Latest news with #TakisGeorgakopoulos
Business Wire
03-07-2025
- Business
- Business Wire
INSERTING and REPLACING Fiserv and PayPal Expand Partnership to Advance Stablecoin Payments
SAN JOSE, Calif. & MILWAUKEE--(BUSINESS WIRE)--Insert before the "About PayPal" paragraph of release issued June 23, 2025: Any materially new product or service requires approval from the New York State Department of Financial Services (NYDFS). As of June 23, 2025, the NYDFS has not provided any such approval. The updated release reads: FISERV AND PAYPAL EXPAND PARTNERSHIP TO ADVANCE STABLECOIN PAYMENTS Two firms aim for interoperability between FIUSD and PayPal USD, removing friction and driving innovation across global payments and commerce use cases Fiserv, Inc. (NYSE: FI) and PayPal Holdings, Inc. (NASDAQ: PYPL), today announced that they are partnering to build future interoperability between FIUSD and PayPal USD (PYUSD), to allow consumers and businesses to move funds domestically and internationally. Combining the global reach of Fiserv and PayPal across banking, consumer, and merchant payments, interoperability will allow both firms to further expand the use of stablecoins and programmable payments around the globe. 'Our expanded relationship with PayPal furthers our mission to scale stablecoin-powered payments—leveraging our position at the intersection of banking and commerce to build more efficiency and optionality into the payments ecosystem,' said Takis Georgakopoulos, COO at Fiserv. 'Businesses around the globe face common problems. They don't receive funds fast enough, they are combating inflation, and many face currency value fluctuations. Blockchain-based technology solves many of these challenges by enabling faster transfers, at any time of day, nearly anywhere around the globe,' said Frank Keller, Executive Vice President at PayPal. 'Together with Fiserv, we will help bridge the gap between traditional financial systems and new technologies, enabling faster, more cost-effective, and globally accessible payment options for merchants.' The two companies will strive to identify key opportunities for integrating FIUSD and PYUSD into payment flows, including cross-border transactions, payouts, and merchant solutions. The partnership underscores both companies' commitment to driving innovation in the financial services industry and empowering businesses and consumers with cutting-edge payment technologies. Today, Fiserv announced it will develop and launch FIUSD, a bank-friendly stablecoin which will enable financial institutions of all sizes to offer next-generation banking solutions to their consumer and commercial clients. Launched in 2023, PYUSD has been successfully used to fund investments in startups, fund cross-border transfers via Xoom, and reconcile vendor invoices. IMPORTANT DISCLOSURES This press release is for informational purposes only and is not intended as financial, investment, or other advice. The use and exchange of digital assets, including stablecoins such as PYUSD, may involve complex risks, including but not limited to: Network & Custody Risks: Transactions on blockchains – and the blockchains themselves – are subject to a range of operational, technological, and security risks. Users are responsible for safeguarding their private keys and/or working with reputable custodians/wallet providers; loss of access may lead to the permanent loss of funds. Third-Party Reliance: Digital assets rely on third-party blockchain software and network infrastructure. Neither PayPal nor Paxos Trust Company, LLC ('Paxos') has control over blockchain networks and is not liable for any blockchain's performance, security, or ongoing availability. Redemption and Market Risk of Fiat-Backed Stablecoins: U.S. dollar- backed stablecoins that are regulated by the New York State Department of Financial Services, are designed to maintain a stable value of one U.S. dollar per token. Individuals or entities with direct redemption access via PayPal, Paxos or authorized partners are guaranteed to convert PYUSD 1:1 for US dollars. All other parties may be limited to selling PYUSD at market prices. Regulatory Uncertainty: Regulatory frameworks for digital assets are evolving. Availability or legality of digital asset services may change without notice, and services may be restricted, suspended, or terminated in certain jurisdictions as required by law or regulation. No FDIC/SIPC Protection: Digital assets, including PYUSD, are not insured by the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC). Terms & Conditions: Use of PYUSD is subject to Paxos and PayPal's Terms & Conditions, including disclaimers on liability and user responsibilities. Transactions are irreversible once recorded on the blockchain. You are advised to review and understand all applicable terms. Service Availability & Illegal Activity: PYUSD and related payment services may be suspended or terminated due to events or investigations involving illegal activity, system failure, or other factors beyond PayPal's control. Forward-Looking Statements: Statements in this press release regarding potential product features, expansion plans, and regulatory outcomes are forward-looking and subject to change. Actual results may differ materially due to known and unknown risks, uncertainties, and other factors. Any materially new product or service requires approval from the New York State Department of Financial Services (NYDFS). As of June 23, 2025, the NYDFS has not provided any such approval. About PayPal USD (PYUSD) PayPal USD is issued by Paxos Trust Company, LLC, a fully chartered limited purpose trust company. Paxos is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal and Venmo at a rate of $1.00 per PayPal USD. PayPal, Inc. (NMLS ID #: 910457) is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. About Fiserv Fiserv, Inc. (NYSE: FI), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover®, the world's smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World's Most Admired Companies™. FI-G
Yahoo
26-06-2025
- Business
- Yahoo
Mastercard expands partnership with Fiserv to integrate FIUSD stablecoin
