Klarna whittled workforce via AI ahead of IPO

The Swedish buy now, pay later juggernaut cut its headcount in each of the past two years, and expects to keep shrinking it.

Klarna to displace Affirm as Walmart BNPL provider

The Swedish buy now, pay later business partnered with a Walmart-backed fintech to offer loans at the retail giant via a digital payments app.

Block takes on payday lenders with Cash App

The company says new consumer loans to be made by its Square bank through the digital wallet are a less expensive alternative to predatory short-term financing.

Retail, crypto groups converge to back stablecoin legislation

The Merchants Payments Coalition and the Payment Choice Coalition locked arms to advance stablecoins as the Senate Banking Committee passed a stablecoin bill.

Payments firm ‘for sale’ signs pop up as buying interest swells

Payments players, including Green Dot and Flywire, have potentially put their businesses up for sale and larger companies have shown their appetite for acquisitions as an uncertain economy increases financial pressures.

Digital payments to exceed $33.5 trillion by 2030: report

Consumers are predicted to rely less on debit and credit cards and turn more to mobile wallets in the coming years, a Worldpay report predicts.

Discover Financial alum takes Wells Fargo IT role

A former executive for the card company, Heather Blair, joined the bank’s IT team Monday. She’ll take the CIO post for its branch and ATM division.

Gen Zers expect more of B2B payments

“For Gen Z, payments go beyond speed — they reflect values, transparency, and purpose,” writes one accounts receivable software CEO.

Stablecoin company Mesh raises $82M

Some of the funding was settled using PayPal’s stablecoin and will be used to build a global platform to transfer stablecoins, the company said.

Citi pursues partnerships to elevate its pay-over-time tool

The bank doesn’t need partnerships for its credit card customers to access the financing service, but tie-ups offer customer convenience and visibility, said Citi’s Jeff Chwast.

Pathward CEO: Regulatory scrutiny of BaaS ‘just getting started’

Regulators will keep BaaS under the microscope, continuing to put pressure on the fintech play, said Brett Pharr, the bank’s CEO.

How PayPal is bolstering its branded business

The payments pioneer is counting on merchant tech upgrades, its buy now, pay later offering and Venmo to re-energize its flagship business, a top executive said this week.

Fiserv CEO transition took only 10 days, CFO says

CEO Frank Bisignano quickly deemed his successor, Mike Lyons, ready to lead the payment processor, but don’t expect any strategy shifts, Fiserv’s CFO said.

Green Dot considers sale as CEO exits

The embedded finance company, which posted a loss last year, hired Citigroup to explore its strategic options and named an interim CEO.

Intuit rolls out phone tap, recurring payments

The financial software company says it’s focused on devising new methods for small business owners to be paid faster.

Amex to buy expense manager Center to bolster offerings

The deal will allow the banking and card network behemoth to expand its expense management and accounting functions for business travel.

Papaya Global adds Citi as partner

The payroll and payments services provider that has been working with JPMorgan Chase now calls Citibank a sponsor as well.

Digital asset use could buttress financial inclusion

While digital ledger technology could be used to reach unbanked or underbanked consumers, widespread adoption faces obstacles, a new report suggests.

Killing the CFPB would create a vacuum, former insider says

Payment players and large banks might enjoy lighter regulation if the agency disappears, but should be careful what they wish for, a former CFPB executive says.

Sezzle pitches coupon feature to consumers and merchants

The discounting function will allow merchants to increase their products' exposure, the company says.

Updated March 7, 2025

Fiserv investors count on next CEO’s well-rounded resume

The payment processor’s CEO designate, Mike Lyons, has won over analysts and investors with his experience at bank clients and payment peers. He’s expected to take over from Frank Bisignano later this year.

Senate votes to overturn CFPB big tech rule

The Senate backed a resolution to overturn a Consumer Financial Protection Bureau rule that gave the agency oversight of big tech companies offering payment tools.

Online retailer Stitch Fix expands BNPL options

Stitch Fix is one of many retailers increasing buy now, pay later options. It added Affirm this week to a roster that also includes Klarna and Afterpay.

Banks say court’s ‘novel’ ruling upends wire transfer business

The banking industry wants a federal appeals court review in New York’s case against Citibank, arguing that a judge has injected uncertainty into the wire transfer market.

CFPB drops fraud suit against Zelle’s operator, big banks

The 2024 lawsuit alleging rampant fraud on the peer-to-peer payments service is the latest action the CFPB has dismissed under the Trump administration.