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.

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.

Gearing Up New Operations

Independent Banker

When Leto took the executive helm last year of Bryn Mawr Trust’s parent company, it was operating a very small insurance agency that was hardly making money. “We The bank’s executives approached another local insurance company they knew well, Robert J.

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.

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.

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.

Boost efficiency through operational innovation in financial services

Insights on Business

Operational innovation is vital in a highly competitive financial services sector, with a new community of digital banks and other firms vying for market share. Drivers for Operational Innovation. People are at the heart of any financial operation.

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

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.

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.

London’s Paysend Licensed To Operate In Canada

PYMNTS

has received a license to operate in Canada in a move that will expand the company’s global reach, according to reports. The company said it is successful because of an increasingly mobile workforce and an increase of international migrants. Paysend , a FinTech out of the U.K.,

Mastercard Names New President Of Canadian Operations

PYMNTS

Mastercard announced on Thursday (May 30) the appointment of Sasha Krstic as president of the company’s Canadian operations. She replaces Brian Lang, who is leaving the company to pursue a new opportunity, Mastercard said in the press release. “I

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

Walmart Promotes John Furner To President, CEO Of U.S. Operations

PYMNTS

John knows our business well, having held many different jobs in the company over more than 25 years, and he is helping transform it for the future. Walmart has announced the departure of Greg Foran , president and CEO of Walmart U.S.

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

Snap Lets Select Accounts Operate In-App Stores

PYMNTS

Snap , the maker of the disappearing messaging app Snapchat, is rolling out new tools to enable select accounts to operate a store within Snapchat.

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.

Mastercard Names New President For Canadian Operations

PYMNTS

Mastercard, the payments company, announced Thursday (May 30) the appointment of Sasha Krstic as president for the company’s Canadian operations. She replaces Brian Lang who is leaving the company to pursue a new opportunity, Mastercard said in the press release. “I

US Treasury: Taxes On Digital Companies Are Discriminatory

PYMNTS

Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. After a European Union plan for tax reform fell apart, France, along with Britain, Italy and Spain, are moving forward with plans to tax companies like Google and Apple.

Taxes 217

Bain Capital Hires Keri Gohman As An Operating Partner

PYMNTS

Bain Capital Ventures announced it has hired FinTech industry veteran Keri Gohman as an operating partner. The company’s most recent investments include Finix, Harness Wealth, SmartRent and Ribbon, as well as follow-on investments in Acorns, Flywire, IEX and OpenFin. “It’s

Investors Upbeat On Shopify’s ‘Global Retail Operating System’

PYMNTS

COO Harley Finkelstein, in a post-earnings interview with MarketWatch , said that strong outcomes were seen across the board from the firm’s efforts to transform itself from a software platform for digital and physical retail into “the first global retail operating system.”.

Eddie Bauer And Pacific Sunwear Combined In New Operating Company

PYMNTS

After news surfaced in May that Golden Gate Capital was considering a merger of Eddie Bauer and Pacific Sunwear of California , the private equity firm has created a new operating company comprised of the two retailers. A new PSEB Group consists of both brands, which will operate their own independent front ends but benefit from shared services, retail news source Chain Store Age reported. “By

UK’s Deliveroo Will End Operations In Germany

PYMNTS

Deliveroo, the British food delivery service, said it will end its operations in Germany and shift its focus to other markets. Reuters reported that the announcement came on Friday (August 9) that the company would exit that market. The company will be called Just Eat Takeaway.

SoftBank’s New ‘Operating Group’ Encourages Startup Collaborations

PYMNTS

In an effort to create a relationship between its portfolio of investors, SoftBank has created an “operating group” within its Vision Fund. The new fund, like the previous one, is meant to spark investment in cutting-edge technology companies around the globe.

Verizon Buys Drone Operator

PYMNTS

In a press release , Verizon said Skyward, which is based in Portland, adds drone management to the Verizon IoT portfolio, making drone operations easier to manage for any size company. companies rely on Skyward to manage drone operations, improve safety and lower operating costs. With the deal, businesses small and large can turn to Verizon for integrating, managing and wirelessly connecting their drone operations.

Alsea Will Operate Some Starbucks Locations In Europe

PYMNTS

While Starbucks aims to streamline its operations in places that are seeing challenges with sales, the coffee chain plans to give a longtime partner the rights to operate cafes in four European markets.

Sage Sells Off US Payroll Operations In Cloud Push

PYMNTS

Human resources (HR) management company iSolved HCM , based in the U.S., The company also plans to close the deal within the next three month, and said it expects to post a $29.5 However, the company has been investing more into its cloud operations as of late.

