Payments

PayPal says Amazon customers will be able to pay with Venmo

PayPal announced that Amazon customers will be able to pay using Venmo starting in 2022, helping the company mute the reaction to a Q3 revenue miss.

The announcement came as the company released its Q3 earnings Thursday after the market closed. PayPal (NASDAQ: PYPL) stock was up more than 1.5% in after-hours trading Thursday.

Revenue in the quarter came in just under expectations at $6.18 billion, up 13% year-over-year, but missing the Seeking Alpha consensus of $6.42 billion. PayPal posted a...

https://www.freightwaves.com/news/paypal-says-amazon-customers-will-be-able-to-pay-with-venmo

Fleetcor beats Q3 expectations again with 29% YOY revenue growth

Fleetcor's third-quarter results beat expectations again.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. (NYSE: FLT) on Wednesday reported total revenue for the third quarter grew 29% year-over-year to nearly $756 million. Net income increased to $234 million for the quarter, a 24% year-over-year rise.

After record retention and sales in the second quarter, the trend continued in Q3. 

Fleetcor’s adjusted earnings per share (EPS) reached $3.52 for the third quarter, increasing 26% year-over-year from $2.80. The...

https://www.freightwaves.com/news/fleetcor-beats-q3-expectations-again-with-29-yoy-revenue-growth

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

Why digital currencies should be programmable

Why digital currencies should be programmable

Wednesday 28 July 2021 – Vol.12 Ed.30.3

Commentary: CBDC systems should focus on programmable payments

By Wolfram Seidemann in Munich

Central bank digital currencies are close to being widely introduced and many thorny matters have been discussed in financial circles. These include developing secure infrastructure, questions around governance and mitigating adverse economic impacts. As public digital currencies rapidly transform from theory to reality,...

https://allaboutshipping.co.uk/2021/07/28/why-digital-currencies-should-be-programmable/

BravoTran spins off from HubTran, sets sights on freight forwarding efficiencies

A spinoff from the recent acquisition of HubTran by the TriumphPay subsidiary of Triumph Bancorp (NASDAQ: TBK) is setting up shop to bring that technology to the freight forwarding business.

The new company, BravoTran, is based in Chicago. 

A group of about a dozen employees from HubTran is taking what BravoTran founder and CEO Matt Bernstein said was a “nascent” effort at HubTran to penetrate freight forwarding, which he said suffers from the same excessive use of paper and antiquated processes...

https://www.freightwaves.com/news/bravotran-spins-off-from-hubtran-sets-sights-on-freight-forwarding-efficiencies

PayPal: ‘Strongest first-quarter results’ in company history

Global payments provider PayPal (NASDAQ: PYPL) on Wednesday reported Q1 2021 net revenues of $6.03 billion, up 29% year-over-year, and beating the $5.9 billion estimate of analysts surveyed by TipRanks.

PayPal said non-GAAP earnings per share (EPS) was $1.22, 20 cents better than Seeking Alpha’s estimate, and GAAP EPS was 92 cents, 28 cents ahead of estimates. GAAP EPS increased 1,200% over Q1 2020 and non-GAAP EPS was up 84%.

The stock price was up more than 4% in after-market trading following...

https://www.freightwaves.com/news/paypal-strongest-first-quarter-results-in-company-history

Cloud-payments firm Gr4vy announces $11.1M funding

From PayPal to Gr4vy. John Lunn, a leading executive with Paypal (NASDAQ: PYPL) during his time leading the company’s Developer and Start-up Relations division, has come back to the payments business with a new firm, Gr4vy.

After that stint in 2015-16, Lunn became a partner in PayPay Ventures until early 2020. In late 2020, he launched Gr4vy, a cloud-native payments company. The company announced a $11.1 million Series A funding round led by Nyca Partners with participation from Activant Capital,

https://s29755.pcdn.co/news/cloud-payments-firm-gr4vy-announces-111m-funding

Central banks set the stage for innovation in payment systems

Central banks set the stage for innovation in payment systems

Tuesday ​4 May 2021 – Vol.12 Ed.18.1

Commentary: Fnality targets cross-border opportunities

By Philip Moore in London

Rhomaios Ram, chief executive officer of Fnality, was in good spirits when he spoke at OMFIF’s DMI Symposium last week. A few days earlier, the Bank of England announced the launch of its new omnibus account model. The announcement was described by Ram as a ‘huge event’ for Fnality and will have far-reaching implications...

https://allaboutshipping.co.uk/2021/05/04/central-banks-set-the-stage-for-innovation-in-payment-systems/

Venmo customers now can buy and sell cryptocurrencies in app

PayPal enables customers to buy crypto on Venmo

Weeks after it announced customers could begin to use cryptocurrencies for payment, PayPal (NASDAQ: PYPL) has added the ability to buy and sell four popular cryptocurrencies on its Venmo app.

Crypto on Venmo will also include cryptocurrency trends and access to in-app guides and videos to help answer commonly asked questions about cryptocurrencies. Customers using crypto on Venmo can choose from four types of cryptocurrency: Bitcoin (BTC-USD), Ethereum (ETH-USD), Bitcoin Cash (BCH-USD) and...

https://s29755.pcdn.co/news/venmo-customers-now-can-buy-and-sell-cryptocurrencies-in-app

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