FCA and UK payments regulator launch inquiry into ‘risks’ of Paypal, Apple and Google Pay Banking It follows previous work by the PSR on contactless mobile payments and the FCA’s examination of big tech’s role in financial services.
Lopay: SumUp rival eyes profitability this year ahead of Europe and US expansion Fintech London payments start-up Lopay expects to hit profitability in 2024, less than three years after launching, ahead of taking its challenge to bigger rivals like SumUp to new markets in Europe and North America.
PayPal co-founder Peter Thiel and former Coinbase figure invest in the Enhanced Games, a drug friendly Olympics alternative shot in the arm The billionaire co-founder of PayPal Peter Thiel has invested in the drug friendly alternative to the Olympics, the Enhanced Games. The Enhanced Games has promised the freedom to use banned substances that are not allowed in much of elite sport. The brainchild of London-based lawyer Aron D’Souza, the Enhanced Games have announced the closing of [...]
Buy-now pay-later firms welcome Labour call to regulate amid Treasury delays November 7, 2023 Buy now pay later (BNPL) firms have welcomed calls from Labour to regulate services such as Klarna in the same way as credit cards.
FCA rebukes Paypal over ‘unfair’ BNPL terms as sector braces for clampdown October 31, 2023 The Financial Conduct Authority said it has forced a number of buy-now-pay-later firms to change “potentially unfair and unclear” terms in their contracts today as it tightens the screws on firms before formally bringing the sector within its remit.
PayPal freezes all services in Russia following Ukraine invasion March 5, 2022 PayPal is set to shutter all its services in Russia, according to its chief executive today, as the payments giant becomes the latest business to exit the country following its invasion of Ukraine. “Under the current circumstances, we are suspending PayPal services in Russia,” chief executive Dan Schulman said on Saturday. “PayPal supports the Ukrainian [...]
PayPal denies Pinterest acquisition rumours October 25, 2021 PayPal announced it will not be pursuing an acquisition of Pinterest following reports that it was planning to buy the pinboard site for $45 billion.
Primer rides the online payments wave to a $425m valuation after latest raise October 19, 2021 London-founded Primer is only 20 months old, but investors recognise that it’s solving a big problem for e-commerce merchants at a crucial time, and just injected $50m into the startup at its Series B fundraising round. US investment firm ICONIQ Growth led the latest round, accompanied by cash injections from existing investors including Balderton Capital, [...]
PayPal pays $2.7bn for Japanese buy now, pay later firm September 8, 2021 PayPal, the online payments giant, has announced plans to acquire Paidy, a Japanese ‘buy now, pay later’ (BNPL) firm, for $2.7bn, according to reports. BNPL businesses work by charging merchants fees in return for offering small point-of-sale loans which customers repay in instalments that are interest-free, thereby avoiding credit checks. The BNPL market, of which [...]
One in ten UK buy now pay later shoppers pursued by debt collectors September 3, 2021 One in ten UK shoppers who choose to pay for products using buy now pay later have been chased by debt collectors, amid exploding demand for the services since the onset of the pandemic. The proportion of buy now pay later (BNPL) shoppers that have received contact from or been referred to debt collectors rises [...]