The Latest

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    Big tech pushes passwordless for payments

    Google, Microsoft and Apple this month began a big, new push in their campaign for a passwordless standard that's aimed at improving digital identity verification, including for payments.

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    Ethan Miller via Getty Images

    Albertsons expands smart cart pilot

    The carts act like self-checkout machines, with the computer vision system and barcode-scanner logging the products a customer tosses into the cart.

    Updated May 20, 2022
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    Ilya S. Savenok / Stringer via Getty Images

    Fiserv shareholders approve severance curbs

    A proposal to subject certain severance agreements to a shareholder vote — which the board was not in favor of — was approved during Fiserv’s annual meeting Wednesday.

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    Permission granted by Emily Burnham DLPR

    BNPL player Zilch expands to US

    Instead of collecting fees from retailers to move merchandise from their shelves, Zilch is linking with brands like Sephora and Nike to lure consumers looking to finance their purchases through installment payments. 

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    Courtesy of CashApp - Square

    SoundHound, Square launch tool for restaurant orders

    The voice app company SoundHound AI is rolling out a service for restaurants with Block's Square that answers phone calls, takes  orders, accepts modifications and sends confirmations to complete payments.

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    Stephanie Keith via Getty Images

    Restaurant payments startup SpotOn raises $300M

    SpotOn plans to use the capital to develop new products and services, the San Francisco-based company said. The funding round was led by Dragoneer Investment Group. 

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    Joe Raedle via Getty Images

    Block bets on bitcoin

    “We are no longer just a payments company,” Block CEO Jack Dorsey said at the company’s investor day Wednesday.

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    time99lek via Getty Images

    FIS knocks Fiserv out of No. 2 merchant acquirer spot

    In a competitive field of merchant acquirers, FIS bested Fiserv last year as JPMorgan Chase held its lead, according to a ranking from The Nilson Report. 

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    Courtesy of Mastercard

    Mastercard to launch biometric checkout tool for retailers

    The company plans to try out facial recognition and hand-scanning technology in multiple countries.

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    Kaarin Vembar/Payments Dive

    Amazon Fresh spearheads East Coast expansion

    The chain plans to open locations on Long Island and in the Garden State, expanding its use of the cashierless payment technology and hiring "hundreds" of workers.

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    The image by Ted Eytan is licensed under CC BY-SA 2.0

    CFPB carves out new competition angle for oversight

    A former CFPB enforcement director told an audience of payments professionals this week that they'd best be prepared for the agency to expand its oversight by way of its markets authority.

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    Courtesy of Klarna

    Klarna debuts virtual shopping tool

    The platform is adding more services as the buy now-pay later industry faces more regulatory scrutiny.

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    Drew Angerer/Getty via Getty Images

    BNPL giant Affirm counts on debit card for growth

    The San Francisco-based company said the product is being “rolled out to tens of thousands of consumers" through a beta program.

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    Zowy Voeten via Getty Images

    Affluent consumers may drive $257B in spending

    The wealthiest U.S. consumers are eager to open their wallets again, especially for travel, though there is one possible caveat, predicts Visa's chief economist.

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    FG Trade via Getty Images

    Amex, Discover get top marks in direct banks survey

    The No. 3 and No. 4 card companies, which also hold bank licenses, scored highly in customer satisfaction among online-only banks, J.D. Power found.

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    Dan Kitwood/Getty Images News via Getty Images

    SEC enforcement attorney predicts 'a lot more fraud' in crypto markets

    The SEC will turn to litigation if needed to achieve “clarity” as it fights abuses in cryptocurrency markets, according to an attorney in the agency’s Enforcement Division.

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    Justin Sullivan via Getty Images

    Three US cash trends persist, Fed report says

    The COVID-19 pandemic led U.S. consumers to change up their payment habits, but three long-term cash trends have mainly persisted, according to a Federal Reserve Bank report issued this month.

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    Sarah Silbiger via Getty Images
    Opinion

    Are restaurant operators eating too many fees?

    "I’ve been disappointed to see how the payments industry is constantly looking for ways to profit off of small businesses in sneaky ways," says Copper CEO Dickson Chu.

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    Pierre Crom via Getty Images

    World Bank forecast for cross-border payments rises

    The international bank expects remittances to climb 3.7% to $802 billion this year. That's more than was previously expected and the increase is partly due to the upheaval in Ukraine, the World Bank said.

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    Deserve taps Goldman for credit facility

    With the $250 million credit facility from Goldman Sachs and other backers, the Palo Alto, California-based digital card startup aims to keep financing an expanding clientele.

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    Retrieved from Flickr/frankieleon.

    Fed delivers mixed credit card data

    While first-quarter consumer credit card debt rose relative to the same period last year, it dropped compared to the fourth quarter. Meanwhile, consumers' outlook on the availability of credit deteriorated.

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    da-kuk via Getty Images

    Jack Henry prowls for acquisitions

    The payment technology provider aims to start making acquisitions again this year, the CEO said. While potential targets had been too expensive in recent years, the public market's swoon is creating more options now.

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    Chip Somodevilla via Getty Images

    Yellen urges stricter stablecoin regulation amid TerraUSD crash

    The coin, which relies on an algorithm rather than being backed by dollar reserves, plummeted to 23 cents Wednesday, according to CoinDesk.

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    PeopleImages via Getty Images

    VizyPay carves out a niche catering to rural America

    Austin Mac Nab, the CEO and cofounder of Waukee, Iowa-based payments processing firm VizyPay, said the company aims to disrupt the payments landscape by catering to small town businesses.

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    Courtesy of Mashgin

    Self-checkout tech maker Mashgin raises $62.5M

    The technology company, which currently partners with convenience stores, cafeterias, hospitals and sports arenas, said it will use the investment to build out its team, quicken expansion and scale globally.