Banking
-
Courtesy of Coinbase
Coinbase stock gets $250 reference price, and slow trading start
Nasdaq gave the Crypto exchange's new stock a reference price ahead of the start of trading today which creates a valuation of about $65 billion before any shares traded hands.
By Lynne Marek • UPDATED: April 14, 2021 at 6 p.m. -
PNC's 'low cash mode' gives users 24-hour overdraft buffer
The feature lets customers choose which payments will be processed if an overdraft is imminent. Tests of the product have helped users reduce insufficient-funds fees by more than 60%, the bank said.
By Anna Hrushka • April 14, 2021 -
Electronic payments surged for banks in 2020
The value and volume of digital payments accelerated last year, according to Nacha's annual report, as the pandemic shifted more business and consumer activity online.
By Lynne Marek • April 13, 2021 -
Courtesy of https://corporate.walmart.com/photos/walmart-store-exterior-at-night
Walmart's fintech startup may take aim at payments
The litany of services "Hazel by Walmart" may offer includes multiple payment services, including credit card and debit cards, as well as prepaid card payment processing and electronic funds transfer.
By Dan Ennis • April 09, 2021 -
Anna Hrushka/Payments Dive
Over 110 fintechs, banks flood into FedNow real-time payments pilot
The test case, a precursor to an expected 2023 debut, is "the Fed's effort to get into the instant payments space," said Anne Sharkey, senior vice president of operations at First Internet Bank.
By Anna Hrushka • April 07, 2021 -
Buy now, pay later moves into professional services
The rise in popularity of BNPL isn't just a fad, but will stick around even after the pandemic subsides, Brandon Rembe, chief product officer at Envestnet-Yodlee, said.
By Vaidik Trivedi • April 06, 2021 -
Getty Images
Deep Dive6 Payments trends for 2021
The pandemic accelerated emerging payments trends, as "both the merchant and customer side picked up pace to evolve with changing market conditions," Forrester analyst Lily Varon said.
By Vaidik Trivedi • April 05, 2021 -
Mastercard partners with fintech companies to fend off tech upstarts
Established payments companies are increasingly turning to technology partners to offer services that help them compete.
By Lynne Marek • March 31, 2021 -
Visa Press Release
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 -
Courtesy of Visa
Visa rolls out stablecoin pilot program with partner Crypto.com
Visa is diving into digital assets with a new credit card program that will settle partly with a stablecoin using the cryptocurrency Ethereum.
By Lynne Marek • March 29, 2021 -
Retrieved from ILGA.gov on March 25, 2021
Illinois moves to create special charter for digital assets trust
Illinois angles to get a jump on other states, and an edge in attracting new business, by creating a new special banking charter for digital asset trusts.
By Lynne Marek • March 25, 2021 -
MicroStrategy CEO: Treasurers should buy Bitcoin as cash alternative to hedge inflation
Record stimulus is likely to stoke inflation, making Bitcoin an attractive backstop for corporate treasurers, according to Michael Saylor, who leads the business intelligence software company.
By Jim Tyson • March 24, 2021 -
Anna Hrushka/Payments Dive
No need to rush in creating a federal digital dollar, Fed chair says
Federal Reserve Chair Jerome Powell insists on Congress's approval before proceeding with a central bank digital currency. Meanwhile, the Senate's new banking panel chair is calling for faster action.
By Dan Ennis • March 24, 2021 -
Courtesy of Mastercard
Mastercard, Liberty Tax team up to expedite stimulus payments
"Prepaid cards help to bring more people into the digital economy and offer an added level of convenience, with funds available faster and eliminating the need to cash a check," a Mastercard spokesperson said.
By Vaidik Trivedi • March 19, 2021 -
Fotolia
Mastercard, Visa to postpone some fee increases next month
Bowing to pressure from the White House and Congressional Democrats, the credit card companies won't increase expenses for merchants and consumers who are still coping with the pandemic.
By Lynne Marek • March 16, 2021 -
Courtesy of Wells Fargo multimedia resources
Fintechs Chime, Current beat legacy banks with stimulus check distributions
Meanwhile, customers criticized Wells Fargo and JPMorgan Chase over the weekend for slow distribution.
By Dan Ennis • March 15, 2021 -
Permission granted by Stripe
Stripe's new $95B valuation makes it the most valuable Silicon Valley startup
The payments processing company's new valuation is based on raising $600 million in new capital that it plans to use for further expansion in Europe.
By Lynne Marek • March 15, 2021 -
:Weatherman1126. (2007). "Logo of The Goldman Sachs Group, Inc." [Image]. Retrieved from Wikipedia Commons.
Goldman Sachs bows to clients, embraces 'digital money,' bank president says
"There's no question in our mind, there's going to be more digital commerce, a lot more, an explosion in digital commerce," said Goldman President John Waldron.
By Lynne Marek • March 11, 2021 -
Courtesy of Dosh
Why Cardlytics acquired fintech Dosh for $275M
With Dosh, Cardlytics gets access to a younger user base, a roster of fintech clients and a toolset to launch new cash back reward offerings in weeks instead of months.
By Suman Bhattacharyya • March 10, 2021 -
Fotolia
Credit card debt cut by $83B in 2020, study finds
Consumer frugality dropped the country's overall credit card tab under $1 trillion, but spending picked up again in Q4 and Americans are likely to be back to their old habits soon, data firm WalletHub found.
By Lynne Marek • March 09, 2021 -
Plaid payroll product streamlines income verification
Plaid Income is the second product the company has launched since the termination of a proposed $5.3 billion tie-up with Visa, signaling the scrapped deal is not slowing the expansion of the fintech's suite.
By Anna Hrushka • March 08, 2021 -
Deep DiveCan banks win in the booming buy-now-pay-later space?
While BNPL represents a relatively small niche of the payments ecosystem, banks should take note of what the growth of that silo says about the next generation of consumers, one consultant said.
By Anna Hrushka • March 08, 2021 -
Square launches long-awaited industrial bank
The FDIC gave the fintech conditional approval for an ILC charter nearly a year ago. Now the company can originate small-business loans rather than doing so through its previous partner, Celtic Bank.
By Dan Ennis • March 02, 2021 -
Dollar Photo
Inside Marqeta's plans to grow its 'card-as-a-service' offering
The card issuer and processor is differentiating through a flexible, API-based platform that helps clients launch card offerings in months instead of years.
By Suman Bhattacharyya • March 02, 2021 -
Gemini Exchange moves into credit cards, yield-bearing programs
Crypto exchange’s push is the latest in the growing list of blockchain players adding banking-like benefits.
By Ted Jackson • March 01, 2021