Mastercard has expanded its collaboration with Fiserv to incorporate the FIUSD token, a new programmable blockchain-based stablecoin, into its global payment network. The partnership aims to address the practical use cases and challenges associated with the adoption of stablecoins. It aims to facilitate the transition between fiat currencies and FIUSD for both consumers and businesses for on/off-ramping processes. Mastercard will also enable FIUSD as a settlement option for its global acquirers, allowing merchants to receive payments in FIUSD regardless of the payment method used. Mastercard Americas co-president Chiro Aikat stated: 'Leveraging the power of the Mastercard network, as well as our deep capabilities across digital assets, we are creating a robust ecosystem that bridges traditional financial services with digital assets. 'Underpinned by our commitment to providing seamless, secure and programmable transactions, we are excited to bring Fiserv's FIUSD to our customers, consumers and businesses around the world.' The collaboration will leverage the Mastercard Multi-Token Network (MTN), allowing Fiserv's Digital Asset Platform, which is powered by Finxact, to support programmable on-chain commerce for banks. Furthermore, it will issue stablecoin-linked cards, permitting the use of FIUSD for transactions at any Mastercard-accepting location around the world. Mastercard One Credential will also be available, providing consumers with the option to select their preferred payment method, including stablecoin balances, in addition to traditional debit and credit. Fiserv chief operating officer Takis Georgakopoulos said: 'FIUSD presents Fiserv customers with access to a new, more efficient, and interoperable digital asset service for their banking and payment flows. 'Our work with Mastercard is promoting greater reach and utility of stablecoins by helping our financial institutions and merchants enable greater payments choice to their customers." This expansion follows the Fiserv announcement to launch a new digital asset platform by the end of 2025. The platform will include the FIUSD stablecoin and is set to be integrated into Fiserv's existing banking and payment infrastructure. "Mastercard expands partnership with Fiserv to integrate FIUSD stablecoin " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNET
25-06-2025
- Business
- CNET
Credit, Debit or Crypto? Mastercard Says It'll Add Stablecoin as a Payment Option
How does a carousel of currencies -- cash, credit, crypto, installment -- attached to a single payment credential sound to you? Well, that's what Mastercard is touting with its One Credential, noting a particular interest in attracting Gen Z. Mastercard announced it's partnering with payment processor Fiserv to bring its recently announced stablecoin, FIUSD, to the Mastercard network. That means Mastercard One Credential users will be able to choose to pay with FIUSD, cash or credit at checkout -- all with one payment option. "To date, stablecoins have largely been a store of value," Takis Georgakopoulos, chief operating officer at Fiserv, said in a statement. "Our work with Mastercard is promoting greater reach and utility of stablecoins by helping our financial institutions and merchants enable greater payments choice to their customers." Mastercard announced earlier this month that it had partnered with PayPal to offer installment payments on its One Credential, which could offer a lot of flexibility for choosing payments. That could be particularly appealing to a Gen Z audience that embraces technology along with alternative payment options such as Buy Now Pay Later. Mastercard One Credential was launched back in February, but doesn't seem to be available yet. We reached out to Mastercard for clarification and will update this story with the company's response. Here's what the new payment option could look like and how to decide if you should use it. What is Mastercard One Credential? Mastercard One Credential is Mastercard's way of housing different payment options under one roof. So, before you make a purchase, you can choose between debit, credit, BNPL or stablecoin. You'll also be able to set spending limits per fund type, according to Mastercard. If you want to pay your daily expenses under a certain amount with credit, you can have it set to automatically choose that fund type. Expenses over that limit can be set to a different currency type, and so on and so forth. The company could be trying to garner more attention and customers, considering that some of the credit card market has given way beneath a surge of BNPL popularity and other alternative financing options. Additionally, President Donald Trump's second term has brought in a resurgence of crypto popularity -- so the two go hand-in-hand. What is FIUSD? FIUSD is Fiserv's new form of digital currency that's expected to be added to existing banking and payment infrastructure by the end of the year. A stablecoin is a digital currency that tries to obtain a stable price, instead of experiencing the volatility that most cryptocurrencies are known for. By linking it to a more stable form of currency, like the US dollar, it (in theory) should experience fewer dramatic swings in value than cryptocurrency, whose value is determined by market demand and supply. That's what the "USD" in "FIUSD" means -- it's pegged to the US dollar. When it's available, you can use FIUSD like you would any other stablecoin, such as circle (USDC) or tether (USDT). Should you use crypto over cash or credit? While Mastercard is promoting its One Credential as a single-stop payment option, the payment option isn't available yet. As far as using crypto instead of cash, it depends on the situation. Many places may not accept crypto as a payment option. And even if you can pay with crypto, the payment facilitator, the cryptocurrency exchange and the merchant may all charge a fee for using crypto. It's also unlikely that crypto payments would offer the same protections that credit cards do, and you'll want to be security-conscious when dealing with crypto, as it provides more opportunity for scams than other investment types. However, if you're already invested in crypto, having it as a payment option may offer greater flexibility.
