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Brex axes 20% of staff

/people

Brex axes 20% of staff

Corporate spend management giant Brex has laid off 282 people (20% of its workforce) and revealed that its COO and CTO are leaving their roles.

Commerzbank and Global Payments form payments joint venture for SMEs

/payments

Commerzbank and Global Payments form payments joint venture for SMEs

Global Payments and Commerzbank are to launch a joint venture company catering to the digital payment needs of small and medium sized enterprise in germany.

Swiss payments fintech Rivero raises $7 million

/payments

Swiss payments fintech Rivero raises $7 million

Swiss payment technology house Rivero has raised $7 million in Series A funding to step into new markets and boost its product development and workforce.

EBL to launch 'world-first' biometric metal card

/security

EBL to launch 'world-first' biometric metal card

Eastern Bank in Bangladesh is launching what it claims is the world's first biometric metal card for premium customers.

Visa expands Fintech Fast Track programme

/payments

Visa expands Fintech Fast Track programme

Visa is expanding its North America Fintech Fast Track programme beyond card issuance to connect members to its real-time money movement platform.

Apple, Visa and Mastercard face anti-trust class action lawsuit

/payments

Apple, Visa and Mastercard face anti-trust class action lawsuit

Apple, Visa and Mastercard are facing a class action lawsuit over allegations that they conspired to suppress competition in the market for point-of-sale payment card services.

UK payments watchdog proposes cap on interchange fees

/payments

UK payments watchdog proposes cap on interchange fees

The Payment Systems Regulator is propsing to cap cross-border interchange fees on credit and debit cards to protect UK businesses from rising costs.

JCB to begin Phase 2 trials of offline CBDC

/payments

JCB to begin Phase 2 trials of offline CBDC

Japanese card issuer JCB is moving to Phase 2 of a pilot to trial offline P2P payments for a central bank digital currency (CBDC).

Motive acquires controlling stake in Splitit Payments

/payments

Motive acquires controlling stake in Splitit Payments

Private equity firm Motive Partners has acquired a controlling stake in Australian-listed BNPL outfit Splitit Payments.

Paymentology hires former Marqeta exec Jeff Parker as CEO

/people

Paymentology hires former Marqeta exec Jeff Parker as CEO

Global card issuer and processor Paymentology has hired Jeff Parker, the former SVP and managing director of Marqueta, as its new CEO.

Intesa Sanpaolo rolls out contactless payment ring

/payments

Intesa Sanpaolo rolls out contactless payment ring

Intesa Sanpaolo is launching a wearable payment ring for customers to tap and pay at the checkout.

Visa and Mastercard lower Canadian interchange fees

/payments

Visa and Mastercard lower Canadian interchange fees

Canada has finalised a deal with Visa and Mastercard to lower credit card interchange fees for small businesses.

Adyen to act as global acquiring bank for Klarna

/payments

Adyen to act as global acquiring bank for Klarna

Buy now pay later giant Klarna has selected Adyen as a global acquiring partner, responsible for collecting card-based payments from customers and their banks, and then delivering them to retailers and merchants - both in-person and online.

Standard Chartered rolls out BNPL option to consumers across Apac

/payments

Standard Chartered rolls out BNPL option to consumers across Apac

Standard Chartered is rolling out online and instore buy now, pay later options for credit cardholders across Asia Pacific.

Visa joins €8.5 million funding round in Enfuce

/payments

Visa joins €8.5 million funding round in Enfuce

Visa has joined an €8.5 million funding round in female-founded Finnish card issuer and payment processor Enfuce.

Apple and Goldman Sachs set for breakup - WSJ

/payments

Apple and Goldman Sachs set for breakup - WSJ

Apple has sent a proposal to Goldman Sachs that would end the credit card and savings account partnership that the banking giant has been seeking to get out of, according to the Wall Street Journal.

PaymentSense eyes Irish money licence

/payments

PaymentSense eyes Irish money licence

Ireland's payments sector looks set for increased competition following reports that UK-based PaymentSense plans to apply to the Central Bank for an e-money licence.

UK should tap open banking to take on card schemes - govt-commissioned review

/payments

UK should tap open banking to take on card schemes - govt-commissioned review

The UK should use open banking to provide retailers with an alternative to card payments and to improve "clunky" P2P bank transfers, says a new government-commissioned review.

Mastercard gets green light for domestic payments processing in China

/regulation

Mastercard gets green light for domestic payments processing in China

Mastercard has finally secured formal approval to begin domestic payment processing in China, enabling the US firm to issue yuan-denominated banks cards in the country.

Credit fintech Petal seeks buyer - report

/payments

Credit fintech Petal seeks buyer - report

US credit fintech Petal has put itself up for sale amid Walls Street concerns about its ability to survive, according to Fortune.

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