FedNow pricing aimed at avoiding market disruption

The Federal Reserve aimed to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a Fed official said Wednesday.

By James Pothen , Lynne Marek • April 25, 2024

EWA providers hail new Kansas law

Kansas has joined a pack of states in passing a law backed by earned wage access providers, as regulations for the industry remain a contentious issue.

By Lynne Marek • April 25, 2024

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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

Visa debit card volume growth keeps sliding

The card network behemoth’s latest earnings report showed a contraction in card volume growth during the first three months of the year, and into April.

By Lynne Marek • April 24, 2024

Walmart offers a new BNPL option: report

The fintech One now offers buy now, pay later financing at the store chain, presenting competition for Affirm, which has partnered with the retail giant since 2019.

By Caitlin Mullen • April 24, 2024

Ramp may target US startups this year: report

After successfully raising $150 million in funding, the finance automation platform will have its choice of acquisition targets, according to research firm CB Insights.

By James Pothen • April 23, 2024

Video game industry preps for oversight

The CFPB report put gaming companies on notice that the long-expected regulatory scrutiny has arrived, according to professionals involved in the industry.

By James Pothen • April 22, 2024

Fed courts nonbanks for FedNow growth

The Federal Reserve is stressing the importance of fintechs and core providers for the future expansion of its new instant payments system FedNow.

By Lynne Marek • April 22, 2024

Codat seeks to topple check fraud with virtual card adoption

JPMorgan Chase is an early user of Codat’s Supplier Enablement product, which launched last week.

By Gabrielle Saulsbery • April 22, 2024

Amex endures slow return of SMB demand

Small and mid-sized businesses were fueling growth for American Express during the COVID-19 era, but not this year. That billed business grew 1% in the first quarter over last year.

By Lynne Marek • April 19, 2024

Accounts receivable automator Versapay taps new CFO

Ed Neumann is joining the AR platform provider as it looks to grow by targeting companies seeking to digitize their older manual systems.

By Maura Webber Sadovi • April 19, 2024

House committee advances EWA bill

The Republican-backed and industry-friendly bill was passed by the House Financial Services Committee despite pushback from Democratic lawmakers.

By James Pothen • April 18, 2024

Klarna overhauls credit card features

The Swedish buy now, pay later pioneer revised its approach to credit cards in the U.S. market, ditching a more expensive version it touted two years ago.

By Lynne Marek • April 18, 2024

Discover adds $799M to bolster reserves

The card network opted to increase the card misclassification remediation reserve, based in part on discussions with regulators, executives said Thursday.

By Caitlin Mullen • April 18, 2024

Fed keeps up CBDC research

Despite political opposition to a potential U.S. central bank digital currency, research staff at the central bank continue to study the possibility.

By Lynne Marek • April 17, 2024

CFPB $8 late fee cap edges toward reality

Despite an industry-backed lawsuit seeking to stop the Consumer Financial Protection Bureau’s new $8 late fee rule, bank card issuers are bracing for potential implementation.

By Lynne Marek • April 17, 2024

CFPB’s new late fee cap charts ‘a better way,’ says Sunbit CEO

“The credit card industry should take a page from innovators, instead of relying on yesterday’s fee models,” argues the CEO of the payment tools provider.

By Arad Levertov • April 16, 2024

FlexWage wins Vermont EWA carve-out

Earned wage access provider FlexWage has received leeway from the Vermont Department of Financial Regulation to operate in the state without a lender or money transmitter license.

By Lynne Marek • April 15, 2024

US, Europe lock arms on payments regulation

U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.

By Lynne Marek • April 15, 2024

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 Lynne Marek • April 12, 2024

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 an industry manager.

By Lakshmi Sushma Daggubati • April 12, 2024

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 Lynne Marek • April 11, 2024

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

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 Lynne Marek • April 10, 2024

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

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 James Pothen • April 9, 2024