News

February, 2025

• 11 February

  A Less Active CFPB Is Expected After the Bureau’s Temporary Shutdown

  

  A subdued Consumer Financial Protection Bureau is likely to emerge in the wake of the order issued over the weekend to close its offices for the week and have employees work remotely during that period. Acting CFPB director Russell Vought, director of the United States Office of Management and Budget, …
• 11 February

  Worldpay Is Doing Well, But It’s Not a ‘Growth Driver’ for FIS, Execs Say

  

  Top executives at FIS Inc. early Tuesday reported accelerating revenue in 2024 and see that momentum carrying into the new year, but the energy appears to be coming from financial technologies apart from the big Worldpay merchant-processing platform. “Worldpay has not been a growth driver in 2024, and won’t be …
• 11 February

  Paysafe Offloads Part of its Business and other Digital Transactions News briefs from 2/11/25

  

  Paysafe Ltd. has agreed to sell its direct marketing payment processing business, including reseller and merchant contracts, to Kort Payments, a company run by Joel Leonoff, Paysafe’s founder and former chief executive. Terms were not announced. Paysafe said this business “consists of direct marketing and other card-not-present volume in both complex …
• 10 February

  BNY Sends the Largest Payment So Far Over the 8-Year-Old RTP Network

  

  BNY, formerly the Bank of New York Mellon Corp., early on Monday completed a $10 million transaction over the RTP Network, a record payment for the instant-payments system, which launched in 2017. The transaction, an inter-company liquidity-management payment from BNY client Computershare to an account at another financial institution, is …
• 10 February

  Eye on BNPL: Affirm’s Toothy Win; Gateway Adds Klarna Integration

  

  Coast Dental, a dental practice with 100 locations in Florida, Georgia, and Texas, added Affirm’s buy now, pay later payment options. In related news, Decta Ltd., a United Kingdom-based fintech, has integrated Klarna AB’s BNPL service into its white-label payment gateway. Tampa, Fla.-based Coast Dental says the Affirm payment option …
• 10 February

  Square’s Funny Restaurant Pitch and other Digital Transactions News briefs from 2/10/25

  

  Acquirer Square released a new video series called “Running a Restaurant Is No Joke” that uses humor to highlight how Square can help restaurant operators. Now live on Square’s Web site, the series also will appear in various media and social outlets. RedotPay, a digital-currency payments platform, said it is working with …
• 7 February

  Paysafe’s Shares Climb As Wall Street Buzzes With Takeover Talk

  

  Paysafe Ltd., one of the world’s largest payments processors, has developed a highly sophisticated stake in online gaming, but lately the odds may favor a change in ownership for the publicly held London-based company, according to industry speculation. News emerged late Thursday that the company’s current valuation–$1.4 billion, down from …
• 7 February

  Judge Grants More Banks Relief from Illinois Interchange Law, But Stops Short of Going All the Way

  

  U.S. District Court Judge Virginia Kendell extended the injunction against Illinois’s pending interchange law late Thursday to include more financial institutions but stopped short of providing blanket relief from the law for all financial institutions and the card networks. Kendall, a judge in the Northern District of Illinois, ruled that …
• 7 February

  Affirm Revenue up 47% and other Digital Transactions News briefs from 2/7/25

  

  Buy now, pay later specialist Affirm Holdings Inc. reported $866.4 million in revenue for its fiscal second quarter ending Dec. 31, up 46.4% from $591.1 million in the year prior quarter. With a profit of $80.4 million, Affirm reversed last year’s quarterly loss of $166.9 million. Among other metrics for the quarter, …
• 6 February

  Evolv Partners With United Bankers Bank, While Deluxe Posts 2024 Earnings

  

  Evolv Inc. has partnered with United Bankers Bank to provide a merchant-services program to UBB’s community-bank customers. The deal is expected to advance innovative payment solutions across the financial institutions served by United Bakers Bank, according to Evolv and UBB. The services will make up a “concierge-style, white-glove” merchant-services program …