DIRS.INFO The most relevant business & tech news

☆ Block says Cash App has 44 mln verified monthly users after Hindenburg report
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

March 30 (Reuters) - Block Inc (SQ.N) said on Thursday 44 million of its more 51 million monthly active customers on Cash App were verified through its identity program as of Dec. 31. The payments firm also estimated that the verified accounts constituted roughly 97% of Cash App inflows. After taking a short position in Block, the report alleged that the payments firm led by Twitter co-founder Jack Dorsey overstated its Cash App user numbers and understated its customer acquisition costs. Block has denied the allegations, saying it would explore legal action against the short seller for its "factually inaccurate and misleading report" that was "designed to deceive and confuse investors". Reporting by Manya Saini in Bengaluru; Editing by Pooja Desai and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Payments firm Block's Australian shares slump after Hindenburg report
▼ + stars: | 2023-03-24 | by ( Navya Mittal | ) www.reuters.com time to read: +2 min

March 24 (Reuters) - Australia-listed shares of Block Inc , led by Twitter co-founder Jack Dorsey, plunged 16.3% on Friday after Hindenburg Research alleged that the payments firm overstated its user numbers and understated its customer acquisition costs. Block, which is currently exploring a legal action against the short-seller, said the report was "factually inaccurate and misleading". Shares of the San Francisco-headquartered company led losses in Australia's benchmark ASX 200 Index (.AXJO) and hit their lowest since January 2023 at A$91.28. Block's $29 billion buyout of the Australian buy-now-pay-later firm Afterpay "was designed in a way that avoided responsible lending rules in its native Australia," the U.S. short-seller said in its report. ASX-listed Block shares plunge post Hindenburg's reportReporting by Navya Mittal in Bengaluru; Editing by Devika Syamnath and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Hindenburg takes aim at Dorsey's payments firm Block, shares plunge
▼ + stars: | 2023-03-23 | by ( Manya Saini | ) www.reuters.com time to read: +5 min

Block shares fell as much as 22% before paring losses and were last down 14% at $62.61 in afternoon trading. After reviewing the full report, Block said it was "designed to deceive and confuse investors". Hindenburg said that Block "obfuscates" how many individuals are on the Cash App platform by reporting misleading "transacting active" metrics filled with fake and duplicate accounts. The app had 51 million monthly transacting actives, a 16% year-over-year increase during December 2022, Block said in fourth-quarter earnings letter. "What I am really concerned about is the Cash App, accusations of fraud, multiple accounts, opening accounts and fake names.

☆ Former NFL player's multi-million dollar Pokemon trading card business
▼ + stars: | 2023-03-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer NFL player's multi-million dollar Pokemon trading card businessBlake Martinez, former New York Giants linebacker and founder of Blake's Breaks, joins 'Power Lunch' to discuss the Pokemon trading card industry, the multi-million dollar business of trading Pokemon cards and the business model for managing card inventories.

☆ Why Goldman’s consumer ambitions failed, and what it means for CEO David Solomon
▼ + stars: | 2023-02-27 | by ( Hugh Son | ) www.cnbc.com time to read: +10 min

That's because many of the decisions Solomon made over the next four years — along with aspects of the firm's hard-charging, ego-driven culture — ultimately led to the collapse of Goldman's consumer ambitions, according to a dozen people with knowledge of the matter. Goldman executives were eager to seal the deal with the tech giant, which happened before Solomon became CEO, they added. The rapid growth of the card, which was launched in 2019, is one reason the consumer division saw mounting financial losses. Within months, Ismail left Goldman, sending shock waves through the consumer division and deeply angering Solomon. Goldman should plow some of those volatile earnings into more durable consumer banking revenues, the thinking went.

☆ Fanatics to start livestreamed shopping of trading cards, collectibles
▼ + stars: | 2023-02-02 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

The Washington Post | Getty ImagesFanatics is moving into livestreamed shopping around collectibles and trading cards, hiring a former Snap and Alphabet executive to launch its new business later this year. Fanatics Live, which will have a standalone app and a coinciding website, plans to launch in the second half of 2023. Only 31% of U.S. adults have even heard of live shopping, with just 22% saying they've participated in a live shopping event, according to a December poll by Morning Consult. Ebay, which said it saw trading card sales increase 142% in 2020, acquired trading card marketplace TCGPlayer for $295 million in August. While Fanatics Live could move into other forms of entertainment and collectibles over time, it will solely focus on trading cards initially.

