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Cryptocurrency laundering was an $82 billion problem last year, Bloomberg News reported Tuesday (Jan. 27), citing data from blockchain analysis firm Chainalysis.
Chinese-language money laundering networks made up $16.1 billion of that total as they play an increasing role in crypto crime, the report said.
“These are groups that are growing exponentially,” Andrew Fierman, head of...
Nuvei says it is offering its merchants a chance to tap into WEX’s virtual card technology.
With this partnership, travel merchants within Nuvei’s network can see improved cash flows, stronger liquidity, reduced credit dependency and increased payments transparency, the companies announced Tuesday (Jan. 27).
“Our partnership with WEX further strengthens Nuvei’s position as the payments...
Amazon is closing its Amazon Go and Amazon Fresh stores while adding more same-day grocery delivery services.
“While we’ve seen encouraging signals in our Amazon-branded physical grocery stores, we haven’t yet created a truly distinctive customer experience with the right economic model needed for large-scale expansion,” the company wrote in its announcement Tuesday (Jan. 27).
“After a...
Tether has launched USAT, a U.S. dollar-backed stablecoin developed to operate within the federal stablecoin framework established by the GENIUS Act.
USAT is issued by Anchorage Digital Bank, N.A., a federally regulated stablecoin issuer, and the stablecoin’s designated reserve custodian and preferred primary dealer is Cantor Fitzgerald, Tether said in a Tuesday (Jan. 27) press release...
Synchrony Financial closed 2025 with fourth-quarter purchase volume of $49 billion, a company record and a 3% year-over-year increase, as spending patterns strengthened across most platforms and co-branded cards continued to gain share, as detailed in fourth-quarter results released on Tuesday (Jan. 27).
CEO Brian Doubles said consumer behavior remained steady, adding that the company...
Crypto payments network Mesh is planning to expand its network after raising $75 million.
The new funding round values Mesh at $1 billion, Bloomberg News reported Tuesday (Jan. 27), and will help the company as it courts FinTech clients in Asia, Europe and Latin America.
“We strongly believe that the future of the economy is tokenized, and this tokenized economy will be heavily...
A bill reintroduced in the U.S. House aims to protect consumers from what its sponsors called “misleading subscription plans” that trick consumers into paying monthly membership fees without their explicit consent.
The Unsubscribe Act (H.R. 7048), sponsored by Rep. Mark Takano of California and co-sponsored by Reps. Mark Amodei of Nevada, Seth Magaziner of Rhode Island and Troy Nehls...
UPS is no longer optimizing for dominance by volume. And it’s by design.
The over-a-century-old shipping and supply chain management company is rounding the bases on its multi-year plan to slash its low-margin Amazon package volume by over 50%, and on Tuesday’s (Jan. 27) fourth-quarter 2025 earnings call management’s language was explicit about the company’s pivot.
The Amazon glide-...
Checkout and payments company Bolt is teaming with buy now pay later (BNPL) provider Affirm, according to a Tuesday (Jan. 27) press release.
The collaboration makes Affirm the default BNPL provider for Bolt’s network of merchants in the United States, the release said. The companies will begin integrating Affirm into Bolt’s checkout with select merchants this month, and there are plans...
Ohio-based Kemba Credit Union, which has 14 branches across Ohio, Indiana and Kentucky, has selected credit union service organization (CUSO) Velera to provide debit and credit card processing services and support.
Velera will begin providing the credit union with this support in August, the companies said in a Tuesday (Jan. 27) press release emailed to PYMNTS.
“We are confident Velera...