Fed to review debit card fee cap next week
Payments Dive
OCTOBER 20, 2023
The Fed hasn’t changed a debit card fee cap since it was put in place in 2011, but it's planning to take up the issue at a meeting next week.
The Data is Clear: The Durbin-Marshall Credit Card Bill Will Harm Small Businesses
Electronic Payments Coalition
FEBRUARY 7, 2024
Since Congress introduced price caps and routing mandates on debit cards in 2011, research from independent and government sources has illuminated their disproportionate negative impact on small businesses.
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Payday Lending: An Unnecessary Burden on Military Service Members
The Fintech Times
FEBRUARY 1, 2024
I saw the effects of payday lending first hand when I was in the Army from 2006 to 2011. For decades, these entities have locked service members into predatory lending arrangements, wreaking havoc on their credit scores, and personal and professional lives. However, the MLA does not go far enough.
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US Bank Pays Justice Department $613M For Money Laundering Settlement
PYMNTS
FEBRUARY 15, 2018
Since 2011, FinCEN claimed U.S. Bank chose to manipulate their software to cap the number of suspicious activity alerts rather than to increase capacity to comply with anti-money laundering laws,” said FinCEN Director Kenneth A. Bank to the U.S. Blanco in the press release. FinCEN, the OCC and the DOJ contend that U.S.
GoodRx Goes Public As IPO Shares Sell Above Target
PYMNTS
SEPTEMBER 23, 2020
In its filing with the Securities and Exchange Commission (SEC), the Santa Monica, California-based startup said its selling price would be in the $24-$28 per share range, but raising it to $33 per share gave it an initial market cap of around $12.7 Founded in 2011, GoodRx gathers drug prices on more than 70,000 U.S.
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Retail 2021: The Five Things Retailers Should Be Talking About At NRF This Week
PYMNTS
JANUARY 18, 2021
Data assembled by ShopperTrak and published by The Wall Street Journal in January of 2014 only quantified the steepness of that decline — starting as early as 2011. Take Macy’s — the once-iconic department store with a market cap today of $4 billion. It’s Amazon. According to PYMNTS analysis, as of Q3 2020, Amazon had a 14.3
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Infographic: Microsoft’s Biggest Acquisitions
CB Insights
APRIL 4, 2019
Skype ($8.5B, 2011) is a video chat and internet communications service. Microsoft has spent over $63B for its top 10 deals (roughly 7% of its current market cap ). These are Microsoft’s 10 largest acquisitions since 1987: 1. Github ($7.5B, 2018) is a source code management platform. KEY TAKEAWAYS .
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Apple/Disney: Is Apple About To Make The Happiest Acquisition On Earth?
PYMNTS
MARCH 17, 2020
That’s when former Disney CEO Bob Iger noted in his autobiography that had Jobs not died in 2011, a Disney/Apple combination might have happened after all. “I Those rumors have circulated on and off for nearly 15 years, and they got a new injection of life last fall. The service signed up 26.5 million subscribers by 2019’s end, counting 28.6
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Groupon’s CFO Resigns To Pursue Other Opportunity
PYMNTS
AUGUST 23, 2019
The company went public in 2011 and was once valued at $16.5 There are no order minimums or savings caps when using the program. Thomas, who joined Groupon in 2017 as vice president of commercial finance, has served as chief accounting officer and treasurer since November 2018. billion, but its current market value is $1.42
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Analysts Criticize Apple Over Low R&D Spend
PYMNTS
JULY 16, 2018
billion in its last fiscal year, which accounts for more than it spent between 1998 and 2011 when it was creating the iPod, iPad, and iPhone — and is growing it at a faster clip than its revenue growth. by market cap, Apple was the largest but ranked sixth in terms of R&D spending.
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Retailers Want Fed To Revisit Debit Swipe Fees
PYMNTS
MARCH 28, 2016
The Fed ultimately settled on a 21 cent cap plus 0.05% of the transaction for fraud recovery (up from their original proposal of 12 cents). Pre-2011, debit card interchange fees averaged in the 44 cent range. The amendment was passed following lobbying by the merchants and, of course, counter lobbying by the card networks and banks.
