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April 20, 2022
On the wires
Nelo Enables Buy Now Pay Later For All Ecommerce Stores In Mexico
Prnewswire
“Nelo , a Buy Now Pay Later (BNPL) product in Mexico, announced that it has launched their all-in-one app. Nelo’s customers can now use Nelo at any online merchant, through a partnership with Mastercard. Nelo’s app is the first of its kind in the region, where customers can shop and pay in installments at their favorite stores like Mercado Libre, Amazon, and Liverpool. This is enabled through a virtual card that Nelo customers generate at checkout. It is now live for 100% of customers.”
April 7, 2022
On the web
There Was No Stopping Credit Card Fee Hikes This Year
Payments Dive
“What’s most striking about the increases in credit card “swipe” fee increases taking effect this month is the quietude with which they’re unfolding. Contrast that with last year when the mere suggestion of the interchange fee increases for merchants unleashed a firestorm of protest. Retailer and merchant trade groups issued a wave of press releases filled with outrage that their members might be forced to absorb the hikes just as their businesses were recovering from the pandemic.”
On the wires
Stripe Newsroom: Le Monde Chooses Stripe to Power Paid Subscriptions Globally
“Le Monde has chosen Stripe to support its digital subscriptions as it expands into new international markets. The French newspaper will begin publishing English-language articles and an international daily newsletter for its growing digital readership…Le Monde will use Stripe’s financial infrastructure to manage its global digital subscriptions through a single, frictionless payments platform. Subscribers in every market will be able to pay with their preferred local payment method and currency. Each transaction will also be protected by Stripe Radar , a machine-learning fraud detection solution fully integrated within Stripe’s platform.”
April 4, 2022
On the web
Marijuana Fintech Players Are Vying to Replace Cashless ATMs
Bloomberg
“Many companies would love to be the Venmo or PayPal of cannabis. But there’s a long way to go. Cash is still the go-to option in the U.S. since marijuana is federally illegal. Tepid progress toward legislation shows that is unlikely to change anytime soon. At the same time, the most popular payment alternative, so-called cashless ATMs, are problematic.”
Pot Dispensary ATMs Create A $7 Billion Loophole
Bloomberg
“Bloomberg News Reporter Tiffany Kary explains how banking and cannabis businesses are being misled by cashless ATM withdrawals.”
On the wires
Sustainable Fintech CarbonPay Launches Prepaid Business Payment Card: Helping Companies to Automatically Offset Their Carbon Footprint With Every Transaction
“CarbonPay , a sustainable fintech platform that offers the planet’s most impactful payment cards and makes everyday climate action simpler, today announced the launch of its corporate prepaid offering, CarbonPay Business Ctrl. With this launch, CarbonPay offers a prepaid card for businesses in the U.S. and U.K. that helps offset their carbon footprint automatically with every transaction; for every £1 / $1.50 spent,”
March 30, 2022
On the wires
Citizens Program Enables Corporate Clients to Offer Employees Early Access to Earned Wages
“Citizens today announced a solution that enables corporate clients to give employees on-demand access to their earned pay, along with financial health tools designed to help them feel more financially secure…The Citizens solution funds the earned wages and then is reimbursed by companies during the traditional payroll cycle, which means employers can use it at no additional cost and with no impact to their working capital. Earned Wage Access connects with nearly all major enterprise human resource information and payroll systems, creating a seamless process that can be up and running in as little as 30 days.”
March 29, 2022
On the web
Neo Clears $1 Billion Through Its Multi-Currency Accounts Within 14 Months of Launch | Treasury Management International
Treasury Management International
“Neo , the treasury management, payments, and FX fintech, today announced that it has cleared $1 billion through its multi-currency accounts, which went live in June 2020. The firm has made huge strides in the past year and now has over 200 corporate clients across Europe sending and receiving payments every day. Furthermore, over 3,000 banks across the globe are connected to its Bank Identification Code (BIC) on the SWIFT network.”
On the wires
Papaya Global to Acquire Digital Cross-Border Payments Service Azimo, Making Payments Instant and Unbound by Geography
“Papaya Global , the global people management platform for the remote working era, announced today that it has agreed to acquire Azimo , the global digital cross-border payments service, making it possible to pay employees almost instantly regardless of geography and typical payroll limitations. The acquisition of Azimo will significantly expand Papaya’s capabilities in payroll payments and strengthen its promise to help companies smoothly manage their remote workforce from onboarding to payments.”
March 25, 2022
On the wires
Sightline Selects J.P. Morgan Payments As Primary Processor for Play+
“Sightline Payments announced it selected J.P. Morgan Payments as the primary merchant acquirer and payments processor for Sightline’s Play+® ecosystem, which enables consumers to spend their funds with more than 80 partners in over 40 states across the sports betting, lottery, racing, and online and brick-and-mortar casino markets.”
