Payments News

On The Web

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Companies

Shopify Joins Libra, Defying a Wave of Defections From the Crypocurrency Venture

“The controversial Libra cryptocurrency project gained a new member Friday with Shopify Inc.’s announcement it will join the Libra Association , the governing body for the fledgling venture. Shopify’s decision comes in the face of a string of eight high-profile defections from the association since October, including decisions by Mastercard Inc., PayPal Holdings Inc., Stripe […]
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Global

EU Eyes Single Space for European Bank Cards

“The European Commission will present this autumn a strategy on an integrated EU payments market, to facilitate the use of national payment services across Europe and reduce the dependency from international card operators such as Visa or Mastercard. The Single Euro Payments Area (SEPA) provides for uniform credit transfers and direct debits for over 500 […]
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Global

Sweden Starts Testing World’s First Central Bank Digital Currency

“Sweden’s Riksbank said on Wednesday it had begun testing an e-krona, taking the country a step closer to the creation of the world’s first central bank digital currency (CBDC). If the e-krona eventually comes into circulation it will be used to simulate everyday banking activities, such as payments, deposits and withdrawals from a digital wallet […]
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Deals

Open banking fintech Yapily raises $13M Series A

“Yapily , one of a number of fintech startups that offer an opening banking API to let enterprises, such as financial service providers and merchants, connect to banks, has raised $13 million in Series A funding. Leading the round is Lakestar, which is also a backer of fintech unicorn Revolut. Existing investors HV Holtzbrinck Ventures, […]
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Tech

Interac Sees Digital and Contactless Payment Rush As Consumers Hunker Down During Coronavirus Pandemic

“Canadian debit-payments firm Interac Corp. is experiencing a surge in digital and contactless transactions as consumers make purchases from home and try to keep their hands clean during the coronavirus pandemic. There were 51.9 million e-transfers sent through Interac in March, the first time the 50-million mark has been crossed in a month. “We’re conducting […]
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Domains

Fed Preparing to Finance New Small-Business Payroll Loans

“The Federal Reserve said Monday it would create a new program to finance loans that banks and other lenders make through the government’s emergency small-business lending program . The move will free up financial firms to make more loans guaranteed by the Small Business Administration’s Payroll Protection Program, part of a $2.2 trillion economic relief […]

On The Wires

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Companies

TouchBistro Launches ‘Restaurant Recovery Navigator’ and New Products to Support Restaurateurs Through the COVID-19 Pandemic

“TouchBistro announced today the launch of its all-new Restaurant Recovery Navigator , a go-to source for information, insights, products, and one-on-one support to help restaurateurs navigate their business through the COVID-19 pandemic and prepare a path forward for the future. TouchBistro also launched its dedicated gift card offering, a new solution designed to help restaurateurs […]