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Pex announced it has secured $160 million in funding, invested by Bluff Point Associates, with the capital to be used for product innovation, sales, and strategic growth. The company has raised approximately $180 million in total funding, manages about $11.7 billion in corporate spending, and counts clients including Live Nation and Tory Burch.
Harlow Payments last week appointed Evo Payments founder Ray Sidhom as Executive Chairman, with his son Chris Sidhom as President, working alongside CEO Diego Vazquez to advance acquisitions. Industry consolidation continues, with PayCompass CEO Justin Volrath believing that regulatory complexity and scale requirements will drive more M&A. Harlow plans to acquire 51%-70% stakes in companies while retaining management, building a financial ecosystem.
Mastercard launched a new fraud prevention program last week, aiming to collaborate with merchants and acquiring banks to combat fraud. The new rules require acquiring banks that process Mastercard payments to follow up on specifically flagged fraudulent activities within three days. The program, named the "Fraud Merchant Monitoring Program" (SMMP), took effect last Friday, following a similar initiative launched by competitor Visa last year. Industry experts note that this move reflects Washington's focus on consumer fraud issues, particularly cases where consumers are induced during authorized transactions.
Cross-border payment company Nium, after launching a stablecoin card issuance platform in March, acquired crypto digital wallet business Cypher this month to further expand its crypto services in the blockchain ecosystem. CEO Prajit Nanu stated that stablecoins are gaining regulatory momentum, and the company plans to transform Cypher into API infrastructure, considering more acquisitions in Latin America and Africa.
Oregon's financial regulators released a proposal last month that would require non-bank 'buy now, pay later' (BNPL) financing companies to obtain a payday loan or consumer finance license to operate. The American Fintech Council expressed opposition on Monday, and Klarna also criticized the draft as 'missing the point.'
The U.S. Department of Justice announced on Monday that Oregon payment processing broker Jeremy Todd Briley was sentenced to three years in prison for his role in a wire fraud scheme that defrauded consumers and businesses through fake online marketing companies. Briley pleaded guilty to one count of wire fraud in April and will also serve three years of supervised release following his prison term, in addition to forfeiting $460,000 in illegal proceeds.
M&A activity in the payment industry has accelerated noticeably this month, as the sector enters a season typically more active in the second half of the year. Reports that digital startup Stripe plans to acquire PayPal for $53 billion and that processor Fiserv may sell its debit network indicate that discussions between boards and investment banks are becoming more frequent. Some industry stocks have fallen sharply, such as Fiserv, which has dropped 70% over the past year, further strengthening the transaction motivation for both buyers and sellers.
Financial innovation is the engine of economic opportunity. The recent presidential executive order on fintech innovation matters because it points to a regulatory framework that makes it easier to build responsible tools. The author, Ballard Spahr attorney Joseph J. Schuster, argues that regulation should support a fair, competitive, and resilient financial system rather than protect legacy models. From 30-year mortgages to modern payment systems, innovative products need room to grow. The executive order focuses on regulatory modernization, aiming to clarify rules, encourage competition, and enable the next generation of financial products to be born in the United States.
Block launched the Neighborhoods loyalty program in October 2025, allowing Cash App users to order food from local Square merchants and earn Local Cash rewards. The program attracts merchants with a 1% processing fee (far lower than third-party platforms) and significantly increases user transaction frequency. Mizuho analysts believe this is key to Block building a two-sided network, but it is still in its early stages.