March 24, 2022
On the wires
Recurly Recovers Nearly $800 Million in Revenue for Customers in 2021
“Recurly, Inc. , a leading subscription management and billing platform for high-growth, digital brands, announced it recovered over $794 million in revenue for its customers in 2021 through industry leading dunning technology.”
March 10, 2022
On the web
Pinterest Expands Shopping Features With In-app Checkout | Engadget
Engadget
“Pinterest is moving deeper into e-commerce with some more features it announced at its annual advertiser summit. The platform says users have long been asking for a way to shop directly on Pinterest and you can now complete some purchases without leaving the app. The in-app checkout feature is currently in beta for some Shopify sellers in the US. Pinterest plans to expand access in the US this year. It will contact folks who run stores through Shopify with more details soon.”
March 9, 2022
On the web
Twitter Expands E-commerce Efforts With Launch of Mobile Storefronts, Twitter Shops
TechCrunch
“Twitter today is introducing a new shopping feature called Twitter Shops, which will allow merchants to curate a collection of up to 50 products to showcase on their Twitter profile. The mobile-first feature, which is free to use, aims to encourage users to go from talking about products on Twitter’s platform to actually clicking through to browse the merchant’s selection, then check out.”
March 8, 2022
On the web
Consumer Credit Grows in January at Slowest Pace in a Year
MarketWatch
“The amount of credit consumers used in January grew by a scant $6.8 billion — the smallest increase in a year — signaling that households sharply reduced borrowing early in 2022…The big slowdown in credit stems from a variety of factors: Record coronavirus cases, rising prices, high inflation, limited availability of new cars and households taking a breather after spending big during the holiday season.”
March 3, 2022
On the web
TurboTax Maker Intuit Faces Tens of Millions in Fees in a Groundbreaking Legal Battle Over Consumer Fraud
ProPublica
“Faced with a class-action suit filed on behalf of customers who claim they were tricked into paying to file their taxes, TurboTax-maker Intuit knocked the case down. The company insisted its customers had agreed to forego their right to take their grievances to court and were required to use the private arbitration system instead. But even as Intuit was winning in the class-action case, that very arbitration system was being weaponized against the Silicon Valley company.”
February 24, 2022
On the web
FlexWage Wins Favorable California Ruling
Payments Dive
“On-demand pay company FlexWage Solutions logged a regulatory win this month when a California regulator ruled it isn’t required to have certain licenses to offer its early access to pay services in the state. FlexWage said in a press release Wednesday that it’s the only operator in the field that has received such a legal opinion from California’s Department of Financial Protection and Innovation. The Scottsdale, Arizona-based company requested the ruling last year.”
On the wires
PNC Treasury Management Launches Innovative On-Demand Pay Solution Powered by DailyPay
“PNC Treasury Management today announced a groundbreaking new on-demand pay solution, PNC EarnedIt. Powered by DailyPay Marketplace, PNC EarnedIt offers pay on-demand – a highly sought-after employee-benefit – to its clients allowing them to provide their employees access to earned pay – throughout any point in the pay cycle – prior to payday.”
February 23, 2022
On the wires
Turning Groceries Into Getaways: Instacart Customers Can Now Earn Delta SkyMiles With Every Order
“Starting February 18, we’re teaming up with Delta Air Lines to give customers more ways to earn miles when they link their SkyMiles and Instacart accounts , with special earning bonuses for Instacart Express members. Once linked, members will earn 1 mile for $1* spent with Instacart, and Instacart Express members will earn 1.5 miles for $1* spent. Plus, Delta customers will have special access to extended complimentary trials of up to 12 months of Instacart Express.”
February 22, 2022
On the wires
Paysafe Launches Multi-State IGaming Payments Partnership With Bally’s
“Paysafe (NYSE: PSFE), a leading specialized payments platform, today announced a new partnership with Bally’s Corporation (NYSE: BALY), a global casino entertainment company with a growing omni-channel presence of online sports betting and iGaming offerings. Paysafe has launched the partnership by streamlining player deposits for both the new Bally Bet online sportsbook for Arizona and the BallyCasino.com brand for New Jersey.”
February 8, 2022
On the wires
Deluxe Announces Integration With Q2 Holdings’ Digital Banking Platform
“Deluxe (NYSE:DLX), a Trusted Payments and Business Technology™ company, today announced its integration with Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for banking and lending. Through this integration, Deluxe will offer HR & Payroll Solutions within Q2’s Partner Marketplace Program, enabling financial institutions to seamlessly provide these solutions to their clients, while generating recurring revenue and increasing customer retention.”