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Weird Commerce: Custom Billboard Hats, Featuring Patented Dry-Erase
PYMNTS
JANUARY 13, 2017
That attitude can also be expressed through a quirky baseball cap called a Custom Billboard Hat, fit with a dry-erase board on the front of the hat’s crown and detachable marker for writing on the board. The caps are now sold under the Billy Bob Products umbrella for about $15. It’s a conversation starter.”.
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Bad Week Worsens For Cryptos; No TGIF Here
PYMNTS
FEBRUARY 2, 2018
Reuters noted that since 2011 and into today, bitcoin’s price has been cut in half nine times, but always recovered. And so, the entire arena, as measured by market cap, now has been more than halved, standing at $385 million, as estimated by the newswire this morning, citing Coinmarketcap.com. 2014 to Jan.
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BJ?s Plans To Issue 37.5M Shares In IPO
PYMNTS
JUNE 19, 2018
The warehouse club retailer also said that it plans for each share to be issued in a range between $15 to $17, leading to a market cap topping $2.15 When private equity partners Leonard Green & Partners and CVC Capital Partners took the company private in September 2011, the deal was worth almost $3 billion. million shares.
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Rich Communication Services (RCS): The Next-Gen Messaging Tech Reinventing Brand Communications
CB Insights
MAY 30, 2018
market cap, or Kik ‘s $1B valuation as of 2015. Even smaller players like GroupMe (a cquired by Skype for $85M in 2011) have built successful products in the absence of a universal messaging system. But in this sea of messaging apps, SMS still reigns supreme.
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Top 8 Fintech Investors in Indonesia Fueling The Revolution
Fintech News
JUNE 3, 2024
With assets under management (AUM) exceeding US$500 million and over 120 investments, AC Ventures has significantly impacted the market, creating a market cap of US$7 billion. Indonesia’s fintech landscape is booming.
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Amazon Briefly Became World’s Biggest Company On Monday
PYMNTS
DECEMBER 3, 2018
percent and a market cap of $870 billion, Amazon beat out the giant by a few hundred million this morning, even though Apple shares were up 2.1 Apple took the title from ExxonMobil in 2011. However, with shares up 5.2 percent at the time, above Amazon. The afternoon proved different though.
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This Secretive German Firm Is Consolidating The US Coffee Industry
CB Insights
DECEMBER 19, 2017
With a $5.3B+ market cap, Dunkin Donuts would be pricey, though not out of line of JAB’s prior deals. A few months later, Krispy Kreme re-acquired its UK business, which had been sold to PE firm Alcuin in 2011. With Americans spending roughly $23.4B in July 2012, marking its entry into the coffee space.
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Competition Heats Up Between Large FIs, Small Banks, Alt Lenders ? And SMBs Win
PYMNTS
JUNE 18, 2018
Both represent post-recession highs for traditional bank lending to small businesses, the report found, noting that big bank approval rates in 2011 were just 8.9 percent increase in shares at mid-cap regional banks and a 12.1 percent in May, down from 40.2 percent a month prior. percent in May, down from 40.2 percent a month prior.
Can Travel Get Groupon On A More Profitable Path?
PYMNTS
SEPTEMBER 25, 2019
But its market cap has declined by nearly 90 percent since going public in 2011 as the firm as worked hard to reposition itself away from flash deals and more as an eCommerce player focused on leisure, entertainment and local attractions.
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49 CashCall, Courts And California’s Increasingly Confusing Lending Market
PYMNTS
AUGUST 15, 2018
Under California law, there are maximum rates that can be charged on loans up to $2,499, but there is no cap on loans of $2,500 and up. However, when those caps were moved in the 1980s, lawmakers included language in the legislation that noted rates could be found “unconscionable.” A unanimous ruling released on Monday (Aug.
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Happy 15th IPO Anniversary Google!
PYMNTS
AUGUST 19, 2019
Alphabet, with an $800 billion+ market cap, hundreds of millions of active daily users, and stable duology with Facebook for the bulk of web’s advertising revenue has inarguably succeeded since IPO went off 15 years ago today (Aug. 19, 2004). I don’t know what they’re really worth – and you don’t either.
