Klarna CEO plans to replace 50% of workforce with AI

What we’ll cover today:

🤖 What if half your coworkers were replaced by AI tomorrow?

💳 PayPal Partners with Shopify

🚀 Stripe Billing: From Startups to Enterprises

🔗 The event roundup 

What if half your coworkers were replaced by AI tomorrow?

That’s exactly what Klarna is doing.

In a bold move, Klarna’s CEO, Sebastian Siemiatkowski, announced plans to cut 50% of the company’s workforce.

Here’s what’s happening:

• AI will replace thousands of jobs across various departments.

• Tasks like customer service and credit assessments will be automated.

• The goal? Boost efficiency, cut costs, and stay ahead of the competition.

The fintech world is watching closely to see if this move will redefine the industry.

Here’s the whole article.

1. PayPal Partners with Shopify

PayPal is stepping up its game with Shopify! Now, PayPal will handle credit and debit card payments through Shopify Payments, making life easier for U.S. merchants. 

With PayPal wallet transactions fully integrated, managing orders, payouts, and reports will be a breeze. It’s a win-win for merchants looking for a smoother, unified experience

Here’s the whole article

2. Stripe Billing: From Startups to Enterprises

Stripe Billing, used by companies like Atlassian, OpenAI, and Notion, is growing rapidly and was recently named a category leader by Gartner. 

Initially built for startups, Stripe Billing has expanded to large enterprises, but startups remain key to its strategy, driving innovation and product development.

Here’s the whole article

1. ebankIT Expands Fintech Presence with US HQ in Atlanta

"Establishing our US HQ in Atlanta’s FinTech hub is a key milestone, boosting our ability to deliver innovative digital banking solutions and strengthening our position as a global FinTech leader," said Renato Oliveira, CEO of ebankIT.

2. US fintech start-up “Received” to close down

Received, a New York-based billing platform, is closing after two years. CEO Roi Ben Daniel explained the decision, saying they weren’t growing as needed. Despite working with big partners like Salesforce and Stripe, they couldn’t find the right fit for their product in the market.

3. Ramp Network Expands Crypto Services to All 50 US States

Ramp Network, a fintech company, has expanded its cryptocurrency buying services to cover all 50 U.S. states and the District of Columbia. Recently, Ramp announced it now supports 17 more states, making it easier for people across the U.S. to buy and sell digital currencies.