The Latest
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ACI appoints new CEO
ACI has appointed its interim CEO and one-time board chairman, Thomas Warsop, as its next CEO, after pushing out its former CEO late last year.
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Payments cost-cutting could fuel M&A: investor
Payments companies cutting staff and revamping cost structures could make them a more attractive target for acquirers, a QED Investors partner said.
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FIS CEO sizes up competition
CEO Stephanie Ferris pointed to Adyen as a major Worldpay competitor and talked about losing out on the retail side to Square and Clover.
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Marqeta shuts down Australia operations
The modern card-issuing company is closing its outpost in Australia as part of its cost-cutting campaign.
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Consumers use cash to forget, study shows
New research suggests consumers’ payment method choice can depend on what they’re buying, especially if it’s a guilty-pleasure purchase.
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Debit network players gear up for July
Card network operators Visa, Mastercard and Fiserv are bracing for change in light of the Federal Reserve’s debit routing rule clarification.
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Consumers, businesses gravitate to faster, mobile payments
As electronic payment options become available, consumers and businesses in the U.S. are using them more often, but keeping a wary eye on fraud.
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Deep Dive
Payments fraud climbs as banks reach for joint response
Financial institutions and payments players are seeking to coalesce around new efforts to battle skyrocketing payments fraud.
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Levchin downplays Apple threat
Affirm’s CEO said PayPal, Klarna and Afterpay are more likely to face pressure from Apple’s buy now, pay later move.
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Cash App pursues older, affluent customers
The Block business is seeking older, higher-income users as it pursues diversified growth, CEO Jack Dorsey said.
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Citizens Bank to pay $9M to settle disputed-charge suit
The CFPB said the bank, in 2015, improperly denied customer reports of fraud and unauthorized use and, in some cases, failed to fully reimburse users.
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Opinion
Give EWA a chance
“It is unclear why critics want to place EWA in the credit silo and call for heavy-handed regulations to restrict access to EWA products,” argues the CEO of the Innovative Payments Association.
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Credit popularity doesn’t displace cash: Fed report
Credit cards were the most used payment method last year in the U.S., but cash demand remains stable, a Fed report showed.
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Venmo to launch teen account
The move is part of PayPal’s plan to lean on Venmo to lure more users.
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Legislators spar over stablecoin proposals
Lawmakers agree stablecoin legislation is needed to ensure the U.S. establishes itself as a leader in the space.
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NY Fed teams with Singapore on CBDC study
The two central banks tested digital ledger technology for payments across multiple currencies in less than 30 seconds.
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Fed official stresses importance of dollar’s standing
“For the dollar to maintain its status, it is important for U.S. elected officials and other policymakers to make decisions that instill confidence in our economy and institutions,” a New York Fed official said Thursday.
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Bill Holdings discloses ‘material weakness’
Despite that finding, the company noted an independent auditor’s evaluation of the company’s 2022 financial statements “remains unchanged.”
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Worldpay spin-off hands FIS mixed bag
The payments processing and technology company will keep a stake in the Worldpay unit, but take on higher-interest-rate debt.
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ACI boots chief technology officer
ACI Worldwide has fired its chief technology officer just as it’s gearing up for the FedNow real-time payments system.
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PayPal considers Xoom sale: report
The digital payments company is considering a sale of its Xoom cross-border business, The Information reported, citing an unnamed source.
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Retrieved from Global Payments Spokesperson Matt Cochran on September 10, 2021
Global Payments execs hint at B2B acquisition
Global Payments isn’t looking for more acquisitions — except in the B2B space, its outgoing CEO said.
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Square adds franchise platform
Block-owned Square said the tool lets restaurant franchisors monitor multiple units on one dashboard.
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Card debt weighs on consumers
First-quarter credit card balances jumped 17% over the same period last year, according to New York Fed data.
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PayPal urged to accelerate CEO search
The digital payments pioneer faces pressure from investors to name CEO Dan Schulman’s successor sooner rather than later.