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Finovate Global Mexico: Banorte’s Digital Bank, Amazon’s BNPL Partnership with Kueski Pay
Finovate
FEBRUARY 2, 2024
The Light Account has a monthly cap of 3,000 UDIS (investment units), which equals approximately 24,000 Mexican pesos. Founded in 2011, Prestadero was the first fully legally compliant and operational P2P lending platform in Mexico. Bimeo offers a pair of accounts for customers. The bimeo Total Account allows for unlimited deposits.
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Is It Officially Time To Start Worrying About Consumer Credit?
PYMNTS
MAY 2, 2017
percent, its highest level since 2011. More telling, according to market watchers, is how Cap One is explaining the apparent weakness. But Cap One isn’t the only issuer experience a sudden spike in losses. Capital One reported a write-off rate of 5.1 “This isn’t just a one-quarter blip.
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Top 7 bitcoin payment gateways for merchants
Ikajo
JANUARY 22, 2022
Statista shares that bitcoin’s market capitalization formed 53% of the total cryptocurrencies’ market cap in 2019. It started its operations in 2011. Cryptocurrencies, along with bitcoin, functionalize too long to ignore them. According to the same source, bitcoin payments amounted to 3% of global preferred payment methods in 2017.
Groupon Tries To Reach A More Lucrative Consumer Base
PYMNTS
AUGUST 12, 2019
There are no order minimums or savings caps when using the program. Earlier this year, the company – which started selling products online via its Groupon Goods offering in 2011 – was reportedly “testing a service to help mom-and-pop shops sell their unwanted goods at a discount.” Marketing expense was $88.9
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Is Uber The Next Decade’s Trillion-Dollar Platform?
PYMNTS
APRIL 15, 2019
Lyft’s market cap was a bit lighter by the end of the day Friday, too: $17 billion versus the $23 billion it enjoyed, albeit briefly, on its first day as a public company. In 2011, the company’s services and mobile app debuted in San Francisco. Uber filed its S-1 last Thursday (April 11), two weeks after Lyft went public.
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73 Amazon Tracker: Cash In Bloom
PYMNTS
APRIL 12, 2017
The online retail giant’s estimated market cap sat at just a tad over $439 billion—nearly twice that of Walmart. Well, as long as it happened between November 2011 and May 2016.). At the time of writing, one AMZN share was worth $919.43, up 0.37 percent from Monday’s close and trending upward still.
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Is Stitch Fix’s IPO The Latest E-Commerce Dud Or Is Its Styling Algorithm A Game-Changer?
CB Insights
NOVEMBER 16, 2017
Launched in 2011, the startup offers subscription boxes of apparel and accessories curated by personal stylists for each shopper. Stitch Fix has — almost — become a household name. Users can try on items at home, and return whatever they don’t like in prepaid shipping envelopes. Steady revenue growth, but rising marketing costs.
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45 Adapting To The ‘Nitty-Gritty’ Of Subscriptions
PYMNTS
OCTOBER 11, 2017
In 2011, they began building Chargebee, a subscription billing and relationship management platform to help merchants process payments for subscriptions simply and, perhaps most importantly, adapt quickly to an evolving landscape.
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40 LendingClub Settles With SEC, DOJ
PYMNTS
OCTOBER 1, 2018
Last week’s announcements capped off two years of investigation into the P2P lending firm, and its board has expressed some relief that it seems to be time to turn the page on the events of 2016. In 2011, LendingClub added another $25 million in Series D funding in a round lead by Union Square Ventures. Attorney Alex Tse. “We
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54 Is There Still A Happy Ending For MoviePass?
PYMNTS
AUGUST 4, 2018
Today, Netflix has a market cap of $150 billion, and just beat out HBO for the most Emmy nominations in 2018. In 2011 – seeing that streaming was its future and mailing out DVDs was it past – Netflix abruptly announced they were separating the services, which customers had previously been able to access for a single $10 monthly fee. .
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Top 34 Digital Lenders to U.S. Small Businesses (SMB) (July 2024)
Fintech Labs Insights
JULY 30, 2024
83,000 17 17 Credibly 28 2010 Detroit 82 97,000 18 19 IOU Financial 23 2011 Atlanta 132 40,000 19 18 Upright (was Fund that Flip) 15 2014 NYC 53 42,000 20t 21 BizFI 13 2005 NYC 160 0 20t 22 SMBX 13 2016 SF 15 30,000 22 23 HoneyComb Credit 12 2017 Pittsburgh 11.9 Ten of the 36 largest were started in the 2007 to 2012 period.
