Technology

If suppliers don’t get paid in a way that works well in their processes and systems, it causes many nightmares for their accounts receivable team. Those nightmares can spread throughout the organization, causing stress and frustration, says Nvoicepay's Josh Cyphers.

Various efforts to limit cash were in motion well before the global health crisis, but merchant and consumer digital money habits being built during the pandemic will carry on for many years, thus leaving cash sidelined in many purchasing scenarios.

Citigroup’s $900 million payment blunder in a normally low-profile part of the financial market dominated by a handful of banks has experts wondering if regulators will uncover a deeper problem.

The bank will outsource future development of Quorum to the software firm.

Socure, which applies machine learning to spot identity fraud, has raised $35 million in a new funding round from venture capital funds and banks.

Viva Wallet's cloud-based payments service will soon reach merchants in 23 European countries through an expanded acceptance agreement with Japan’s JCB card network. The move comes a few weeks after the Greek fintech became a bank.

Afterpay has entered into an agreement with NBQ Corporate SLU to acquire Pagantis SAU and PMT Technology SLU for €50 million (about $59 million) to expand into France, Italy and Spain — a direct challenge to Klarna, one of the dominant European buy now, pay later (BNPL) providers.

Checkout-free retail is still not ready to move out of tiny spaces, though Amazon’s trying to accelerate progress through a trio of initiatives that have come to light over the past few weeks.

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

The company will offer retail installment loans up to $40,000 through a partnership with Mastercard's Vyze unit.