On The Web

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Domains

As Customers Move Online, So Does the Holiday Shopping Season

November 24 2020

• in
• Remote Commerce

“The holidays will look different at Macy’s this year. The Thanksgiving Day parade will proceed without spectators, and Santa Claus will not be reviewing Christmas wish lists from his usual perch on 34th Street. But while many of those traditions are likely to return once the threat of the coronavirus passes, other changes at Macy’s […]

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Domains

Looking to emulate Venmo, JoomPay preps a Euro launch for easy bill splitting and cash payments

November 24 2020

• in
• Europe
• P2P

“JoomPay , a startup with a similar product to PayPayl-owned Venmo in the US, is set to launch in Europe shortly after being granted a Luxembourg Electronic Money Institution (EMI) license. The app allows people to send and receive money with anyone, instantly and for free.”

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Deals

YC-backed Cashfree raises $35.3 million for its payments platform

November 24 2020

• in
• India
• Remote Commerce

“Cashfree, an Indian startup that offers a wide-range of payments services to businesses, has raised $35.3 million in a new financing round as the profitable firm looks to broaden its offering… Cashfree kickstarted its journey in 2015 as a solution for restaurants in Bangalore that needed an efficient way for their delivery personnel to collect […]

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Domains

How Bank of America helped fuel California’s unemployment meltdown

November 24 2020

• in
• Government Payments

“After the Great Recession, California signed an exclusive contract with Bank of America to distribute unemployment benefits through prepaid debit cards. A CalMatters investigation reveals that to this day, no one knows how much the bank has made off the deal. Lawmakers are examining the bank’s role in mass account freezes and untold amounts of […]

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Domains

Wish files to go public with 100M monthly actives, $1.75B in 2020 revenue thus far

November 23 2020

• in
• Remote Commerce

“Wish’s S-1 (which is filed under its corporate name ContextLogic) is of particular interest given that COVID-19 and the global pandemic have changed consumer behavior around the world in 2020. As going to stores became more risky over time, many shoppers turned to buying more goods from the internet, bolstering e-commerce players like Shopify and […]

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Domains

Global Payments Network Veem Launches New Service “Veem Check” to U.S. Users

November 19 2020

• in
• B2B

“Global payments platform Veem announced on Wednesday the launch of its latest product, Veem Check. According to Veem, U.S.-based users can now issue all of their domestic payments, which include online, check, or Instant Deposit, within minutes on the Veem platform.”

On The Wires

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Domains

HSBC Bank Launches Single Global Account and Real-Time Payments Platform: HSBC Global Money Account

November 23 2020

• in
• Banks
• Cross-border payments

“HSBC Bank USA , N.A., (HSBC), part of the HSBC Group, today announced the launch of its newest real-time payments offering. HSBC’s Global Money Account allows its international customer base to hold, manage and send money across various currencies to 14 million HSBC customers in 20 countries worldwide through a single account 24/7. There are […]

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Companies

Payoneer Launches Payment Orchestration to Supercharge Global Payment Strategies for e-Commerce Merchants in North America

November 23 2020

• in
• Payoneer
• Remote Commerce

“Payoneer, the digital payment platform empowering businesses around the world to grow globally, today announced that its new payment orchestration platform is available for e-Commerce merchants in North America that are looking to accept international payments. Following its acquisition of optile, Payoneer has now integrated its offering into its core platform and broadened its potential […]

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Companies

Visa Commercial Pay Brings Virtual Card Capabilities to Clients and Partners Worldwide

November 23 2020

• in
• B2B
• Visa

“Visa (NYSE:V), the world’s leader in digital payments, and Conferma Pay, the world’s foremost provider of virtual payments technology, today announced a strategic partnership to launch Visa Commercial Pay, a suite of B2B payment solutions, to help improve cashflow for businesses and eliminate outdated manual processes.”

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Domains

Xoom Launches Direct Money Transfers to Bank Accounts and Debit Cards in the U.S.

November 19 2020

• in
• P2P

“Xoom , PayPal’s remittance service, today announced that customers in the U.S. can now send money directly to a recipient’s eligible bank account or debit card. Available to customers in the U.S., this new functionality allows people to securely send fast money transfers online or using the Xoom mobile app to support family and friends […]