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Top News In Payments: China Posts Worst Slowdown In Nearly Three Decades; Alphabet Market Cap Hits $1T

PYMNTS

In today’s top news, China’s economy grew by its slowest rate since 1990, Alphabet reached $1 trillion market value, and attempted check fraud spiked 43 percent. Alphabet Market Cap Hits $1T. Google’s parent company, Alphabet, reached $1 trillion market value, joining Apple, Amazon and Microsoft in hitting the milestone.

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Wirecard Administrator Sees Strong Interest From Potential Buyers

PYMNTS

On Monday, Wirecard executive Oliver Bellenhaus, 46, was arrested in Munich for his alleged central role in the massive worldwide fraud case enveloping the company. The 51-year-old executive faces charges of accounting fraud and market manipulation designed to artificially inflate the financial technology company’s balance sheet.

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Wirecard’s Former CEO Markus Braun Arrested

PYMNTS

The 50-year-old executive faces charges of accounting fraud and market manipulation designed to artificially inflate the financial technology company’s balance sheet to make it look more appealing to investors and customers, the Financial Times reported. billion euros ($2.1

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Fintech Deals to Watch: Fall Festivities

Gonzobanker

Treasury management provider Dragonfly Financial Technologies launched independently from an ACI Worldwide sale. Core: Core-n Mazes and Hayrides FIS acquired embedded finance provider Bond Financial Technologies and announced plans to spin off merchant solutions (to be named Worldpay ). LevelField Financial Inc.

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Today In Payments: Wirecard’s Former CEO Markus Braun Arrested; Airbnb CEO Sees Potential For 2020 IPO

PYMNTS

In today’s top news, former Wirecard CEO Markus Braun was arrested Monday night over the firm’s recent accounting fraud scandal, and Airbnb’s CEO is again mulling a potential initial public offering (IPO). But post-pandemic, the reCommerce market has seen growth as secondhand sales have boomed — even in segments like apparel.

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EU To Examine German Regulators’ Oversight Of Wirecard

PYMNTS

The European Securities and Markets Authority (ESMA), the European Union’s (EU) financial watchdog, plans to examine how German regulators handled oversight of Wirecard AG , the collapsed payments company that is facing a series of criminal allegations. It reported nearly $4 billion of debt to creditors, after it revealed that $2.1

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European Banks Face Massive Losses On Exiting Wirecard Loans

PYMNTS

As the one-time darling of Europe’s financial technology (FinTech) community faces insolvency with the debt of nearly $4 billion, some lenders said there are few buyers willing to pay cents or euros on the debt. Among those sounding the alarm about Wirecard’s potential fraud and money laundering activity have been investors, U.S.

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