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“#Visa stock tumbles after report of debit card probe” Visa’s stock price slid Friday as the card giant confirmed that the feds are probing whether it has used anticompetitive practices to maintain its dominance in the debit-card market. Shares in the payment processor tumbled 6.2 percent to close at $206.90 after the Wall Street Journal…
“# BlockFi clients earn record interest payments in February ” Crypto lending firm BlockFi posted another record-breaking month in February, paying out over $35 million in interest to its clients. The interest payments were comprised of 450 in Bitcoin (BTC), 5,000 in Ethereum (ETH) and 6 million in stablecoins, CEO Zac Prince said. Another record…
“# As Visa and Mastercard raise fees, merchants may look to crypto ” Credit card providers charge merchants a cut of the payments they accepted, called interchange fees or swipe fees. With two major card providers aiming to elevate rates, could crypto become an alternative? “Visa Inc. and Mastercard Inc. are planning to raise swipe…
“# Gemini exchange to launch credit card with 3% cashback rewards paid in Bitcoin ” Users of the Gemini exchange can now sign up for a cryptocurrency rewards credit card that lets them earn up to 3% back in Bitcoin (BTC). The Winklevoss-led exchange and custodian announced Thursday that the waitlist for the Gemini Credit…
“# Visa abandons $5.3B Plaid acquisition in the face of DoJ antitrust suit ” The United States Department of Justice saw a victory in a major fintech acquisition case that could set the stage for a host of antitrust enforcements. On Tuesday, the DoJ announced that Visa and Plaid had called it quits on their…
“#Stripe drops Trump campaign site after Capitol riots” Payments processor Stripe has booted President Trump’s campaign website from its service, blaming Wednesday’s assault on the Capitol for the move. The San Francisco-based firm, whose tech allows sites and businesses to accept credit card payments, is distancing itself from the embattled commander-in-chief and his team, claiming…
“#JPMorgan to buy credit-card reward business of cxLoyalty” JPMorgan Chase said Monday it would buy the global loyalty division of cxLoyalty Group Holdings, a third-party credit-card loyalty program service provider. The transaction, whose financial terms were not disclosed, will see the Wall Street bank integrate cxLoyalty’s technology platforms, full-service travel agency, gift card, merchandise, and…
“#Mastercard ends relationship with Pornhub amid illegal content exposé” Mastercard and Visa have dumped Pornhub following an exposé that revealed the site was infested with videos of rape and child sex abuse. Mastercard confirmed “the presence of illegal material” on Pornhub’s website following the publication of a report by the New York Times, which reported that…
“# Visa will facilitate USDC payments, thanks to fresh partnership ” Visa has teamed up with blockchain services company Circle to make USD Coin (USDC) stablecoin transactions compatible with certain credit cards. “After Circle itself graduates from Visa’s Fast Track program, likely sometime next year, Visa will issue a credit card that lets businesses send…
“# Visa and BlockFi to launch Bitcoin rewards credit card as adoption grows ” Visa and BlockFi are teaming up to launch a new credit card that rewards users with Bitcoin (BTC), setting the stage for wider mainstream adoption of digital currency. BlockFi, a New York-based startup specializing in crypto-backed loans and savings accounts, announced…