Hacker News with Generative AI: Fintech

CFPB Orders Operator of Cash App to Pay $175M and Fix Its Failures on Fraud (consumerfinance.gov)
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) ordered Block, the operator of the peer-to-peer payments app Cash App, to refund and pay other redress to consumers up to $120 million and pay a penalty of $55 million into the CFPB’s victims relief fund.

Financial Regulation, Fintech, Consumer Protection, Fraud

3 points by cbrozefsky 6 hours ago | 0 comments

Lawsuit:PayPal Accused of Poaching Commissions Via Its 'Honey' Browser Extension (law.com)
Fintech giant PayPal was hit with a proposed class action on Sunday for allegedly pocketing sales commissions belonging to YouTube influencers for promoting products and services in their content.

Fintech, Lawsuits, Class Action, E-commerce, YouTube

5 points by xbmcuser 17 days ago | 0 comments

Creem: The payment platform that calls BS on hidden fees (shipandsip.substack.com)
Co-founders Gabriel and Alec are two builders from the blockchain & crypto space who decided to reshape fintech for small indie entrepreneurs and startups.

Fintech, Startups, Payment Platforms, Blockchain, Crypto

9 points by John_McT 23 days ago | 8 comments

Yotta Bank and the Problem with Fintech (Patrick Boyle) [video] (youtube.com)

Fintech, Banking, Video, Criticism

62 points by mxschumacher 48 days ago | 61 comments

Formance – The Color of Money: Towards a New Data Model for Fintech, Part II (formance.com)
Earlier, we discussed the concept of promises, and how fintechs should see themselves as being in the business of managing warehouses of promises, that is, managing promises between banks and clients on their behalf. But because promises are non-fungible, warehousing will require a new ledger semantics, one that will ultimately make auditing transactions easier and that provides greater protection for customers and other fintechs in the value chain.

Fintech, Data Models, Auditing, Promises, Ledger Semantics

9 points by lifeisstillgood 49 days ago | 6 comments

Engineers do not get to make startup mistakes when they build ledgers (alvaroduran.com)
Not losing track of money is the bare minimum for fintech companies.

Fintech, Startups, Software Engineering

590 points by fagnerbrack 50 days ago | 551 comments

Americans see their savings vanish in Synapse fintech crisis (cnbc.com)

Financial Crisis, Fintech, Savings, Economics, United States

258 points by hunter2_ 56 days ago | 235 comments

Americans see their savings vanish in Synapse fintech crisis (cnbc.com)

Finance, Fintech, Economics, Consumer Issues

14 points by twiddling 57 days ago | 5 comments

Unified Checkout: Streamlining Uber's Payment Ecosystem (uber.com)

Unified Checkout, Payments, Fintech, Uber, Business

26 points by timbilt 64 days ago | 1 comments

Cash App migrated 400TB of data to PlanetScale's cloud (planetscale.com)
Cash App's move to PlanetScale resulted in streamlined database operations, improved performance, and reduced operational overhead.

Cloud Computing, Database Management, Software, Fintech, Case Study

50 points by mschoening 66 days ago | 14 comments

Stripe Confirms Plans to Acquire Stablecoin Platform Bridge (bloomberg.com)
Stripe Inc. co-founder and Chief Executive Officer Patrick Collison confirmed in a X post on Monday that the payments company plans to buy stablecoin startup Bridge.

Stripe, Fintech, Cryptocurrency, Acquisitions, Stablecoins

4 points by thesecretceo 87 days ago | 1 comments

Stripe in talks to acquire Bridge for $1B (techcrunch.com)
Stripe is in talks to acquire stablecoin platform Bridge for a whopping $1 billion, according to Forbes.

Stripe, Acquisitions, Fintech, Crypto

14 points by pseudolus 92 days ago | 9 comments

Ask HN: Do we need to pay billions in fees to Stripe, Block, PayPal and Visa/MC? (ycombinator.com)

Fintech, Payment Processing, Fees, Online Payments

257 points by OnuRC 154 days ago | 359 comments

Venmo and Zelle May Not Be Free for Much Longer (bloomberg.com)

Finance, Payment Processing, Fintech, Business

15 points by cwwc 170 days ago | 19 comments

Thousands ofAmericans got caught in fintech and lost access to bank accounts (cnbc.com)

Fintech, Banking, Consumer Issues, Financial Technology

32 points by ValentineC 197 days ago | 11 comments

Revolut CEO Storonsky Builds Side Bet to Disrupt Venture Capital with AI (bloomberg.com)