Mastercard CEO pushes back against regulatory zeal

The Latest

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  Square buys BNPL player Afterpay for $29B

  The acquisition of the Australian buy now-pay later company is 12-year-old Square's biggest ever. With it, CEO Jack Dorsey aims to expand both Square's product suite and geographic reach.

  Retail

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  Klarna acquires Apprl to boost retail marketing

  By absorbing Apprl, Klarna will be better able to help retailers create social shopping content and track related sales.

  Retail

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  U.S. payments volume rises on B2B, Healthcare

  The national automated payments network led by Nacha logged another quarterly record, with the digital payment volume for the second quarter jumping nearly 10% and the value of those transactions soaring almost 25%.

  Retail

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  SWIFT launches cross-border service aimed at low-value transactions

  The new product lets small businesses and individuals send payments of less than $10,000 internationally, giving the network a potential foothold in a fintech-filled remittance space.

  Banking

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  Clearing House urges caution on CBDCs

  A Federal Reserve-backed digital currency could "destabilize both the domestic and foreign banking and financial services sectors," the payments system operator said.

  Banking

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  PayPal builds services as EBay breaks away

  The digital payments company's second-quarter net income slumped as it took a bigger blow than expected from "ripping off the Ebay band aid."

  Retail

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  Google Pay taps Marqeta for virtual card

  The two big payments brands are teaming up to deliver a virtual card that expands Google Pay users' purchasing power.

  Retail

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  Payment fintechs attract record capital in 2Q

  Fintech startups supercharged by a rise in e-commerce drew more capital from investors in the first half of this year than ever before.

  UPDATED: July 30, 2021 at 10:02 a.m.

  Retail

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  Fiserv, Goldman strike pact on cross-border payments

  Fiserv and Goldman Sachs have agreed to team up on offering cross-border payments in the first phase of a broader payments tie.  

  Banking

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  Column

  Details emerge from presidential panel on stablecoin

  Tether and Diem were reportedly the focus of the meeting and last week's Treasury Dept. "act-quickly" directive. The Justice Department is also allegedly probing whether Tether executives hid transactions linked to cryptocurrency.

  Banking

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  Alaska, Colorado residents carry most card debt, study says

  In a ranking of states where residents have the biggest credit card balances, those two states' residents carry the largest debt loads while Wisconsin and South Dakota residents carry the lowest average balances, according to a WalletHub analysis.

  Banking

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  Payments M&A is hot, but deals could face antitrust scrutiny

  The fintech industry faces “a wave of consolidation” for the remainder of 2021 and 2022, according to an industry report.

  Retail

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  Mobile wallet use projected to surge

  Mobile wallet use among North American consumers is growing, but not at the heady rates in other parts of the world, according to a new study that projects a worldwide surge.

  Retail

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  Discover optimistic about robust growth in 2022, experiences low delinquencies

  Discover is looking to "substantially increase" its share repurchase authorization and is optimistic about its "modest loan growth in 2021 and more robust growth next year," according to its Q2 earnings report.

  Retail

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  Card companies go green, but hurdles remain

  Card issuers, networks and manufacturers are working to shrink their carbon footprint as consumers become more environmentally conscious and global carbon emissions climb.

  Retail

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  How the pandemic has accelerated digital payments in telehealth

  Digitalization can simplify the medical bill payment process and give patients more information, earlier on, about their financial responsibilities, experts say.

  Retail

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  Tap-to-phone payments expected to gain traction, industry experts say

  As the need for mobile point-of-sale devices grows, companies are looking toward smartphones to streamline contactless payments.

  Retail

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  Opinion

  Creating financial inclusion in banking and payments

  "A bank account opens up a consumer’s access to not only their own money and a lack of fees, but it is essential to creating long-term financial health," argues one Washington advocate attuned to unbanked issues.

  Regulations & Policy

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  Square launches business banking, savings products

  Banking will allow Square to strengthen client relationships and drive higher customer lifetime value as it targets sellers who use the company's payment devices and inventory-management products, analysts said.

  Retail

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  Payveris launches P2P solution for banks and credit unions

  Payveris contends that its P2P toolset is more cost-effective than that of its big, bank-backed rival Zelle, and less of a competitive concern for smaller institutions.

  Banking

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  Why cybersecurity keeps payments executives up at night

  Payments are a critical part of the nation's infrastructure, so executives in the industry are under pressure to understand the evolving threat landscape.

  Regulations & Policy

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  Failed payments cost over $33 billion for North American banks: report

  The problem is costing financial services firms money and customers, the Accuity report found.

  Retail

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  Discover invests $30 million in BNPL company Sezzle

  Discover becomes the latest card network company to jump into the burgeoning buy now-pay later space.

  Retail

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  Fed seeks to dismiss or move retailers' North Dakota lawsuit

  Retail associations' case against the Fed's setting of debit fee caps is resurfacing familiar arguments from a prior battle over the issue. 

  Retail

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  Card companies' earnings likely to reflect rebound

  U.S. consumers are boosting their credit card spending as the country emerges from COVID-19 pandemic restrictions, but that may not necessarily mean a windfall for card companies' second-quarter results being released over the next two weeks.

  Retail

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