Banking: Page 16
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Paysafe taps FIS alum for CFO amid growth pivot
The iGaming payments platform is looking to expand on its “robust” performance in the first half of the year with the appointment of new financial leadership.
By Grace Noto • Sept. 4, 2024 -
Courtesy of U.S. Bank
U.S. Bank works to simplify SMB banking, payments
A recent survey by the bank is leading it to bring its payments and banking tools together to work for small and mid-size business clients in a more simplified way.
By Caitlin Mullen • Sept. 3, 2024 -
Explore the Trendline➔
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TrendlinePayments industry seeks to keep pace with fraudsters
As losses from fraud in payments have climbed, companies are seeking new tools to combat illicit schemes.
By Payments Dive staff -
Pilar Olivares/Reuters
PayPal joins group investing $15M in Brazilian startup
The digital payments pioneer expects the fintech to capitalize on the rise of buy now, pay later services in Brazil.
By Tatiana Walk-Morris • Aug. 30, 2024 -
Permission granted by David Schwarz
TrackerEarned wage access: Following states that have passed laws, or have legislation pending
States began passing laws friendly to the industry in 2023 and have continued to pursue them this year, even after the federal government weighed in with a stricter standard.
By Lynne Marek • Aug. 30, 2024 -
Sarah Silbiger via Getty Images
Fed official questions faster cross-border payments ties
Federal Reserve Governor Christopher Waller suspects there could be more fraud and money-laundering if countries move too quickly to link their faster payments systems, he said at a conference.
By Lynne Marek • Aug. 29, 2024 -
Permission granted by MoneyGram
MoneyGram, Adyen add chief technology officers
The payments companies are bolstering their tech leadership as big changes roil the industry and stoke competition.
By Lynne Marek • Aug. 28, 2024 -
Anna Moneymaker via Getty Images
CFPB chides retailers on fees for cash back
The federal agency surveyed major retailers and was concerned to find three retailers impose $90 million in fees annually when consumers ask for cash back with a debit or prepaid card purchase.
By Lynne Marek • Aug. 27, 2024 -
Permission granted by Aeropay
Aeropay targets pay-by-bank evolution in US
The Chicago fintech has moved from servicing small merchants to handling cannabis payments, and now it’s catering to gaming clients.
By Lynne Marek • Aug. 26, 2024 -
Joe Raedle / Staff via Getty Images
Consumers tap credit cards, loans to manage inflation: Fed report
Gen Z and millennials were the age groups most likely to use loans and credit cards to respond to higher prices, a Federal Reserve research report said.
By Tatiana Walk-Morris • Aug. 26, 2024 -
Lynne Marek/Payments Dive
Fed’s Waller eggs on payments research
Federal Reserve Governor Christopher Waller encouraged attendees at a summer research workshop to keep exploring payments systems, and innovations to overcome frictions in financial markets.
By Tatiana Walk-Morris and Lynne Marek • Aug. 23, 2024 -
Lynne Marek/Payments Dive
OpinionSurcharging doesn’t have to be a bad word
“The time has come to rethink surcharging not as a necessary evil but as a strategic advantage that can benefit both businesses and customers,” writes a Billtrust executive.
By Nick Izquierdo • Aug. 23, 2024 -
Scott Olson via Getty Images
Amex, Flutterwave partner in Nigeria
The collaboration marks the latest move by American Express to expand its footprint in Africa, which is the world's second-largest continent by population.
By Patrick Cooley • Aug. 22, 2024 -
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U.S. Bank buys healthcare payments firm
The bank’s acquisition of Tempe, Arizona-based Salucro Healthcare allows its Elavon unit to dig deeper into healthcare payments and billing services.
By Lynne Marek • Aug. 22, 2024 -
Permission granted by Money 20/20
Q&AMarqeta isn’t a ‘single-trick pony,’ CEO says
The embedded finance firm’s partnerships with Varo Bank, Affirm, Visa and Zoho and its new office launch in Warsaw, Poland, underscore the expansion of the payment platform's market presence.
By Rajashree Chakravarty • Aug. 22, 2024 -
Anna Moneymaker / Staff via Getty Images
EWA providers crusade against CFPB rule proposal
Earned wage access providers that backed state laws friendly to the industry are preparing for a fight over the Consumer Financial Protection Bureau’s plan to treat such payments like loans.
By Lynne Marek • Aug. 21, 2024 -
Win McNamee / Staff via Getty Images
Capital One, Citi plan to join FedNow in ‘near future’
The two big banks say they’ll soon connect to the Federal Reserve’s new instant payment system, even as other major banks remain on the sidelines.
By Lynne Marek • Aug. 20, 2024 -
Courtesy of Affirm
BNPL providers won’t face penalties during transition to new CFPB rule
CFPB Director Rohit Chopra said in a blog post that the agency will not fine companies making a good faith effort to follow regulations treating buy now, pay later loans like credit card transactions. His remarks follow significant industry pushback.
By Patrick Cooley • Aug. 20, 2024 -
Justin Sullivan via Getty Images
Visa-Mastercard settlement claims deadline postponed
Merchants seeking a piece of the $5.5 billion settlement now have until February 2025 to file claims, a federal judge overseeing the class action said.
By Lyle Moran • Aug. 19, 2024 -
Lynne Marek/Payments Dive
Mastercard to cut 1,000 employees in restructuring
The card network is shrinking its workforce as it restructures the company to focus more resources on some international markets.
By Lynne Marek • Aug. 19, 2024 -
Courtesy of Revolut Press Kit
UK fintech Revolut valued at $45B
The British fintech has completed a secondary share sale with new and existing investors to provide liquidity to employees.
By Gabrielle Saulsbery • Aug. 16, 2024 -
Lynne Marek/Payments Dive
FedNow to add more fraud tools, Fed official says
The Federal Reserve is still seeking to allay financial institutions' concerns that faster payments allowed by the new instant payments system could lead to faster fraud.
By Lynne Marek • Aug. 16, 2024 -
Courtesy of Klarna
Klarna jumps into banking business
The Swedish buy now, pay later company will let consumers use savings accounts to make payments, receive refunds and earn cash rewards from some retailers.
By Lynne Marek • Aug. 15, 2024 -
Win McNamee via Getty Images
Fintechs ramp up lobbying over earned wage access, crypto
Chime, PayPal and Block, for example, spent more on lobbying in the first half of 2024 than for the same span last year, OpenSecrets reported.
By Suman Bhattacharyya • Aug. 15, 2024 -
Spencer Platt via Getty Images
Senators ask Dimon to justify new checking account fees
“JPMorgan Chase is the industry leader when it comes to usurious overdraft fees,” Sens. Elizabeth Warren, D-MA, and Chris Van Hollen, D-MD, wrote in a letter sent Friday.
By Rajashree Chakravarty • Aug. 15, 2024 -
Win McNamee / Staff via Getty Images
Capital One insists Discover deal won’t increase card fees
The bank and credit card issuer told regulators in a letter that competition will require it to keep its products fairly priced.
By Patrick Cooley • Aug. 14, 2024
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