Top News In Payments: Zuckerberg Tells Congress Libra Fills A Void, PayPal Hits New Growth Milestone

PYMNTS Top News in Payments

Zuckerberg Tells Congress That Libra Fills A Global Payments Void

Facebook CEO Mark Zuckerberg went before the U.S. House Committee on Financial Services on Wednesday (Oct. 23), to both promote and defend proposed cryptocurrency Libra. He faced lawmaker skepticism over a range of Libra’s stated ambitions, but he reiterated his position: Libra is not meant to replace sovereign currency, and it will aid the unbanked population of the world.

 PayPal Active User Base Grows 16 Pct, Hits 295M

PayPal’s third quarter results were fortuitous for the company, with CEO Dan Schulman saying that a billion transactions per month were processed in the quarter. New accounts were up by 9.8 million and hit 295 by the end of the quarter, an increase of 16 percent.

Amazon Snaps Up Health Navigator To Power Primary Care Program

Amazon has acquired Health Navigator, which provides remote diagnoses and treatments on its digital platform. The Health Navigator platform was created for integration into online health services, including telemedicine and medical call centers, to standardize the process of working with patients.

 Visa Partners With Revolut To Introduce Multi-Currency Debit Card

Revolut and Visa have teamed up on a multi-currency travel debit card in Singapore. The new card offers users the ability to spend overseas in over 150 currencies at the real exchange rate and without hidden fees. 

NRF On The Case For Revising eCommerce Sales Tax Laws

After the 2018 South Dakota v. Wayfair ruling, cities and states were given more leeway in taxing eCommerce operations that do business in their jurisdictions. Now, some are pushing for even more taxing abilities, and it’s causing contention in the industry. 

How Stanley Steemer Scrubs Complexity From Employee Reimbursement

As the U.S. small to mid-sized business (SMB) industry grows, the need for fleets becomes more and more apparent. However, they can also provide complications, especially when it comes to on the job spending and reimbursement. Stanley Steemer and other businesses have come up with innovative ways to tackle the issues.