News

October, 2021

• 22 October

  The CFPB’s Order Asking for Payments Data From Six Big Tech Companies Stokes Controversy

  

  The Consumer Financial Protection Bureau order handed down Thursday that asks Google, a unit of Alphabet Inc., Apple Inc., Facebook Inc., Amazon.com Inc., Square Inc., and PayPal Holdings Inc. to turn over information about their payments products, plans, and practices has industry observers lining up on both sides of the …
• 22 October

  AmEx Posts a Strong Quarter As Its CEO Signals Caution on BNPL, Crypto, And Acquisitions

  

  American Express Co. reported strong results Friday morning for its third quarter as its top executive said the company hasn’t exhausted its interest in acquisitions, though he added the New York City-based payments company is cool to the prospects for cryptocurrency as a medium of exchange. Chief executive Stephen Squeri …
• 22 October

  Klarna Acquires Inspirock and other Digital Transactions News briefs from 10/22/21

  

  International payments provider Klarna Bank AB acquired Inspirock, an online trip planner used by 25 million customers annually. Terms were not disclosed.In related news, Klarna said it is working with software-as-a-service platform provider Wix.com Inc. to enable Wix’s e-commerce merchants in 17 countries to accept payments through Klarna.Processor Lightspeed Commerce Inc. expanded its Lightspeed Capital program …
• 21 October

  When ISOs and ISVs Converge

  

  Perhaps the most significant fintech trend is the convergence of ISOs and software developers. Both have much to gain by adding the value provided by the other. Over the past decade, we’ve watched as the worlds of payments and software became intertwined. Recently the lines between both worlds have blurred …
• 21 October

  Veem Partners With Q2 Holdings to Make Digital B2B Payments More Accessible

  

  As part of its strategy to remove friction from the accounts-payable and accounts-receivable process for small and medium-size businesses, payment-technology provider Veem Inc. on Thursday announced a partnership with Q2 Holdings, Inc., a provider of digital banking and lending solutions. Under the terms of the deal, Veem will make its …
• 21 October

  Plaid Launches an Initiative With Multiple Fintechs to Enable a Wider Reach for Account-Based Payments

  

  The big open-banking provider Plaid Inc. on Thursday launched a major international campaign to support so-called account-based payments, working in league with almost 50 fintech companies and service providers in North America and Europe. The partners include long-time Plaid allies Dwolla Inc. and Square Inc., as well as new connections …
• 21 October

  PayPal Buying Pinterest? and other Digital Transactions News briefs from 10/21/21

  

  PayPal Holdings Inc. might buy the Pinterest social media company for approximately $45 billion in what would be the tech industry’s biggest takeover of 2021, Bloomberg reported.The Consumer Financial Protection Bureau has issued an order to Amazon, Apple, Facebook, Google, PayPal, and Square asking for information on how they use personal payment data …
• 20 October

  Stripe Strikes Again In Executing Its Strategy to Expand Beyond Online Payments Acceptance

  

  Building on its strategy of expanding beyond payments acceptance, Stripe Inc. on Wednesday announced the acquisition of Recko Inc., a provider of payments-reconciliation software for Internet businesses. Terms were not disclosed. The deal follows the debut of new applications this year intended to carry out this strategy, such as Stripe …
• 20 October

  How Consumers’ Growing Adoption of BNPL Is Getting the Ad Dollars Flowing

  

  The heady times for buy now, pay later just keep on rolling. Now, with 44% of consumers saying they have used BNPL options to make a purchase, according to personal-finance company Credit Karma LLC, providers of the point-of-sale financing have opened the ad-spending spigot.  A new report from MediaRadar, a …
• 20 October

  AmEx and Goldman’s Tie-Up and other Digital Transactions News briefs from 10/20/21

  

  American Express Co. said it and Goldman Sachs Transaction Banking are collaborating on a cloud-based payments service for large corporate clients. AmEx’s virtual cards will be available in the Goldman Sachs TxB platform, which already offers automated clearing house, wire, and foreign currency payments.A study from Alliance Data Systems Corp. indicates 27% of …