A string of Wall Street players from the New York Stock Exchange to BBVA Ventures took part in the $75 million Series C funding for Coinbase, the largest ever funding round for a bitcoin startup. In crossing over from traditional finance to digital currency, the finance players cited reasons ranging from interest in the blockchain to the growth potential of the new asset class to explain their investments.
Softcard, the carrier-backed mobile wallet that recently announced a round of layoffs, is reportedly in takeover talks with rivals Google and PayPal. Rumors indicate that acquisition talks between Softcard and Google may be the most promising.
The carrier-backed mobile wallet Softcard has announced that it is laying off approximately 60 people in an effort to streamline and reduce costs. The layoffs, coming six months after Apple first announced its Apple Pay mobile payment capabilities, reflects increasing competition in a market that continues to attract mixed responses from consumers.
Apple and IBM launched their first cloud-based mobile business applications as part of their partnership, drawing support from Citi for the apps geared toward financial services firms. The partnership, called IBM MobileFirst for iOS, is aimed at bringing IBM's big data and cloud services to iPhone and iPad users in the enterprise.
The number of mobile commerce transactions is expected to jump to 195 billion by 2019, up from 72 billion this year, according to a new report from Juniper Research. The highest growth rates are...
Visa Inc. says a purchase of Visa Europe from the banks that own it could cost $10 billion and result in a "material and adverse effect on operations and net income," according to an annual report filed with the Securities and Exchange Commission. The company puts the likelihood that European banks would exercise their options to sell Visa Europe to the U.S. card company at 40 percent.
American Express is planning to offer mid-sized businesses cloud-based tools for automated commercial payments to suppliers. The tools, being offered by the American Express Global Corporate Payments division in partnership with cloud-based financial management vendor Intacct, will allow mid-sized businesses to log on to a cloud-based tool and send checks to a supplier and automatically update the general ledger by clicking a button.
JPMorgan Chase & Co. plans to cut 3,000 more jobs than it originally forecasted in February, with 2,000 of the extra job cuts coming in credit cards, merchant services and auto loans areas, and the remaining 1,000 coming from the home loan unit.
Visa is aiming to offer increased personalization to its customers and is willing to work more closely with partners and outside developers to achieve it. That includes external programmers access to application program interfaces and software development kits to build on.
PayPal added sizzle to the mobile payments battles this week, announcing it has partnered with Burger King for mobile payments, just months after Apple Pay announced that it has a partnership with McDonald's.