Category: Finance

Marqeta’s new CEO Simon Khalaf envisions the company that grew up focused on providing virtual cards to corporate clients now adding new embedded payments services. Khalaf, who assumed the top job Tuesday, laid out the Oakland, California-based company’s strategy in an interview last week, saying he’s moving in the same direction founder Jason Gardner set […]

Jack Henry is expected to report slower quarterly revenue growth and a lower operating profit margin during its fiscal second quarter earnings call next week, despite executives asserting demand for its services remains steady. Although rivals might be experiencing a slowdown in demand, Jack Henry CEO David Foss repeatedly said in the latter months of […]

Dive Brief: Cryptocurrency exchange Gemini has appointed Tyler Skelton as its head of finance, Bloomberg reported Friday. The appointment comes roughly two weeks after the Securities and Exchange Commission charged both Gemini and its partner for the service, Genesis, with selling unregistered securities through a cryptocurrency lending program, Gemini Earn. Genesis filed for Chapter 11 bankruptcy […]

Yanire Martes, general counsel of digital-asset banking platform Dinara, said some of the news about the cryptocurrency industry in recent months “shocks the conscience.” In one of the highest-profile examples of the troubling developments, the crypto exchange FTX filed for bankruptcy and its new CEO claimed the company suffered from a “complete failure of corporate […]

Card issuer Marqeta will acquire cloud-native credit card program management platform Power Finance in a $275 million all-cash deal expected to close in the first quarter, the company said Monday. The acquisition — Marqeta’s first — comes a day before Simon Khalaf, previously the company’s chief product officer, takes the reins as Marqeta’s CEO. The […]

Dive Brief: The Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City on Friday denied crypto-focused Custodia Bank’s request to become a member of the Federal Reserve System, as well as its application for a master account. In a statement Friday, the Fed said Custodia’s crypto-focused business model “presented significant safety […]

Dive Brief: The antitrust division of the Justice Department demanded more documents and information from Visa in connection with its ongoing investigation of the company’s debit card practices, Visa said in a regulatory filing with the Securities and Exchange Commission on Friday. Visa, the largest U.S. card network company, said it’s cooperating with the investigation. […]

Dive Brief: Marqeta, an Oakland, California-based fintech that provides virtual credit card services to commercial clients, said in a press release today that it has agreed to acquire Power Finance for $275 million in cash. Marqeta will buy the New York-based company to expand on its credit card services and “meet the changing demands and expectations […]

Dive Brief: Visa President Ryan McInerney, who will become CEO of the card network company Wednesday, has tapped a pack of new executives to lead the business as part of an organizational restructuring, he said last week during an earnings call with analysts.  McInerney, who was named the next CEO in November, appointed Visa veteran […]

Layoffs abound in the crypto world, as they have since early May. The year switched anew on the calendar, yet the sector gets no “new year, new me” shift: More than 26,000 jobs were lost in crypto in 2022. By press time, the 2023 tally had numbered no less than 1,900. It’s hard to predict […]