The Google office in New York on February 2, 2023. Ed Jones | Afp | Getty Images Allison Croisant, a data scientist with about a decade of experience in technology, was laid off by PayPal earlier this year, joining the masses of unemployed across her industry. Croisant has one word to describe the process of … Read more
Capital One CEO and Chairman, Richard Fairbank. Marvin Joseph| The Washington Post | Getty Images Capital One’s recently announced $35.3 billion acquisition of Discover Financial isn’t just about getting bigger — gaining “scale” in Wall Street-speak — it’s a bid to protect itself against a rising tide of fintech and regulatory threats. It’s a chess … Read more
Adyen reported a big miss on first-half sales Thursday. The news drove a $20 billion rout in the company’s market capitalization . Pavlo Gonchar | Sopa Images | Lightrocket | Getty Images Shares of European online payments giant Adyen jumped on Thursday, after the company reported strong sales growth and better-than-expected profit for 2023. Adyen, … Read more
CEO of cryptocurrency platform Coinbase Brian Armstrong attends a reception at Buckingham Palace, in central London, on November 27, 2023 to mark the conclusion of the Global Investment Summit (GIS). (Photo by Daniel LEAL / POOL / AFP) (Photo by DANIEL LEAL/POOL/AFP via Getty Images) Daniel Leal | Afp | Getty Images Coinbase, Crypto.com, Gemini … Read more
Drew Angerer / Getty Images A year ago, there was little holiday cheer at Affirm. The point-of-sale lender was confronting rising interest rates, recession fears and weakening consumer spending. Affirm shares ended 2022 down 90%, wiping out billions of dollars in market value. Affirm investors are wrapping up 2023 in a much different mood. The … Read more
“Buy-now, pay-later” firm Klarna aims to return to profit by summer 2023. Jakub Porzycki | NurPhoto | Getty Images Buy now, pay later firm Klarna has established a holding company in the U.K. that will sit at the top of its corporate structure, in a symbolic move that paves the path for an eventual listing. … Read more
The deal, which is subject to regulatory approvals, marks a major push from Airwallex into Latin America. Airwallex Global fintech giant Airwallex on Thursday said it has agreed to acquire MexPago, a rival payments company based out of Mexico, for an undisclosed sum to help the firm expand its Latin America footprint. The company, which … Read more
Swedish purchase now, pay later agency Klarna decreased its losses by roughly 67% within the first half of 2023, as the corporate dramatically minimize prices in a bid towards profitability. The corporate reported general internet working earnings of 9.2 billion Swedish krona ($843.5 million), up 21% year-over-year. Failing to document a half-year revenue, the agency … Read more
PayPal on App Retailer displayed on a cellphone display screen and PayPal brand displayed on a display screen within the background are seen on this illustration photograph taken in Krakow, Poland on January 2, 2023. Nurphoto | Nurphoto | Getty Pictures PayPal’s new CEO can be Alex Chriss, the chief who runs the small enterprise … Read more
The PayPal software will be seen on a cell phone. Felix Kästle | image alliance | Getty Pictures PayPal on Monday launched a U.S. dollar-backed stablecoin to assist facilitate funds as its newest addition to its suite of crypto providers. It is the primary such transfer from a significant U.S. monetary establishment. The brand new … Read more