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eBay's U.K. operation will offer loans to the small businesses that sell on its platform, placing it among the fintechs and payment companies that are using merchant credit to improve clients' liquidity during the pandemic.
The e-commerce site is partnering with U.K. fintech YouLend to process loan applications of up to about $1.2 million and receive a decision within moments, reports
eBay manages its own
On alert
German regulators are pressuring fintech N26 to install protections against money laundering and terrorist financing.
BaFin has appointed a commission to monitor N26's compliance with the AML order and other compliance shortfalls, according to
BaFin is also under pressure, having tightened its own controls following criticisms of the regulator during the Wirecard scandal, according to Reuters. BaFin faces a
New market
U.K. firm Trust Payments has partnered with Global Sales Partner and POS ONE to expand to Nordic markets.
GSP's technology enables omnichannel shopping and payments, while POS ONE is a cloud-based firm that sells merchant services. Trust will integrate its TRU Link payment product with the partners, connecting all three firms to a merchant's technology system, supporting data management and reconciliation.
Trust is hoping to gain ground in the Nordic region, which it characterized as having a high level of electronic payments and little cash usage.
Opening offer
Cryptocurrency exchange Coinbase is changing salary processes, such as its ban on upfront negotiations on salary and equity as part of recruiting. It's opting to set standard compensation packages for specific job titles instead of individual candidates.
The company says this is designed to eliminate unequal outcomes for new hires from underserved groups, and will encourage transparency. Once staffers are hired, raises will be determined by performance on the job, Coinbase said.
Coinbase has expanded rapidly in the past year, reporting its headcount has grown by 100%.
From the web
THE WALL STREET JOURNAL | Wednesday, May 12, 2021
Tesla chief says bitcoin will be used for transactions “as soon as mining transitions to more sustainable energy.”
REUTERS | Thursday, May 13, 2021
India's central bank is informally urging lenders to cut ties with cryptocurrency exchanges and traders as the highly speculative market booms, despite a Supreme Court ruling that banks can work with the industry, three sources told Reuters
TECHCRUNCH | Thursday, May 13, 2021
Nano Technologies, a startup that lets workers in Vietnam access their earned wages immediately through an app called VUI, has raised $3 million in seed funding. The oversubscribed round was led by returning investors Golden Gate Ventures and Venturra Discovery, and included participation from FEBE Ventures, Openspace Ventures and Goodwater Capital.
More from PaymentsSource
ISO 20022 prioritizes speed and security, creating a runway for major new innovations like machine learning, says NICE Actimize's John Buzzard.
Government digital currency projects have the potential to displace banks and fintechs from the payment process. But three major participants — Accenture, Ant Group and Swift — argue that incumbents have a role to play.
The Facebook-affiliated Diem stablecoin is shifting its primary operations from Switzerland to the U.S., a move that includes a deal with a regulated American bank and a withdrawal of the project's application for a Swiss payment license.
Alliance Data Systems, which operates private-label and cobranded credit card and loyalty programs, plans to spin off its loyalty operations this year to improve the parent company’s performance.
U.S. households again reduced their credit card balances in the first quarter, the Federal Reserve Bank of New York said Wednesday, even as vaccinations and reopenings were helping to rekindle consumer spending.
Traditionally, finance and accounting teams live in a world of numbers, overseeing spend management and aiming to keep every department on budget.
The urgency to streamline processes during the pandemic accentuated how digitization can also drive diversity, fairness and better environmental outcomes, says Microsoft’s
Legacy vendors are competing more aggressively to modernize payroll, insurance payouts and data sharing.
Apple provided in-depth detail on how many apps it rejected last year and why its iPhone payment system keeps customers secure, seeking to deflect claims from Epic Games that its review process and purchase system is a deterrent to competition.
ByteDance's TikTok is working with brands including streetwear label Hype to test in-app sales in Europe, a move that will intensify its competition with Facebook Inc. and further blur the line between social media and online shopping.
The San Francisco-based technology provider raised $70 million in a Series C round this week, bringing its total funding to $114 million.
Google is enabling cross-border payments within the Google Pay app through integrations with Western Union and U.K.-based remittance firm Wise.
While the eventual emergence from lockdown will help ease the pressure on overworked compliance departments, there is still an obvious need for tools that will make the anti-money laundering process simpler and stress-free, says SmartSearch's
Both vendors use remote hosting and web delivery to support e-commerce, APIs and other technologies that go beyond their traditional focus on the ATM and point of sale.
Despite strong payment volume and revenue, Affirm's earnings suffered due to stock compensation and an adjustment on its purchase of PayBright in January.
Fraud is commonly viewed as a series of unique events such as a phishing attack, or target- based, such as romance fraud, or even by type such as unemployment fraud. Unfortunately, fraud is often so intertwined that a single event — such as Marriott’s 2018 data breach — often leads to another, such as synthetic fraud.
A 125,000-point sign-up bonus. Credits for Equinox personal training. An exclusive airport lounge with cold brew on tap.
New applications of QR codes in recent months mean that they have become part of our everyday lives, including as part of ticketing.
The Mojaloop Foundation's Adama Diallo and Paul Hunter argue open, affordable real-time payments systems have the potential to include all and help turn underserved women into the newly served, enabling them to become economically active.
This year's honorees are women under 40 who have demonstrated a strong talent for leadership and an expertise in their respective fields. They also took on crucial responsibilities to help their organizations navigate the complexities of the pandemic, and set their companies on a path for continued growth.
