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    Etsy Buys Music Instrument Marketplace For $275M In Cash

    Etsy announced that it is acquiring Reverb Holdings, a marketplace for new, used and vintage music gear. The deal is for $275 million in cash, subject to certain adjustments. Once the transaction closes, Reverb will continue to operate as a standalone business. “Vibrant two-sided marketplaces are lightning in a bottle — there are only a […]

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    • There’s been a lot of chatter surrounding the anticipated release of Facebook’s new cryptocurrency, and the release of the Facebook Libra white paper. But, there’s one piece of news that could spell big bucks for people who jump on the train early: a consortium formed by Facebook Inc. in which at least four payment processing

    • BitForex has listed MILE on their exchange. It’s a deflationary cryptocurrency tied to a new stablecoin, XDR. MILE carries a 0.01 MILE transaction fee, while XDR transactions are free. While the market for stablecoins is already crowded, George Goognin, a board member and global ambassador for the Mile Unity Foundation believes that this coin pairing

    • On November 14th 2017, the price of bitcoin was a little over $6,500 — a bit more than it is today at $6,300. It might be easy to look at that 5 percent year-on-year price decline and conclude that perhaps the world’s best-known cryptocurrency is getting more stable. Those two data points belie the fact that the

    • Chase said Wednesday (Nov. 14) that it is rolling out tap-to-pay functionality across its Chase Visa card portfolio, an initiative that will begin late this year and extend into 2019. Chase, the consumer banking arm of JPMorgan Chase & Co., said the rollout will be done on an ongoing basis, spanning when customers open up

    • The growth of the tech industry in China has seemed unstoppable, marked by consumers and gamers numbering in the hundreds of millions – and revenues in the billions of dollars’ worth.   The twin pressures of government oversight and a trade war with the United States are proving to be headwinds to that growth. Consider

    • Rep. Maxine Waters, the Los Angeles congresswoman, is expected to set her sights on Wells Fargo and Deutsche Bank when she becomes head of the House Financial Services Committee in January. According to a report in the Los Angeles Times, Waters is expected to become the head of the powerful committee and told the Los

    • Under the guidance of Governor Andrew Cuomo, BitLicense was enacted in New York State, driving out digital currency exchanges and other blockchain companies that were the beginning of a growing industry. With the exception of a handful of companies that had the means and connections to acquire BitLicenses, many cryptocurrency firms are unable to conduct

    • Aiming to provide customers with more consistent pricing, Uber announced Tuesday (October 30) a pilot of a new membership program dubbed Ride Pass. In a blog post, the ride-hailing startup said Ride Pass is a new way for riders to lock in a consistent, low price on any ride they take anywhere in the city

    • Foreign exchange (FX) brokerage solutions provider Leverate is rolling out a cryptocurrency solution aimed at promoting crypto adoption among brokers and businesses. Reports in Finance Magnates on Tuesday (Oct. 30) said Leverate announced the launch of Terrexa Pay, providing a cryptocurrency payments gateway platform that enables users to streamline their transactions made with bitcoin and

    • Western Union and Amazon announced a partnership Wednesday (October 31) that will offer a new payment option for international customers of the eCommerce giant. Western Union said in a release that Amazon customers will be able to pay in local currency for the items they buy online, which should spur cross-border transactions, with ease of

    • To assemble baskets of products for delivery orders, Albertsons is teaming up with Takeoff Technologies for a trial partnership. Through the arrangement, the process will be handled by technology in lieu of staff, CNBC reported. With the pilot, Albertsons plans to stock products that shoppers like for online orders in selected areas. Technology enabled by

    • MediXserve is working with the Ateneo de Manila University in the Philippines in an effort to make the first blockchain research and education lab in the country, Cryptovest reported. The Ateneo-MedixServe Blockchain Education and Research Laboratory (AMBERLab) will be involved in training programs and prototype design, among other activities. It will also involve various verticals,

    • Chinese payments conglomerate Alipay is ramping up its B2B services with a new suite of offerings for small businesses (SMBs). Reports in Financial IT on Monday (Oct. 29) said Alipay is introducing a range of solutions for small businesses to support growth of China’s SMB community. They include business intelligence solutions like analysis and support

    • Berkshire Hathaway, the Warren Buffett investment company, has been getting in on the FinTech market, investing hundreds of millions of dollars during the past few months. The Wall Street Journal, citing the company, reported that during the past few months, Berkshire has invested roughly $600 million in StoneCo, the Brazilian payment processor and Paytm’s parent

    • Privacy is not an afterthought with the “Privacy by Design” mindset, and FinTech startups may take a similar approach with data security. In that sense, they may incorporate data security every time they make an enhancement or a release. “It’s really built in by design,” DadeSystems CIO Mike Capote told PYMNTS.com in an interview. When

    • Apple is gearing up to launch new products on Tuesday (October 30), and the Wall Street Journal reported those offerings are expected to include new iPad and Mac products. According to the Wall Street Journal, citing analysts, during the event being held at the Brooklyn Academy of Music in New York City, the Cupertino, California

    • Bank of America Merrill Lynch (BofA Merrill) is introducing a new solution for other financial institutions (FIs) in the interbank payment system to automate foreign exchange (FX) conversion. The new solution, AutoFX, aims to make it easier for smaller banks to streamline cross-border payments for their customers by automating foreign exchange conversion before the transaction occurs,

    • It was a good week for wearables and their future, as the devices continued to show indications of strong promise on the B2C and B2B fronts. A sizzle in its own right – and also possibly a sizzle within a sizzle for payments and commerce players who may stand to see their boats lifted by wearables’ rising

    • Data from the Commerce Department Friday (October 26) show an initial reading of GDP growth for the third quarter at 3.5 percent annualized, boosted by consumer spending. Though the latest headline number represents a slowdown from the second quarter’s 4.2 percent growth rate, that slowdown had been expected. In addition, the 3.5 percent showing was

    • Ripple said that its revenues related to the sale of the digital asset known as XRP gained ground in the third quarter of this year, more than doubling over the second quarter (that is, sequentially). The company said in its third-quarter report on XRP markets that it sold $163.3 million in the latest period, up

    • Gab, the social network that had a big following among the far right, has been taken offline after GoDaddy, the domain provider, gave it 24 hours to find a new service provider. The Verge, citing GoDaddy, reported the move on the part of the domain provider came after PayPal, Medium, Stripe and Joyent blocked Gab this past

    • Halloween, the annual celebration of the spooky and supernatural, is just a couple of days away. For many in payments and the vast ecosystem that it powers, the scariest thing about Oct. 31 might not be the sight of a kid in a full-on Frankenstein costume at the door on Halloween night asking for candy.

    • According to the latest figures available from the National Institute of Mental Health, approximately one in five Americans — 45 million people — are afflicted by some type of mental health condition. Despite the fact that mental health is a widespread problem in the U.S., there are several barriers to accessing services — including geography.

    • When it comes to two-day shipping, Amazon is king: The eCommerce retailer’s Prime service offers free two-day shipping on eligible orders to its more than 100 million members. And the company says it is ready to take on the holidays, with more than 100 million Prime items eligible for free two-day shipping – and a