Uber Money Head Quits As Company Moves Away From Financial Operations

PYMNTS

Uber financial services leader Peter Hazlehurst has stepped down from his position as the rideshare company has put its plan to start a digital wallet on hold, Bloomberg reported. The company is instead focused more on ridesharing and food delivery instead of the planned financial expansions.

Wirecard North America goes on market, while operations allowed to resume in UK

Mobile Payments Today

Wirecard North America officials said the company was looking for a new owner as the multi-billion accounting scandal at the German-based payments firm reverberated across the globe. UK regulators reached agreement to let operations resume there

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California Lets Aurora Operate Driverless Cars

PYMNTS

Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports. The company did not specify when it would allow California passengers in its vehicles.

Will ‘Zombie Companies’ Eat The US Economy?

PYMNTS

Will so-called “zombie companies” soon do the same to parts of the U.S. Zombie companies are those that remain in business but are so deeply in debt that they’ll never catch up. But letting companies load up on debt to survive now might have ripple effects later.

Stablecoins can help companies unlock their operations

Payments Source

Stablecoins, with their instant settlement and high liquidity, averts the issues that have long plagued cross-border transactions. Blockchain Cross border payments Digital payments ISO and agent Cryptocurrencies

WEX Gets $400M From Warburg Pincus To Boost Operations

PYMNTS

WEX has reported a $400 million investment from a partner of Warburg Pincus , which the financial services tech firm will use to continue operations amid the global pandemic, according to a press release. The companies said the fact that the agreement was executed Jan.

Amex Cleared To Operate In China

PYMNTS

The post did not say when Amex would start operations in the country. In November of 2018, Amex got approval to clear card payments by the PBOC , making it the first company of its kind to get access to what will become the largest card network this year.

Lithuania Suspends SatchelPay Operations

PYMNTS

The Bank of Lithuania has suspended the majority of activities of payments company SatchelPay , reports said Tuesday, barring the Lithuanian company from issuing electronic money or providing part of its payment services. The company’s deadline to do so was the beginning of April.

How Customer Reviews Provide Lifeblood For Restaurant Operations

PYMNTS

How Customer Reviews Provide Lifeblood To Restaurant Operations. That focus has only grown amid the takeout- and delivery-only operational shifts due to COVID-19-related social-distancing efforts. Timely responses are easier for some companies than others, however.

Mastercard Selects New President For European Operations

PYMNTS

He will be tasked with developing strategy, direction and comprehensive success of Mastercard’s operations across 53 countries in Europe. He added that he is eager to build on the company’s ideology to “drive new technology and innovation” and to be the “partner of choice.” .

Apple Resumes Operation Of All China Retail Locations

PYMNTS

has reportedly put all of them back into operation. The closures were one of the main reasons the tech company cited for removing its March quarter sales outlook, Bloomberg reported. China is the third-largest market for the tech company.

Caesars To Resume Gaming, Hospitality Operations In Vegas

PYMNTS

The company said that all services will comply with physical distancing guidelines. When those offerings do eventually resume, the company said they will be run “in a manner consistent with physical distancing guidelines.”.

The Struggles of Banks as Technology Companies

Bank Innovation

It's a common refrain from bank CEOs -- "My bank is a technology company." Exclusive Mobile Open Fintech Operations Premium Startups Green Dot JPMorgan Chase Stash UmpquaBut the reality is much rarer.

PPP Resumes Operation, But Delays Continue

PYMNTS

At issue, also, is the fact that many publicly traded, larger companies took money from the PPP the first time around. To remedy that, the SBA introduced new guidelines it says will ensure that companies with large values and access to capital won’t be able to get the money from now on.

PSD2 Creates Turbulence For Travel Operators

PYMNTS

Meanwhile, to help along some of the companies that are still confused about how to comply with GDPR and PSD2, the European Data Protection Board (EDPB) has issued regulatory guidance on the topic.

Amazon Eyes Deal For Stake In Rising Indian Mobile Operator

PYMNTS

The eCommerce company is in the early stages of exploring a deal to take a $2 billion stake in Bharti Airtel , India’s third-largest telecom operator, Reuters reported , citing three sources with knowledge of the talks. based tech companies in Reliance Jo, Bharti’s corporate rival.

Careem Concludes Operations In Sudan

PYMNTS

Less than a year after the ride-hailing company rolled out in Sudan, Careem has concluded its operations in the country, with a planned takeover by Uber on the horizon. Not many global companies have come into Sudan following the lifting of economic sanctions by the United States.

Restaurant Operators On Life Before, During And After COVID-19

PYMNTS

Restaurants are tough businesses to operate, even in the best of times — 60 percent fail within their first year, and 80 percent within their first five. The company has been forced to shutter its doors. He has also seen his company’s customer base largely disappear.

