Latest news with #Affirm
Business Wire
6 hours ago
- Business
- Business Wire
Catena Labs Expands Executive Team, Appoints Global Payments and Fintech Leader Sharda Caro Del Castillo as Chief Legal and Business Officer
SAN FRANCISCO--(BUSINESS WIRE)-- Catena Labs, a pioneer in AI and stablecoin financial services, today announced the appointment of Sharda Caro Del Castillo as Chief Legal and Business Officer. Caro Del Castillo brings to the company over two decades of legal, compliance, strategic and operational expertise from leadership roles at Affirm, Airbnb, Square, PayPal and Wells Fargo. 'Sharda's unique combination of skills and experience makes her the ideal leader to work with partners, regulators, and policymakers to realize our vision for an agentic economy...," said Sean Neville, co-founder and CEO at Catena. Share Catena faces legal and compliance challenges as it seeks to establish a regulated financial institution delivering a new class of financial services designed from the ground up for stablecoins and AI. The company plans to offer financial products that enable AI agents to execute secure, reliable financial transactions that are fully compliant with regulatory requirements. 'We're building the regulated financial institution that businesses will need as a trustworthy partner to realize the tremendous potential of agentic commerce and stablecoins,' said Sean Neville, co-founder and CEO at Catena. 'Sharda's unique combination of skills and experience makes her the ideal leader to work with partners, regulators, and policymakers to realize our vision for an agentic economy built on regulated stablecoin infrastructure.' Caro Del Castillo most recently served as Chief Legal Officer at Affirm, where she crafted the legal framework for its core product, Pay in Four, which laid the groundwork for an initial public offering. Prior to that, she worked as Global Head of Payments, General Counsel, and Chief Compliance Officer for Airbnb's payments business, overseeing strategy and operations around the world. She also held senior legal positions at Square and PayPal, and began her career at Wells Fargo, supporting merchant services and emerging payment models. Caro Del Castillo currently serves on the boards of GoFundMe, Forter and Payoneer. 'I've spent my career working at the leading edge of fintech innovation, collaborating closely with regulators and partners to build new products that create value for customers, and, at the same time, protect the public interest,' said Sharda Caro Del Castillo, Chief Legal and Business Officer. 'Catena provides an exceptional opportunity to drive another step change in the financial system by leveraging AI innovation and stablecoins, with a mission to make the financial ecosystem more stable, accessible and inclusive at a global scale.' In May, Catena released the open-source Agent Commerce Kit (ACK), which introduces foundational building blocks for agentic commerce, including agent identity and payments. On top of this foundation, Catena plans to deliver a new class of financial services agentic commerce. About Catena Labs Catena Labs is building a regulated financial institution designed for the AI era. The company is developing new financial infrastructure and services to enable AI agents, businesses, and consumers to participate safely and efficiently in the growing AI-driven economy. Catena is actively seeking collaboration with developers, businesses, and partners involved in the AI space and working with stablecoins.
Associated Press
6 hours ago
- Business
- Associated Press
Catena Labs Expands Executive Team, Appoints Global Payments and Fintech Leader Sharda Caro Del Castillo as Chief Legal and Business Officer
SAN FRANCISCO--(BUSINESS WIRE)--Jul 29, 2025-- Catena Labs, a pioneer in AI and stablecoin financial services, today announced the appointment of Sharda Caro Del Castillo as Chief Legal and Business Officer. Caro Del Castillo brings to the company over two decades of legal, compliance, strategic and operational expertise from leadership roles at Affirm, Airbnb, Square, PayPal and Wells Fargo. This press release features multimedia. View the full release here: Sharda Caro Del Castillo, Chief Legal and Business Officer Catena faces legal and compliance challenges as it seeks to establish a regulated financial institution delivering a new class of financial services designed from the ground up for stablecoins and AI. The company plans to offer financial products that enable AI agents to execute secure, reliable financial transactions that are fully compliant with regulatory requirements. 'We're building the regulated financial institution that businesses will need as a trustworthy partner to realize the tremendous potential of agentic commerce and stablecoins,' said Sean Neville, co-founder and CEO at Catena. 'Sharda's unique combination of skills and experience makes her the ideal leader to work with partners, regulators, and policymakers to realize our vision for an agentic economy built on regulated stablecoin infrastructure.' Caro Del Castillo most recently served as Chief Legal Officer at Affirm, where she crafted the legal framework for its core product, Pay in Four, which laid the groundwork for an initial public offering. Prior to that, she worked as Global Head of Payments, General Counsel, and Chief Compliance Officer for Airbnb's payments business, overseeing strategy and operations around the world. She also held senior legal positions at Square and PayPal, and began her career at Wells Fargo, supporting merchant services and emerging payment models. Caro Del Castillo currently serves on the boards of GoFundMe, Forter and Payoneer. 