Interchange | Jotup

Expensify Announces Q1 2024 Results

Retrieved on:

Thursday, May 9, 2024

Finally — and most exciting of all — we have made outstanding progress in developing New Expensify.

Key Points:

Finally — and most exciting of all — we have made outstanding progress in developing New Expensify.
But by this time next quarter, New Expensify and Expensify Travel are both expected to be producing new incremental revenue, as well as helping retain and expand existing customers for years to come.
Free Cash Flow Guidance: See Financial Outlook section for updated Free cash flow guidance for fiscal year ending December 31, 2024.
Expensify estimates Free cash flow of $11.0 million to $13.0 million for the fiscal year ending December 31, 2024.

Parsons Selected to Design the Future Newark Bay Bridge, Advancing Transportation throughout New Jersey

Retrieved on:

Monday, April 15, 2024

Jersey Avenue, New Jersey Turnpike, Safety, Newark Liberty International Airport, Travel, City, Turnpike, Transport, PSN, Life, Newark Bay, Environment, Airport, Interchange, Newark Bay Bridge, Quality of life, Parsons Corporation, Road

The final design is the first final design contract of the Newark Bay-Hudson County Extension Improvements Program, a critical modernization and safety program that will rebuild the 8.1-mile NJ Turnpike Extension from Interchange 14 in Newark to Jersey Avenue in Jersey City.

Key Points:

The final design is the first final design contract of the Newark Bay-Hudson County Extension Improvements Program, a critical modernization and safety program that will rebuild the 8.1-mile NJ Turnpike Extension from Interchange 14 in Newark to Jersey Avenue in Jersey City.
Parsons is leading the design effort from our Newark, NJ office.
The replacement of the Newark Bay Bridge represents a significant portion of the Program’s first project, which will reconstruct the Extension between Interchange 14 in Newark and Interchange 14A in Bayonne and Jersey City.
A new cable-stayed bridge will be built alongside the existing Newark Bay Bridge, during which time the existing bridge will remain operational.

Canada Plastics Pact Surpasses 100 Partners, Welcomes Six New Partners To Tackle Plastic Waste and Pollution

Retrieved on:

Tuesday, April 2, 2024

Denovia Labs is a research company working to reshape plastic waste management.

Key Points:

Denovia Labs is a research company working to reshape plastic waste management.
They have developed a proprietary innovative approach to transform various forms of plastic waste back to its base chemical building blocks.
Ocean Legacy Foundation is a Canadian-based non-profit organization that develops and implements worldwide plastic pollution response programs, with the goal to end plastic pollution.
This guidance was developed by a cross-section of CPP Partners to be used by all Canadian stakeholders that put plastics in the market.

Busey Bank Partners with CorServ to Implement a Modern Credit Card Program for Commercial Customers

Retrieved on:

Monday, April 8, 2024

Interchange, Treasury, Level 2, Busey Bank, Treasury management, EVP, Bank

ATLANTA, April 8, 2024 /PRNewswire-PRWeb/ -- CorServ, a company that empowers banks and fintechs with payment programs, has partnered with Busey Bank ($12.5 billion in assets) to launch a modern credit card program for their commercial customers.

Key Points:

ATLANTA, April 8, 2024 /PRNewswire-PRWeb/ -- CorServ , a company that empowers banks and fintechs with payment programs, has partnered with Busey Bank ($12.5 billion in assets) to launch a modern credit card program for their commercial customers.
"CorServ's commercial card program provides us with tools for credit decisioning, options for local servicing, and custom rebates which empower Busey Bank to better serve our commercial customers compared to what National card issuers can offer."
Aiming to add a comprehensive credit card solution to their suite of commercial banking services, Busey Bank transitioned out of an Agent Bank program to CorServ's Account Issuer Program.
With more control over credit decisions for their customers, Busey Bank will leverage CorServ's innovative solution to offer its commercial and business customers a comprehensive credit card program.

Mastercard Commits to Lowering U.S. Interchange for Small Businesses and Broader Merchant Community

Retrieved on:

Tuesday, March 26, 2024

Professional Services, Payments, Technology, Legal, Finance, Networks, Banking, Interchange, General counsel, Visa, Policy, Annual report, Payment card

The effort delivers merchants the certainty and visibility of their acceptance programs while supporting continued competition within the industry.

Key Points:

The effort delivers merchants the certainty and visibility of their acceptance programs while supporting continued competition within the industry.
Upon final approval of the class settlement by the court, Mastercard will have resolved the vast majority of all pending U.S. merchant litigations that are directed at seeking changes to the company’s interchange structure and merchant acceptance rules.
In agreeing to the settlement, Mastercard does not admit to any improper conduct with respect to the plaintiffs’ allegations.
That litigation and the impact to Mastercard are described in more detail in the company's Annual Report on Form 10-K for the year-ended December 31, 2023.