JPMorgan Consolidates SMB, Enterprise Payment Operations

PYMNTS

JPMorgan Chase is planning the consolidation its corporate payment operations by combining small business (SMB) and large enterprise solutions, the Financial Times ( FT ) reported on Thursday (Jan.

For US Companies and Markets, Relief Rallies Now – Zombies Later?

PYMNTS

Will so-called “zombie companies” soon do the same to parts of the U.S. Zombie companies are those that remain in business but are so deeply in debt that they’ll never catch up. But letting companies load up on debt to survive now might have ripple effects later.

Amazon Prime Day Set For September As Operations Stabilize

PYMNTS

Now, Amazon is taking steps to get operations back on an even keel, according to The Wall Street Journal. The company is set to reschedule its Prime Day for the fall, and plans to resume unlimited shipments of nonessential goods to warehouses.

Aussie FinTech 3Pay Launches Invoice Finance Operations

PYMNTS

Australian FinTech 3Pay has launched operations, connecting businesses to an invoice financing solution designed to support cash flow and prevent small businesses from being placed on hold by their B2B suppliers.

B2B payments companies seek growth amid pandemic  

Bank Innovation

Despite the current economic uncertainty resulting from COVID-19, some business-to-business payment companies are gaining traction with clients and investors alike. “Our Our solution is even more relevant today than it was four weeks ago,” said Sameer Gulati, chief operating officer of the payments company Plastiq.

On-Demand Delivery Service Munchery Ceases Operations

PYMNTS

Since 2010, we have been committed to bringing fresh, local, and delicious meals into your homes along with all our customers across the country,” the company wrote in the e-mail announcement, according to reports. “We’ve

Reimagining The Bank As A Technology Company

PYMNTS

Intimidated by the scale and cost of a massive technological overhaul, large financial institutions (FIs) may approach their digital transformation (DX) journeys gradually, targeting various areas of operations to modernize one-by-one.

UBS Appoints New Head Of EU Operations

PYMNTS

Swiss Bank UBS has announced that it has hired a new CEO of European Union operations, according to a report by Reuters. . arm of the company recently rolled out a new suite of commercial card products for its small to medium-sized business (SMB) customers.

Forrester finds financial companies top retailers in customer experience

Bank Innovation

Daily Post 3 Exclusive Operations & Best Practices Retail Banking Forrester Goldman Sachs Marcus Navy FEderal QVC USAA ZapposAlthough banks are not known for exceptional customer service, a Forrester Research survey released this week shows they’re making progress.

FinTech Companies Powering Seamless and Invisible Small Business Operations

Let's Talk Payments

99.7% of all businesses in the US are small businesses Small businesses present a strong community-building and economy-driving force in any nation. Furthermore, countries that created the most business-friendly regulatory. Fintech Insights Asia BodeTree Europe Holvi insights Quickbooks US Wave Zoh

Ready Or Not, Faster Payments Will Impact Corporate Operations

PYMNTS

“We are seeing, what I think is, an unprecedented amount of change that is being proposed and introduced in terms of [payment] operations,” he told PYMNTS in a recent interview, emphasizing that his remarks are his personal viewpoints, and not those of WesPay or the Center for Payments.

Restaurant Operator Blames Bankruptcy On Wage Hike

PYMNTS

an eatery operator with 35 restaurants, has filed for bankruptcy and is blaming the misfortune on a recent minimum wage hike in court filings, according to a report by Bloomberg. The company filed for bankruptcy protection on Sunday (July 7) in Delaware. Restaurant Unlimited Inc.,

Sinemia Shuts Down U.S. Operations Amid Lawsuits

PYMNTS

operations. The company, which had been making plan changes and canceling accounts, is now shutting down amid legal proceedings including a patent lawsuit filed by MoviePass. In a letter on its webpage, Sinemia said it was ending operations in the U.S.

PBOC Approves Amex Application To Operate In China

PYMNTS

The post did not say when Amex would start operations in the country. In November of 2018, Amex got approval to clear card payments by the PBOC , making it the first company of its kind to get access to what will become the largest card network this year.

Payments Company Worldpay Partners with Klarna on Invoicing Feature

Bank Innovation

Payments company Worldpay is partnering with Swedish payments services provider Klarna on enabling users to make invoice and credit based payments at point-of-sale checkouts.

Following Brexit, N26 Will No Longer Operate In The UK

PYMNTS

FinTech bank N26 , based in Germany, will no longer operate in the U.K. The timings and framework outlined in the EU Withdrawal Agreement mean that the company will, in due course, be unable to operate in the U.K.

Link, ATM Operator Face Potential Court Fight

PYMNTS

NoteMachine , one of the biggest ATM operators in the U.K., A Link spokesman declined to comment on the fight with NoteMachine , but Link chief operating officer Sue Wallace wrote in an email seen by The Financial Times that the company “strongly” rejects the contention. “It