'I've spent my career working at the leading edge of fintech innovation, collaborating closely with regulators and partners to build new products that create value for customers, and, at the same time, protect the public interest,' said Sharda Caro Del Castillo, Chief Legal and Business Officer. 'Catena provides an exceptional opportunity to drive another step change in the financial system by leveraging AI innovation and stablecoins, with a mission to make the financial ecosystem more stable, accessible and inclusive at a global scale.' In May, Catena released the open-source Agent Commerce Kit (ACK), which introduces foundational building blocks for agentic commerce, including agent identity and payments. On top of this foundation, Catena plans to deliver a new class of financial services agentic commerce. About Catena Labs Catena Labs is building a regulated financial institution designed for the AI era. The company is developing new financial infrastructure and services to enable AI agents, businesses, and consumers to participate safely and efficiently in the growing AI-driven economy. Catena is actively seeking collaboration with developers, businesses, and partners involved in the AI space and working with stablecoins. View source version on CONTACT: Media Inquiries: SutherlandGold for Catena Labs [email protected] KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES BLOCKCHAIN FINTECH APPS/APPLICATIONS TECHNOLOGY DIGITAL CASH MANAGEMENT/DIGITAL ASSETS ARTIFICIAL INTELLIGENCE SECURITY CRYPTOCURRENCY LEGAL FINANCE OTHER TECHNOLOGY SOURCE: Catena Labs Copyright Business Wire 2025. PUB: 07/29/2025 12:00 PM/DISC: 07/29/2025 12:01 PM
Yahoo
a day ago
- Business
- Yahoo
Your credit score could go through a big change this fall — but that's good news if you're part of this growing group
If you've shopped online in the last few years, you've likely seen the option to pay with Klarna, Affirm, Afterpay or similar services. These 'buy now, pay later' (BNPL) apps let you split your purchase into four equal and interest-free installments or spread the cost over longer periods with interest. If you've ever used these services, you'll want to know those payments are getting reported to FICO — meaning they can show up on your credit report. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how According to the Federal Reserve Economic Well-Being of U.S. Households in 2024 report, 15% of Americans have selected the BNPL option within the last year. The payments seem simple enough: An $80 item can cost you $20 every month for four months, and if you pay on time, you won't get charged a penalty or interest. Plus, these types of payments are usually smaller, since they are used on routine online shopping. But, nearly a quarter of shoppers using BNPL have reported a late payment, the Federal Reserve found. Now, the late charge can show up on a buyer's credit score. Why FICO is making the change FICO, which did a yearlong study with BNPL provider Affirm, wants to see how American consumers spend their money and how often they need to take out these small 'loans.' The BNPL option "is becoming a really big part of how people are managing their finances, and so FICO wanted to be able to manage and reflect that shift," Julie May, vice president and general manager of business-to-business scores at FICO, told NPR. The Federal Reserve says BNPL is used by many demographics but especially by younger low and middle-income Americans. And for those shoppers, using Klarna or Affirm may be the only way to afford even those smaller purchases. FICO says this data has been a 'blind spot,' and now with BNPL data, they can see how many loans Americans can truly afford to take on. "We want people to get the credit that they need — but we don't want lenders to be flooding the market with credit beyond what's safe and reasonable for consumers," Adam Rust, director of financial services at the Consumer Federation of America, told NPR. Making BNPL purchases can be a way to start building credit if you have no loan history, but FICO says using BNPL won't do much to increase your current score if you're trying to bump it up. Plus, missing payments will still hurt your score. The potential ding to your credit score isn't the only risk with this payment option, either. Rust warns that they don't have nearly the same protections or regulations as credit cards: If you need to refund an order or find out an item was purchased fraudulently, you may still be expected to pay those third-party platforms. While the Consumer Financial Protection Bureau ruled that BNPL customers have the right to dispute fraudulent charges in 2024, they've since announced that they are pulling back from enforcing that ruling. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Should I use buy now, pay later? BNPL can indeed be an easy and convenient way to pay for everyday items, but at the end of the day, you are still taking out a loan that can now impact your credit. Let's look at what to consider before selecting that option at checkout. First, ask yourself if you can afford to buy the item outright without installment payments, especially if the item is not a necessity. If not, it may be a red flag that you can't actually afford to make that purchase. If the item is a want but not a need, consider saving up a bit longer so you can buy it outright — without fear of a late payment. Consider any other debts you may have, like existing credit card balances or other loans. Even though a BNPL loan is often small, forgetting your installment due date could cost you big time: a late fee could be as much as 25% of the item's original price, and for those longer-term installments with interest, you could be charged even more. Be sure to check the installment schedule. Some platforms withdraw monthly, while others are bi-weekly. Using BNPL can be a smart option for a necessary, larger one-time purchase, especially if you know you're consistent at making payments on time and it won't become a habit. Additionally, it can serve as a small step towards establishing a credit history — provided you maintain a good payment history — if you have never previously taken out a loan or credit card. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
'If You Can't Pay For The Trip, You Shouldn't Take It': Expert Warns Against Buy Now, Pay Later Travel Trend
This summer, millions of Americans are planning trips — and a growing number are using buy now, pay later services to help cover the cost. These short-term installment loans, offered by companies like Klarna and Affirm, are being used to pay for flights, hotels, cruises, and even event tickets. According to a NerdWallet survey, 18% of summer travelers planned to use BNPL this year. Klarna reported a 50% year-over-year jump in travel bookings, and Affirm (AFRM:NASDAQ) said its travel-related volume rose 38% in late 2024, topping $1 billion. While BNPL may seem appealing — especially when it comes with no upfront costs or interest — experts caution that it's not always a smart choice. Don't Miss: Be part of the breakthrough that could replace plastic as we know it— $100k+ in investable assets? – no cost, no obligation. It's Not Just Luxury Travel Anymore BNPL was once associated with high-end purchases, but that's changing. Andrew Lokenauth, founder of told CNBC that many of his clients now use BNPL to pay for basic travel, such as visiting family or attending weddings. "It's not just luxury vacations anymore," he said. "I've worked with over 100 clients drowning in BNPL travel debt, and it's not pretty." BNPL loans typically have zero flexibility — miss a payment, and you might face late fees or damage to your credit score. Even Affirm, which doesn't charge late fees, began reporting pay-over-time products to credit bureaus this year. Trending: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — The Debt Can Outlast the Trip The biggest risk with BNPL travel financing is that the fun may end, but the debt lingers. NerdWallet found that 30% of travelers who used credit cards for summer travel in 2024 still haven't paid off their balances. The average credit card interest rate, according to the Federal Reserve Bank of St. Louis, is over 22%. BNPL doesn't charge interest in many cases, but it can still lead to overextension. A recent Consumer Finance Protection Bureau report found that 63% of BNPL borrowers had more than one loan at a time — also known as "loan stacking" — at some point in 2021 and 2022. Disney vacation planner Jackie Steele said he's seen more clients use BNPL to pay for Disney trips, sometimes to make last-minute travel happen or to upgrade their experience. "I always caution people — especially younger adults or families on tight budgets — to look beyond the monthly breakdown," he told Caution and Have a Backup Plan Some travelers say BNPL made their trips possible. One traveler told CNBC she used it to book a last-minute trip to Miami, calling it a "lifesaver." But when she missed one payment reminder, she was hit with extra fees. Some experts say that BNPL can work if used wisely. Fiserv Head of Embedded Finance Sunil Sachdev told CNBC that the service has matured in recent years and, so far, hasn't resulted in widespread defaults. Still, Lokenauth doesn't sugarcoat it: "If you can't pay for a vacation outright, you probably shouldn't take it." Smart Alternatives for Summer Travel Before reaching for BNPL, consider alternatives. According to NerdWallet, 91% of travelers are already looking for ways to save — such as using credit card points or choosing budget hotels. "Travel rewards aren't fine wine — they don't get better with age," NerdWallet spokesperson Sally French says. "In fact, with airlines and hotels constantly tweaking their loyalty programs to a level that's usually not in your favor, your points could be worth less next summer than they are right now." No matter your destination this summer, planning ahead — and paying responsibly — can help you avoid turning your dream vacation into a long-term debt burden. Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'If You Can't Pay For The Trip, You Shouldn't Take It': Expert Warns Against Buy Now, Pay Later Travel Trend originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 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
Globe and Mail
4 days ago
- Business
- Globe and Mail
Looking for Earnings Beat? Buy These 5 Top-Ranked Stocks
