Payments News

On The Web

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Domains

Amazon, Walmart Tell Consumers to Skip Returns of Unwanted Items

“Retailers have a new message for consumers looking to return an item: Keep it. Amazon.com Inc., Walmart Inc. and other companies are using artificial intelligence to decide whether it makes economic sense to process a return. For inexpensive items or large ones that would incur hefty shipping fees, it is often cheaper to refund the […]
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Deals

Checkout.com Raises $450 Million and Reaches $15 Billion Valuation

“Payments company Checkout.com is raising once again. The company has closed a $450 million Series C round with Tiger Global Management leading the round — Greenoaks Capital and all existing investors are also participating. If you’re not familiar with the company, Checkout.com wants to build a one-stop shop for all things related to payments, such […]
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Domains

PayPal and Shopify Remove Trump-related Accounts

“Online commerce and payment services have stopped the flow of money to Trump-related accounts in light of Wednesday’s insurrection at the US Capitol. Software maker Shopify removed stores affiliated with President Donald Trump from its platform, and payment processor PayPal shut down an account raising funds for Trump supporters who traveled to Washington, DC.”
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Deals

Nets’ Subsidiary Paytrail to Acquire Checkout Finland

“Nets Group’s Finnish online payment subsidiary Paytrail is to acquire fellow e-commerce specialist Checkout Finland from OP Financial. Checkout Finland, serving both ecommerce and physical stores with a wide array of payment options, has around 8,000 ecommerce merchants on its customer list and is expecting close to EUR12m of revenues in 2020, up from a […]
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Deals

Alphabet-backed fintech GoCardless nears $1 billion valuation amid digital payments boom

“British financial technology start-up GoCardless is one step closer to reaching a $1 billion valuation thanks to accelerated demand for digital payments during the coronavirus pandemic…Founded in 2011, GoCardless processes direct debit payments — recurring transactions withdrawn directly from a customer’s bank account for things like subscriptions, invoices and installments — for its business clients.”
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Domains

E-Commerce to Total a Quarter of Global Retail by 2024, GroupM Forecasts

“Online retail sales are expected to reach new heights in 2020, as the global coronavirus pandemic has forced many homebound consumers to shop online. That is not changing anytime soon. E-commerce spending is expected to grow by low-double-digit percentages through the next six years even after the end of social distancing measures forced by the […]
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On The Wires

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Domains

Fast Opens Up Payments Technology to WooCommerce, Enabling One-Click Checkout for Millions of New Online Sellers

“Fast , the world’s fastest online login and checkout experience, today announced a major expansion by making its one-click Fast Checkout product available to the four million e-commerce stores on the WooCommerce platform. When Fast Checkout was released in September, the product was made exclusively available to sellers on the BigCommerce platform. With today’s move […]
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Domains

UnionPay International Launches UnionPay PaybyLink to Help Small and Micro Merchants Start Online Retail

“UnionPay International (UPI) announced today the launch of UnionPay PaybyLink, a link-based payment service, to provide merchants with a minimalist digital sales solution. With this solution, merchants are able to sell their products in just a few minutes by offering online payment service to UnionPay cardholders via means such as SMS and e-mail, without the […]