Technology


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    Payactiv jettisons some fees in wake of CFPB move

    The earned wage access provider said that it was eliminating some fees just as the federal agency decided to remove a prior order giving the company leeway under certain laws. 

    By July 5, 2022
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    Retrieved from Novi on May 27, 2020

    Meta to shutter Novi digital currency project Sept. 1

    The company’s website tells users how to withdraw funds and access transaction data that they’ll lose access to once the Novi pilot ends. Meta, however, said it plans to use Novi’s technology in future projects.

    By Dan Ennis • July 5, 2022
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    Trendline

    Payment fintechs persist despite economic upheaval

    Payment fintechs are being tested by macro-economic headwinds, from inflation to supply constraints, but many see this as an opportunity to prove they can grow despite the obstacles.

    By Payments Dive staff
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    Oracle adds restaurant payment acceptance

    By partnering with Dutch payments processor Adyen for the new service, Oracle aims to become a one-stop shop for restaurants, an industry analyst said.

    By July 1, 2022
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    The image by Ted Eytan is licensed under CC BY-SA 2.0

    CFPB terminates Payactiv's sandbox protection

    The earned wage access provider told the CFPB last week it wanted to make changes to its fee model without review by the bureau. The bureau, in turn, expressed concern over potentially misleading public statements by Payactiv.

    By Dan Ennis • July 1, 2022
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    Congress takes on 'bro culture' in fintech

    A congressional task force this week heard from fintech founders and venture capitalists about persistent inequities in funding for female- and minority-founded startups.

    By July 1, 2022
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    Retrieved from Outside spokesperson Daniel Gerardi on March 29, 2022
    Opinion

    From a payments CEO: 5 discriminatory behaviors that need to go

    “Until the industry addresses this blatant lack of advocacy for women in leadership, it will continue to foster a culture where women can’t thrive,” says Stax CEO Suneera Madhani.

    By Suneera Madhani • June 30, 2022
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    PayPal hit with Venmo fraud lawsuit

    Yet another lawsuit related to alleged fraud on a peer-to-peer payment app targets digital payments company PayPal.

    By June 30, 2022
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    Self-checkout terminal sales jump: report

    Cashless systems are growing in popularity, with the sale of self-checkout terminals expected to surge 50% to 300,000 annually by 2027, according to an industry research firm.

    By Tatiana Walk-Morris • June 29, 2022
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    Fintech Amount cuts about 18% of workforce

    The Chicago-based banking technology provider, valued at $1 billion last year, said this week it had pared 108 workers in what the company called “proactive adjustments.”

    By June 28, 2022
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    Wagestream jumps into US on-demand pay fray

    With $175 million in recently raised capital, the British new entrant in the U.S. earned wage access arena is setting lofty goals for expansion.

    By June 28, 2022
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    Brex's move has fellow fintechs ready to pounce

    Brex cutting small business customers — the handling of which prompted a mea culpa from the co-founder — may provide opportunity for B2B fintechs like Ramp or Divvy. But big banks still dominate the space. 

    By June 27, 2022
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    Courtesy of Bed Bath & Beyond

    Bed Bath & Beyond adds BNPL option

    The retailer said its buy now-pay later option, Welcome Pay, allows customers to pay for purchases in four payments.

    By Caroline Jansen • June 27, 2022
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    Business is global by default: Why haven't payments kept up?

    To compete internationally, businesses need a reliable method to make and receive real-time payments.

    June 27, 2022
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    Alviere sets sights on Europe, Latam expansion

    Embedded payments player Alviere has raised money from Silicon Valley Bank to support expansion in Europe and Latin America, following the hiring of a pack of new executives.

    By Tatiana Walk-Morris • June 24, 2022
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    PayPal changes up its pricing

    In a move that could increase or decrease charges for merchants, the company said it aims to better distinguish between personal and commercial payments on its system.

    By June 24, 2022
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    Alo Yoga accepts crypto payments, allows crypto paychecks

    The direct-to-consumer lifestyle brand is betting big on Web3 technology, although U.S. data suggest minimal usage of crypto for purchasing goods.

    By Dani James • June 22, 2022
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    Opinion

    Friendly fraud: How should fintechs view the risks?

    With friendly fraud, fintechs don’t always consider the whole picture when it comes to fraudulent disputes.

    By Sarah Mirsky-Terranova • June 21, 2022
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    Courtesy of Walmart

    Walmart, Roku partner to evolve shoppable streaming ads 'beyond the QR code'

    The mega-retailer is the exclusive partner on a new Roku feature that allows people to purchase products by clicking on ads with their remote.

    By Peter Adams • June 17, 2022
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    Tipalti spearheads digitization in middle market

    B2B fintech Tipalti aims to scoop up some additional businesses as startups struggle with a slowdown in equity funding.

    By June 16, 2022
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    CFPB urges standardization in BNPL credit reporting

    The agency isn’t pleased about the three big credit reporting bureaus taking different approaches to tracking consumer data for buy now-pay later financing.

    By Updated June 17, 2022
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    Samsung debuts a new digital wallet with crypto

    The new wallet will store IDs, cards and crypto, giving the South Korean company more leverage to compete with digital payment apps from tech giants Apple and Google.

    By Tatiana Walk-Morris • June 16, 2022
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    Startup Metropolis snags $167M to scale

    Metropolis Technologies, which uses computer vision and machine learning for parking payments, plans to use the funding to scale, aiming to hire 500 workers by the end of the year.

    By June 15, 2022
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    Courtesy of Grubhub

    Grubhub adds instant pay option for delivery drivers

    Food delivery company GrubHub will make an instant payout option available to its couriers, with an assist from PayPal and Visa, so drivers can deposit earnings to a debit card.

    By Alicia Kelso • June 15, 2022
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    Permission granted by PayPal Spokesman Joseph Gallo

    PayPal expands BNPL payment options

    PayPal is making a bigger move into buy now-pay later financing as competitors in that arena multiply. It will now offer a new monthly payment plan targeted at bigger purchases.

    By June 15, 2022
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    Payments startups still gaining value, for now

    Payments companies “led the pack in valuation increases” and had the biggest average increase in valuation, according to S&P Global Market Intelligence.

    By June 14, 2022