Fri. Feb 3rd, 2023

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The Justice Department filed an antitrust lawsuit Thursday that seeks to block Visa Inc.’s $5.3 billion deal to acquire Plaid Inc., a key player in the financial-technology space.

The department brought the case in a Northern California federal court, alleging the deal would eliminate the nascent but significant competitive threat that Plaid poses to Visa in the online debit market. The acquisition would allow Visa to unlawfully maintain a monopoly in online debit, leading to higher prices, less innovation and higher entry barriers for online debit services, the department alleged.

“If allowed to proceed, the acquisition would deprive American merchants and consumers of this innovative alternative to Visa,” said Assistant Attorney General Makan Delrahim, the department’s antitrust chief.

“American consumers and business owners increasingly buy and sell goods and services online, and Visa—a monopolist in online debit service—has extracted billions of dollars from those transactions,” Mr. Delrahim said.

A Visa

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A Masters badge is one of the most coveted tickets in sports, not just because you get to roam the grounds of Augusta National, but because you get to roam the fabled gift shop of Augusta National. What good’s a trip to the Masters if you can’t tell everyone you were there?

Augusta National doesn’t release figures on how much merchandise it sells each year, but if you figure that virtually every person who walks through the club’s gates drops at least three figures, and sometimes much more, you can start to get an idea of how much we’re talking here. The next SEC football game or golf outing in the Southeast where someone’s not wearing Masters gear will be the first one.

(Courtesy AGNC)(Courtesy AGNC)

The beauty of Augusta National. (Courtesy AGNC)

On the list of challenges and missed opportunities regarding this year’s Masters, the question of how to get souvenirs

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Small businesses led by women, which have been hit disproportionately hard by the coronavirus pandemic, will soon get new backing from Mastercard. In a statement released last month, the financial services giant reaffirmed a prior goal to help 25 million women entrepreneurs and 50 million small businesses prosper through better access to the digital economy — and bolstered the commitment with a new partnership. 

Mastercard and its Mastercard Impact Fund are collectively putting a new $20 million worth of investment to work through CNote, an impact investment fund founded by women. The money will be used in CNote’s impact management Promise Account. The partners say they hope the additional funding will help female and minority owned businesses to grow and recover from the pandemic and related economic disruptions.

The recent Small Business Summit run for free by Mastercard in partnership with Create & Cultivate is also testament to these efforts.

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How do you confront business failures and transform setbacks into opportunities? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world. 

Answer by Kara Goldin, Author of #Undaunted, Founder & CEO of HINT, Unstoppable Pod, in their Session: 

I’m pretty resistant to labeling anything a failure. In my new book, Undaunted, I talk about Hint’s partnership with Starbucks, and the sudden decision they made to remove us from their 10,000 stores (turned out that they needed to make room for higher-margin food items). That was a tough day, for sure. And

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Migrant healthcare workers are having to return to their countries of origin, potentially hampering Britain’s response to the second wave of coronavirus, after the expiry of visas to support the NHS, trade unions and charities have warned.

a person sitting on a bed: Photograph: Hannah McKay/AFP/Getty Images

© Provided by The Guardian
Photograph: Hannah McKay/AFP/Getty Images

Unison has called on the government to stop forcing out key workers in the health and care sectors and to stop barring potential new ones from coming to work here.

Along with key workers forced to return to their home countries, many who are still in the UK are struggling to renew their visas due to delays and prohibitive costs and have become overstayers as a result, something which can further hamper their ability to renew their visas.

Unison says that the policy is having a serious impact during the second wave of the pandemic and at a time when there are 122,000 vacancies

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Before business school Cindy Lai spent her career in precious metals, dentistry, and aerospace. The thread that connected each role? Data analytics. 

The Master’s in Business Analytics student found that she was constantly dealing with and analyzing data. It’s why she went to business school; she wanted to build her analytical skillset and network of data professionals to enhance her career.

She was stuck on where to go, but after reading a biography of US financier, Bernard Baruch, she came across Baruch College’s Zicklin School of Business, and the new Master’s in Business Analytics—her cohort are the first to enroll. 

The school has a strong reputation, she says, and the lure of studying in Manhattan and learning from established professors who also teach at NYU and Columbia was a big pull factor. 

With her mind on a career in data, how does the program set students up for their future

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Mastercard has welcomed 10 fintechs from around the world to participate in its award-winning startup engagement program, Start Path, to scale the future of commerce.

From bridging the digital divide for the next billion mobile users to addressing the needs of the underbanked and beyond, Mastercard is helping fintechs accelerate the way they change the world.

Mastercard will work with these companies through a six-month program to co-innovate and uncover opportunities that leverage Mastercard’s technology, expertise and network to drive the future. Mastercard’s collaborative approach to innovation means investing in solutions that bring more people into the digital economy, instill trust at every transaction and protect the identity of people and things.

With the accelerated shift to digital experiences and rapidly evolving consumer behaviors, COVID-19 has created an immediate need for innovative technology solutions, and partnership opportunities abound. In both developed and developing areas of the world, technology

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(Bloomberg) — The U.S. Justice Department sued to block Visa Inc.’s $5.3 billion acquisition of Plaid Inc., accusing Visa of trying to buy the financial-technology firm to eliminate an emerging threat to its online debit business.

Visa Inc. credit cards are arranged for a photograph in Washington, D.C., U.S., on Monday, April 22, 2019. Visa Inc. is scheduled to release earnings figures on April 24.

© Bloomberg
Visa Inc. credit cards are arranged for a photograph in Washington, D.C., U.S., on Monday, April 22, 2019. Visa Inc. is scheduled to release earnings figures on April 24.

The Justice Department said in an antitrust complaint filed Thursday in federal court in San Francisco that the deal for Plaid would illegally extend Visa’s dominant position and should be stopped.


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“By acquiring Plaid, Visa would eliminate a nascent competitive threat that would likely result in substantial savings and more innovative online debit services for merchants and consumers,” the government said.

The Justice Department’s case hinges on the fact that Visa handles the lion’s share of debit transactions in the U.S.,

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COSTA MESA, Calif.–(BUSINESS WIRE)–While businesses worldwide have started to see their operations stabilize, they will be tested once again as higher expectations of the digital experience are on the rise. According to Experian’s latest Global Insights Report, 60 percent of consumers have higher expectations of their digital experience than before Covid-19.

High expectations for security and convenience, compounded by the increased demand for online payments, banking and shopping, are pushing businesses to re-imagine the customer journey and the investments needed to drive future growth. In fact, the study found that one in three consumers are only willing to wait 30 seconds or less before abandoning an online transaction, specifically when accessing their financial accounts. While half of the businesses surveyed have either mostly or completely resumed operations since Covid-19 began, only 24 percent are deliberately making changes to their digital customer journey.

“Not only have more

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Corporate spend is in a slump, and business trips remain off the table. For the many business travel and expense management FinTechs in the space today, the current market is far from favorable.

But companies large and small are still making purchases, and with the pandemic fueling the need for contactless payments, commercial card technology adoption is on the rise. T&E company TravelBank is taking this period to focus on innovation and address the employee spend pain points that continue to plague companies, even amid a business travel downturn, says the firm’s Co-founder and CEO Duke Chung.

Speaking with PYMNTS, Chung discussed the importance of organizations being able to consolidate card spend data even when working with multiple issuers. Plus, he provided his outlook for the market ahead, including when business travel may recover, and how that post-pandemic trajectory could alter the commercial

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