☆ Here's the real reason why American Express gives out such big rewards
▼ + stars: | 2023-01-27 | by ( Juhohn Lee | ) www.cnbc.com time to read: +1 min

Armed with impressive rewards and a loyal customer base, AmEx is a giant in the credit card industry. The company's revenue has increased by over 32% since 2017 when adjusted for inflation and the company's shares have shown resilience and growth in a tumultuous market. "Discount revenue," or fees charged to merchants that accept its cards, is the company's main source of revenue. "And merchants are willing to pay that premium because American Express is bringing them the most affluent, biggest spenders." Recent company reports claim that Amex card members spend, on average, three times as much annually as those who aren't members.

☆ Here’s what bank stock investors need to know ahead of fourth-quarter earnings
▼ + stars: | 2023-01-12 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

It's been a confusing time for investors in bank stocks. Analysts are expecting a mixed bag of conflicting trends when four of the largest U.S. banks report fourth-quarter results Friday. "Our continued cautious view ... reflects ongoing macro risks and likely weakening bank fundamentals —including peaking net interest margins," Deutsche Bank analyst Matt O'Connor said in Jan. 5 note. The outlook Investors tend to discount fourth-quarter results in favor of what managements say about their outlooks for the coming year. "We expect above-consensus expense guides will likely weigh on bank stocks during 4Q22 earnings as managements communicate their 2023 budget plans," Graseck said.

Most people are aware of gift cards for restaurants or retail stores, but the purchasing power of gift cards is nearly limitless. Throughout the year, we gifted the kids gift cards for Valentine's Day and Easter while also purchasing gift cards whenever our family budget allowed. Cash App Investing does not trade bitcoin and Cash App is not a member of FINRA or SIPC. Show more Minimum Deposit Amount $0 Editor's Rating 4 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4 out of 5 Stars Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Whether you're using gift cards to save up for your family's dream vacation or for a major purchase, buying gift cards is an ideal alternative to conventional saving.

The majority of states have declined to reimburse SNAP skimming victims. If Congress’ massive $1.7 trillion funding package passes, a provision tucked inside it would require states to replace SNAP benefits stolen in October or later. Dutch Ruppersberger, D-Md., who introduced a bill last month to help SNAP skimming victims get their benefits reinstated. Washington, D.C., also reimburses SNAP skimming victims. Current regulations prohibit federal funds from being used to replace stolen SNAP funds, according to the Agriculture Department.

Federal dollars are also not an option for reimbursement because regulations prohibit federal funds from being used to replace stolen SNAP funds. SNAP participants say they cannot wait that long after a month or more of stolen benefits plunged them into financial turmoil. Washington, D.C., also reimburses SNAP skimming victims. In the meantime, anti-hunger advocates say there’s no reason states can’t fill the gap for SNAP skimming victims. How states can helpCalifornia, one state that restores stolen benefits, has a law allowing state funds to be used that dates back to 2013.

☆ Buy-now, pay-later kingpin Klarna's valuation dropped from $45.6 billion to $6.7 billion in 2022. Its CEO wants a 'sane market' before IPO.
▼ + stars: | 2022-12-05 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +6 min

Buy-now, pay-later firm Klarna wants 'a sane market' before IPO. The company is losing hundreds of millions of dollars annually, but says it is reducing credit losses. Klarna took a valuation haircut to $6.7 billion and carried out two rounds of job cuts in 2022. At one time, the company was the most highly valued startup in Europe with a valuation of $45.6 billion. That plunged by 85% to just $6.5 billion as the company raised again this year in a tougher market.

☆ Consumer watchdog plans to regulate 'buy now, pay later' lenders similar to credit card companies
▼ + stars: | 2022-09-15 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

The U.S. Consumer Financial Protection Bureau plans to subject "buy now, pay later" lenders to the same vigorous oversight as credit card companies, saying the short-term financing industry harvests consumer data in ways that threatens consumer privacy. Considered a substitute for traditional credit cards, the buy now, pay later model allows consumers to pay off a loan in a few installments, most commonly four interest-free increments. "Buy Now, Pay Later firms are harvesting and leveraging data in ways we don't see with other companies," CFPB Director Rohit Chopra told reporters in a conference call Wednesday. "We want to ensure Buy Now, Pay Later firms are subjected to the appropriate examination just like regular credit card firms," Chopra said. The CFPB will determine how the credit card industry is incorporating buy now, pay later features.

