new technologies are set to make these payments faster and easier.

By Caitlin Mullen • Jan. 18, 2022

Payments firms see slam dunk opportunity with sports venues

Digital payments players are charging into the sports and events space, bringing new technologies to arenas they say can improve the fan experience and unlock a trove of data.

By Caitlin Mullen • Jan. 10, 2022

The potential payments peril of punishing Russia

The international community is weighing kicking Russia out of the Swift global payments network as a sanction for the country's aggression in Ukraine, but it could backfire.

By Jonathan Berr • Jan. 6, 2022

Payments deals pile up in 2021

More than $50 billion in acquisitions were announced last year by companies in the payments arena. That wasn't a record, but it still ranked among one of the industry's busiest years for deal-making.

By Lynne Marek • Jan. 5, 2022