The buy now, pay later (BNPL) industry has once again drawn the ire of U.K. regulators. In a press release dated Aug. 19, the U.K.’s Financial Conduct Authority (FCA) issued a warning to BNPL firms, cautioning them against misleading advertisements and the lack of compliance...
Today in B2B payments, three B2B platforms, Omnibiz, CBC24 and Shoptreo, are expanding to meet the needs of the buyers and sellers they serve. Plus, payments and financing startup BlueTape has raised $55 million to help it provide financing and payments services to companies in...
A Block spokesperson told PYMNTS Friday (Aug. 19) that the company is “disappointed” that the Consumer Financial Protection Bureau (CFPB) has filed a petition for a federal judge to force it to comply with the bureau’s investigation into Block’s Cash App tool. The CFPB said...
DoorDash and Walmart are severing their on-demand grocery delivery partnership, an ongoing deal since 2018 that was initially signed for the Atlanta metro area. “We’d like to thank Walmart for their partnership and are looking forward to continuing to build and provide support for merchants...
Over the past 10 years or so as FinTechs came to dominate payments innovation disintermediation was the ticket, breaking out individual banking functions and building financial products with a singular focus. Now, it’s getting too cluttered for many consumers. As more consumers look to super...
South Africa’s largest lender wants to use its position to expand its business banking services amid increasing competition. As Bloomberg News reported Friday (Aug. 19), Standard Bank Group hopes to make the most of its scale and geographical footprint to fuel its growth, CEO Sim...
Singaporean FinTech FinAccel reportedly aims to raise $100 million at a $1.5 billion valuation. That valuation would be one-quarter lower than the $2 billion valuation it had in 2021, according to a Bloomberg report that cited unnamed sources familiar with the matter and added that...
Nigerian B2B eCommerce company Omnibiz has raised $15 million in a pre-Series A funding round and said it plans to expand further in the region. Already active in a dozen cities in Ghana and Nigeria and serving 65,000 retailers, Omnibiz said they aimed to add...
A pandemic surge in growth that unexpectedly sputtered post-COVID prompted online home goods retailer Wayfair to lay off 5% of its global staff, affecting 870 employees. Niraj Shah, CEO, co-founder and co-chairman of Wayfair, said in a memo sent to staff on Friday (Aug. 19)...