☆ The global opportunity to disrupt the banks and credit card industry is as big as ever, says Klarna CEO
▼ + stars: | 2022-08-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe global opportunity to disrupt the banks and credit card industry is as big as ever, says Klarna CEOSebastian Siemiatkowski, Klarna CEO, joins 'TechCheck' to discuss if Klarna will have to temper the company's expansion plans, how the company is faring and more.

☆ The Ultimate Travel Card for Serious Travelers
▼ + stars: | 2022-06-27 | by ( Ana Staples | ) www.wsj.com time to read: +8 min

Those generous rewards, along with its $395 annual fee (relatively modest for a premium travel card) make this card Buy Side from WSJ’s pick for Best Travel Rewards Card for Heavy Travelers. The $300 annual travel credit and the 10,000-mile annual bonus (worth $100 in travel) more than make up for the $395 annual fee. Note that (unlike when you redeem miles for recent travel) you need to book through Capital One Travel to receive the travel credit. If you tend to carry a balance, a rewards credit card may not be a good idea for you. The launch of the Venture X in 2021 made Capital One a serious player in the luxury travel card space.

Persons: Ana Staples, spender, you’ll, Hertz, Nilson Organizations: Card, Capital, Travelers, Venture, Venture X, American Express, Chase, Chase Reserve, Survey, Hertz Locations: Capital, U.S, Hertz.com

Read Insider's guide to the best rewards credit cards. These are cards that are almost never advertised on billboards but can be found in the wallets of the savviest credit card and award travel enthusiasts. $75 annual fee Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Read our review Read Our Review A looong arrow, pointing rightThe U.S. Bank Visa® Platinum Card is not an exciting credit card. Jason also produces CardCon , The Conference for Credit and Credit Card Media.

Hyatt HotelsThe Platinum Card® from American Express raised its annual fee to $695. The Platinum Card is also offering a huge welcome bonus offer: 80,000 Membership Rewards® points after spending $6,000 on purchases in the first six months of card membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. CLEAR® locations Atlanta: Hartfield-Jackson International Airport (ATL)Austin: Austin-Bergstrom International Airport (AUS)Baltimore: Baltimore/Washington International Thurgood Marshall Airport (BWI)Birmingham: Birmingham-Shuttlesworth International Airport (BHM)Boston: Boston Logan International Airport (BOS)Chicago: Chicago Midway International Airport (MDW), O'Hare International Airport (ORD)Cincinnati: Cincinnati/Northern Kentucky International Airport (CVG)Cleveland: Cleveland Hopkins International Airport (CLE)Dallas: Dallas Love Field Airport (DAL), Dallas-Fort Worth International Airport (DFW), Globe Life FieldDenver: Denver International Airport (DEN), Coors FieldDetroit: Detroit Metro Airport (DTW)Fort Lauderdale: Fort Lauderdale-Hollywood International Airport (FLL)Houston: George Bush Intercontinental Airport (IAH), William P. Hobby Airport (HOU)Las Vegas: McCarran International Airport (LAS)Los Angeles: Los Angeles International Airport (LAX)Miami: Miami International Airport (MIA)Minneapolis: Minneapolis-St.Paul International Airport (MSP)Nashville: Nashville International Airport (BNA)Newark: Newark Liberty International Airport (EWR)New Orleans: Louis Armstrong New Orleans International Airport (MSY)New York: LaGuardia International Airport (LGA), John F. Kennedy International Airport (JFK), Westchester County Airport (HPN), Yankee Stadium, Citi Field, Madison Square GardenOakland: Oakland International Airport (OAK)Orlando: Orlando International Airport (MCO)Phoenix: Phoenix Sky Harbor International Airport (PHX)Sacramento: Sacramento International Airport (SMF)Salt Lake City: Salt Lake City International Airport (SLC)San Antonio: San Antonio International Airport (SAT), AT&T CenterSan Francisco: San Francisco International Airport (SFO), Oracle ParkSan Jose: Norman Y. Mineta San Jose International Airport (SJC), Earthquakes StadiumSeattle: Seattle-Tacoma International Airport (SEA)St. Louis: St. Louis Lambert International Airport (STL)Washington, DC: Dulles International Airport (IAD), Ronald Reagan Washington National Airport (DCA)It can even speed up your access to the TSA PreCheck lines, if you're eligible. I'll be keeping my Platinum Card, as the value of these new benefits outweighs the additional cost.

