PayPal-owned Venmo announced a partnership with banking technology company Fiserv to offer gig workers the opportunity to get their paychecks and tax refunds deposited into their Venmo accounts.

Payments giant Mastercard said it’s getting rid of the magnetic strip on cards starting in 2024. The move is being taken largely as a result of the growth in adoption of new technology, including chip cards and contactless payments.

Payments fintech Square this weekend said it plans to acquire ‘buy now, pay later’ (BNPL) firm Afterpay in a $29B all-stock deal, allowing it to enhance its relationships with sellers and consumers.

In its second-quarter earnings report, PayPal’s net income dropped 23% year-over-year (YoY), which is partially attributable to “short-term drag” associated with eBay transitioning away from PayPal to its own solution, a shift that’s been underway over the past couple of years.

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) – a cross-border payment network owned by a consortium of global banks – launched a low-value cross-border payment solution called SWIFT Go.

Zip, an Australia-based ‘buy now, pay later’ (BNPL) firm, is on course to launch crypto trading to its Australian customers and U.S. users. Zip acquired U.S.-based Quadpay last year in a bid to expand its North American footprint.

In its second acquisition of the year, Visa will acquire Currencycloud in a deal valued at $963M.

Peer-to-peer payments app Venmo, which has been known for the “social feed” component of the app that features the payment behaviors of strangers, is getting rid of the feature in its latest app update.

Apple and Goldman Sachs are reportedly developing a service called Apply Pay Later to rival ‘buy now, pay later’ (BNPL) offerings from firms like Affirm and Afterpay.

Wise, formerly known as TranserWise, made a London stock market debut this week in a direct listing that valued the company at $11B.

Starting in August, PayPal says it plans to hike transaction fees to 3.49% plus 49 cents for merchants that use its proprietary services, which include PayPal Checkout, Pay with Venmo, PayPal Credit, Pay in 4, PayPal Pay with Rewards, and Checkout with Crypto.

Unbeknownst to many, Georgia-based lawyer Stacey Abrams – yes, that Stacey Abrams – has been a fintech entrepreneur since 2010. Together with Lara O’Connor Hodgson, Abrams co-founded Now, a toolset that automates the process and timing around when businesses get paid.

Unbeknownst to many, Georgia-based lawyer Stacey Abrams – yes, that Stacey Abrams – has been a fintech entrepreneur since 2010.

Two months after filing a patent for fintech offering Hazel by Walmart – an amalgam of products and services that look a lot like a robo-adviser – the retail giant announced a partnership with bill payment fintech PayNearMe and Green Dot Bank in an effort to get customers to pay their bills at its stores.

Square is partnering with Google to offer sellers on its platform greater visibility.