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- E-commerce platform eBay Inc. announced it is launching a digital wallet, its first, to allow sellers to use proceeds from their sales to make purchases or pay for selling expenses.
- The Western Union Co. has suspended operations in Russia and Belarus in response to Russia’s invasion of Ukraine. The move follows decisions by other global payments companies, including Visa, Mastercard, and American Express, to shut down operations in Russia and Belarus in reaction to Russia’s attack. Discover said its self-branded card and Diners Club International cards did not have active partners in Belarus or Russia. There is no acceptance of Discover, Diners Club, Network Alliance Partners, and Pulse in either nation and none of its cards are issued there, Discover said.
- In related news, Cleverbridge, a specialist in subscription billing for business-to-business and business-to-consumer organizations, also said it is ceasing operations in Russia and Belarus.
- Declining Covid-19 case counts helped propel the Visa Spending Momentum Index to 109.3 last month, up from 102.4 in January, the card network said. Readings above 100 indicate strengthening spending momentum; below 100, weakening momentum.
- Grocer Fareway Stores Inc. now accepts PayPal and Venmo digital wallets in all of its 129 company store locations, said Blackhawk Network Holdings Inc., which is working with Fareway to enable the acceptance.
- A TDBank survey of 1,007 consumers found that 31% have used a buy now, pay later financing option. Of these, 47% said they used it more now than they did a year ago and 81% anticipate they will do so in the next 12 months.
- PowerPay, a startup that offers a point-of-sale financing program for home-improvement merchants, launched a new platform offering faster approvals and said it is expanding into solar, health-care, and powersports products.
- Equipment-rental firm Sunbelt Rentals launched a mobile app to allow customers to make rental payments and manage projects.
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