FINX

Intuit Inc. (NASDAQ:INTU) shares are trading lower after the company announced a reorganization plan aimed at reallocating resources to its key growth areas. As part of this plan, the company will lay off approximately 1,800 employees and close its Boise and Edmonton sites. The company plans to hire a nearly equivalent number of employees in fiscal 2025 to support its growth initiatives, expecting overall headcount to increase. The reorganization will incur charges estimated between $250 million and $260 million, primarily in the fourth fiscal quarter ending July 31, 2024. These charges include $217 million to $227 million for severance payments and employee benefits, and $33 mil

Affirm Holdings Inc (NASDAQ:AFRM) announced on Monday that the personal information of its card users was compromised due to a cybersecurity incident at Arkansas-based Evolve Bank and Trust. The breach occurred last week and resulted in customers’ data being leaked on the dark web. Evolve Bank, a third-party issuer of Affirm cards, confirmed the incident but stated that Affirm’s systems remained uncompromised. Affirm cardholders can continue to use their cards without interruption, as the breach did not affect Affirm’s infrastructure, Reuters reports. A spokesperson for Evolve Bank mentioned that law enforcement agencies have been engaged to assist with the investigation and resp

BofA Securities analyst Jason Kupferberg maintained a Neutral rating on  PayPal Holdings, Inc. (NASDAQ:PYPL) at a price target of $74. The analyst writes that several announcements in the payments industry highlight the company’s ongoing competitive challenges, which resulted in shares retracting much of last week’s gains. This week, Apple Inc. (NASDAQ:AAPL) kicked off the iOS 18 update, which included a new “Tap to Cash” service. The analyst expects “Tap to Cash” feature to pose more competition for Venmo than Cash App, considering end-user demographics. Moreover, Apple announced plans to integrate Affirm Holdings, Inc.‘s (NASDAQ:AFRM) payment products into Apple Pay for U.S. us

Affirm Holdings, Inc (NASDAQ:AFRM) announced new payment options, Pay in 2 and Pay in 30, to offer more flexibility and affordability for consumers using Affirm’s app. These options allow consumers to split their purchase into two interest-free payments or pay in full within 30 days without any late fees or hidden charges. Vishal Kapoor, Head of Product at Affirm, highlighted that these new options cater to the 80% of e-commerce transactions in the U.S. that are under $150, providing more choices and meeting consumers’ budget preferences. Also Read: Visa Rolls Out New Tech Rivaling Apple Pay, Teams Up with Affirm for Easier Transactions The rollout of Pay in 2 and Pay in 30 has a

Affirm Holdings, Inc (NASDAQ:AFRM) announced an expanded partnership with Alterra Mountain Company. The agreement allows eligible travelers to pay over time for Ikon Passes, local mountain passes, lodging, and lessons in the U.S. and Canada. By choosing Affirm at checkout, consumers can split purchases into monthly payments with no hidden fees or late charges. This partnership aims to enhance the purchase experience for Alterra’s guests and drive more value through increased payment flexibility. Also Read: Visa Rolls Out New Tech Rivaling Apple Pay, Teams Up with Affirm for Easier Transactions The expanded partnership positions Affirm to be available “to even more skiers and

PayPal Holdings Inc (NASDAQ:PYPL) reported fiscal first-quarter revenue growth of 9% year-over-year to $7.7 billion, beating the consensus estimate of $7.5 billion.  The company reported quarterly adjusted EPS of $1.08 per share, missing analyst estimates of $1.22. Total payment volumes increased 14% year-over-year to $403.9 billion in the quarter. Payment transactions were up 11% in the quarter, and payment transactions per active account increased 13% on a trailing 12-month basis. Total active accounts decreased by 1% to 427 million. The operating margin expanded 84 basis points to 18.2%, and the adjusted operating income increased 15% year over year to $1.4 billion. Operating

PayPal Holdings, Inc (NASDAQ:PYPL) has introduced Tap to Pay on Apple Inc (NASDAQ:AAPL) iPhone for Venmo business profile and PayPal Zettle users in the U.S., allowing users to accept contactless payments directly on their iPhones without extra cost or hardware.  This initiative is part of PayPal’s commitment to helping small businesses expand their sales, grow their operations, and improve their financial management.  With consumers’ increasing preference for cashless transactions, Tap to Pay on iPhone offers small businesses a quick, easy, and affordable solution to adapt to this change.  Also Read: PayPal Cuts 9% of Staff in Efficiency Drive Nitin Prabhu, VP at PayPal, emphasi

Tax season officially started this week with Monday being the first day when taxpayers can begin filing tax refund documents with the Internal Revenue Service (IRS). What makes this season special is the launch of a new program by the IRS that could mean the beginning of the end for a substantial portion of business from tax preparation companies. While tax documents can already be filed, most users can expect to receive documents from employers, mortgage companies and others during the coming weeks. These need to be submitted before the April 15 deadline, which is adopted by most states. Tax refunds can be expected to hit accounts within 21 days, if filing was done electronically.