February 7, 2022
On the wires
Lightspeed Announces Direct Selling and Advertising on TikTok Via Ecwid
“Lightspeed Commerce Inc. (NYSE: LSPD ) (TSX: LSPD), the one-stop commerce platform for merchants around the world to simplify, scale, and create exceptional customer experiences, today announced that Lightspeed eCommerce merchants using the recently acquired Ecwid integration can sell to consumers directly through TikTok.”
February 3, 2022
On the web
U.S. Has More Credit Cards Than Ever as Issuance Surged in 2021
Bloomberg
“U.S. lenders issued more credit cards than ever last year, with a growing share of them going to consumers with lower credit scores. A record 196 million Americans held cards at the end of 2021, according to a report by credit-data agency TransUnion. In the third quarter, the latest for which detailed numbers are available, the number of new cards issued hit an all-time high of 20.1 million, it said. Some 9 million of them went to so-called non-prime borrowers — those with poor or fair credit.”
January 31, 2022
On the wires
Capital One and Trovata Partnering to Automate Cash Management for Corporate Clients
“Trovata , the leading fintech in automating cash workflows through multi-bank API data aggregation for corporate finance and treasury teams, announced today a distribution agreement with Capital One. In connection with the partnership, Capital One will market and refer Trovata’s cash management platform to new and existing commercial and corporate banking clients. With Trovata’s next-gen platform, Capital One will provide an entirely new cash management experience for its commercial clients, with better visibility and insights into multi-bank account balances and historical cash flows, along with powerful projections that help automate cash forecasting.”
January 27, 2022
On the wires
Mollie Partners With Chargebee to Deliver Effortless Subscription Payments
“Mollie , one of the fastest growing payment service providers in Europe, today announced its partnership with subscription management platform Chargebee to help drive growth for its customers. The integration with Chargebee simplifies subscription billing for merchants, providing an easy-to-install, out-of-the-box subscription management platform that offers all leading European payment methods, including iDEAL, SEPA Direct Debit, and credit cards.”
January 26, 2022
On the web
Experian to Allow Consumers to Create Their Own Credit Reports
Wall Street Journal
“Consumers will soon be able to create their own credit reports. Experian PLC, one of the largest credit-reporting firms in the U.S., this week will start allowing consumers who don’t have credit reports to create them from scratch, the company told The Wall Street Journal.”
On the wires
Paysafe Strengthens iGaming Market Leadership With New York Entry
“Through its payment gateway , Paysafe is now processing online deposits and payouts for New York players with mobile sports-betting brands in the new market, which is expected to reach $1bn in annual revenue, according to Macquarie. The software of Income Access , Paysafe’s marketing technology and services provider, is also already powering several brands’ New York-focused affiliate programs.”
January 24, 2022
On the wires
Expensify Releases First-Ever Corporate Card for CPAs and Accounting Firms
“Expensify, Inc. (Nasdaq: EXFY), a payments superapp that helps individuals and businesses around the world simplify the way they manage money across expenses, corporate cards, and bills, today announced the launch of the Expensify CPA Card . The accountant-friendly card enables client setup in minutes and provides a high monthly revolving credit limit with no credit check or personal guarantees required.”
January 20, 2022
On the web
MPC Letter Highlights Amazon Action on Visa Credit Cards in UK – Merchants Payments Coalition
Merchants Payments Coalition
“U.S. merchants large and small are closely watching the Amazon-Visa developments in the UK and hope that U.S. policymakers are doing the same. Few, however, have the size and resources of Amazon that are required to stand up to an entity as powerful as Visa. In fact, retail is an industry of small businesses, with 98 percent of retail companies having fewer than 50 employees and 95 percent having only one location, according to the National Retail Federation. The Small Business Administration says retail is the third-largest small business sector.”
January 14, 2022
On the wires
Waystar Accelerates Patient Consumerism in Healthcare Payments
“Waystar’s patient financial experience solutions, including the industry-leading PatientWallet®, drives patients’ digital adoption of the payment process with personalized omnichannel engagements. Waystar orchestrates patient payment journeys at scale by annually generating $4B in out-of-pocket estimates, processing $5B in patient payments and actively managing 30M+ patient digital wallet accounts with more than $1B in patient payment plans. Providers across all healthcare settings use the Waystar platform to simplify payment complexity, representing 40% of the U.S. patient population and 500,000 providers.”
January 11, 2022
On the wires
Carrefour Expands Branded Gift Card Partnership With Blackhawk Network Across Its Territories
“Blackhawk Network , a global leader in branded payments, today announces its new collaboration with Carrefour Group to manage its branded third-party gift card programme across France, Belgium, Poland, Italy, Spain, Romania, Argentina and Brazil. Carrefour, a global leading grocery retailer, will be expanding its branded gift card distribution across the globe, embracing the expansion of gaming and online shopping.”
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