Affirm’s Revenue up, Though Loss Broadens And Other Digital Transactions News briefs from 8/25/23

Buy now, pay later provider Affirm Inc. posted fiscal fourth quarter revenue of $445.8 million, up 22.4% from $364.1 million in the quarter ended June 30, 2022. Its quarterly loss of $206 million broadened from $186.4 million a year ago. For the full year, Affirm had $1.588 billion in revenue, up 17.7% from $1.349 billion the year prior. Its annual loss of $985.3 million was larger than the $707.4 million loss for fiscal 2022.
POSaBIT Systems Corp., a payments provider specializing in cannabis shops, reported June-quarter revenue of $13.5 million, up 64% year-over-year, on $162.6 million in processing volume, up 26%. Its net loss widened to $1.8 million from a net gain of $400,000.
USAA Federal Savings Bank has joined Nacha as a direct member, bringing to 45 the number of direct members in the operator of the national automated clearing house network.
The Strawhecker Group (TSG), a data provider and consulting firm for the payments industry, introduced TruMonitor, a service that measures the performance of Web sites, application programming interfaces, and multi-step processes among payments firms.
Fraud prevention specialist ClearSale released a new client portal that enables clients to view aggregated fraud data down to the transaction level along with updated data reporting and analysis tools.

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