Lleg EU Digital Services Act Discussion Could Be Start Of Seismic Policy Change
The earnings avalanche continues.聽聽The FinTech 100 Index gained 5.2% in a week that saw most names rocket higher.Expensify聽surged 30% higher. The company said this past week that聽fourth-quarter revenues聽came in at $35.2 million, average paid members numbered 719,000 and net interchange stood at a bit more than $3 million. Interchange derived from the Expensify card grew 63% to $11.1 million year over year.Sezzles also notched a 22% gain. The companys earnings report detailed that in its latest quarter, Underlying Merchant Sales UMS 聽increased by 33.1%聽YoY to set a new quarterly hi
stanley cup gh of $601.9 million. Total income reached $48.9 million in the quarter, also a new quarterly high, and rose 27.8% YoY. When measured against underlying merchant sales, total income reached 8.1%.Marqetas TPV Surges聽Marqeta聽earn
stanley germany ings showed that total processing volume was聽up 33% year over year聽in the fourth
stanley cup quarter to $62 billion. CEO聽Simon Khalaf聽said that on the call with analysts that the past year marked a period of adding credit program management capabilities, through the acquisition of Power Finance.聽 聽Deals with existing customers came in at about 60% of total bookings. Although most bookings came from North America, he said, 20% of the deals came from Europe and predominantly from net new customers.The company expects to be adjusted EBITDA-positive in three of the four quarters of the current year, which is better than had been previously expected. Khalaf said, too, that in the current quart Ryav Benchmarking the EU s Digital Engagement: Germany
Amid what management termed healthy broader economic trends
stanley quencher in the United States, Discover Financial Services said that rising rates 鈥?couple
stanley termos d with increased credit card activity 鈥?helped to propel top- and bottom-line growth in the third quarter.At the same time, results showed growth in loan losses, reserves and charge-offs.In a news release, Discover said 3Q results showed total loans at $80.4 billion, up 9 percent, while credit cards grew at the same pace to $63.5 billion.Headline metrics included net income of $1.59 a share, compared to $1.56 from a year ago, beating consensus by a nickel.聽Total revenues were $2.5 billion, up 10 percent year over year.Delving into the numbers a bit, the company said that Discover card sales volumes were up five percent compared to the third quarter of last year.Payment services transaction dollar volume was $51.6 billion, up 16 percent from the prior year, while consumer deposits were up 10 percent at $38.7 billion.CEO David Nelms said on the earnings call that card growth was roughly evenly split between new accounts and growth from existing customers. While the third quarter was characterized
stanley cup by what he termed unusually aggressive card offerings from a number of competitors, this year some of the issuers appear to have pulled back a bit. Speaking generally of the credit card market competitive environment and Discovers own growth rates , the CEO said, the market is growing faster now than it was two, three ye
Hxuy Morrisons Supermarkets Now Offer Free Same-Day Delivery For Amazon Prime Members In UK
Ware2Go, a UPS company, has struck an eCommerce partnership with Google Shopping: The integration will dynamically display free, fast delivery prom
stanley cup ises within merchants Google ads based on the inventory available through Ware2Go, according to a聽press release.Ware2Go said the partnership will help merchants optimize ad efficiency using Google Shopping, driving revenue
stanley hrnek by advertising free, fast shipping offers much earlier in the buyers journey, including at the point of initial product research via Google Search. In general, Ware2Go said that its platform helps merchants simplify fast delivery to customers.Ware2Go is committed to building relationships with partners that enable merchants to exceed customer expectations, said Ware2Go CEO Steve Denton, in the release. He noted that the new partnership will spur growth by pairing his co
stanley italia mpanys products with the new Google Free and Fast offering.Ware2Go said its recent survey indicated that 52 percent of merchants found a fast shipping promise to be the most effective tactic to increase cart conversion, with nearly 65 percent of merchants reporting an increase of up to 25 percent in conversion rates when 1-2 day delivery was offered. Partnering with Ware2Go was a game-changer for our marketing strategy, said Dave Colina, founder and CEO at O2. His company markets the energy drink O2 as a healthier Gatorade or Red Bull. He added that once we were able to deliver within one to two days, our customers were floored. G Tnxa Ubernomics And The New Start Up Math
