Banking


  • Treasury Department Undersecretary Nellie Liang
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    Win McNamee via Getty Images
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    Treasury official calls for new regulatory framework

    The department’s undersecretary for domestic finance, Nellie Liang, suggested state oversight of money transmitters was outdated in an era of electronic payments.

    By Oct. 11, 2024
  • Money moving through cyberspace.
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    Viorika via Getty Images
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    MoneyGram attack exposed sensitive customer data

    The attack led to a days-long outage in September. The money transfer firm hasn’t described the nature of the incident or said how many people have been impacted.

    By Matt Kapko • Oct. 9, 2024
  • Creative image with coins jumping from one phone to another. Explore the Trendline
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    kentoh via Getty Images
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    Trendline

    Digital wallets proliferate as features advance

    As more companies aim to offer digital wallets the rise in competition is sharpening their features.  

    By Payments Dive staff
  • The exterior of the Fiserv Forum.
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    Daniel Boczarski via Getty Images
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    Fiserv teams with Canadian company on open banking

    Fiserv has allowed Zūm Rails to use its embedded finance system to bring open banking and instant payments to Fiserv’s U.S. business customers.

    By Oct. 7, 2024
  • Key on keyboard that says "Pay Now."
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    abdoudz via Getty Images
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    Real-time payments to make uneven progress, report predicts

    The number of banks receiving real-time payments will outpace the number of those sending payments through at least 2028, according to a new survey by the U.S. Faster Payments Council.

    By Oct. 7, 2024
  • Person uses a phone to pay with credit card
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    Sitthiphong via Getty Images
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    Oportun inks deal to sell credit card portfolio

    The deal, expected to close in November, is a push by the online lender to pursue profitability by simplifying its business and focusing on its core products. 

    By Rajashree Chakravarty • Oct. 4, 2024
  • Fiserv headquarters in Brookfield, Wisconsin
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    Google Maps

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    Fiserv nets special banking charter in Georgia

    The payments processor is only the second company to win the special bank charter since Georgia made it available.

    By Oct. 4, 2024
  • OCC
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    Retrieved from OCC.
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    OCC seeks to halt Illinois card interchange fee law

    The Office of the Comptroller of the Currency blasted an Illinois law that prohibits credit and debit card interchange fees on tips and excise taxes.

    By Oct. 3, 2024
  • U.S. Attorney General Merrick Garland stands at a podium with hands lifted, shrugging with a smirk.
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    Kent Nishimura via Getty Images
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    Visa expected to temper competitive moves after DOJ action

    The card network may bend to emboldened fintech rivals and more assertive merchants following the Justice Department’s antitrust lawsuit.

    By Oct. 3, 2024
  • A group of people wait outside a grocery store glass door that has a sign posted on it.
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    Jonathan Drake/Reuters

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    Hurricane Helene aftermath prompts card, cash troubles

    After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.

    By Oct. 3, 2024
  • A picture of an Uber Mastercard
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    Courtesy of Uber
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    Mastercard to buy Minna Technologies

    The card network will acquire the Swedish business in a bid to provide consumers with a centralized hub for managing their subscriptions.

    By Tatiana Walk-Morris • Oct. 2, 2024
  • Cash App logo lit in neon
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    Anna Webber via Getty Images
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    P2P payments tools lack transparency, consumer group says

    Zelle, the popular peer-to-peer payment service, and rivals should be more upfront with consumers about the ability to ask for money back, Consumer Reports says.

    By Oct. 2, 2024
  • Visa debit cards antitrust
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    Roy Rochlin via Getty Images
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    Visa boosts litigation funding ahead of US antitrust fight

    The company added $1.5 billion to a litigation escrow account as it battles a Justice Department lawsuit and ongoing legal case with merchants.

    By Justin Bachman • Oct. 1, 2024
  • A scene with people standing at colorful booths at the Nacha Faster Smarter Payments conference in Miami in 2024.
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    Lynne Marek/Payments Dive
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    Payments conferences to keep on your radar for 2025

    Artificial intelligence, FedNow and the ISO 20022 standards are expected to be hot topics at next year’s events.

    By Shefali Kapadia • Oct. 1, 2024
  • Digital payments
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    Courtesy of Adyen
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    Fed dissects consumer use of digital payments

    While most U.S. households have a bank account, just under half use a nonbank payment service, Kansas City Federal Reserve Bank research says.

    By Tatiana Walk-Morris • Sept. 30, 2024
  • Fiserv headquarters in Brookfield, Wisconsin
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    Google Maps

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    Fiserv, Wells Fargo to end joint venture

    The venture between the payments processor and the bank will expire in April, prompting a cash payment from one to the other.

    By Sept. 27, 2024
  • Ryan McInerney with arms folded
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    Permission granted by Andy Gerit
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    Visa to buy cybersecurity firm Featurespace

    The cybersecurity acquisition is the latest move in a race by card networks to meet their clients’ needs in keeping up with fraud threats.

    By Sept. 26, 2024
  • Bank sign on glass wall of business center
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    ultramarine5 via Getty Images
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    FDX seeks to become open banking standard-setter

    The Consumer Financial Protection Bureau will decide whether an organization’s practices are transparent and balanced enough to set standards for open banking.

    By Sept. 26, 2024
  • Visa cards are fanned out on table
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    Justin Sullivan / Staff via Getty Images
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    How Visa stymied big tech rivals

    The U.S. lawsuit paints a picture of the dominant card network using lures and threats to stifle competition from competitors Apple, PayPal and others.

    By Sept. 25, 2024
  • Visa debit cards antitrust
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    Kent Nishimura via Getty Images
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    DOJ suit accuses Visa of illegal debit payment monopoly

    The company threatens merchants with high fees, and "makes its potential rivals business partners to thwart competition in debit card processing," the DOJ says.

    By Justin Bachman • Sept. 24, 2024
  • A close up view of a stack of visa bank cards.
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    Justin Sullivan via Getty Images
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    Visa faces possible DOJ lawsuit, news reports say

    The card network may soon be sued by the Department of Justice over its debit card practices, according to multiple news reports citing anonymous sources.

    By Sept. 24, 2024
  • DailyPay CEO Stacy Greiner
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    Retrieved from DailyPay.
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    DailyPay to offer service outside US

    Earned wage access provider DailyPay plans to begin offering its services outside the U.S. for the first time later this year.

    By Sept. 23, 2024
  • Walmart on mobile and desktop
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    Courtesy of Walmart
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    Walmart, Fiserv team to offer real-time payments

    The retail giant and payments processor are targeting next year for offering consumers a real-time payment option online.

    By Sept. 20, 2024
  • Person holds a phone that shows Buy with Prime and PayPal.
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    Courtesy of Amazon
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    Amazon adds PayPal option to Buy with Prime

    The e-commerce platform will also let consumers connect their PayPal and Prime accounts next year, and access free shipping via Buy with Prime on some merchants’ sites.

    By Tatiana Walk-Morris • Sept. 20, 2024
  • Stack of credit cards spread out
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    bernie_photo via Getty Images
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    Reliant pushes back against CFPB lawsuit

    The card services company argued Wednesday that it has always been upfront with customers about fees, and was blindsided by the CFPB's legal action.

    By Sept. 19, 2024
  • A waiter serves a table at a nice restaurant
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    Rawpixel via Getty Images
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    Opinion

    Who really pays for your credit card reward points?

    "While rewards may feel like a bonus for those who use credit cards regularly, they ultimately come at a cost," writes one payments executive.

    By Parth Vatsal • Sept. 19, 2024