Author: PayRate News
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How To Find The Best Payment Processor For Your Business!
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Finding the best payment service provider (PSP) for your specific needs is critical to the success of your business. You have to provide a secure, reliable, and appropriate payment flow and user experience to your clients. Moreover, you have to trust your payment processor to honestly deal with your funds.…
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FBI Seeks Extradition Of Sam Bankman-Fried
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The Federal Bureau of Investigation (FBI) is demanding the extradition of Sam Bankman-Fried to the United States. Together with Bahamian authorities, the US Central Security Agency is discussing the possibility of bringing FTX founder Sam Bankman-Fried to the United States for questioning. This is reported by the Daily Mail, citing…
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BlockFi Facing Insolvency
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After the bankruptcy of FTX, BlockFi is also facing bankruptcy. Payouts were already stopped last week. The bankruptcy of crypto exchange FTX has sent shockwaves throughout the crypto industry and put many digital currencies under pressure. The industry is now concerned that other crypto exchanges could suffer the same fate.…
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Airbank Becomes Friday Finance
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Airbank” becomes “Friday Finance”: Similar to some other fintechs, the word “bank” disappears from the name. Most recently, Solaris deleted this addition from the company name, as did Railsr (formerly Railsbank) and Tuum (Modularbank). The re-branding is intended to illustrate the added value that the Friday Finance platform brings to…
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Fidor Bank Will Be Liquidated!
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Based on exclusive information from Finanz-Szene, Fidor Bank is to be liquidated by mid-2024. Six years after the takeover, the major French bank BPCE, which holds the shares in Fidor, is thus drawing a line under a years-long strategic adventure with accumulated losses in the mid-three-digit million range. Operationally, Fidor…
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The Many Losers Of The FTX Collapse And Its Devastating Consequences!
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In the FTX crash, the crypto market has been in a state of shock. Celebrities such as the U.S. football star Tom Brady are among those affected. Slowly, the full extent of the FTX crash is becoming visible. Sam Bankman-Fried’s crypto exchange had signed big-name investors and promotional deals, including…
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PayTech Cardstream Partners Pith Qi Digital To Empower Digital Currencies
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PayTech company Cardstream (PR42 profile) has partnered with cryptocurrency company Qi to make it simpler for merchants worldwide to accept digital currencies. Cardstream processes card payments globally and also offers emerging and local payment methods for some regions and consumers.
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Binance cancels FTX takeover
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The takeover of struggling crypto exchange FTX.com by rival Binance (PR42 profile) has fallen through. “We have decided not to pursue the potential acquisition,” Binance announced on Twitter. The reason, it said, was media reports of misconduct in the handling of customer funds and alleged investigations by U.S. authorities. Actually,…
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Mastercard Acquires Stake Of FinTech Treezor
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Fintech Treezor (PR42 profile) has gained a new investor in Mastercard.Mastercard is investing in its partnership with Treezor, the fintech subsidiary of bank Société Générale. Treezor was acquired by Société Générale in 2019. The credit card company acquired a minority stake in the fintech from the French institution, Mastercard announced…
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Tech Winter: Facebook Parent Meta Lays Off 11,000 Employees
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Facebook’s Meta Group is laying off more than 11,000 employees in the largest job cuts in its history. That is about 13 percent of the workforce, CEO Mark Zuckerberg announced on Wednesday. Zuckerberg noted that he had overestimated the online boom at the beginning of the corona pandemic and had…