Jack Dorsey says Square may build a bitcoin mining system, adding to bitcoin price surge

Square CEO Jack Dorsey said late on Friday the company might jump into the bitcoin mining business. Dorsey tweeted that the company is considering a “bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide.” The price of bitcoin rose above $62,000 following Dorsey’s string of tweets, as the world’s … Read more

European rival to PayPal and Square makes $317 million acquisition to expand in the U.S.

A customer uses a SumUp payment card reader in Lisbon, Portugal, on Sept. 13, 2019. Angel Garcia | Bloomberg via Getty Images LONDON — SumUp, a U.K.-based payment processor, has acquired marketing start-up Fivestars in a bid to expand its reach across the U.S. and take on giants like PayPal and Square. The company said … Read more

Google’s pivot away from bank accounts shows why finance is a tough industry for tech giants

The logo for Google Pay displayed on a phone screen. Jakub Porzycki | NurPhoto via Getty Images At least one tech giant has decided it’s better to serve banks rather than taking them head on. Google is shuttering its bank account product nearly two years after announcing ambitious plans to take on the retail finance … Read more

UIDAI slashes Aadhaar authentication charge to Rs 3: CEO Saurabh Garg

Aadhaar custodian UIDAI has slashed the price for authentication by customers to Rs 3 from Rs 20 per instance to enable entities leverage its infrastructure for providing ease of living to people through various services and benefits. While speaking at Global Fintech Fest organised by NPCI-IAMAI, Unique Identity Authority of India CEO Saurabh Garg said … Read more

How buy now, pay later became a $100 billion industry

Klarna logos displayed on a laptop and phone screen. Jakub Porzycki | NurPhoto via Getty Images Buy now, pay later is having a moment. Millions of shoppers now use a buy now, pay later, or BNPL, service to finance their purchases. And the options are more varied than ever — Klarna, Affirm and Afterpay are … Read more

Savings app Acorns hires former Amazon executive as president, says crypto investing is coming

Acorns president David Hijirida Courtesy: Mo Osborne | Acorns Investing and savings app Acorns has hired a former Amazon executive and fintech CEO to lead day-to-day operations ahead of the start-up’s debut as a public company, CNBC has learned. The company is set to announce Wednesday that it named David Hijirida as president, according to … Read more

Affirm shares soar on news of Amazon partnership for buy now, pay later

Amazon is getting into the buy now, pay later space. The e-commerce giant is partnering with Affirm for its first-ever installment payments option on the popular e-commerce site. Affirm’s buy now, pay later checkout option will be available to certain Amazon customers in the U.S. starting Friday with a broader rollout in the coming months, … Read more

Peter Thiel-backed crypto broker Bitpanda triples valuation in five months to $4.1 billion

A visual representation of bitcoin. STR | NurPhoto via Getty Images LONDON — Bitpanda, a European cryptocurrency trading platform, has raised $263 million in a fresh round of funding valuing the company at $4.1 billion. That’s more than three times the $1.2 billion Bitpanda was worth in its last private financing round five months ago. … Read more

Why millennials and gen-Zs are jumping on the buy now, pay later trend

All 21-year-old Taylor Emmi wanted was a cosmetic kit from makeup artist and social media star Jeffree Star after watching a video about the brand on YouTube in October 2019. So she took the $144 leap, and nearly two years later, she’s shelled out thousands on a makeup brand she normally couldn’t afford thanks to … Read more

Cryptocurrency is taking off as a way to pay for those vacation getaways

Alexander Spatari | Moment | Getty Images You’ll probably have to use cryptocurrency to pay off that ransomware hacker who froze your laptop, but where else might you put all your bitcoin, ethereum and other digital coins to actual use? Tesla may still be unsure about accepting bitcoin for its electric vehicles again, yet cryptocurrency … Read more