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.

Jollypay Gets License To Operate In The UAE

PYMNTS

Online payment system Jollypay has received a license to operate in the United Arab Emirates (UAE), and it’s one of the first foreign companies to do so, according to a release. . It was started in 2017 to aid in the company’s creation of a payment and services endeavor. . In other UAE-related news, the First Abu Dhabi Bank recently rolled out a payroll card solution for the market via its Mercury payment operator unit.

Facebook Users Unfriending The Social Media Operator

PYMNTS

adults from May 29 through June 11, following news of the Cambridge Analytica scandal in which the now defunct political consulting company accessed the information of Facebook users without their consent. Facebook is losing its luster with some of its customers, as Pew Research finds that a “significant” share of its users have changed their relationship with the social media network during the past year.

Big US Mall Operators Look To Sports Entertainment For Growth

PYMNTS

But operators of some of those shopping destinations continue to wield investment power as malls undergo remakes for the 21 st century. Later in that month, teen apparel retailer Charlotte Russe, personalized gift company Things Remembered and shoe retailer Payless filed for bankruptcy.

Respond Software Closes $20M In Funding To Boost Operations

PYMNTS

The company, which develops Robotic Decision Automation (RDA) software for security operations, will use the funds to boost operations, and expand customer success teams across the globe. “We

Three Crypto Operators Sued By US Regulator

PYMNTS

In the latest sign of regulatory action in the virtual currency realm, the Commodity Futures Trading Commission (CFTC) has filed a lawsuit against three virtual currency operators, with allegations that the trio had defrauded customers. In addition, the regulator charged, the three operators broke laws governing commodity trading. The newspaper noted that these are the first actions that come against operators since bitcoin futures were launched in December of last year.

Yelp Faces Investor Call For Board Shakeup, Review Of Operations

PYMNTS

SQN Investors , a longtime Yelp shareholder, is gearing up to push for new board representation as the company suffers from missteps that have hurt shares of the business review service.

Bike Sharing Co Mobike Backpedals Operations To Focus On China

PYMNTS

Chinese bike sharing company Mobike, which once attracted billions from big-name investors, said it is closing down all of its operations around the world, to focus solely on China. The company was purchased by Meituan for $2.7

Uber To Sell Its Uber Eats Operations In India To Swiggy

PYMNTS

Uber Eats , the food delivery business of Uber, is gearing up to sell its Indian operations to Swiggy , a rival food delivery company in the country.

Uber’s New CEO Says Company Will Invest In India Operations

PYMNTS

Uber ’s new Chief Executive Officer, Dara Khosrowshahi , dismissed rumors during a presentation in India about a potential merger with ridesharing service Ola , saying instead that he plans to invest more in the company’s India business, which has been suffering recently from losses. My focus is on our quality of operations and our teams; that’s why I’m here. It’s not clear when, or if, the companies might do so.

Moovit Raises $50M To Expand Operations

PYMNTS

In a statement on the company’s blog, Moovit said the Series D round of funding was led by Intel Capital. Moovit expects to surpass 1 billion users by 2021 and to expand significantly the number of cities that use Moovit data analytics to improve urban mobility,” said Nir Erez, the company’s co-founder and chief executive officer, in the announcement. “We Public transit app Moovit announced Wednesday (Feb. 21) that it had closed a Series D round of funding, raising $50 million.

Temenos Chief Strategy Officer Leaves Company

Bank Innovation

Ben Robinson, chief strategy officer of Temenos, has left the company. Robinson was a key member of Temenos’s innovation operation, taking a leadership role, among other responsibilities, in managing Temenos’s engagement with the fintech startup ecosystem.

Dynamics, Sprint Launch Battery-Operated Payment Card

PYMNTS

With the powerful combination of our unrivaled wireless network spectrum resources, radical IoT technologies from within Sprint and our SoftBank group of companies and our dedication to creating integrated ecosystems — Sprint is at the IoT forefront, demonstrated by our support of Dynamics and the Wallet Card,” said Jan Geldmacher, president of Sprint business.

Bridging Banking Gaps For Cannabis Companies

PYMNTS

That brings the tally of enterprises offering financial services to cannabis companies to 375 banks and 111 credit unions. Cash is expensive for these smaller companies to handle, said Hart, “very expensive, and operationally very limiting.”.

Amazon, Tech Companies Unveil Voice Interoperability Initiative

PYMNTS

Over 30 companies are supporting the effort, with the inclusion of global brands such as Amazon, Salesforce, Sonos, Spotify, Bose and Baidu, among others, according to a Sept. It’s exciting to see these companies come together in pursuit of that vision.”.