Banking


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    Q&A

    Gen Z clings to new payment tools

    Gen Zers will abandon a transaction in one out of two cases if their preferred payment method isn’t available, says an EY payments specialist, citing the firm’s survey results. 

    By April 12, 2024
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    AndreyPopov via Getty Images
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    Opinion

    Digital wallets must take hold in B2B

    “Digital wallets, once primarily associated with consumer transactions, have now firmly established their presence in the B2B realm,” writes a Mastercard manager.

    By Lakshmi Sushma Daggubati • April 12, 2024
  • Image of a grocery cart floating over a laptop keyboard Explore the Trendline
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    Trendline

    E-commerce drives digital payment advances

    As e-commerce activity continues to climb, providers of digital payment tools are likely to keep evolving their online offerings.

    By Payments Dive staff
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    Ray Tan via Getty Images
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    EWA providers seek to steer state legislation

    Payactiv, DailyPay and other earned wage access providers teamed up in calling on the governor of Kansas to pass legislation similar to laws recently enacted in three other states.

    By April 11, 2024
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    Courtesy of Mastercard
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    Mastercard appoints three C-suite execs

    As part of the leadership changes and a corporate realignment, a long-time executive is also leaving the card network company.

    By Tatiana Walk-Morris • April 11, 2024
  • Alex Chriss, PayPal's next CEO
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    PayPal’s new CEO lands $42M pay package

    The bulk of that compensation stems from a major stock grant handed to Alex Chriss when he took the digital payments company’s top post last year.

    By April 10, 2024
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    Capital One’s Discover bid tops biggest Q1 tech-related deals

    The proposed Capital One-Discover merger made the list because of fintech issues that are at stake in the $35.3 billion deal.

    By Alexei Alexis • April 10, 2024
  • Consumer Financial Protection Bureau Director Rohit Chopra
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    CFPB, DOJ boost teamwork on cases

    The bureau will refer “potentially criminal conduct,” including “anti-competitive mischief,” to the DOJ for action, CFPB Director Rohit Chopra said Monday.

    By April 9, 2024
  • Sen. Richard Blumenthal, D-Conn., listens as Sen. Richard Durbin, D-Ill., speaks during a news conference after a hearing on gun violence on Capitol Hill on June 7, 2022.
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    Visa, Mastercard CEOs throw hearing off track

    Senate Judiciary Committee Chairman Dick Durbin postponed a plan to call credit card chieftains on the capitol carpet at a Tuesday hearing, but he’s still aiming to get them to Washington.

    By April 9, 2024
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    Ilya S. Savenok / Stringer via Getty Images
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    Fiserv CEO compensation rose last year to $28M

    Compensation for Fiserv CEO Frank Bisignano climbed 57% over 2022, as the value of stock awarded to him surged and he received a $3 million cash bonus.

    By April 8, 2024
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    Gerenme via Getty Images
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    Tension brews over healthcare payments: JPMorgan

    Healthcare consumers are often confused about the bill payment process, while providers grapple with delays and high collection costs, according to a survey by the bank.

    By Tatiana Walk-Morris • April 8, 2024
  • Consumer Financial Protection Bureau Director Rohit Chopra testifies before the Senate Banking, Housing and Urban Affairs Committee April 26, 2022 in Washington, DC.
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    Virtual marketplaces risk real losses: CFPB

    Virtual worlds “can become a haven for scams, fraud, financial losses, and unanticipated purchases that can deplete a family’s real-world financial assets,” CFPB Director Rohit Chopra said.

    By April 5, 2024
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    Opinion

    EWA shouldn’t be regulated like loans

    “Attempts to regulate EWA as credit threaten worker access to this innovative and consumer-friendly financial tool,” writes one earned wage access industry CEO.

    By Darcy Tuer • April 5, 2024
  • Fiserv to let Brazilians use Pix in US

    The payments processing giant is providing support to extend the Brazilian instant payments system to merchants and consumers around the world. 

    By April 4, 2024
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    Alex Wong via Getty Images
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    NY Fed enters cross-border tokenization effort

    The central bank will join six other central banks in exploring blockchain technology to speed up international payments.

    By April 4, 2024
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    Treasury Prime, Narmi partner to offer FedNow service

    The partnership aims to simplify and accelerate the adoption of FedNow by small and medium-sized financial institutions in Treasury Prime’s network.

    By Rajashree Chakravarty • April 3, 2024
  • CFPB Director Rohit Chopra participates in a meeting of the Financial Stability Oversight Council at the U.S. Treasury
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    Kevin Dietsch via Getty Images
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    Credit card complaints jumped 38% last year: CFPB

    The Consumer Financial Protection Bureau received 70,000 card-related complaints from consumers last year, according to a report last week.

    By April 3, 2024
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    Nuvei goes private in stock sale to Advent

    The sale of the Canadian payments processor’s stock to the private equity firm will hand some investors a $560 million windfall.

    By April 2, 2024
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    Scott Olson via Getty Images
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    How Amex is entangled in the Visa-Mastercard settlement

    The settlement gives merchants the ability to surcharge for nearly all Visa and Mastercard credit card transactions, and puts pressure on American Express to allow the same. 

    By April 1, 2024
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    Sponsored by U.S. Bank

    Stay competitive: Enhance your payment experience with U.S. Bank Card as a Service (CaaS)

    For many companies, CaaS not only improves the customer experience but also yields expected—and sometimes unexpected—benefits for the business.

    April 1, 2024
  • Director of Consumer Financial Protection Bureau Rohit Chopra speaking in front of a desk.
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    Alex Wong via Getty Images
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    CFPB targets ‘bait-and-switch’ card reward programs

    Major credit card providers saddle rewards programs with fees and interest, burdening consumers who carry balances, CFPB Director Rohit Chopra said.

    By March 27, 2024
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    Courtesy of Ally Financial
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    Discover CEO to exit for Ally

    Michael G. Rhodes, who took the top post at Discover this year, is leaving to become the next CEO of the bank Ally.

    By Caitlin Mullen • March 27, 2024
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    Justin Sullivan via Getty Images
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    Walmart can end Capital One card tie early, judge says

    It won’t be easy for Walmart to find a new partner to replace Capital One, though, said Brian Riley, co-head of payments at Javelin Strategy & Research.

    By Caitlin Mullen • March 27, 2024
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    Caitlin Mullen/Payments Dive
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    NY Assembly bill counters governor on BNPL

    A New York assemblymember has introduced a buy now, pay later bill, countering one introduced in the governor’s budget bill.

    By March 27, 2024
  • The Capital One logo is displayed on the side of its headquarters in McLean, Va.
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    Capital One pledges to give Discover’s network a boost

    Dominated by Visa and Mastercard, card network markets “sorely need an injection of competitive rivalry,” Capital One argued in its application to regulators to purchase Discover.

    By Caitlin Mullen • March 26, 2024
  • A woman holding a smartphone walks past a gray wall with an apple logo on a black sign.
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    DOJ calls Apple card fees ‘significant expense’ for banks

    The tech giant’s fees for credit card transactions “cut into funding for features and benefits that banks might otherwise offer smartphone users,” the Department of Justice said in suing the company earlier this month.

    By March 26, 2024