It is not surprising that before an earnings season, every investor looks for stocks that can beat market expectations. This is because investors always try to position themselves ahead of time and look to tap stocks that are high-quality in nature. In this regard, we ran a screener that yielded stocks Affirm AFRM, Roku ROKU, AMZN, Robinhood Markets HOOD and Newmont NEM as the likely winners on the earnings beat potential. Why Is a Positive Earnings Surprise So Important? Historically, stocks of companies with solid quarterly earnings (on a nominal basis) tank if they miss or merely meet market expectations. After all, a 20% earnings rise (though apparently looks good) doesn't tell you if earnings growth has been exhibiting a decelerating trend. Also, seasonal fluctuations come into play sometimes. If a company's Q1 is seasonally weak and Q4 strong, then it is likely to report a sequential earnings decline. In such cases, growth rates are misleading when judging the true health of a company. On the other hand, after much brainstorming and analysis of companies' financials and initiatives, Wall Street analysts project earnings of companies. They, in fact, club their insights and a company's guidance when deriving an earnings estimate. Thus, outperforming that estimate is almost equivalent to beating the company's own expectation as well as the market perception. And if the margin of earnings surprise is big, it typically drives the stock higher right after the release. Thus, more than anything else, an earnings surprise can push a stock higher. How to Find Stocks That Can Beat? Now, finding stocks that have the potential to beat on the bottom line may be investors' dream, but not an easy job. One way to do this is to look at the earnings surprise history of the company. An impressive track in this regard generally acts as a catalyst in sending a stock higher. It indicates the company's ability to surpass estimates. And investors generally believe that the company will apply the same secret sauce to execute yet another earnings beat in its next release. The Winning Strategy In order to shortlist stocks that are likely to come up with an earnings surprise, we chose the following as our primary screening parameters. Last EPS Surprise greater than or equal to 10%: Stocks delivering positive surprise in the last quarter tend to surprise again. Average EPS Surprise in the last four quarters greater than 20%: We lifted the bar for outperformance slightly higher by setting the average earnings surprise for the last four quarters at 20%. Average EPS Surprise in the last two quarters greater than 20%: This points to a more consistent surprise history and makes the case for another surprise even stronger. In addition, we place a few other criteria that push up the chance of a positive surprise. Zacks Rank less than or equal to 2: Only companies with a Zacks Rank #1 (Strong Buy) or 2 (Buy) rating can get through. Earnings ESP greater than zero: A stock needs to have both a positive Earnings ESP and a Zacks Rank of #1, 2 or 3 for an earnings beat to happen, as per our proven model. In order to zero in on those that have long-term growth potential and high trading liquidity, we have added the following parameters, too: Next 3–5 Years Estimated EPS Growth (Per Year) greater than 10%: Solid expected earnings growth exhibits the stock's long-term growth prospects. Average 20-day Volume greater than 100,000: High trading volume implies that the stocks have adequate liquidity. A handful of criteria has narrowed down the universe from over 7,700 stocks to only 15. Here are five out of 15 stocks: Affirm: This Zacks Rank #1 company specializes in financial technology for payment solutions that provide consumers with flexible, transparent installment loans — both interest-free and interest-bearing — at the point of sale. You can see the complete list of today's Zacks #1 Rank stocks here. The average earnings surprise of AFRM for the past four quarters is 102.22%. Roku: The Zacks Rank #2 company is the leading TV streaming platform provider in the United States, Canada and Mexico based on hours streamed. The average earnings surprise of ROKU for the past four quarters is 51.15%. The Zacks Rank #1 company is one of the largest e-commerce providers, with sprawling operations in North America, now spreading across the globe. The average earnings surprise of AMZN for the past four quarters is 20.68%. Robinhood Markets: Robinhood Markets Inc. is a financial services company that offers trading services in crypto, stocks, options, exchange-traded funds (ETFs), cash management, margin and securities lending, and Robinhood Gold. The stock has a Zacks Rank #1. The average earnings surprise of HOOD for the past four quarters is 20.59%. Newmont: Newmont Corporation is one of the world's largest producers of gold with several active mines in Nevada, Peru, Australia and Ghana. The stock has a Zacks Rank #2. The average earnings surprise of NEM for the past four quarters is 32.41%. You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge. The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out. Click here to sign up for a free trial to the Research Wizard today. Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. #1 Semiconductor Stock to Buy (Not NVDA) The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow. One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inc. (AMZN): Free Stock Analysis Report Newmont Corporation (NEM): Free Stock Analysis Report Roku, Inc. (ROKU): Free Stock Analysis Report Affirm Holdings, Inc. (AFRM): Free Stock Analysis Report Robinhood Markets, Inc. (HOOD): Free Stock Analysis Report
