The Latest

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  Discover pursues sale of student loan business

  The card issuer said Wednesday it’s seeking to offload its $10.4 billion student loan portfolio.

  Retail

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  Sponsored by U.S. Bank

  4 questions to ask when considering a new corporate card program

  From increased expense visibility and control to added efficiencies and rebates, a commercial card is more than a card—it’s a strategic component of your financial strategy.

  Banking

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  Wise targets US banks for int’l gains

  The cross-border payments company aims to undercut U.S. banks with lower fees and faster transfers.

  Banking

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  X picks up two more state money licenses

  South Dakota and Kansas are the first states to grant X money transmitter licenses since September, inching the social media platform closer to adding a payments feature. 

  Regulations & Policy

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  Amazon rolls out palm-based identity service for businesses

  The AI-powered biometric identification technology, already used as a payment tool at some merchants, intends to improve the accuracy and ease of use of physical and digital access controls, Amazon Web Services said.

  Technology

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  PayPal tackles chargeback fraud

  PayPal is attacking illegitimate customer returns with new policies after a rise in e-commerce activity has fueled that type of fraud across the industry.

  Retail

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  BNPL bolsters holiday weekend spending

  The Black Friday through Cyber Monday shopping weekend was a boon for BNPL providers and payments companies such as Stripe and Square.

  Retail

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  Apple seeks to end Goldman Sachs credit-card partnership: reports

  The proposed winddown would entail the entire consumer partnership, including the savings account that was rolled out this year, sources told The Wall Street Journal.

  Retail

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  Black Friday orders through Klarna jump nearly 30%

  As consumers feel the pinch of inflation, some are turning to installment payment services to stretch their budgets.

  Retail

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  Synchrony to sell pet insurance subsidiary for $750M gain

  As part of the sale, Synchrony will also acquire an equity interest in Independence Pet Holdings.

  Retail

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  Chase credit card snafu trips up Black Friday shoppers

  The biggest bank in the U.S. erroneously declined some credit card users’ purchases on Black Friday, the busiest shopping day of the year.

  Retail

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  Why quick service restaurants are doubling down on kiosks

  Burger King, Taco Bell and Shake Shack are among the chains adding this technology to boost tabs and reduce labor pressure.

  Restaurants

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  NCR Voyix sells payments assets for $82M

  The divestiture mainly consisted of merchant contracts, Voyix’s front-end authorization platform “and certain relevant intellectual property,” the company said in its quarterly filing.

  Retail

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  How convenience industry leaders see the future of the store experience

  Staffed checkout registers are losing importance, and industry executives are eyeing mobile-based, scan-and-go technology, according to a recent survey.

  Retail

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  Credit card bill battle may slide into 2024

  Prospects for passing the Credit Card Competition Act this year are dimming, but supporters and opponents remain locked in battle over the legislation.

  Retail

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  Visa proposes new plan for covering litigation liability

  The card network’s board approved pursuing a shareholder vote on a new approach to covering potentially more than $35 billion in outstanding merchant claims against the company.

  Retail

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  Bill beats back Melio speculation

  Payments software company Bill isn’t in the market for “transformational” M&A and is more likely to pursue “tuck-in technology” type purchases, President John Rettig said on Friday.

  Banking

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  Plaid poaches Adyen executive for European expansion

  Brian Dammeir sees opportunities for Plaid’s payments business to grow in Europe, particularly in account-to-account payments, he said in a Wednesday interview.

  Banking

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  Will China be a boon or bust for card networks?

  U.S. card companies have gained a foothold in China’s market, but they must still win over banks and battle behemoth China UnionPay.

  Retail

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  Digital payments have increased restaurant tips. But is it backfiring?

  Some diners feel pressured by tipping digitally in front of employees, which can hurt restaurant traffic, but experts say there are best practices that can ease customer trepidation.  

  Restaurants

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  Credit card demand remains robust, rejections rise: New York Fed

  As consumers have leaned on credit cards more in recent months, applications for credit card limit extensions also rose, the New York Fed said Monday.

  Retail

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  Antitrust pressure may squeeze Google, Apple in-app fees

  “Apple and Google Play app store fees will be significantly lower in the medium future,” Drake Star Partner Michael Metzger predicted.

  Technology

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  Wise CFO credits customer growth for profit jump

  The fintech’s nearly fourfold jump in profits comes as its chief financial officer is preparing to depart after an eight-year tenure.  

  Banking

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  Mastercard joint venture approved for China card processing

  The No. 2 U.S. card company now has a means of processing card payments inside China, after years of waiting on Chinese government approvals.

  Retail

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  5 takeaways from Michael Barr’s remarks at The Clearing House conference

  The Fed's vice chair for supervision expressed optimism about FedNow’s benefits and said he expects it to co-exist with the privately owned RTP network.

  Retail

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  Q&A

  BNPL regulation could contribute to consolidation: Moody’s analysts

  Adapting to regulation could be a costly endeavor for BNPL companies already facing losses and more expensive funding costs, Moody’s analysts said.

  Retail

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