☆ Clickpay.md – ведущая платформа по Р2Р переводам в Молдове!
▼ + stars: | 2020-11-12 | by ( Сайт | Комсомольской Правды | ) kp.md time to read: +2 min

Clickpay.md – ведущая платформа по Р2Р переводам в Молдове! Фото:FinComBankС момента своего запуска инновационная платформа Clickpay.md находится в постоянном развитии, предлагая клиентам любых молдавских банков уникальные услуги, как, например, перевод с карты на карту, зная лишь номер мобильного телефона получателя, получение Р2Р переводов из-за границы на молдавскую карту любого банка, получение на карту переводов Золотая Корона. При этом доля национальных Р2Р переводов уверенно растет. «Р2Р переводы с карты на карту - востребованный сервис на рынке Молдовы, который все уверенней входит в нашу жизнь, и для большинства картодержателей уже стал привычкой. Объём Р2Р переводов в 2020 году вырос в 2 раза по стране, сохраняя динамичный тренд.

Persons: Clickpay.md, Елена Стовбун Organizations: Wirecard, SIBS, Industry, Security, PCI DSS, SSL, РР, Департамент развития бизнеса Locations: Wirecard Romania, Молдова

☆ Clickpay.md – top platformă pentru transferuri Р2Р în Moldova
▼ + stars: | 2020-11-12 | by ( Onixmedia Srl | ) diez.md time to read: +3 min

Clickpay.md zilele trecute a sărbătorit aniversarea sa – acum doi ani în Republica Moldova a fost prezentată și lansată această platformă modernă și inovativă, care permite transferuri de bani de la card la card, folosind atât numărul cardului, cât și numărul de telefon mobil al destinatarului. Din momentul lansării, platforma Clickpay.md se dezvoltă în continuu, oferind clienților diferitor bănci din Republica Moldova servicii unice, cum ar fi transfer de la card știind doar numărul de telefon mobil al destinatarului, primirea transferurilor Р2Р din străinătate pe orice card moldovenesc, primirea pe card a transferurilor Zolotaya Korona. «Transferuri Р2Р de la card la card – un serviciu solicitat pe piața din Republica Moldova, care pentru marea majoritate a deținătorilor de carduri a devenit un obicei. Clickpay.md micșorează distanțele mari și te ajută să fii mai aproape de familie și de cei dragi, oriunde nu te-ai afla. Acordă întrebări în secțiunea Feedbacksau apelează serviciul suport clienți: +373 22 269 966De asemenea, ne poți găsi pe Facebook

Persons: Elena Stovbun Organizations: Standard, Facebook Locations: Republica Moldova, străinătate, Romania, România

☆ Clickpay.md – platforma de top pentru transferuri Р2Р în Moldova!
▼ + stars: | 2020-11-12 | by ( ) agora.md time to read: +3 min

Clickpay.md zilele trecute a sărbătorit aniversarea sa – acum doi ani în Republica Moldova a fost prezentată și lansată această platformă modernă și inovativă, care permite transferuri de bani de la card la card, folosind atât numărul cardului, cât și numărul de telefon mobil al destinatarului. Din momentul lansării, platforma Clickpay.md se dezvoltă în continuu, oferind clienților diferitor bănci din Republica Moldova servicii unice, cum ar fi transfer de la card știind doar numărul de telefon mobil al destinatarului, primirea transferurilor Р2Р din străinătate pe orice card moldovenesc, primirea pe card a transferurilor Zolotaya Korona. «Transferuri Р2Р de la card la card – un serviciu solicitat pe piața din Republica Moldova, care pentru marea majoritate a deținătorilor de carduri a devenit un obicei. Clickpay.md micșorează distanțele mari și te ajută să fii mai aproape de familie și de cei dragi, oriunde nu te-ai afla. Primeşte transferuri băneşti şi câştigă un laptop pentru noul an de studii FinComBank a lansat serviciul „Primeşte transfer Zolotaya Koronа” direct pe cardul tău FinComBank anunţă lansarea noului design a cardurilor – cu soluţii inovative integrate Cu FinComBank #mergiînainte!

