Regulatory changes in its European market have hammered Paysafe Ltd.’s digital wallets, chopping the company’s quarter-to-quarter payments volume and revenue and forcing its top executives to spend a good deal of time Thursday morning explaining the impact to stock analysts. “We are facing challenges in our digital-wallet business. It’s performing …
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Buy now, pay later powerhouse Affirm Inc. will be the exclusive provider of BNPL services for Amazon.com until the end of January, 2023, under a deal Affirm announced Wednesday. Affirm will also be included as an option in Amazon’s wallet, Amazon Pay, according to the agreement. The agreement represents a …
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In time for the start of holiday-shopping season, buy now, pay later provider Afterpay Ltd. has expanded its in-store presence. New retailers offering the service include Nordstrom and Nordstrom Rack, J.Crew, Madewell, and American Eagle. In addition, Afterpay will be available at airport and resort-casino specialty retailer Marshall Retail Group, …
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The continuing shortage of semiconductor chips is creating an opportunity for merchants and consumers to embrace tap-to-mobile payments, according to a study from payments processor NMI. The survey, which polled merchants and consumers in the United States and the United Kingdom, revealed that 95% of merchants said they would consider …
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PayPal Holdings Inc. announced late Monday U.S. users of its Venmo wallet will be able to use Venmo on Amazon.com Inc.’s massive marketplace and on the Amazon shopping app in the U.S. market, starting in 2022. The news comes as the latest development in a long effort PayPal has engaged …
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In the face of an ongoing pandemic, Square Inc. late Thursday reported a record quarter for gross processing volume and made it plain its strategic priorities are to move upmarket to larger merchants and to expand the user base for its consumer product, Cash App. Recent moves include Square Invoices …
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Zip Co. Ltd. launched the Zip Card, a physical card to complement its virtual card in the highly competitive buy now, pay later arena. The new card, to be issued by WebBank, a Salt Lake City-based industrial bank that works with brands like Dell Financial Services, CAN Capital, Klarna, Fingerhut, …
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Payments provider Lightspeed Commerce Inc. reported revenue for its quarter ended Sept. 30 of $133.2 million, up 193% year over year. The number includes contributions from recent acquisitions, including NuOrder, Vend, Upserve, and ShopKeep.FreedomPay Inc. said restaurant chain Shake Shack will use its Touchless Commerce service at more than 200 locations. This will …
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Two trends have buoyed the payments business since the onset of the pandemic—online shopping and buy now, pay later capability—and on Wednesday Klarna AB launched a new app that exploits both trends by letting consumers use Klarna’s BNPL service regardless of whether the store is a Klarna merchant. The new …
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Apple Inc. filed an objection to a September U.S. District Court ruling that it says hinders the computing giant’s ability to restrict developers on its App Store to Apple’s own payment system. The ruling upheld Apple’s requirement that developers use its payment system within the App Store but said Apple must allow references to …
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