Core Viewpoint - Western Union has faced significant challenges in recent years due to increased competition from fintech companies and blockchain networks, which offer lower-cost money transfer options [1][6] Financial Performance - Western Union's stock has decreased by nearly 58% over the past five years, with quarterly revenue and net income showing a downward trend [2] - Revenue from the consumer money transfer business has declined by 8% year over year through the first three quarters of 2025, accounting for approximately 85% of total revenue [3] - Cash reserves fell from nearly $1.5 billion at the end of 2024 to $948 million by the end of Q3 2025, while debt remains close to $2.6 billion [5] Business Segments - The consumer money transfer segment remains the largest, allowing global money transfers with funds settling in minutes [2] - Despite challenges, Western Union's newer consumer services division has experienced a revenue increase of nearly 50% year over year in the same timeframe [4] - The company is launching its own U.S. dollar stablecoin on the Solana blockchain network, indicating a move towards innovation in payment solutions [4] Cash Flow and Shareholder Returns - Operating cash flow continues to cover the high dividend yield, which is now over 10%, and the company is actively buying back shares [5]

Core Insights - Visa has renewed its title sponsorship of the MAMA AWARDS through to 2029, highlighting its commitment to cultural commerce and cross-border engagement [2][5] - The 2025 MAMA AWARDS in Hong Kong attracted nearly 90% of overseas cardholders who purchased tickets during the Visa presale, indicating a significant boost to tourism and the local economy [2][3] Visa's Role and Strategy - Visa's partnership with CJ ENM aims to enhance the MAMA AWARDS' international status and expand its global fan base, reflecting a shared vision for the future of K-pop as a cultural platform [5][6] - The collaboration allows Visa to engage with younger consumers, including Gen Zs and Millennials, by providing seamless payment experiences that enhance fan engagement [5][6] Cultural Impact - The MAMA AWARDS has been pivotal in K-pop's global expansion, hosting events in various countries including Macao, Singapore, and the United States, thus reinforcing its cultural significance [3][4] - Visa's involvement in global events, such as the FIFA World Cup™ and the Olympic Games, positions it as a leader in facilitating cultural conversations and driving cross-border commerce [5][6]

Core Insights - TCI Fund Management's latest 13F filing highlights Chris Hohn's long-duration, quality-compounder equity strategy, with tactical adjustments in position sizes amid macro uncertainty [1] Positioning Shifts - Visa (V): TCI added 8,989,793 shares, increasing its position to 28.06 million shares valued at $9.58 billion, representing 18.2% of the portfolio, marking a 47% increase [3] - S&P Global (SPGI): TCI increased its stake by 98,247 shares to 11.19 million shares valued at $5.45 billion, making up 10.3% of the portfolio, reflecting a long-term accumulation strategy [5] - Moody's Corp (MCO): TCI added 61,500 shares, bringing its total to 13.31 million shares valued at $6.34 billion, which is 12.0% of the portfolio, indicating confidence in the credit rating agency sector [6] - Microsoft (MSFT): TCI trimmed its position by 973,027 shares to 16.59 million shares valued at $8.59 billion, representing 16.3% of the portfolio, likely for weight management rather than a change in thesis [7] - Canadian Pacific Kansas City (CP): TCI reduced its exposure by 2,961,150 shares to 49.87 million shares valued at $3.71 billion, which is 7.0% of the portfolio, indicating a balanced sizing approach [8] - Alphabet (GOOG): TCI trimmed its position by 5,369,416 shares to 7.60 million shares valued at $1.85 billion, representing 3.5% of the portfolio, reflecting competitive dynamics and margin volatility concerns [9][10] - Canadian National Railway (CNI): TCI reduced its stake by 4,221,292 shares to 18.77 million shares valued at $1.77 billion, which is 3.4% of the portfolio, suggesting a tighter capital allocation strategy [11] Portfolio Context & Themes - Structural Compounders > Cyclical Winners: TCI is focusing on businesses with long-duration cash compounding characteristics, such as Visa, Moody's, and S&P [13] - Selective Tech De-Risking: The trimming of Alphabet and Microsoft indicates caution regarding mega-cap tech valuations and competitive dynamics in AI [14] - Rail Exposure Right-Sizing: Reductions in CP and CNI reflect a disciplined approach to cyclical positioning rather than abandoning the rail theme [15] Big Picture Takeaways - TCI remains committed to owning the best businesses, sizing positions with conviction, and incrementally allocating capital during market dislocations [16]

Core Viewpoint - The article discusses the issue of "ghost deductions" associated with Zhongjin Payment, highlighting consumer complaints about unauthorized recurring charges and the company's response to these issues [5][6][25]. Group 1: Incident Overview - Users have reported unexpected deductions of fixed amounts (29.9 yuan or 39.9 yuan) from their bank accounts, attributed to Zhongjin Payment, without clear explanations for the charges [6][10]. - Many consumers discovered these deductions only after checking their bank statements, raising concerns about the transparency of the payment process [9][12]. - The customer service responses varied, initially denying refunds until users threatened to escalate complaints, indicating a lack of proactive communication from the company [12][13]. Group 2: Mechanism of "Ghost Deductions" - The phenomenon of "ghost deductions" is linked to users unknowingly signing "deduction agreements," allowing merchants to withdraw funds without further user confirmation [16]. - Unlike one-time payments that require user action, these agreements enable merchants to initiate deductions automatically, which can lead to unauthorized charges [17]. - The China Consumers Association has pointed out that some businesses exploit loopholes in small payment systems to facilitate these unauthorized deductions [18]. Group 3: Company Background - Zhongjin Payment, established in 2010, is a licensed internet payment institution that primarily facilitates corporate payments and does not directly initiate deductions [20][22]. - The company has seen significant growth, with transaction volumes exceeding 400 billion yuan in 2013 and reaching a trillion yuan by 2016, ranking fifth in the industry [23]. - In 2023, the company was acquired by Guangdian Yuntong, which now holds 90.01% of its shares, indicating a shift in ownership and potential strategic direction [23][24]. Group 4: Regulatory Changes - New regulations were introduced in December 2025, requiring platforms to notify users of upcoming deductions clearly, which aims to eliminate unauthorized charges in the future [18].

