Payments News

On The Web

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Companies

Mastercard Joins Blockchain-Powered Trade Finance Consortium Marco Polo

“Mastercard has joined Marco Polo, a consortium working to simplify global trade with blockchain technology. Announced Tuesday, the payments giant’s business-to-business global trade unit, Mastercard Track, will provide an access point to Marco Polo ’s working capital finance platform, which operates within a $1.5 trillion market, as estimated by the World Trade Organization.”
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Companies

Square Competition Concern Intensifies as Key Customer Bails

“Faucette, who has an equalweight rating on Square, said recent commentary indicates Joe & the Juice moved to competitor Adyen to gain a single global processor across all of its international markets. That suggests Square is still in the early days of developing its brand power in global markets and is less likely to offer […]
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Companies

Walmart Is Losing a Lot of Money Online. Does That Matter?

“Walmart Inc.’s online sales—which include a large buy online pick up in store (BOPIS) operation for groceries and other goods—are soaring. But profit for the ecommerce operation could be years away, according to industry observers. In the first and second quarters of Walmart’s current fiscal year, online sales grew 37.0% , the company reported. Management […]
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Companies

Discover and Verve Mark Launch of Verve Global Card With First Transaction Event

“Verve, a leading payments technology company and Interswitch’s card scheme in Africa, and Discover Global Network, the payments brand of Discover, held an event to launch the Verve Global Card. Cardholders will now have the ability to use their Verve Global Cards on the Discover Global Network which provides acceptance at millions of merchants globally. […]
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Companies

Jack Dorsey: Mass Crypto Adoption Will Transform Square’s Business

“Rather than focusing on money transmission or payments, as at present, the firm will likely begin to develop services “like hardware, analytics and payroll and lending,” Dorsey said. Square integrated bitcoin in 2018, when its Cash App began selling the cryptocurrency to users. This service generated over $190 million in revenue over the first two […]
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Companies

How Amazon’s Shipping Empire Is Challenging UPS and FedEx

“Amazon.com Inc. recent breakup with longtime shipping partner FedEx Corp. shows how far the e-commerce giant has come in creating its own delivery network. Over the years, Amazon has played down its ambitions. But as consumers flock to its site for everything from toilet paper to TVs, Amazon has quietly blanketed the nation with hundreds of […]

On The Wires

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Companies

Galileo Changes Legal Name to Reflect Position As Industry Leader in Financial Technology

“World leading fintechs—including Chime, KOHO, Robinhood, TransferWise, Varo and many others—use Galileo’s payments platform in a variety of use cases, such as challenger banking, lending, consumer payments, commercial payments, gig economy applications and wealth management solutions. Earlier this summer, the company announced Galileo Money+, a new product that enables registered investment advisors to create white-labeled […]