The Latest
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Nevada bill would charter new payment banks
The new banks would connect directly to real-time payment rails like FedNow and ACH to potentially lower retailers’ transaction costs.
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Q&A
JPMorgan Chase taps payments tech head
The bank’s payments arm named Sri Shivananda to head up its technology operations this year. Now, he’s overseeing decisions on stablecoins, real-time transactions and other advances.
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Businesses grapple with payments fraud
Companies are struggling to keep up with fraudsters’ growing technological prowess, particularly in business email compromises.
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Google drops lawsuit against CFPB
The tech giant ended its court battle as the federal agency halted supervision of the company’s payments arm.
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CFPB rescinds 67 pieces of guidance
The rescissions are not final and will allow the bureau to evaluate whether each of the items was statutorily prescribed, CFPB Acting Director Russ Vought said.
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BNPL users struggle with payments
Nearly half of U.S. adults who have used buy now, pay later services experienced financial difficulties, such as overspending or missing a bill payment, according to a recent survey.
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Cash App profits disappoint
Block reported just 10% growth in first-quarter gross profit for Cash App, even after it added Afterpay to Cash App debit cards.
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Q&A
Marqeta chief focuses on revenue diversity, execution
Interim CEO Mike Milotich wants to boost the processor’s non-Block revenue and expand its embedded finance offerings via a new mobile app for customers.
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Stablecoin bill falters in Senate
Democrats demanded fixes to the GENIUS Act – designed to create a framework for bringing stablecoins into the U.S. financial system – and raised concerns about Trump’s ties with crypto ventures.
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Global Payments eyes cost cuts
The payments processor sharpens its focus on how to squeeze $600 million in “cost synergies” from its $24 billion purchase of Worldpay.
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Expensify predicts brand boom from Brad Pitt F1 film
The travel-and-expense manager is the top sponsor of Pitt’s fictional race team and says it expects a wave of new leads from Apple’s summer drama.
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Opinion
Banks must accelerate ISO 20022 prep
“While larger banks have made considerable progress in preparing for this transition, smaller regional banks and credit unions are largely lagging,” writes one IT executive.