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Corporate payments firm Corpay and global asset management firm TPG have entered into a deal to acquire accounts payable (AP) automation software provider AvidXchange.
Financial Technology Partners and Barclays served AvidXchange as financial advisers on this transaction, according to a Tuesday (May 6) news release from AvidXchange.
“TPG and Corpay will acquire AvidXchange for $10.00 per share in...
Rite Aid has claimed in a court filing Tuesday (May 6) that its inability to sustain a successful recovery and its subsequent return to bankruptcy protection is primarily due to sparsely stocked store shelves and to trade-down from lower-income consumers.
In this court declaration, Marc Liebman, Rite Aid’s chief transformation officer, detailed how post-emergence inventory shortages created a “...
A $22 billion acquisition is a tough act to follow. But TSYS-parent Global Payments is betting big on its $600 million synergy target as it pushes forward with the $22.7 billion acquisition of Worldpay, a move that is expected to shake up the competitive dynamics in merchant services and payments technology.
The acquisition, announced in April and expected to close in the first half of 2026, will...
The pay later economy got a big boost late in the day Tuesday (May 6) when the Consumer Financial Protection Bureau (CFPB) announced in a terse, one-paragraph press release that it will rescind the bureau’s earlier proposal to treat buy now, pay later (BNPL) companies like credit card companies and treat BNPL funding as a credit arrangement.
The statement (in its entirety) follows: “The Consumer...
Indiana has passed earned wage access (EWA) legislation into law.
“Indiana’s HEA 1125 codifies the industry’s best practices into law, including recognizing that On-Demand Pay is a unique financial product, and mandating appropriate consumer protections,” EWA provider DailyPay said in a Tuesday (May 6) news release emailed to PYMNTS.
The company added that Indiana joins other states, including...
Arvind Krishna, the CEO of IBM, said his company’s investment in artificial intelligence (AI) has ultimately led to a rise in employment in the firm.
According to a Tuesday (May 6) report from The Wall Street Journal (WSJ), IBM replaced a few hundred human resources staffers with AI agents, bots that can perform tasks like analyze spreadsheets, conduct research and draft emails autonomously....
Donald Trump promised to transform the U.S. into the “crypto capital of the planet,” and he will need cryptocurrency legislation for his administration to do it.
But while bills for both stablecoin regulations and market structure legislation were expected within his administration’s first 100 days, little concrete progress has been made by lawmakers in advancing a comprehensive domestic policy...
Mergers and acquisitions (M...
Google is providing early access to an updated version of its Gemini 2.5 Pro multimodal artificial intelligence (AI) model, the company said in a Tuesday (May 6) bog post.
Called Gemini 2.5 Pro Preview, the model has “significantly” improved capabilities for coding, especially for interactive web applications, according to the company.
Google said it released the preview model early due to “...
e-Signature platform Agree.com has reportedly raised $7.2 million in new funding.
The company announced its seed round in an interview with TechCrunch Tuesday (May 6), arguing that it thinks it can compete with the likes of Docusign because of a key differentiator: its platform offers payment processing and invoicing.
“At the end of almost every signature, someone has to pay someone money,” CEO...