Technology

"It's on-demand capital for us," Optus Bank's CEO says of the payment company's deposit. The funds are part of PayPal's broader effort to confront race and income inequality.

Remitly has added 11 new mobile wallets to its network, almost doubling its reach to 300 million consumers, to meet demands for cash alternatives amid the COVID-19 pandemic.

"It's on-demand capital for us," Optus Bank's CEO says of the payment company's deposit. The funds are part of PayPal's broader effort to confront race and income inequality.

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.