An Asian-American businesswoman named Nisha Desai has sued PayPal Holdings Inc. on grounds of racial discrimination, alleging the company restricted some of a $535-million investment commitment to Black and Hispanic candidates. The suit, filed in U.S. District Court for the Southern District of New York, asks for unspecified damages and an order …
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The Internal Revenue Service will begin requiring peer-to-peer payment apps in 2025 to issue 1099-K statements to self-employed workers who received more than $5,000 in payments through those apps in 2024. The new requirement, which is being implemented after a two-year delay, applies to such P2P apps as PayPal, Venmo, …
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Meta Platform’s WhatsApp payments service has been permitted by the National Payments Corp. of India, a regulatory body, to roll out WhatsApp Pay to its entire user base of 500 million in that country. Meta formerly was known as Facebook. GasBuddy, which offers a payments card featuring discounts on gasoline, forecasts the …
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The outlook for payments in 2025 will be rife with open finance, instant payments, multi-rail payments, interchange questions, and the increasing use of artificial intelligence, observers suggest. The top three payments trends next year will be open finance, instant payments adoption, and point-of-sale innovations, says Capgemini Research Institute in its …
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Zelle, the peer-to-peer payments service from Early Warning Services LLC, will put the detective powers of its S.A.F.E. Squad to work again with the help of actor Christina Ricci in a new education campaign on fraud and scams. This is the second year of the campaign and Ricci’s participation. This …
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Google Inc. has sued the Consumer Financial Protection Bureau following the CFPB’s action Friday asserting federal supervision of the company’s Google Pay wallet. In the suit, filed in U.S. District Court in Washington, D.C., the same day the CFPB acted, the tech giant argues the case targets a payment service …
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Financial firms live and die by their reputation. While we know that, with credit unions, insurance companies, and holding companies, the result of a cyberattack could mean funding challenges, reputational damage, and even insolvency, what many don’t know is that, today, around 70% of business risks enter through an endpoint …
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OwlTing Group, a blockchain-technology company, is working with MoneyGram International Inc. to support cash-in transactions from local fiat currencies to USD Coin in its OwlPay Wallet Pro service at nearly 50,000 MoneyGram locations in 30 countries. OwlPay Wallet Pro is a blockchain-based, unhosted digital wallet that enables cross-border transactions. USD Coin is …
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Online sales continued to surge on Cyber Monday, totaling $13.3 billion and up 7.3% from Cyber Monday last year, according to Adobe Digital Insights. During the peak shopping hours of 8 p.m. to 10 p.m., consumers spent $15.8 million per minute. Cyber Monday capped a strong five-day sales period from …
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Online shoppers spent a record $10.8 billion on Black Friday, a 10.2% increase from a year ago, according to preliminary data from Adobe Digital Insights. Online shoppers were especially active between 10 a.m. and 2 p.m. on Friday, spending $11.3 million per minute during that period. Products seeing the strongest …
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