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Office space
WeWork will accept cryptocurrency from clients to pay for membership and to make payments to building landlords and vendors when possible.
Coinbase will be the first WeWork member to use crypto to pay its membership, reports
WeWork's announcement closely follows billionaire real estate manager
Green day
Numerous financial institutions have made carbon reduction goals over the past couple of months, with Visa this week saying it achieved carbon neutrality in 2020 and has set a goal to reach net-zero emissions by 2040. In another announcement tied to Earth Day, CPI Card Group said Unifi Money will offer cards with a core made from recovered plastic.
That follows
Among other recent environmental pledges,
Also this week, more than 40 banks have joined a UN effort called the Net-Zero Banking Alliance to align lending and investment portfolios with net-zero emissions by 2050. The banks include Barclays and Citigroup and cover 23 countries totalling $28 trillion in assets.
Speed bump
Special purpose acquisition companies, or SPACs, have grown quickly this year across all categories, including
But the Securities and Exchange Commission has issued accounting guidance that, if it becomes law, could require deals in the pipeline to recalculate financial information in disclosure documents, reports
The number of new SPAC deals in April is lower than March, though the year to date SPAC deals are still more than any other full year.
Payday
The YC Continuity Fund has led a $156 million series C round in Deel, a payroll company that offers single-click salary payments in more than 120 currencies.
The funding, which included Andreessen Horowitz and Spark Capital, values Deel at $1.25 billion. MIT alumni Alex Bouaziz and Shuo Wang founded Deel in 2018.
The company, which consolidates payments with hiring and HR onboarding, has found added demand during
Name change
Payment technology firm Fattmerchant is rebranding as Stax, corresponding with a redesign of its user interface for its desktop app and a new mobile app.
The new name is meant to position the Orlando-based company as a broader provider of embedded payments, with several Stax-branded products addressing different functions for small businesses, large businesses and a SaaS platform.
Fattmerchant launched in 2014, charging merchants on a
From the web
THE WALL STREET JOURNAL | Wednesday, April 21, 2021
The retailer has been phasing out automated pickup towers for online orders as curbside services have become popular.
TECHCRUNCH | Thursday, April 22, 2021
Coinswitch Kuber, a startup that allows young users in India to invest in cryptocurrencies, said on Thursday it has raised $25 million in a new financing round as it looks to expand its reach in India, the world’s second largest internet market and also the place where the future of private cryptocurrencies remains uncertain for now.
REUTERS | Wednesday, April 21, 2021
Brazilian financial startup PicPay has filed with the U.S. Securities and Exchange Commission for an initial public offering on Nasdaq, according to a Wednesday filing.
More from PaymentsSource
Changing payment habits and two rounds of stimulus funds helped drive Discover Financial Services' profitability in the first quarter of 2021.
The New York bank, which holds deposits for the stablecoin firm Circle and enables payments for the smart contract provider GreenBox, wants to provide loans to crypto firms as well.
Accounts payable is one of the most paper-intensive business functions, with lots of room for more environmentally sound processing, says Medius' Daniel Ball.
Coinbase's public listing came quickly on the heels of the ride-sharing app Grab announcing plans to go public through a deal that could value it at nearly $40 billion. They're just two examples of companies taking advantage of the past year's rush to digital payments to raise billions in the stock market.
Payments technology provider FIS is expanding its processing services into the growing markets of Malaysia, South Africa and Nigeria.
Citi’s commercial banking clients may eliminate more checks by sending funds directly to consumers’ debit or prepaid card accounts through an integration with Mastercard Send.
Two years after the country laid out plans for an instant-payments service backed by Saudi Arabia’s central bank, the project has gone live through a collaboration with Mastercard’s Vocalink and IBM.
Most industries and businesses continue to face a number of challenges, some carried over from 2020 and others new to 2021. The payments industry is no exception to this. In difficult times it is even more important to understand our key challenges, so we are able to manage and overcome them.
Banks face increasing competition from fintechs, third-party lenders and large technology companies as customer demands evolve, says Mastercard's Fabrizio Burlando.
Cardholders get a discount, but anyone can use the issuer's new airport lounge — even kids.
Through the launch of Apple Card Family, consumers can now combine credit lines to better build a credit history, while parents can build in guidelines for younger card users in the family.
Venmo may be slow to add cryptocurrency support behind Visa, Mastercard and even its parent company, PayPal — but it serves a younger and more tech-savvy audience that may be more willing to use digital currencies for payments.
Chargebee, a startup that helps enterprises with subscription billing and revenue management, raised $125 million in funding and boosted its valuation to $1.4 billion, reaching so-called unicorn status for the first time.
Comdata has launched Fintwist OnDemand to provide instant earned wage access services to working adults amid an increasingly crowded market for faster payroll payments.
Top executives from the 49 companies that earned a spot in this year's ranking of the Best Fintechs to Work For cite the need for nimble shifts in business strategy, leadership style and recruiting tactics among the lessons they took away from the challenges of the coronavirus crisis.
