Do growing fintechs need more federal regulation?

State regulators say they’re updating their rules and are best-suited to oversee licensed money transmitters — and a new U.S. payments charter isn’t needed. 

Fiserv acquires Australian payment facilitator Pinch

The move comes after the Milwaukee-based payments processor said it would expand its Clover point-of-sale service in Australia.

Rain raises $75M in equity funding

With a fresh capital infusion, the earned wage access provider aims to launch more savings and credit products this year.

DailyPay sues New York Attorney General

The earned wage access provider lodged a lawsuit against the state after it was notified of alleged lending violations.

Fiserv says US trade war could harm demand

The company’s point-of-sale devices are manufactured overseas, and therefore subject to across-the-board import taxes.

Stripe seeks Georgia special banking charter

If approved, the charter would give Stripe the ability to process credit card transactions without a bank partner.

Cap One-Discover deal detractors assail reported DOJ approval

Capital One’s $35 billion purchase faces two remaining federal approvals — and plenty of critics who expect consumers will face higher costs.

US businesses cling to paper checks

Large and small businesses alike are still using the 20th-century form of payment extensively, even as the federal government presses ahead with digital alternatives.

Durbin rounds up CCCA support

The Democrat from Illinois asked retail and restaurant industry representatives this week to help build support for the Credit Card Competition Act, but it has yet to be introduced this year.

Debit cards top Fed’s fraud troubles list: survey

Card and check fraud continue to plague financial institutions, a new survey from the Federal Reserve Financial Services shows.

Visa, Mastercard have edge over Amex for Apple: analyst

As companies joust to become the tech giant’s card network, some analysts give Visa and Mastercard an advantage over American Express.

Brex sees procurement push onto its card

Corporate buyers are exploring ways to move more of their spending onto cards for better tracking and insight, a Brex EVP says.

Judge tosses racial bias suit against Citi over ATM fee waivers

The lawsuit accused the New York City-based bank of “unabashed racial discrimination” for waiving ATM fees for customers of minority-owned banks but not for white-owned banks.

Fed raises alarm on synthetic identity fraud

The use of generative AI and fraudulently obtained accounts to execute synthetic identity fraud is on the rise, a Federal Reserve official said in a podcast interview.

Mastercard, PayPal mull stablecoins for B2B payments

Mastercard and PayPal are among the companies viewing the digital assets as potentially useful for business-to-business transactions.

Fiserv promotes Takis Georgakopoulos to COO

Georgakopoulos replaced Guy Chiarello as chief operating officer, with the latter moving to a different role at the payments processor.

Amex opposes shareholder proposals

A conservative legal group wants American Express to consider eliminating diversity goals to determine financial incentives for executives. A spokesperson for the card issuer says it no longer uses those goals in evaluating executive performance.

House plans vote to kill CFPB payments rule

The chamber’s measure revoking bureau oversight of large tech payments players has passed the Senate and would next head to an approving Trump.

Updated April 2, 2025

Clearing House ACH payments volume keeps climbing

The Clearing House and Nacha both reported 6%-plus growth rates in ACH volume for last year, compared to 2023.

EWS drops Zelle standalone app

Zelle users will need to turn to their online banking portals starting today in light of Early Warning Services proceeding as planned with the shutdown of its Zelle app this month.

CFPB plans to spike BNPL rule

The buy now, pay later industry sued to block the consumer-friendly rule, arguing that the services are not the same as those offered via credit cards.

Swipe fee foes find legislative support in almost a dozen states

The battle to curb interchange fees has migrated from Illinois across the nation, with bills in 11 states seeing robust lobbying.

Discover CEO may reap $2.4M bonus

Michael Shepherd will remain as interim chief executive officer potentially through June, and receive a $2.4 million cash bonus if the sale to Capital One closes by then.

Affirm COO: Walmart deal was “uneconomic”

Walmart makes up a relatively small portion of Affirm’s business that the buy now, pay later company can make up elsewhere, Chief Operating Officer Michael Linford said.

Mercury raises $300M

The payments startup, which has backing from Marathon Management Partners and Andreessen Horowitz, aims to use the funds to expand its clientele and increase its profitability.