Today in payments: the start-up BNPL confirms its IPO

In today’s news, BNPL startup Affirm has filed for an IPO and retail giant Ahold Delhaize has acquired a majority stake in grocery delivery startup FreshDirect. In addition, Apple is reducing its commission on the App Store to 15% for small businesses with revenues of less than $ 1 million.

PayPal co-founder Max Levchin’s BNPL start-up confirms IPO

Silicon Valley Payments startup Affirm Buy Now, Pay Later (BNPL) has filed an initial public offering (IPO) for a Nasdaq listing. According to the U.S. Securities and Exchange Commission (SEC) filing, the startup saw a 93% increase in revenue growth for the fiscal year ended June 30, reaching $ 510 million. dollars.

Ahold Delhaize acquires majority stake in online grocer FreshDirect

Dutch retailer Ahold Delhaize – the owner of grocery giants Giant and Stop & Shop – has acquired a controlling stake in supermarket delivery start-up FreshDirect amid a surge of online shopping driven by COVID- 19.

Apple Commission Cut Shows App Store Concerns

Apple app developers earning less than $ 1 million in annual revenue after commission are eligible to participate in a small business program that would cut App Store commission rates by half to 15% instead of 30 % usual as he battles Epic Games through the app. fresh.

Rep Maxine Waters calls for ‘in-depth review’ of PNC and BBVA merger

Congresswoman Maxine Waters urged the Department of Justice and relevant regulators to “closely examine” the proposed merger between PNC and BBVA. The merger, which would create the fifth-largest bank in the United States, is troubling to Waters due to the tendency to give bank mergers permission too easily.

Google Pay overhaul heralds the rise of Plex, Google’s smart DDA

The redesign of Google’s digital wallet into a super app launched Wednesday, November 18 in the United States on Android and iOS. Google’s Caesar Sengupta, chief payments officer, and Josh Woodward, chief product officer, tell PYMNTS CEO Karen Webster that the overhaul paves the way for a simplified way for consumers to do three things.

NEW DATA: 44 million consumers want rewards, but restaurants don’t deliver

Eighty-three million U.S. customers earn rewards on their food orders, and 44 million more would love to – if only their favorite restaurants offered it. In Delivering on Restaurant Rewards, PYMNTS surveys 2,089 consumers to find out how restaurants can harness consumer demand for loyalty and rewards programs to gain new customers and improve performance.

Bidenomics: four things to watch for financial services

When the Biden administration arrives on the Hill in January, a number of economic priorities are worth watching. A stimulus bill – possibly multibillion-dollar – to tackle the lingering economic headwinds of the pandemic is just one of those priorities. Here’s what else to look out for.

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NEW PYMNTS DATA: CRYPTOCURRENCY PAYMENTS STUDY – MAY 2021

About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million people plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments report, PYMNTS surveys 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, the crypto they plan to to use – and how merchant acceptance can influence merchant choice and consumer spending.






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