payments provider

PayCargo executive van der Walt resigns to focus on daughter’s surgery

Profile photo of a man with an airplane on one side and ocean containers on the other in a blended picture.

Longtime airfreight industry leader Lionel van der Walt has stepped down from his role as chief commercial officer at PayCargo, a digital freight transportation payment portal, to deal with a family medical emergency.

In a LinkedIn post over the weekend, van der Walt said he resigned to devote all his attention to caring for his eldest daughter, who has been diagnosed with a brain tumor and is scheduled to undergo surgery in February.

“With this in mind I have made a decision to step down from my...

https://www.freightwaves.com/news/paycargo-executive-van-der-walt-resigns-to-focus-on-daughters-surgery

Payfare, Stride partner on real-time payments for gig workers

Fintech company Payfare partners with Stride Bank on instant payments for gig workers and the gig economy

Food delivery drivers last week claimed a win in the ongoing gig economy battle between employers and their workers, who are often classified as independent contractors instead of employees and are deprived of the benefits that come with full employment. Last Thursday, the New York City Council approved a legislative package that, among other things, established a minimum payment per trip for delivery drivers. But for the more than 70% of gig workers living paycheck to paycheck, that money is...

https://www.freightwaves.com/news/payfare-stride-partner-on-real-time-payments-for-gig-workers

Fleetcor reports ‘record retention and sales’ for Q2

Fleetcor's Q2 earnings show significant growth.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. (NYSE: FLT) on Wednesday reported total revenue for the second quarter grew 27% year-over-year to $667 million. Net income increased by 24% year-over-year, totaling $196 million in the second quarter.

After slightly lower earnings in the first quarter, Fleetcor’s adjusted earnings per share (EPS) reached $3.15 for the second quarter, a 38% year-over-year increase from $2.28. The company expected adjusted EPS to...

https://www.freightwaves.com/news/fleetcor-reports-record-retention-and-sales-for-q2

Square to acquire buy-now, pay-later firm Afterpay in $29B stock transaction

Payments services provider Square (NYSE: SQ) announced on Sunday night that it was acquiring Afterpay for approximately $29 billion in stock. The deal is an all-stock transaction, with Square acquiring all the issued shares of Afterpay, pending a court-approved “Scheme of Arrangement.”

A Scheme of Arrangement is a U.K. court mechanism under which U.S. companies can enter arrangements with shareholders and/or creditors. It is frequently used when a takeover happens.

Square stock was up more than...

https://www.freightwaves.com/news/square-to-acquire-buy-now-pay-later-firm-afterpay-in-a-29b-stock-transaction

Stripe acquires TaxJar, plans to build tax automation solutions

Stripe acquires TaxJar

Global payments company Stripe is adding a new tool to its solutions for online customers – tax preparation services.

Stripe will acquire TaxJar for an undisclosed sum. The transaction is expected to close pending regulatory approvals, the company said in a statement Wednesday.

TaxJar provides sales tax automation software for internet businesses.

Founded in 2013 by Mark Faggiano, Ryan Thompson and Matt Anderson, TaxJar employs approximately 200 people. Stripe said TaxJar customers can continue to...

https://s29755.pcdn.co/news/stripe-acquires-taxjar-plans-to-build-tax-automation-solutions

FleetCor Technologies reports revenue and earnings declines

FleetCor Technologies Inc. (NYSE: FLT) announced Thursday second-quarter net income of $158.5 million, or $1.83 per share, a 37% year-over-year decline compared to 2019.

The Atlanta-based commercial fuel-card and business-payment systems provider also posted second-quarter revenue of $525.1 million, a decrease of 19% compared to 2019. 

Second-quarter revenue fell 18% short of Wall Street expectations of $535.8 million, while its earnings per share of $1.83 beat expectations by 23 cents. 

The...

https://s29755.pcdn.co/news/fleetcor-technologies-reports-revenue-and-earnings-declines