Yahoo
24-06-2025
- Business
- Yahoo
Mastercard Joins With Fiserv to Promote New Stablecoin
Mastercard said it was expanding its relationship with Fiserv to promote the financial tech company's planned stablecoin, FIUSD. Fiserv announced yesterday it expects to have FIUSD available by the end of this year. The two companies explained they hope to expand stablecoin adoption.A day after Fiserv (FI) announced it was planning to launch a new stablecoin called FIUSD, one of the financial technology firm's big customers is jumping on board. Mastercard (MA) on Tuesday said it is deepening its relationship with Fiserv in order "to integrate its new FIUSD token across a range of Mastercard products and services, expanding stablecoin adoption and utility for their shared customers around the world." It added that the two companies would work together to "explore key areas to solve for real-world challenges and opportunities for stablecoin adoption and utility." Chiro Aikat, co-president of the Americas for Mastercard, argued that the collaboration "is setting the stage for a new era, where stablecoins are as ubiquitous and trusted as fiat currencies, driving choice and innovation for all." Fiserv COO Takis Georgakopoulos explained that working with Mastercard will promote "greater reach and utility of stablecoins by helping our financial institutions and merchants enable greater payments choice to their customers." Fiserv plans to make FIUSD available by the end of the year. Shares of Fiserv advanced 1.3% in recent trading after gaining 4.4% yesterday. Mastercard shares were about 2.5% higher. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
24-06-2025
- Business
- Business Wire
Mastercard partners with Fiserv to accelerate mainstream stablecoin adoption
PURCHASE, N.Y.--(BUSINESS WIRE)--Mastercard is deepening its partnership with Fiserv, Inc. (NYSE: FI) to integrate its new FIUSD token across a range of Mastercard products and services, expanding stablecoin adoption and utility for their shared customers around the world. 'Leveraging the power of the Mastercard network, as well as our deep capabilities across digital assets, we are creating a robust ecosystem that bridges traditional financial services with digital assets," said Chiro Aikat, co-president at Mastercard. Share By offering FIUSD across Mastercard's global payments network, people and businesses can use the new, programmable, blockchain-based token across more than 150 million merchants. Mastercard and Fiserv will explore key areas to solve for real-world challenges and opportunities for stablecoin adoption and utility, including: Seamless on and off-ramping: The partnership can enable the efficient on/off-ramping of funds, allowing consumers and businesses to transition smoothly between fiat and FIUSD. Enabling merchants to settle in FIUSD: Mastercard can enable FIUSD as a settlement option for its global acquirers, helping merchants get paid in FIUSD, no matter how they are paid. This not only expands choice but also enhances operational efficiencies and delivers a seamless payment experience. Connectivity to the Mastercard Multi-Token Network (MTN): Fiserv's Digital Asset Platform, powered by Finxact, can leverage Mastercard MTN to bring off-the-shelf support for programmable, on-chain commerce for banks. Powering stablecoin-powered cards: Together, Fiserv and Mastercard will enable the issuance of stablecoin-linked cards for shared customers, allowing consumers and businesses to make FIUSD payments anywhere around the world where Mastercard is accepted. With Mastercard One Credential, consumers can also flexibly choose the payment type of their choice – from debit, credit to stablecoin balances. 'This work with Fiserv is setting the stage for a new era, where stablecoins are as ubiquitous and trusted as fiat currencies, driving choice and innovation for all,' said Chiro Aikat, co-president, Americas at Mastercard. 'Leveraging the power of the Mastercard network, as well as our deep capabilities across digital assets, we are creating a robust ecosystem that bridges traditional financial services with digital assets. Underpinned by our commitment to providing seamless, secure, and programmable transactions, we are excited to bring Fiserv's FIUSD to our customers, consumers and businesses around the world.' 'FIUSD presents Fiserv customers with access to a new, more efficient, and interoperable digital asset service for their banking and payment flows. To date, stablecoins have largely been a store of value. Our work with Mastercard is promoting greater reach and utility of stablecoins by helping our financial institutions and merchants enable greater payments choice to their customers,' said Takis Georgakopoulos, Chief Operating Officer, Fiserv. About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. About Fiserv, Inc. Fiserv, Inc. (NYSE: FI), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover ®, the world's smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500 ® Index and one of Fortune ® World's Most Admired Companies™.
