Payments News

On The Web

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Use

Vivint Smart Arena Going Fully Cashless After Successful Trial

“Vivint Smart Home Arena, the home of the National Basketball Association’s Utah Jazz, is going fully cashless following a successful trial late last year. Beginning January 18, the sports and entertainment venue will only accept credit, debit and prepaid cards, and mobile payments for sales at all food and beverage points of purchase, the box […]
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Companies

Lawmakers Call for Investigation of Fintech Firm Yodlee’s Data Selling

“Financial-data firm Yodlee might be selling consumers’ personal financial data without proper consent, three lawmakers said in a Friday letter calling on the Federal Trade Commission to investigate the matter. The letter opened a new area of potential risk for the company, which is one of many firms that make money by selling information about consumers.”
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Deals

Goldman Sachs Leads $50M Round for Credit Card Platform Deserve

“Deserve, a credit card startup helping young people establish themselves, as well as a cloud-based credit card platform for businesses, has raised $50 million in a new round of Series C funding led by Goldman Sachs, the company announced today. The funds will be put toward Deserve’s further development of what it calls its “Card […]
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People

A Dollar by Any Other Name: Thoughts on Digital Fiat Currency

What are central banks – and governments – going to do about cryptocurrencies?  I was in New York last week to better understand what central bankers are thinking about   – and doing – with respect to “Digital Fiat Currency”.   The workshop was part of an ITU Focus Group Program on “Standardizing Digital Fiat Currency and its Applications”.  Central […]
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Companies

China’s $7.6 Trillion Online Payments Market Is No Longer Enough For Jack Ma’s Ant Financial

“Jack Ma’s Ant Financial grew to become one of China’s largest fintech platforms by providing e-wallet services and online investments to hundreds of millions of consumers. But amid mounting regulatory pressure, Ant has sights on a new market. Ant’s president of advanced technology business group, Geoff Jiang, told FORBES ASIA in an interview that the […]
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Companies

Libra Association Forms Steering Committee to Guide Technical Development

“The Libra Association — the government body of the eponymous stablecoin introduced by Facebook in late 2019 — has formed a new committee to guide the network’s technical development. According to an announcement on Jan. 16, the Libra Association has voted to establish the five-member Technical Steering Committee which comprises leading experts from various firms in the fintech […]
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Companies

Lawsuit Alleges PNC Built Payments Product with Stolen Trade Secrets

“About a year ago, PNC Financial Services Group launched an online portal that’s designed to eliminate paper-based payments for companies in the middle of a merger or acquisition. PNC Paid is part of a suite of corporate finance products and services that the Pittsburgh company offers and has described as being unique in the banking industry. But […]
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Companies

Paytm Rolls Out All-in-One Payment Device

“Paytm, India’s leading digital payments player, unveiled new products to target businesses and ward off rising competition from Google Pay, Walmart Inc.-owned PhonePe and Amazon Pay. Paytm introduced a stand that displays QR check-out codes that comes with a calculator and USB charger, a so-called sound box that provides voice confirmations of transactions, cloud software […]
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Companies

Chevron App Now Accepts Venmo

“Chevron announced that its new Chevron and Texaco mobile apps now include Venmo as a payment option, making the company the first to accept the payment service for fuel purchases at the pump. ‘Chevron updated its branded mobile applications to offer consumers access to Venmo to pay for fuel and car washes at the pump from their mobile […]

On The Wires

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Deals

LendingClub Announces Acquisition Of Radius Bank

“LendingClub Corporation, America’s largest online lending marketplace connecting borrowers and investors, today announced that it has signed a definitive agreement to acquire Radius Bancorp, and its wholly owned subsidiary Radius Bank, (together “Radius”) recently voted the nation’s best online bank in a cash and stock transaction valued at $185 million. Combining Radius and LendingClub will create a digitally […]