A Look at the First Week of Nasdaq’s Fintech Index
Fintech Labs Insights
JULY 25, 2016
FinovateFall 2011 demo. FinovateFall 2011 demo. According to Nasdaq’s press release , the companies in the index “represent roughly one-fifth (18%) of the investable domestic financial universe and nearly 4% of the investable domestic equity universe to account for approximately $785 billion in total market cap.”
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Lighter Capital Closes $9 Million Series B Funding Round, Raises $100 Million to Lend to Tech Startups
Fintech Labs Insights
NOVEMBER 30, 2015
The funds, which come from Community Investment Management, will help Lighter Capital increase its investment cap from $1 million to $2 million. BJ Lackland is CEO of Lighter Capital, which debuted its Revenue Loan at FinovateSpring 2011 and last demoed at FinovateFall 2013.
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21 Lessons From Jeff Bezos’ Annual Letters To Shareholders
CB Insights
OCTOBER 16, 2018
The online bookseller didn’t turn a profit for six years — today, it’s the second publicly traded company ever to hit a $1T market cap. 2011: Self-service platforms unlock innovation. Place your bets where your downside is capped but your upside is unlimited. 2011: Self-service platforms unlock innovation.
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LendUp Gives the Underbanked What No Traditional Bank Will
Fintech Labs Insights
MAY 17, 2017
In fact, late fees, which are capped at $7, are only issued after a 14-day grace period. ” Though overall the card may be good for consumers, the introductory line of credit, capped at $300 to $1,000, could possibly lead to a high credit utilization ratio, which lowers consumers’ credit scores. .”
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From Investing To Budgeting, How Millennials Are Disrupting Personal Finance
CB Insights
SEPTEMBER 10, 2019
Simple, an early contender founded in 2009, floundered following its 2011 launch before ultimately being bought by Spanish banking giant BBVA in 2014. SoFi hit the scene in 2011 with the goal of providing a more affordable option for financing education. The strength of the neobank value proposition rests on its digital-first focus.
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What Is Blockchain Technology?
CB Insights
NOVEMBER 21, 2017
Because of this cap on the number of bitcoins in circulation, which will eventually be reached, bitcoin is inherently resistant to inflation. Remember Bitcoin’s rules: it caps the number of bitcoin at 21M and uses the Proof of Work system to secure the network. Many of them seek to improve on Bitcoin or expand its capabilities.
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Bridging Images and Text - a Survey of VLMs
Nanonets
SEPTEMBER 17, 2024
By leveraging MoEs and curating the datasets, MM1 creates a strong family of models that are very efficient and accurate. Has detailed annotations, including object detection, relationships, and attributes within scenes, making it ideal for scene understanding and dense captioning tasks Conceptual Captions (CC3M) (2018) 3.3M
Should Facebook Buy eBay?
PYMNTS
AUGUST 21, 2017
And, in 2011, eBay acquired eCommerce tech platforms GSI Commerce and Magento to create more synergies with the online retailers that were its customers. With a market cap of $37.2 The auction model was largely disbanded over time in exchange for a “Buy It Now” option and fixed price listings.
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Sizzle Or Fizzle: EMV, Apple, Birchbox (And Why Being First Isn’t The Same As Winning)
PYMNTS
JUNE 17, 2016
Founded by YouTube’s resident cosmetics expert Michelle Phan in 2011, ipsy promotes itself through a network of YouTube beauty and wellness celebrity vloggers, and encourage users to create and upload content. As of this week Birchbox has announced that going forward customers credits will be capped after their first five reviews.
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40 The 18 Fintech Startups in the 2020 INC 500
Fintech Labs Insights
AUGUST 27, 2020
Even more impressive is that the company was founded in 2011 and is the rare two-time top-100 company having placed #51 last year. Growing a trusted brand in the financial services sectors is generally a long process. That said, landing at number 8 this year is Nationwide Mortgage Bankers growing an astounding 160-fold.
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Zapier Alternatives
Nanonets
JANUARY 17, 2024
That's why in this article, we're donning our investigative caps and diving deep into the world of workflow automation. Launched in 2011, it remains a robust and versatile choice, especially appealing to the B2C market and smart home enthusiasts.
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