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- The Libra Association, the organization behind the Libra cryptocurrency project, said it is renaming itself Diem, Latin for “day.” Acknowledging pressure from governments and regulators worldwide, the association this spring changed course on several key strategies, setting out new plans for single-currency stablecoins and a stronger compliance regime.
- Commerce platform Shopify Inc. said its merchants had $5.1 billion in sales globally for the Black Friday and Cyber Monday weekend. That is 76% more than the $2.9 billion for the same weekend in 2019. Among its U.S. data, Shopify said the average time to checkout was 26 minutes, faster than 2019’s average of 27 minutes. The average ticket of $89.20 was up from $79.80 last year.
- Buy now, pay later provider Klarna Bank AB appointed Michael Moritz chairman of the company’s board, replacing current chairman Jon Kamaluddin, who has resigned. Moritz is a partner at Sequoia Capital.
- In related news, outdoor-equipment retailer Sail Outdoors Inc. is offering a buy now, pay later payment option through PayBright Inc.
- Payments provider InComm Payments said it has worked with mobile point-of-sale technology provider Novo Dia Group to allow benefit cards from InComm Healthcare to be accepted at 1,500 farmers markets across the United States.
- Payrailz, a payments provider for banks and credit unions, said its credit union service organization, CU Railz, has grown to 13 members from six and has raised $15 million in investments.
- Everyware Inc., a provider of billing and payments via text messaging, has launched Text to Give, a campaign to promote donations on Giving Tuesday, Dec. 1.
- ACI Worldwide Inc. announced Credit Union Loan Source has adopted ACI Speedpay to enable bill payments via mobile wallet. ACI acquired Speedpay in 2019 from The Western Union Co.
- First American Payment Systems named Chuck Springer vice president of information security and compliance. Springer’s prior positions include stints at Epsilon, GameStop, and Armor.
- The Electronic Transactions Association named Max Behlke director of state government affairs. His previous experience includes time at the National Conference of State Legislatures.
- Mastercard Inc. appointed Richard Verma executive vice president for global public policy and regulatory affairs. Verma has held positions at The Asia Group and is a former U.S. ambassador to India and former assistant secretary of state for legislative affairs.
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