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Tag: payments

Square loses head of payments to Visa

Square loses head of payments to Visa

Finance
Mary Kay Bowman, head of payments at Square is going to Visa to be new head of seller solutions, reporting to Chief Product Officer Jack Forestell. Visa announced the hire in a blog post Friday. Square's shares went slightly negative, about 1 percent, after the announcement. Bowman's departure from Square comes just months after CEO Jack Dorsey lost key deputy and CFO Sarah Friar, regarded by Wall Street as a "rockstar CFO." Bowman was a big hire for Square in 2015. She came from Amazon, wher...
Rent, mortgage payments are hard to meet for workers entangled in the government shutdown

Rent, mortgage payments are hard to meet for workers entangled in the government shutdown

Finance
On Christmas Eve, Cory Binsfield, a landlord in Duluth, Minnesota, received bad news from a couple of his tenants: their rent will be late. Normally, Binsfield dings tenants who are more than five days behind with an 8 percent late fee and if he doesn't see their payment for two weeks, the lawyers get called. He's making an exception this time, however. "I just said 'Don't worry about it'," Binsfield, 54, said. "It's not the tenant's fault." The two renters are currently ...
Student borrowers battling cancer can now postpone their payments

Student borrowers battling cancer can now postpone their payments

Finance
Student loan borrowers with cancer can now pause their payments. Under the rule, included in a recent bipartisan congressional spending package, borrowers are exempt from student loan payments throughout their treatment for cancer and then for six months afterward. Additionally, interest will not accrue during the postponement. Some cancer patients can rack up an extra $ 45,000 in student debt during their treatments, according to Critical Mass: The Young Adult Cancer Alliance. "Cancer patients should not have to worry about their student loan payment...
Budget 2018: Contractors face higher tax and NI payments

Budget 2018: Contractors face higher tax and NI payments

Business
Hundreds of thousands of private-sector contractors face higher tax and National Insurance (NI) bills from April 2020.The chancellor announced that tighter tax rules for those working in the public sector will be extended to those working for private firms. The rules, known as IR35, are designed to hit those deemed by HM Revenue and Customs (HMRC) to be employees.Among those affected will be IT contractors, engineers and consultants.The crackdown is the biggest revenue-raising measure in this year's Budget. Critics accused the chancellor of hurting thousands of people who are self-employed, and burdening businesses too.But the Treasury insisted that the reforms would not affect anyone who was genuinely self-employed.How will the new rules work?For IR35 to...
BA hacked: 380,000 card payments 'compromised'

BA hacked: 380,000 card payments 'compromised'

Business
Shares of British Airways' parent company IAG fell around 4% as markets opened on Friday morning, hours after the airline said the credit card information of at least 380,000 customers had been "compromised" in a data theft. More than £500m was wiped of the airline group's market value as a result, before the share price rallied to being down just 2% on the day.The airline said people using BA.com and its mobile app for flight bookings were targeted by hackers between 21 August and 5 September.Information stolen includes customer names, email addresses, home addresses and payment card information - but not travel or passport details. We are aware of reports of a data breach affecting British Airways and are working with partners to assess ...