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Cross River scores $620m funding round

/retail

Cross River scores $620m funding round

Cross River, a US provider of core infrastructure and embedded technology to fintech and crypto companies, has raised $620 million in a round co-led by Eldridge and Andreessen Horowitz.

Paystand launches business expense card with bitcoin rewards

/crypto

Paystand launches business expense card with bitcoin rewards

Blockchain-enabled B2B payments specialist Paystand has unveiled a corporate expense card with native cryptocurrency rewards.

Jeeves quadruples valuation to $2.1 billion

/payments

Jeeves quadruples valuation to $2.1 billion

Jeeves, the all-in-one corporate card and expense management platform for global startups, has raised a $180 million Series C at a valuation of $2.1 billion.

EPI abandons plan for Visa and Mastercard rival as member banks quit

/payments

EPI abandons plan for Visa and Mastercard rival as member banks quit

The European Payments Initiative has given up on its effort to build a rival to Mastercard and Visa in Europe after more than half its members left.

Corporate card startup Ramp hits $8.1bn valuation

/startups

Corporate card startup Ramp hits $8.1bn valuation

Fast-growing finance automation and corporate credit card startup Ramp has hit a $8.1 billion valuation after closing a $200 million funding round led by Founders Fund.

Mastercard partners HSBC to bring new B2B payments option to the UK

/payments

Mastercard partners HSBC to bring new B2B payments option to the UK

Mastercard has partnered HSBC to launch a product in the UK that allows businesses to use their commercial card programme to make payments to any supplier, regardless of whether the supplier accepts card payments.

EBAday 2022: Why 2022 will be the year digital payments dominate

/payments

EBAday 2022: Why 2022 will be the year digital payments dominate

Technical advancements that emerge throughout 2022 will bolster uptake of digital payments brought about by the pandemic, with new trends such as buy-now-pay-later (BNPL) and heavy use of digital wallets likely to become mainstream.

Contactless payments soar as limit increase takes effect

/payments

Contactless payments soar as limit increase takes effect

The lifting of the limit on contactless payments to £100 in the UK has led to a surge in tap-and-pay transactions, as consumers use the touchless checkout method to pay for higher value items.

7-Eleven stores in Japan trial holographic payment terminal

/payments

7-Eleven stores in Japan trial holographic payment terminal

Customers at six 7-Eleven stores in Japan can now make contactless payments using a holographic screen projected from the self-checkout terminal.

Online retailers warned of lost sales as SCA comes into effect

/security

Online retailers warned of lost sales as SCA comes into effect

Online retailers are being warned to be prepared for the introduction of Strong Customer Authentication (SCA), the biggest change to payments since Chip & Pin rolled out 16 years ago.

Revolut raises €10 million for Red Cross Ukraine appeal

/payments

Revolut raises €10 million for Red Cross Ukraine appeal

Launched on the 25th February, Revolut enabled millions of its customers worldwide to instantly donate to the Red Cross Ukraine Appeal, targeted at supporting victims of the war in Ukraine. The €10 million was raised through donations of Revolut customers, which were then matched by Revolut itself.

Curve lands in the US

/payments

Curve lands in the US

London-based fintech Curve has launched in the US, offering Americans the option to combine all their debit, credit and loyalty cards into one.

Mastercard class action suit moves closer to trial as billions more pounds added to claim

/payments

Mastercard class action suit moves closer to trial as billions more pounds added to claim

A £14 billion class action lawsuit against Mastercard interchange fees has moved a step closer to trial with an additional £2.7 billion added to the claim following the latest judgement by the UK's Competition Appeal Tribunal.

Forty percent of Amex staff choose to go virtual

/people

Forty percent of Amex staff choose to go virtual

Up to 40% of American Express employees have chosen to go completely virtual under the card scheme's flexible working model.

Italian banking platform for micro entrepreneurs launches

/startups

Italian banking platform for micro entrepreneurs launches

A new digital banking platform is launching in Italy to help micro enterprises and the self-employed with their administration and financial management.

Citi Commercial Cards picks Marqeta for mobile wallet offering

/payments

Citi Commercial Cards picks Marqeta for mobile wallet offering

Citi Commercial Cards has selected Marqeta's tokenisation technology to power its global mobile wallet offering.

Merchants bid to block looming interchange fee hikes

/payments

Merchants bid to block looming interchange fee hikes

The Merchants Payments Coalition is calling on US politicians to block Visa and Mastercard interchange fee hikes that are set to take effect in April.

Mastercard invests in Zeta

/startups

Mastercard invests in Zeta

Mastercard has joined a $30 million funding round in credit card processing vendor Zeta and signed a five-year go-to-market deal with the startup.

PayPal, Mastercard, Visa, Amex suspend all services in Russia

/payments

PayPal, Mastercard, Visa, Amex suspend all services in Russia

PayPal and each of the major card schemes have shut down all services in Russia in an escalation of financial sanctions that go beyond just targeted banks.

Oz business banking startup Zeller hits A$1bn valuation

/startups

Oz business banking startup Zeller hits A$1bn valuation

Australian business banking startup Zeller has hit a A$1 billion valuation thanks to a A$100 million Series B funding round led by Headline.

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