Persons: Elena Stovbun Organizations: Standard, Facebook Locations: Republica Moldova, străinătate, Romania, România

Din momentul lansării, platforma Clickpay.md se dezvoltă în continuu, oferind clienților diferitor bănci din Republica Moldova servicii unice, cum ar fi transfer de la card știind doar numărul de telefon mobil al destinatarului, primirea transferurilor Р2Р din străinătate pe orice card moldovenesc, primirea pe card a transferurilor Zolotaya Korona. La momentul de față numărul utilizatorilor platformei deja a depășit 500 000, iar numărul tranzacțiilor reușite în anul 2020 a crescut cu 180% comparativ cu anul 2019. «Transferuri Р2Р de la card la card – un serviciu solicitat pe piața din Republica Moldova, care pentru marea majoritate a deținătorilor de carduri a devenit un obicei. Clickpay.md micșorează distanțele mari și te ajută să fii mai aproape de familie și de cei dragi, oriunde nu te-ai afla. De asemenea, platforma îți protejează banii și garantează securitate maximă pentru fiecare transfer, din momentul în care îl efectuezi și până la primirea banilor pe card!

Persons: Elena Stovbun Organizations: Standard, Facebook Locations: Republica Moldova, străinătate, Romania, România

☆ Clickpay.md – ведущая платформа по Р2Р переводам в Молдове Ⓟ
▼ + stars: | 2020-10-12 | by ( ) point.md time to read: +2 min

Clickpay.md на днях отметил юбилей – ровно два года назад в Молдове была презентована и запущена современная и технологичная интернет-платформа. Платформа, позволяющая переводить деньги с карты на карту с использованием номера карты, а также номера мобильного телефона получателя. С момента своего запуска инновационная платформа Clickpay.md находится в постоянном развитии, предлагая клиентам любых молдавских банков уникальные услуги, как, например, перевод с карты на карту, зная лишь номер мобильного телефона получателя, получение Р2Р переводов из-за границы на молдавскую карту любого банка, получение на карту переводов Золотая Корона. При этом доля национальных Р2Р переводов уверенно растет. Объём Р2Р переводов в 2020 году вырос в 2 раза по стране, сохраняя динамичный тренд.

Persons: Clickpay.md, Елена Стовбун Organizations: Wirecard, SIBS, Industry, Security, PCI DSS, SSL, Facebook, РР, Департамент развития бизнеса Locations: Wirecard Romania, Молдова

Credit cards are the best way to build credit, but you need good credit to get one. Founded in 2016, the company partnered with FDIC-insured WebBank to launch its credit card, Petal Card, to the general public last October. To help people with no credit build credit using the fee-free Petal® 2 "Cash Back, No Fees" Visa® Credit Card. Petal Card might not be the best credit card if you already have a robust credit history, but that's not really its purpose. Petal Card was created to help the "credit invisible" build credit with an affordable, transparent, user-friendly credit card, and in that regard, it's shaping up to be the best solution yet.

☆ MasterCard, Visa, and Amex are trying to enter China
▼ + stars: | 2017-07-24 | by ( Ayoub Aouad | ) www.businessinsider.com time to read: +3 min

US card networks MasterCard, Visa, and American Express are preparing to submit a license request to operate in China, according to Reuters. China's card market is poised to be the largest in the world, which makes entering the region a significant growth opportunity for US networks. For companies seeking to build out a robust mobile payments product, China's thriving mobile payments ecosystem offers some insight — and some lessons. Insider Intelligence, Business Insider's premium research service, has compiled a detailed report on mobile payments in China that:Forecasts and compares mobile payments volume, in-store mobile payments users, mobile payments volume per capita, and mobile commerce penetration in China and the U.S.Overviews the key competitors in China's mobile payments market, and how new entrants may shuffle the hierarchy of dominant players. Uncovers the key drivers propelling China's mobile payments market.

Persons: Nilson Organizations: Intelligence, MasterCard, Visa, American Express, Reuters, GlobalData, Fox Business, Business Locations: China, U.S

Search resuls for: "Card Industry"

24 mentions found