Visa Inc. (NYSE:V) ranks among the best most active blue chip stocks to buy now. On December 24, Baird reiterated its Outperform rating on Visa Inc. (NYSE:V) with a $425 price target based on the company’s announcement of a $500 million financing for its litigation escrow account, which will result in revisions to the rate of conversion of its class B-1 and B-2 common stock into class A common stock. According to Baird’s analysis of the arrangement, the litigation escrow funding establishes a pool for ba ...

Mastercard 在收购谈判未果后，正评估对区块链基础设施公司 Zerohash 进行战略投资。知情人士称，双 方此前就整体收购进行过磋商，估值最高曾达约 20 亿美元，但 Zerohash 选择保持独立，相关收购谈判 已结束；目前双方仍在讨论投资事宜。Zerohash 表示不考虑被收购，并将继续与 Mastercard 扩展商业合 作。Mastercard 对此未予置评。（CoinDesk） （来源：吴说） ...

Core Viewpoint - Mastercard is exploring a strategic investment in blockchain infrastructure firm Zerohash after acquisition discussions ended, as Zerohash chose to remain independent [1][2]. Group 1: Acquisition Talks - Mastercard was in late-stage talks to acquire Zerohash for up to $2 billion, but these discussions have concluded [2]. - Zerohash has stated it is not considering an acquisition by Mastercard and aims to maintain its independence to foster innovation [3]. Group 2: Investment and Market Activity - Despite the end of acquisition talks, investment discussions between Mastercard and Zerohash are ongoing [2]. - The crypto merger and acquisition landscape is becoming more active, with a shift towards proven infrastructure projects rather than speculative protocols [4]. Group 3: Company Background and Financials - Zerohash raised $104 million in a Series D-2 funding round in October last year, achieving a valuation of $1 billion [5]. - The funding round included participation from notable investors such as Morgan Stanley and Apollo-managed funds [6]. - Founded in 2017, Zerohash provides APIs and developer tools for financial institutions to integrate crypto services, reaching over 5 million users across 190 countries [7].

Core Viewpoint - PhotonPay has obtained a money transmitter license (MTL) from a US state financial regulator, enhancing its payment and funds transfer capabilities in the region [1] Group 1: Regulatory Approvals - The MTL is a regulatory requirement for businesses involved in money movement or payment services at the state level, complementing PhotonPay's prior registration as a Money Services Business (MSB) with the US Financial Crimes Enforcement Network (FinCEN) [1][2] - The combination of MSB and MTL approvals positions PhotonPay to further develop its operations in the US payments market [2] Group 2: Compliance and Security Enhancements - PhotonPay has reported improvements in customer and business verification (KYC, KYB), anti-money laundering measures, data security, and transaction monitoring to meet regulatory requirements and enhance operational reliability [2] - The company emphasizes that securing the MTL license strengthens its compliance architecture and reflects its commitment to risk management [4] Group 3: Future Expansion Plans - PhotonPay is actively working on obtaining relevant licenses in other regions, including Asia-Pacific, Europe, the Middle East, and additional parts of the Americas [3] - The company acknowledges the sophistication and complexity of the US regulatory landscape [3] Group 4: Technological Initiatives - PhotonPay participated in Circle's Arc public testnet, which aims to integrate real-world economic activity on-chain and evolve into an economic operating system for the internet [4][5]

Core Insights - Bullish predictions for Ethereum's price have emerged due to comments from Fundstrat's Tom Lee and a viral post highlighting institutional adoption of the blockchain [1][8] - Ethereum continues to trade below recent highs, with technical indicators suggesting caution in the near term [1] Institutional Adoption - Tom Lee emphasized a list of 35 major financial institutions adopting Ethereum recently, showcasing a significant institutional push [2][3] - Ethereum is described as the "1 choice for global financial institutions," with over 30 recent initiatives involving banks, asset managers, and technology companies [5] - Notable examples include Kraken's tokenized U.S. stocks and ETFs on Ethereum, Fidelity's tokenized money market fund, and BlackRock's staked ether ETF filing [5] Technological Developments - JPMorgan has migrated its tokenized deposit product to Ethereum's Base layer-2 network, while Stripe is expanding stablecoin-based subscriptions on the platform [6] - Google's development of an agent payments protocol utilizing stablecoins on Ethereum indicates growing adoption by technology firms [6] Market Sentiment - The influx of institutional announcements has led to increased bullish sentiment among traders, with some viewing Ethereum's recent price consolidation as a positive sign [7][8] - Despite the optimistic sentiment, analysts note that Ethereum has struggled to maintain key technical levels [8]

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Nearly a third of small businesses that assess credit card surcharges say that customers cancel purchases when they see the extra fee at checkout, according to J.D. Power survey released last week.  The data and analytics firm queried roughly 4,400 U.S. small businesses and found 35% include surcharges for customers who use credit cards, up slightly from 34% in th ...