The Latest
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PNC's 'low cash mode' gives users 24-hour overdraft buffer
The feature lets customers choose which payments will be processed if an overdraft is imminent. Tests of the product have helped users reduce insufficient-funds fees by more than 60%, the bank said.
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Electronic payments surged for banks in 2020
The value and volume of digital payments accelerated last year, according to Nacha's annual report, as the pandemic shifted more business and consumer activity online.
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Business spend management tools gain traction during the pandemic
Despite the COVID-19 impact, expense management software companies can expect 10.5% compound annual growth through 2024, research shows.
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Courtesy of Splitit
Splitit brings installment payments to professional services globally
The company eyes global expansion of its BNPL services, and has partnered with the UnionPay International card network to expand its installment payment offering.
UPDATED: April 13, 2021 at 11:40 a.m. -
DoorDash
Instacart and DoorDash expected to offer credit cards
Digital brand names increasingly seek to keep their customers through loyalty programs tied to the cards while generating alternative sources of revenue, industry analysts told Payments Dive.
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Rapyd targets Miami expansion as it eyes global growth
The company rolled out a $100 million promotion in the city last month, and it's starting to get some response.
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Payroc plans to keep buying up payments players
The payments processor, under a new president's focus on growth, has acquired two companies in the past two weeks and expects to close on additional deals this month.
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Courtesy of https://corporate.walmart.com/photos/walmart-store-exterior-at-night
Walmart's fintech startup may take aim at payments
The litany of services "Hazel by Walmart" may offer includes multiple payment services, including credit card and debit cards, as well as prepaid card payment processing and electronic funds transfer.
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zefart/iStock/Getty via Getty Images
Payments industry faces potential 'destructive attacks,' Biden cybersecurity official warns
A new Biden administration cybersecurity official told the American Transaction Processors Coalition that ransomware and infrastructure attacks are the biggest threats.
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Retrieved from Mac Rumors on April 07, 2021
Facebook testing QR code for P2P payments
The new payment feature will allow Facebook users to send money to peers by scanning a QR code or a payment URL unique to each user.
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Courtesy of Coinbase
Coinbase's direct IPO could be hard act to follow
"Coinbase will provide an avenue for companies to make an indirect bet on cryptocurrencies," Baker Botts attorney Sam Dibble said.
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Anna Hrushka/Payments Dive
Over 110 fintechs, banks flood into FedNow real-time payments pilot
The test case, a precursor to an expected 2023 debut, is "the Fed's effort to get into the instant payments space," said Anne Sharkey, senior vice president of operations at First Internet Bank.
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Courtesy of Gemini
Gemini taps Alloy to bolster ID security on new crypto credit card
"As digital currencies and NFTs are picking up popularity among consumers, we are seeing more fraud attempts on that asset class," said Kevin Lee, a trust and safety architect at Sift.
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Daphne Howland/Payments Dive
Payoneer gears up for growth by way of a SPAC and $3.3B valuation
The B2B payments company aims to build up its e-commerce payments business by expanding cross-border services for small and mid-sized businesses.
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Getty Images
Deep Dive6 Payments trends for 2021
The pandemic accelerated emerging payments trends, as "both the merchant and customer side picked up pace to evolve with changing market conditions," Forrester analyst Lily Varon said.
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Courtesy of Podium Mr. Baetge
Podium launches hardware point-of-sale product for local businesses
The company, which facilitates payments via text and Facebook Messenger, now offers a POS device for businesses to collect and manage their payments.
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White Ops
Fraud picks up as the economy goes digital during the pandemic, studies find
Digital transactions are vulnerable to fraud with more than $1 trillion stolen in 2020 due to cybercrime, new research from Sift and FICO revealed.
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John Hazard and Lisa Burdige
NFL player and AI entrepreneur team up for NFT play
Tech entrepreneur Kenneth Kuo and Steelers linebacker Cassius Marsh created the firm Ownr to help pro athletes create, manage and sell non-fungible tokens, an increasingly popular digital asset stirring fan interest.
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Opinion
After digital payments rush, time to tighten security
Don't be surprised if a vendor you're about to pay turns out to be fraudulent. ACH and other types of cyber fraud surged during the pandemic.
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Pixabay by AhmadArdity
COVID-19 accelerated need for real-time payments, report says
Mobile wallet adoption and a need for instant payments skyrocketed as the pandemic induced a change in consumer behavior and expectations, according to a recent ACI Worldwide study.
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Mastercard partners with fintech companies to fend off tech upstarts
Established payments companies are increasingly turning to technology partners to offer services that help them compete.
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Visa Press Release
Visa expands payments network via Earthport acquisition
The company known for its credit and debit cards is building up its network to let payments happen without touching a card.
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PayPal launches crypto payment platform
The payments company will convert consumers' Bitcoin, Ethereum, Bitcoin Cash and Litecoin holdings into fiat currencies when they check out. That cuts the risk merchants assume from any volatility in cryptos' value.
UPDATED: March 30, 2021 at 11:32 a.m. -
Financial institutions were slow to protect customers from fraud, Stratifyd report says
Financial institutions were overwhelmed with fraudulent activities skyrocketing during the pandemic, according to the data analysis of Consumer Financial Protection Bureau customer complaints.
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Courtesy of Chipotle Mexican Grill
Chipotle gives away $100K in bitcoin for National Burrito Day
The restaurant chain is the latest big brand to make a splash by connecting itself to the popular cryptocurrency Bitcoin.
