The Latest

  • Cash App Block consumer lending loans
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    Sean Zanni via Getty Images
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    Block eyes services for preteens

    The company aims to make savings and card services available on its Cash App digital wallet for preteens, according to a Wednesday presentation. The tools would presumably be managed by parents.

  • A commercial building with large windows; the sign “Capital One Bank” appears in white letters with a red swoosh over a glass entrance.
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    Alamy
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    Capital One joins FedNow

    The bank signed up for the Federal Reserve’s real-time payments system this week, leaving just one of the five major U.S. banks that has not.

  • Russ Vought is shown looking to his right with other people seated behind him in the background.
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    Anna Moneymaker / Staff via Getty Images
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    White House nominates Vought aide to lead CFPB

    Stuart Levenbach’s nomination is technical and extends Russ Vought’s tenure as acting director, a bureau spokesperson said.

  • BaaS, Banking as a service, fintech, financial technology, mobile banking, contactless payment
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    Priority Tech investors oppose proposed CEO buyout

    Shareholders of the payments software firm urged its board to reject an offer from Thomas Priore valuing the company at up to $520 million.

  • Mesh cryptocurrency digital assets POS retail stablecoins PayPal
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    Joe Raedle via Getty Images
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    Citi, Swift wrap digital asset trial

    The two institutions contend that interoperability between crypto ledgers and traditional financial systems is possible.

  • FedNow Federal Reserve Bank
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    Mesut Dogan via Getty Images
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    Fed pitches fraud-fighting tips

    The Federal Reserve Financial Services suggests that financial firms draw from a range of data sources to spot possibly fraudulent transactions.

  • A person uses a sewing machine.
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    Permission granted by Patagonia
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    Adyen US executive exits

    The Dutch payments processor’s president for North America, Davi Strazza, said he’s leaving after witnessing 11 years of growth.

  • shopping payments stablecoins cryptocurrency Genius Act
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    Stablecoins carry consumer risk: panel

    The U.S. Genius Act turbocharged stablecoin interest but left many consumer protection aspects to regulators, crypto professionals warned.

  • In the foreground is a computer screen displaying an animated image of a girl, and in the background people stand with their hands up on their heads.
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    Ezra Acayan / Stringer via Getty Images
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    Opinion

    Next-gen AI means next-gen fraud. Are we ready for it?

    “The next phase of innovation is going to be about discernment, not necessarily having the most advanced model,” says a payments firm CEO.

  • Fiserv Argentina payments processing currency inflation
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    Tomas Cuesta via Getty Images
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    Fiserv CEO explains struggles

    The payments processor saw anemic growth in Argentina and misjudged how to juggle long-term and short-term projects, CEO Mike Lyons said.

  • BNPL Sezzle retail consumer shopping buy now pay later financing loans
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    Sezzle renews subscription focus

    The buy now, pay later firm’s CEO says that when a consumer makes a monthly financial commitment they spend more and deliver higher profits.

  • A young woman customer placing her order at a fast food convenience restaurant.
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    Q&A

    Rain CEO embraces regulation

    Alex Bradford, who leads the earned wage access provider, backs industry regulation, but recoils at the thought of some “antiquated” state laws.

  • American Express logo on window
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    Scott Olson via Getty Images
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    Amex says BNPL isn’t a rival

    Buy now, pay later competitors don’t concern American Express because the credit card giant depends on wealthier customers.

  • Cash App money wallets bitcoin cryptocurrency
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    Block touts Cash App updates

    The payment provider ballyhooed Cash App’s new and existing features this week as it vies with digital wallet rivals.

  • CFPB open banking banks Russell Vought fintechs
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    Chip Somodevilla via Getty Images
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    Column

    Dive Deposits: CFPB cries poor

    A Justice Department office argued the Fed has no money to fund the bureau. The CFPB’s acting director hasn’t asked the central bank for money anyway.

  • Fiserv headquarters
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    Courtesy of Fiserv
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    Fiserv shareholders sue again

    The complaint alleges the payment processor’s July revision of its revenue growth guidance was based on faulty data.

  • A close up view of a stack of visa bank cards.
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    Justin Sullivan via Getty Images
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    Visa CFO trumpets legal pact

    The card network’s chief financial officer touted the benefits of a proposed legal settlement with merchants.

  • digital tokens stablecoins cryptocurrency JPMorgan Chase banks
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    Eugene Gologursky via Getty Images
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    Beware too many stablecoins: bank exec

    A deluge of digital coins threatens to make the cryptocurrency a loyalty program like airline frequent flier miles, a JPMorgan Chase executive said.

  • Visa Mastercard merchants credit cards networks swipe fees retail
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    Fly View Productions via Getty Images
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    8 pros, cons of Visa-Mastercard pact

    A proposed settlement to end 20 years of credit card swipe fee litigation generated strong reactions for and against the agreement.

  • Cash App Block consumer lending loans
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    Sean Zanni via Getty Images
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    Cash App leans into loans

    Block’s financial services unit is pressing growth of short-term consumer loans, confident that its underwriting data will support profitable lending.

  • Federal Reserve Christopher Waller crypto digital currencies stablecoins
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    Sarah Silbiger via Getty Images
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    Column

    Dive Deposits: Was Waller’s ‘skinny’ account clarification a walk-back?

    The Federal Reserve governor set out to clarify that only institutions with a banking charter would be eligible for a tailored master account. Does that jibe with the central bank’s “embrace” of disruption?

  • Visa Mastercard merchants interchange fees swipe banks retail
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    Justin Sullivan via Getty Images
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    Visa, Mastercard reach legal pact with merchants

    The legal agreement, if approved by a federal court, could end two decades of litigation between the two biggest U.S. card networks and their merchant clients over credit card interchange fees.

  • Mesh cryptocurrency digital assets POS retail stablecoins PayPal
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    Joe Raedle via Getty Images
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    Paystand acquires Bitwage

    The blockchain-backed B2B payments provider snapped up another payments player, and raised capital to accelerate its growth.

  • Former Fiserv CEO Frank Bisignano
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    Andrew Harnik via Getty Images
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    Fiserv grilled over ex-CEO

    Senate Democrats are digging into former Fiserv CEO Frank Bisignano’s past leadership of the payments processor.

  • A person shops for clothing on a tablet.
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    Afterpay confronts new fraud type

    Fraudsters are posing as merchants and consumers to make fraudulent purchases and stick Afterpay with the bill, according to a Block executive.