Block 'just getting started' with Afterpay

San Francisco-based Block is focused on expanding buy now-pay later provider Afterpay’s customer base and managing its loss rate, Block executives said during Thursday’s first-quarter earnings call.

By Caitlin Mullen • May 6, 2022

Clover revenue growth boosts Fiserv earnings

During a Wednesday presentation on first quarter earnings, Brookfield, Wisconsin-based payments company Fiserv said global revenue for its Clover operating system for small and medium-sized businesses grew 39%.

By Caitlin Mullen • April 28, 2022

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Payments players eye digital B2B opportunity

Companies offering digital payments services envision billions of dollars in U.S. business payments flow ripe for transitioning to the electronic realm.

By Payments Dive staff

NovoPayment lands $19M, spearheads US growth

Miami-based NovoPayment, the banking-as-a-service provider of digital payments and other services, is collecting capital for an expansion move in the U.S., just as its key business territory in Latin America is heating up as a destination for international fintech expansion. 

By Lynne Marek • April 20, 2022

Stem raises $20M to streamline music industry payments

Startup Stem Disintermedia, which aims to bring its financial payout tools to a broader sector of the music industry, lured investments from merchant payments player Block and the major fintech venture firm QED Investors to fuel its growth.

By Caitlin Mullen • April 19, 2022

Payments players caught in venture capital squeeze

The flow of venture capital to startups ebbed in the first quarter for the biggest quarterly decline since 2012. Payments players, which have been big beneficiaries of such investments, are beginning to feel the pinch.

By Lynne Marek • April 12, 2022

Stripe sees growth slowing this year after pandemic e-commerce boon

Despite opportunities to sell to the creator economy and meet demand for embedded tools, the company said it won't grow as much this year as last year, citing "one-time behavioral adjustments" in 2021. The super-unicorn still expects to expand based on "explosive growth in fintech."

By Jonathan Berr • April 12, 2022

U.S. Bank teams with Lithia on real-time payments tool

U.S. Bank and Lithia Motors are teaming up to test a new real-time payments tool for customers selling their used cars to the auto dealer in their driveways. The pilot in Portland, Oregon, is expected to be rolled out nationwide this year.

By Lynne Marek • April 4, 2022

Cross River reaches $3B valuation, eyes global expansion

The banking-as-a-service company, has a sweet spot in payments. Cross River's clients include payments juggernaut Stripe, buy now-pay later provider Affirm and crypto exchange Coinbase.

By Anna Hrushka • March 31, 2022

CEOs Sound Off: Confronting a lack of diversity in payments

Payments CEOs recognize the need to draw more women and people of color into the industry, and the need to promote them. To effect change, these CEOs are changing job descriptions, casting a wider net in recruiting and showcasing how they're different.

By Lynne Marek • March 31, 2022

OnPay Solutions acquired by Medius

The acquisition of Jacksonville-based OnPay Solutions is the latest in a string of business-to-business deals over the past year. For Medius, it provides entry into the U.S. market following other recent expansion moves.

By Tatiana Walk-Morris • March 29, 2022

PayPal's Happy Returns to add service in Ulta stores

PayPal's Happy Returns services will now be available at the beauty products store chain. PayPal has integrated its returns services into multiple retailers’ brick-and-mortar locations over the past few years.

By Tatiana Walk-Morris • March 28, 2022

Sightline taps JPMorgan Chase for gaming expansion

Sightline is hiring the big bank after raising significant equity capital last year. Payments processors have unveiled new services as online gambling has increased over the past few years.

By Tatiana Walk-Morris • March 25, 2022

Ramp raises $750M to fuel growth

New York-based corporate spend management platform Ramp said today it's raised $200 million in equity and $550 million in debt financing, bringing its valuation to $8.1 billion.

By Caitlin Mullen • March 21, 2022

Moving big money is about to get faster

In the next few weeks, the two U.S. automated payments systems are set to increase the speed with which $1 million can be sent between two parties.

By Lynne Marek • March 16, 2022

Shift4 to buy 2 companies for $579M

The Allentown, Pennsylvania-based payments provider said it has agreed to acquire the cross-border player Finaro and cryptocurrency donations firm The Giving Block in a bid to expand its global reach.

By Caitlin Mullen • March 2, 2022

Decline of cash spotlights swipe fees

"At a time when the economy is still building back from the pandemic, these rising fees desperately need to be brought under control, and the rapid move toward an all-electronic economy with little cash makes the need to do so all the more urgent," writes National Retail Federation Vice President Leon Buck.

By Leon Buck • Feb. 16, 2022

FIS acquires fintech Payrix

Payments giant Fidelity National Information Services (FIS) has acquired fintech Payrix to bolster its embedded payments offerings in the e-commerce space for small and medium-sized businesses. On Tuesday, FIS President Stephanie Ferris called it a "small but really highly strategic acquisition."

By Caitlin Mullen • Feb. 15, 2022

ACI creates BNPL gateway for merchants

As consumers flock to buy now-pay later options, ACI Worldwide is launching a global BNPL interface for merchants the company says will be a single gateway to multiple installment lenders.

By Caitlin Mullen • Feb. 15, 2022

Payments confronts fundraising slowdown

“There was a lot of exuberance around valuations of young, fast-growing payments companies, and that exuberance hasn’t gone away completely, but it’s begun to wane,” said Zach Sadek, partner with Parthenon Capital, a private equity firm in Boston.

By Caitlin Mullen • Feb. 14, 2022

Global Payments puts Netspend on sales block

The Atlanta payments processor aims to offload its Netspend consumer debit card business so it can focus more exclusively on B2B operations. "We intend to retain its B2B assets as we further expand this new pillar of our strategy," the company's CEO said.

By Lynne Marek • Feb. 11, 2022

FIS joins forces with Singapore's Crypto.com

As interest in cryptocurrencies persists, despite wild fluctuations in prices, one of the largest U.S. payments processors is delving deeper into crypto with this new pact.

By Jonathan Berr • Feb. 9, 2022

Mastercard teams with fintechs on small business card

Mastercard is teaming up with two San Francisco fintechs, Highnote and Flowcast, to create a new credit card for small businesses. They're jumping into a field where high-growth fintechs like Brex and Ramp are already gaining traction.

By Caitlin Mullen • Feb. 9, 2022

UnionPay expands pact with Fiserv

Fiserv tapped UnionPay to expand services internationally, allowing the Shanghai-based card company to reach more consumers and merchants. "We have several notable international wins in the quarter, including an expanded partnership with UnionPay International," said Fiserv CFO Bob Hau during the company's Tuesday earnings call.

By Lynne Marek • Feb. 8, 2022

Nacha payments value jumped to $72.6 trillion last year

Electronic payments racing through the Nacha network increased for the seventh consecutive year in 2021, with the value of the payments jumping 17.4% and the volume rising 8.7% over 2020, the organization said.

By Lynne Marek • Feb. 4, 2022

CFOs slow to upgrade cash tracking despite pandemic: Forrester

More than half of companies surveyed by Forrester Research struggle to upgrade payment processes to meet users’ needs. Seven out of 10 financial executives say their cash flow systems provide only partial insight into their companies’ financial position.

By Jim Tyson • Jan. 31, 2022