Payments

Sluggish single-digit e-commerce growth drove PayPal to postpone its forecast for the coming year, as CEO Dan Schulman, who plans to retire this year, itemized further cost cuts.

Schulman, president and CEO of PayPal since 2014, will leave at the end of 2023. He will continue to serve on the company's board and will join in its search for a successor, the company said.

The Dutch fintech company's hiring plans stand out amid a wave of tech industry layoffs as funding slows.

The payments app is gradually adding network support for substitute card numbers, which can reduce friction at the point of sale while providing fraud protection.

Amex and Microsoft are developing a business-travel expense approach that gives users a green, yellow or red code indicating whether an expense is approved, under consideration or rejected.

The buy now/pay later lender posted larger-than-expected losses, and following its layoffs it will deemphasize products with an uncertain short-term outlook, such as crypto trading.

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The loyalty tech provider aims to bypass credit card networks with an account-to-account payment option leveraging faster payment rails. Observers say it faces long odds for mass adoption.

Visa is opening a new office in Atlanta as the payments giant proceeds with plans to triple its workforce in the city even as rivals cut back on their staffing.

Companies like CarParts.com and Affirm are tailoring loans for auto repairs, travel and other areas where borrowers are most sensitive to ballooning prices.