Payments News

On The Web

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Companies

Square Reports Q1 Sales of $489M, up 59%, but Net Loss Widens to $38M

“Square continued to grow business operations like Square Cash — its instant money transfer service — and its core payments business (subscription and services revenue). The latter was up 126% to $219 million, led by growth of the Square Cash app, Caviar, Square Capital and Instant Deposit for sellers. Square noted that in the first quarter of […]
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Companies

Global Payments Touts Differentiated Strategy

“Global’s North America segment benefitted in part from the strong U.S. dollar. But the region delivered strong results in U.S. integrated-payments and Global’s direct-sales merchant-acquiring operation, which grew in the high-single-digits range, chief financial officer Cameron M. Bready said on a morning conference call with analysts. In contrast, revenues from the U.S. wholesale business, which […]
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Companies

Facebook’s Blockchain Team Said to Be Assembling Its Own Mini-PayPal Mafia

“The inner workings of Facebook’s blockchain team are still shrouded in secrecy, but it’s staffing up, according to people familiar with the group. Those people said that its product, which Bloomberg earlier reported will be a type of cryptocurrency, could be announced as soon as next quarter. Launched last May, Facebook’s blockchain unit now counts […]
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Companies

Amazon Hit by Extensive Fraud With Hackers Siphoning Merchant Funds

“Amazon.com Inc. said it was hit by an “extensive” fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year.    Amazon believes it was the victim of a “serious” online attack by hackers who broke into about 100 seller accounts and funneled cash from loans or sales […]
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Companies

Why India Is Key to Mastercard’s Success Across the World

“The global digital payment network Mastercard is betting big on India. The company has laid out a blueprint to invest Rs7,000 crore (nearly $1 billion) in the country over the next five years. This includes building a $350-million data processing centre—Mastercard’s first outside home country US. Out of the over 200 countries where it has […]
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Companies

Stripe’s Fifth Engineering Hub Is Remote

“Stripe has engineering hubs in San Francisco, Seattle, Dublin, and Singapore. We are establishing a fifth hub that is less traditional but no less important: Remote. We are doing this to situate product development closer to our customers, improve our ability to tap the 99.74% of talented engineers living outside the metro areas of our […]

On The Wires

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Companies

Mastercard Strengthens Bill Payment Services With Acquisition of Transactis

“Mastercard (NYSE: MA) today announced it has entered into an agreement to acquire Transactis, a platform that helps businesses deliver bills and receive payments through one simple-to-navigate experience. In today’s digital age, a surprising 44 percent of the 15 billion bills that Americans pay each year are made by paper check or cash. Consumers who […]
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Companies

“SWIFT announces the launch of an ‘in-flight’ payment investigation and resolution service, available in the cloud, in a significant expansion of its network-wide payments validation toolkit. The new capability allows for dynamic query handling between banks on the SWIFT network, enabling them to quickly resolve instances in which required operational, regulatory or compliance information is […]
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Companies

American Express® Refreshes Blue Cash Preferred® Card

“American Express (NYSE:AXP) is refreshing its popular Blue Cash Preferred® Card with a suite of new valuable benefits to further reward Card Members for their everyday routines. Beginning May 9, 2019, new and existing Blue Cash Preferred Card Members will receive 6% cash back on select U.S. streaming subscriptions and 3% cash back on transit […]