Top News in Payments: FTC Considers Blocking Facebook App Integration; Shares Spike 60 Pct On NYSE Debut

PYMNTS Top News in Payments

In today’s top news in payments, officials at the Federal Trade Commission are considering blocking Facebook’s app integration, and Delta announces plans to combine its Delta Private Jets unit with Wheels Up. Also, PayPal has filed a lawsuit against the CFPB over its disclosure rules for digital wallets and prepaid debit cards.


FTC Considers Blocking Facebook’s Ability To Consolidate Platforms

In the latest antitrust look at Facebook, officials at the Federal Trade Commission are considering the possibility of a preliminary injunction against the social media giant over its policies on integrating its apps, including Messenger, Instagram and WhatsApp.

Delta Takes Minority Stake In Private Jet Startup Wheels Up

Delta Airlines announced on Thursday, Dec. 12, that it will combine its Delta Private Jets unit with Wheels Up, becoming the NYC-based company’s largest shareholder. The move, which should be completed in early 2020, will make it possible to bring the private flying lifestyle to a much larger base of individuals and businesses. Share Price Spikes 60 Pct. On NYSE Debut took home a victory its first day on the trading floor on Thursday, Dec. 12. The B2B payments platform went public with shares priced at $22 and saw a 61 percent spike in its shares, hitting $35 by the end of the day.

PayPal Sues CFPB Over ‘Misleading’ Digital Wallet Disclosure Rules

In a lawsuit filed against the Consumer Financial Protection Bureau (CFPB), PayPal argues that digital wallets operate differently from prepaid and reloadable debit cards, and to lump them together in disclosure rules confuses customers and violates Free Speech protections.

Inside N26’s Strategy To Win US Customers

Once the muscle of the market, challenger banks are now fighting to compete against new financial startups. In the latest Digital Banking Tracker, PYMNTS explores the innovative tools and technologies banks are using to keep their customers loyal.

Vroom CEO: Driving Used-Car Sales Into the Digital Future

Think about buying or selling a used car — without the risk of landing a lemon, the pressure of price negotiation, and the challenge of dealing with a slick salesperson. That’s the experience that Vroom, an online used car platform, is trying to create. Paul Hennessy, the company’s CEO, sat down with Karen Webster this week to discuss his plans to disrupt the entire automotive sales experience.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.