Buy now, pay later specialist Affirm Holdings Inc. continues to expand into fashion merchants through a partnership with online fashion-marketplace StockX. Apparel merchants are a fast-growing merchant category for Affirm. The BNPL provider has added 55 apparel sellers in the past six months, including StockX. In addition, transactions in its apparel and …
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With e-commerce sales accounting for 16.4% of all U.S. retail sales in the fourth quarter, Wildfire Systems Inc. is hoping its new white-label shopping portal will enable more merchants to take advantage of the shopping channel. In related news, retailer Best Buy Canada will use PingPong as its first cross-border payment …
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American Express Co. has acquired software developer Center. Terms of the deal, announced late Thursday, were not disclosed. The acquisition is expected to close in the second quarter. The deal will provide AmEx’s corporate and small-business cardholders with an integrated expense-management platform that delivers real-time visibility into all employee spending, …
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Stripe Inc. has doubled its office space in Chicago, leasing more than 44,000 additional square feet on the fifth floor of a building in the city’s River North neighborhood and bringing its total space to about 89,000 square feet, according to Crain’s Chicago Business. Business-technology provider Globant announced it has developed systems for …
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E-commerce fraud prevention specialist Riskified has launched Adaptive Checkout, an app created to drive higher conversion rates by reducing false positives. The app leverages artificial intelligence to analyze each transaction based on its risk profile and the shopper’s purchase history. For example, a merchant’s best customers can be sent straight …
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The U.S. Senate on Wednesday voted 51-47 to scrub a regulation issued in November by the Consumer Financial Protection Bureau and aimed at mobile wallets and digital money transfers. The repeal legislation, which now moves to the House of Representatives, comes as major payment-app developers like Apple Inc., Block Inc., …
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Processor Priority Technology Holdings reported fourth-quarter 2024 revenue of $$227.1 million, up 13.9% year-over-year. Revenue for the year totaled $879.7 million, up 16.4% over 2023. The company’s net income swung to a positive $7.2 million for the quarter from a $106,000 loss a year earlier. For the full year, net income was …
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The Consumer Financial Protection Bureau late Tuesday dropped its lawsuit against Early Warning Services LLC, operator of the Zelle person-to-person payments network. The suit had also named Bank of America, JPMorgan Chase, and Wells Fargo as defendants. The financial institutions are three of the seven bank owners of Early Warning. …
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Online-checkout provider Skipify Inc. is adopting tokenization technology from Discover Global Network to ease checkouts for Discover cardholders. Tokenization replaces a consumer’s actual credit or debit card number with 16 other digits, which can help improve conversion rates for merchants and improve shopper satisfaction. San Francisco-based Skipify says the early …
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The Federal Reserve announced its FedNow real-time payments network this summer will raise its transaction limit to $1 million from $500,000. FedNow was launched in 2023. Kasheesh Inc. launched a loyalty program called Kasheesh Rewards, aimed at letting users earn rewards based on spending. Kasheesh’s platform allows users to split transactions across credit, debit, and …
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