The Latest
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Retrieved from New York Governor's Office.
New York releases draft BNPL rules
The state aims to set a national standard for regulating buy now, pay later lenders with its regulations issued Monday.
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Mastercard, Ericsson craft payment tools
The payments provider and telecom company are teaming up to offer more payments capabilities to businesses in the Middle East and Africa.
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CPI Card Group CFO exits
The card company’s chief financial officer headed for the exit this month ahead of an earnings report next week.
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Klarna pursues more banking customers
The company is targeting more long-term loan and debit card customers as an avenue for growth as it tries to curtail losses.
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Q&A
How to hire Uber without a phone
Payments processor Adyen and rideshare pioneer Uber are installing kiosks at airports and hotels for travelers without the app (or those with a dead phone).
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Visa to buy Prisma in Argentina
The card network company is buying the card processing and real-time payments assets as it expands its reach in South America.
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Remitly co-founder CEO exits
Matt Oppenheimer, who has been CEO of the remittance provider for nearly 15 years, will become the board’s chair, with former Santander executive Sebastian Gunningham becoming CEO.
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Toast courts fast-food restaurants
The company is entering the drive-thru business in a bid to attract more of the quick-service sector to its customer rolls.
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Senator spars with JPM’s Dimon
Sen. Elizabeth Warren says a bill she’s backing emulates a proposal by JPMorgan Chase CEO Jamie Dimon to let states determine their own card interest rate caps.
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Global Payments builds salesforce
The payments processor plans to hire hundreds of additional sales agents this year as it builds on its acquisition of Worldpay.
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Stripe’s Bridge wins OCC conditional approval
The nod for a national trust bank charter comes after digital-asset firms Circle, Ripple and Paxos received a similar green light.
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Sezzle adds phone service offer
The new plans will be available at cheaper rates for Sezzle subscribers, as the BNPL provider seeks to grow its subscription business.
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Affirm partnerships target growth
The company’s latest collaborations are aimed at branching out into more sectors of the economy, consultants and analysts say.
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How stablecoins are finding a foothold
The digital currency’s earliest use cases are focused mostly on cross-border payments and peer-to-peer remittances.
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Cash App debuts payment links
After PayPal debuted a similar feature last year, Cash App also wants to simplify payment requests for users.
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Q&A
Why virtual cards can be safer than plastic
Many companies are swapping plastic payment cards for virtual because they’re less prone to fraud, Boost Payments Chief Revenue Officer Seth Goodman said.
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Bill weighs the best path to profits
Business payments company Bill Holdings is mulling a sale, according to a media report, as recent B2B fintech deals show ample buyer interest.
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Cash App to sell its credit score
Block on Thursday opened up a waitlist for companies that want to access deeper insights from its Cash App consumer scoring.
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Judge backs Illinois law on card fees
A U.S. judge ruled that federal bank law doesn’t preempt an Illinois effort to ban card interchange fees on sales tax and tips. Bank groups vowed to appeal.
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JPMorgan, Nacha to share data via blockchain
The companies aim to simplify the account verification process for JPMorgan Chase customers.
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Merchants seek hearing on card pact
Large retailers opposing a swipe-fee settlement with Visa and Mastercard want a judge to hear oral arguments before he rules on the proposal.
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GAO details CFPB’s downsizing
The scope of the CFPB’s downsizing were explored in two reports released Monday, one of which concludes that the changes cost consumers $19 billion.
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Fiserv struggles with financial business
Revenue in the company’s financial services and banking sectors fell year-over-year, which executives attributed to market share loss among credit unions.
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EWA products aren’t loans: fintechs
Trade groups representing fintechs filed briefs urging a U.S. appeals court to reverse two district court rulings against earned wage access providers.
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Block to chop up to 10% of employees
The company is reducing its workforce to trim overhead costs and stay below a 12,000 employee cap, analysts said.