7 payments trends for 2022 as innovation climbs

From cross-border services to BNPL to cybersecurity tools, there will be no shortage of innovation and competition in the payments industry as businesses and their regulators shape new digital tools in the wake of the COVID-19 pandemic.

By Jonathan Berr , Caitlin Mullen , Lynne Marek • Jan. 4, 2022

Payments firms raised record sums in 2021

It was a banner year for payments startups in 2021, as they raked in nearly $32 billion in investments, according to research firm CB Insights. This year could be even hotter.

By Caitlin Mullen • Dec. 28, 2021

Community banks form payments network to compete with Zelle: report

Community bank innovation consortium Alloy Labs Alliance will manage the network in partnership with Payrailz, a digital payments company, Forbes reported. 

By Anna Hrushka • Dec. 20, 2021

Payhawk plans 2022 New York office opening

The Sofia-based company raised more than $130 million this year, arming it to take on U.S. rivals in providing business clients with payments management tools.

By Ted Jackson • Dec. 17, 2021

Corcentric to grow through SPAC

Payments technology company Corcentric aims to grow, including internationally, by way of a merger with a special purpose acquisition company that will raise capital and take the business public.

By Lynne Marek • Dec. 13, 2021

Will crypto wages catch on?

NFL star Odell Beckham and Miami Mayor Francis Suarez may grab headlines by taking salaries in bitcoin, but can companies pitching crypto pay services make inroads with average wage-earners?

By Ted Jackson • Dec. 8, 2021

For hourly workers, the paycheck is the enemy

The magnitude of financial precarity in America is staggering. This is why employers have a responsibility for the financial health of their workers.

By David Baga • Dec. 8, 2021

Facebook Messenger tests split payments

Meta's Facebook is testing a split payments feature in its messaging app for U.S. users, though it's not clear when there will be a broader release.

By Tatiana Walk-Morris • Dec. 7, 2021

Buy now-pay later orders rise 34% in holiday season, Afterpay says

The company also said user spending online rose 30%, with more Gen Z shoppers using the service between Black Friday and Cyber Monday.

By Tatiana Walk-Morris • Dec. 6, 2021

Will Stax acquisition of CardX mean more surcharging?

With the Stax acquisition of CardX last week, the combined company plans to scale its mission of bringing surcharging tools to more merchants.  

By Lynne Marek • Dec. 6, 2021

Square takes a new moniker: Block

No sooner does Jack Dorsey arrive full-time at Square than the company decides it needs a new name. The corporate parent will become Block, but keep the Square brand for its digital payments business.

By Lynne Marek • Dec. 1, 2021

Wise gears up for U.S. expansion

Wise plans to expand in North America next year, increasing its U.S. workforce by 150 employees, or more than 40 percent, including at a new office in Austin, the company said.

By Jonathan Berr • Dec. 1, 2021

PayPal offers Wix merchants BNPL options

PayPal began offering Wix merchants in the U.S. its buy now-pay later and credit services last month for the first time. Wix merchants in the United Kingdom and France will also have access to the services in "coming months," the companies said.

By Lynne Marek • Dec. 1, 2021

FIS may sell unit to Symphony Tech for $2B: Report

Mega payments processor FIS is in discussions about the possibility of selling part of its capital markets unit to investment firm Symphony Technology Group, according to a report from Bloomberg. The transaction could be valued at about $2 billion, the outlet reported, citing unnamed sources.

By Lynne Marek • Nov. 28, 2021

Mastercard buys payments processor Arcus FI, expanding in Latin America

Mastercard said the acquisition will allow it to "help support the delivery of bill pay solutions and other real-time payment applications across Latin America."

By Jonathan Berr • Nov. 24, 2021

Stripe CFO Suryadevara draws on challenges as GM CFO

Suryadevara has ventured into unfamiliar business terrain before, becoming GM treasurer with little prior knowledge of the role.

By Jim Tyson • Nov. 18, 2021

Amazon takes battle against Visa to UK

The move by the e-commerce behemoth Amazon to reject U.K. Visa cards is putting pressure on Visa to lower card transaction fees worldwide.

By Lynne Marek • Nov. 17, 2021

Podium raises $201 million, eyes expansion

After entering the payments business last year, the company says it’s on pace to process about $1 billion in transactions this year.

By Lynne Marek • Nov. 16, 2021

"The check is not dead," Deluxe CEO says

The long-time check printing company still relies on that business for a third of its business, but it's creating a host of other services, mainly for small and mid-sized companies, CEO Barry McCarthy says.

By Lynne Marek • Nov. 12, 2021

Affirm reports better outlook, sidesteps Peloton question

The BNPL payments company provided a brighter sales and revenue forecast for the fiscal year, but it skirted a question about the impact of a gloomier outlook at its long-time big customer Peloton.

By Lynne Marek • Nov. 11, 2021

Crypto creeps into the checkout line

Payments firms are betting on crypto's growth as an asset class to fuel crypto adoption at checkout.

By Suman Bhattacharyya • Nov. 10, 2021

Payments heads toward record venture funding year: CB Insights

Payments startups are sopping up what's likely to be a record amount of venture capital this year, as the industry collects money that's transforming the financial sphere.

By Lynne Marek • Nov. 5, 2021

Payments tech to draw $40B next year: Forrester

The research firm's 2022 outlook also anticipates IPOs for major payments players as well as increased use of digital wallets and QR codes.

By Tatiana Walk-Morris • Nov. 3, 2021

Early wage payments draw scrutiny

Companies that offer earned wage access, aka on-demand pay, have proliferated in the U.S. Now, legislators and regulators are targeting the industry for more oversight.

By Lynne Marek • Updated Nov. 4, 2021

BNPL needs Visa to scale, CEO argues

Visa CEO Al Kelly contends that the new entrant buy now-pay later providers will need the card company's network to scale the business, and Visa is partnering to make that happen.

By Lynne Marek • Oct. 27, 2021