Fintechs attack cross-border business payments as banks and legacy players rush to innovate

Nonbank fintechs are gaining ground, mainly with small company customers, but target larger ones for cross-border business, even as competition gives way to symbiotic 'coopetition' with larger bank incumbents.

By Suman Bhattacharyya • May 25, 2021

Square may soon offer small-business checking and savings accounts, app code shows

The code indicates the company will not charge monthly service fees, minimum balance fees or overdrafts on its checking account, and will offer a 0.5% interest rate on its savings account through 2021, Bloomberg reported.

By Dan Ennis • May 25, 2021

Payments giant FIS makes another crypto move, expanding in Europe

"We’ll be well-positioned to handle (cryptocurrencies) across the whole ecosystem in the marketplace," FIS President Bruce Lowthers said at a recent industry conference.

By Lynne Marek • May 24, 2021

Square and Plaid partner to provide ACH payments to merchants

Square aims to draw larger merchants to its services with the new offering, while continuing to cater to smaller businesses growing into the middle market.

By Vaidik Trivedi • May 20, 2021

Cedar to acquire OODA Health for $425M to digitize, simplify healthcare bill payments

The two companies join forces to digitize medical bill payment processes after the pandemic increased telemedicine use.

By Vaidik Trivedi • May 19, 2021

Green Dot doubles down on tax refund processing

The fintech will bulk up its tax refund processing services with the acquisition of Republic Bank's tax refund processing unit for $165 million.

By Lynne Marek • May 18, 2021

Marqeta IPO shares pop 13% on first day of trading

Marqeta, which counts payments technology company Square as its largest customer, raised $1.23 billion from the initial public offering.

By Lynne Marek • Updated June 10, 2021

EBay taps Payoneer for cross-border multi-currency payments

EBay aims to ramp up cross-border payments through a partnership with Payoneer after an increase in sales during the pandemic.

By Vaidik Trivedi • May 10, 2021

Transparency, collaboration needed to spot online transaction fraud

False positives in the battle against e-commerce fraud are depriving retailers, credit card companies and payment processors of revenue on legitimate sales, CMSPI's Toby McFarlane said.

By Toby McFarlane • May 7, 2021

Payments fintechs lure big bucks in first quarter, report says

The payments industry was a particular magnet for money during the first quarter, attracting more than $6 billion worldwide, a CB Insights report found. 

By Lynne Marek • May 5, 2021

Appetize Technologies becomes a player at 15 more stadiums

The company that helps sports stadiums offer mobile and contactless ordering of food, drink and merchandise added five new major league and 10 new minor league venues to its roster as the baseball season gets underway. 

By Vaidik Trivedi • May 4, 2021

Biden plan would boost P2P payments services data sharing with IRS

The effort would require banks and P2P payment services to report annual account inflows and outflows to the IRS in an attempt to capture up to $460 billion in unpaid taxes, mostly from businesses.

By Dan Ennis • April 30, 2021

Fiserv benefits from SMB-business demand, pens PayPal pact

The payments processor has stoked small and mid-sized customer commerce with acquisitions over the past few years, including several in recent months, and will do the same with the new PayPal tie.

By Lynne Marek • April 28, 2021

TransUnion invests in blockchain startup Spring Labs

The investment can open doors for financial institutions that deal in huge swaths of consumer data to share information without sharing the underlying data, said TransUnion Senior Vice President Marko Ivanov.

By Vaidik Trivedi • April 26, 2021

Semafone partners with Avaya on payment security

Companies are developing secure payment channels for over-the-phone transactions as call centers pivot to homes and digital transactions pick up pace.

By Vaidik Trivedi • April 19, 2021

Tipalti, BlueSnap target trillion-dollar middle market

The two payments companies with cross-border capabilities see opportunity in the middle-market because few businesses in that segment have digitized their financial operations.

By Lynne Marek • April 19, 2021

Checkout.com rolls out new product to provide real-time payouts

The new payment interface enables merchants and individuals to process domestic and cross-border payments in real-time.

By Vaidik Trivedi • April 14, 2021

Payroc plans to keep buying up payments players

The payments processor, under a new president's focus on growth, has acquired two companies in the past two weeks and expects to close on additional deals this month.

By Lynne Marek • April 9, 2021

Rapyd targets Miami expansion as it eyes global growth

The company rolled out a $100 million promotion in the city last month, and it's starting to get some response.

By Matt Thibault • April 9, 2021

Payoneer stock declines after SPAC trading debut

The payments enterprise is the latest special purpose acquisition company to meet with tepid stockholder interest at its stock debut yesterday.

By Lynne Marek • Updated June 29, 2021

Fraud picks up as the economy goes digital during the pandemic, studies find

Digital transactions are vulnerable to fraud with more than $1 trillion stolen in 2020 due to cybercrime, new research from Sift and FICO revealed.

By Vaidik Trivedi • April 1, 2021

Visa expands payments network via Earthport acquisition

The company known for its credit and debit cards is building up its network to let payments happen without touching a card.

By Lynne Marek • March 30, 2021

Fiserv looks to boost POS business through Pineapple Payments acquisition

Fiserv looks to boost its Clover POS system sales by tapping into Pineapple Payments existing customers.

By Vaidik Trivedi • March 29, 2021

MoneyGram launches B2B service for global money transfer

Additionally, customers can transact through G-Coin tokens, which are backed by gold and allows people to own, save and spend the coin as a digital fiat currency.

By Anthony Epling • March 25, 2021

Jumio lands $150M from private equity firm Great Hill Partners

The company focuses on B2B services, using digital identity verification tools including biometrics, computer vision, big data and machine learning to verify account-holders' identity and thwart fraud. 

By Lynne Marek • March 23, 2021