Electronic Payments

DLocal Posts Record Q1, Fifth Consecutive 100%+ Revenue Growth Quarter

Edward Kim | |

Rapidly growing emerging markets payments company.

PayPal and Fiserv Partner To Enable Businesses To Send Payments to Digital Wallets

Kimberly Redmond | |

PayPal Holdings and Fiserv Inc have teamed up expand digital payout options to enable businesses to send money directly to digital wallets.

On Wednesday, the fintech companies announced a new partnership that will offer companies a fast, easy and cost-effective way to send money to the over 400 million active accounts on the PayPal and Venmo platforms via Fiserv’s Carat service.

PayPal Partners With Anti-Defamation League To Disrupt Financing of Extremist and Hate Movements

Kimberly Redmond | |

PayPal Holdings Inc (Nasdaq: PYPL) is partnering with the Anti-Defamation League (ADL) to investigate how extremist and hate movements in the US take advantage of financial platforms to fund criminal activities.

The initiative, which will be led by ADL’s Center on Extremism, seeks to uncover and disrupt the financial flows supporting white supremacist and anti-government groups, according to a press release issued Monday.

PayPal Launches 'Checkout With Crypto' Feature for US Consumers

Kimberly Redmond | |

PayPal Holdings Inc announced Tuesday it has begun rolling out a feature across the US that will let consumers use cryptocurrency to pay at millions of the platform’s online merchants.

Now, customers who hold bitcoin, Ethereum, Litecoin or bitcoin cash in their PayPal digital wallets will be able to instantly convert it into fiat currencies at checkout to complete purchases safely and securely, according to PayPal.

Visa To Accept Payment Settlements Using Cryptocurrency

Kimberly Redmond | |

Visa Inc announced Monday that it will allow the use of cryptocurrency to settle transactions on its payment network.

The financial services giant said that transactions can be settled using USD coin (USDC), an Ethereum-based stablecoin backed by the US dollar. Visa has launched a pilot program with crypto platform and Anchorage Digital Bank, the first federally chartered digital asset bank.

Stripe Raises Additional $600 Million at $95 Billion Valuation

Reuters | |

Digital payments giant Stripe’s value soared to $95 billion after it capitalized on a boom in ecommerce with a round of funding that pushed it past Elon Musk’s SpaceX as the most valuable U.S. startup.

Founded in 2010 by Patrick and John Collison when the Irish brothers were barely out of their teens, Stripe is used by more than 50 companies each processing over $1 billion annually to receive payments and bill customers.

PayPal Not Likely To Invest in Cryptocurrencies

Reuters | |

PayPal Holdings Inc is not likely to buy cryptocurrencies such as bitcoin, the payments processor’s Chief Financial Officer John Rainey told CNBC on Thursday.

“We’re not going to invest corporate cash, probably, in sort of financial assets like that, but we want to capitalize on this growth opportunity that’s in front of us” Rainey said in a CNBC interview.

Mastercard To Offer Support for Some Cryptocurrencies on Its Network in 2021

Reuters | |

Mastercard Inc said on Wednesday it was planning to offer support for some cryptocurrencies on its network this year, joining a string of big-ticket firms that have pledged similar support.

The credit-card giant’s announcement comes days after Elon Musk’s Tesla Inc revealed it had purchased $1.5 billion of bitcoin and would soon accept it as a form of payment.

PayPal Blocks Crowdfunding Site GiveSendGo After It Helped Raise Funds for Capitol Rioters

Reuters | |

PayPal Holdings Inc said late on Monday it had blocked a Christian crowdfunding site, GiveSendGo, after it helped raise funds for people who attended last week’s event in Washington when supporters of President Donald Trump stormed the Capitol.

The digital payments processor also confirmed to Reuters that it closed an account held by Ali Alexander, one of the organizers of the gathering. The news was reported earlier by Bloomberg, which cited an unidentified source.

Online platforms and social media companies are distancing themselves from, and taking action against, those that encouraged or engaged in last week’s violence in the U.S. Capitol.

Bill Foley-Backed SPAC Nears Deal To Acquire Paysafe, Valuing Payments Company at $9 Billion

Reuters | |

A blank-check acquisition firm backed by veteran investor Bill Foley is nearing a deal to merge with Paysafe, valuing the payments company at around $9 billion, including debt, people familiar with the matter said on Sunday.

Paysafe’s merger with Foley Trasimene Acquisition Corp II will result in the London-based company listing in New York, according to the sources.

Paysafe’s current owners, private equity firms Blackstone Group Inc and CVC Capital Partners, will retain a significant interest in the company following the merger, the sources said. The deal could be announced by Monday.

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