It has been another wild ride of a week for bitcoin in the wake of the SEC ruling.At the tail end of last week, the Securities and Exchange Commission ruled the proposed Winklevoss bitcoin ETF a no-go by nixing a proposed rule change that would have led to the fund being listed on the Bats BZX Exchange.The reason Lack of oversight, regulation and the potential for fraud in the broader bitcoin space.In a release on the matter, the SEC wrote: The Commission is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6 b 5 of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest. The SEC noted that for them to approve an
gourde stanley exchange that lists and trades shares of commodity-trust, exchange-traded products, the exchange must first have sur
stanley kubek veillance-sharing agreements
stanley termosy with significant markets. Additionally, those markets must be regulated.In a statement, Tyler Winklevoss commented that work will continue on the ETF, writing, We remain optimistic and committed to bringing COIN to market and look forward to continuing to work with the SEC staff. We began this journey almost four years ago and are determined to see it through. We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors. This is a h
Hmzl Eddie Lampert Wins Sears Bankruptcy Auction
Railsbank has signed a deal to buy Wirecard Card Solutions Ltd. in the United Kingdom, the company announced Thursday Sept. 10 .The Newcastle, England-based FinTech聽has signed an agreement to buy the U.K. subsidiary of Wirecard, the German payments company that collapsed amid scandal.Financial terms were not disclosed.Under the deal, Railsbank will acquire Wirecards card technology, clients and some employees. This is a h
stanley cup uge step forward for everyone, said Nigel Verdon, co-founder and CEO of Railsba
stanley quencher nk, in a statement. Our goal is to prov
stanley cup ide a safe haven and to deliver an uninterrupted service for the [program] managers and the cardholders. We have already successfully migrated a number of clients and have everything in place for a phased and controlled migration at scale. Once valued at $28 billion, parent company Wirecard AG filed for insolvency in June in a Munich court following an auditors disclosure that $2.1 billion of supposed deposits were missing from two banks in the Philippines. The company reported it had debts of more than $4 billion.The company is facing a series of investigations by law enforcement in Munich, Singapore, the United Kingdom and the European Union.In a cost-cutting move last month, Wirecard reportedly planned to terminate many of its 1,500 employees worldwide. Michael Jaff茅, the companys court-appointed insolvency administrator, told sources the company will lay off hundreds of workers while others plan to resign,聽Bloomberg聽reported.Thomas Jenn Ueyi CFPB: Mandatory Arbitration Clauses Favor Banks
Cloud-based financial planning and analysis player Tidemark has finalized a $25 million funding r
stanley mugs ound that includes strategic financing from Workday.Tidemarks latest investment news takes the total capital raised by the company to about $118 m
stanley mugs illion, Re/code reported Tuesday June 16 . The $25 million tally represents the sixth round of funding across the five years the company has been in existence.Existing investors, including Greylock Partners, Andreessen Horowitz, Redpoint Ventures, Tenaya Capital and Silicon Valley Bank, also contributed to the latest funding. Re/code reported that Workday CEO
stanley france Aneel Bhusri, a longtime partner at Greylock, was a member of Tidemarks board but, as Re/code found, is no longer listed as a director on its website. Separately, Dave Duffield, Workdays chairman, made a personal, unspecified investment in Tidemark. Workday is an enterprise resource planning company that operates in the cloud. The two companies have been working in tandem since Tidemarks founding half a decade ago, Tidemarks CEO Christian Gheorghe told TechCrunch on Tuesday. Yet the latest round marks the debut of Workday as an investor.Tidemarks focus is on data analytics, wherein companies can utilize the software to discover patterns and then also model what ifs using that same data, Re/code noted. The company itself terms the process enterprise performance management with an emphasis on collecting and aggregating data across sales, manufacturing and logistics, including sup