Visa Agrees to Landmark Settlement with U.S. Merchants Reducing Rates and Guaranteeing No Increases for at Least Five Years

Retrieved on:

Tuesday, March 26, 2024

Legal, Technology, Payments, Finance, Fintech, Banking, Professional Services, Small Business, Asset Management, Interchange, Mastercard, Accounting, Negotiation, Sale, Safety, Bank

The settlement also provides updates to several key network rules giving merchants more choice in how they accept digital payments.

Key Points:

The settlement also provides updates to several key network rules giving merchants more choice in how they accept digital payments.
The agreement’s multi-year benefits for businesses include:
Lower interchange rates.
The settlement will reduce credit interchange rates for U.S. merchants, comprised largely of small businesses.
The agreement will cap the reduced credit interchange rates for five years, providing an unprecedented level of cost certainty long sought by merchants.

Expensify Announces Q4 and Full Year Fiscal 2023 Results

Retrieved on:

Thursday, February 22, 2024

Professional Services, Apps, Applications, Technology, Finance, Fintech, Banking, SMB, Marketing, Partnership, SMS, EOY, Conference, IPO, Organization, Interchange, Economics, Human, Video game

To learn more about that last point, please be my guest in experiencing New Expensify yourself!

Key Points:

To learn more about that last point, please be my guest in experiencing New Expensify yourself!
If 2023 was a year of planting, we believe 2024 will be a year of harvesting.
Interchange derived from the Expensify Card grew to $11.1 million, an increase of 63% compared to the prior year.
Expensify estimates Free Cash Flow of $10.0 million - $12.0 million for the fiscal year ending December 31, 2024.

Expensify Announces Q3 2023 Results

Retrieved on:

Tuesday, November 7, 2023

With luck, our long-awaited migration of Expensify Classic to New Expensify should be actively underway by this time next quarter.

Key Points:

With luck, our long-awaited migration of Expensify Classic to New Expensify should be actively underway by this time next quarter.
Expensify Card accounting treatment - The company will become the program manager of the Expensify Card starting in late Q4.
The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Forward-Looking Statements” below.
There can be no assurance that the Company will achieve the results expressed by this guidance.

Expensify Announces Q2 2023 Results

Retrieved on:

Tuesday, August 8, 2023

Expensify, Inc. (Nasdaq: EXFY), a payments superapp that helps individuals and businesses around the world simplify the way they manage money across expenses, corporate cards and bills, today released a letter to shareholders from Founder and CEO David Barrett alongside results for its quarter ended June 30, 2023.

Key Points:

Expensify, Inc. (Nasdaq: EXFY), a payments superapp that helps individuals and businesses around the world simplify the way they manage money across expenses, corporate cards and bills, today released a letter to shareholders from Founder and CEO David Barrett alongside results for its quarter ended June 30, 2023.
Interchange derived from the Expensify Card grew to $2.7 million, an increase of 56% compared to the same period last year.
The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Forward-Looking Statements” below.
There can be no assurance that the Company will achieve the results expressed by this guidance.

SEACOAST REPORTS SECOND QUARTER 2023 RESULTS

Retrieved on:

Thursday, July 27, 2023

STUART, Fla., July 27, 2023 (GLOBE NEWSWIRE) -- Seacoast Banking Corporation of Florida (“Seacoast” or the “Company”) (NASDAQ: SBCF) today reported net income in the second quarter of 2023 of $31.2 million, or $0.37 per diluted share, compared to $11.8 million, or $0.15 per diluted share in the first quarter of 2023 and $32.8 million, or $0.53 per diluted share in the second quarter of 2022. For the six months ended June 30, 2023, net income was $43.1 million, or $0.52 per diluted share, a decrease of 19% compared to the six months ended June 30, 2022.

Key Points:

Pre-tax pre-provision earnings1 were $40.9 million in the second quarter of 2023, a decrease of 12% compared to the first quarter of 2023 and a decrease of 4% compared to the second quarter of 2022.
Accretion on acquired loans totaled $14.2 million in the second quarter of 2023, $15.9 million in the first quarter of 2023, and $2.7 million in the second quarter of 2022.
Commercial originations were $317.4 million during the second quarter of 2023, compared to $321.7 million in the first quarter of 2023, and $461.9 million in the second quarter of 2022.
Consumer originations in the second quarter of 2023 were $97.2 million, compared to $110.6 million in the first quarter of 2023, and $130.8 million in the second quarter of 2022.