Banking: Page 17
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Flywire acquires Invoiced for $55M
By way of the latest deal, the software company seeks to further expand its international payments services for its business-to-business clientele.
By Tatiana Walk-Morris • Aug. 9, 2024 -
Butsaya via Getty Images
US credit card balances climb to $1.14 trillion
Consumer credit card debt delinquencies are also on the rise, particularly among younger consumers, according to a New York Federal Reserve report.
By Tatiana Walk-Morris • Aug. 8, 2024 -
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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 -
Courtesy of Whataburger
JPMorgan fires up biometric payments processing
The biggest U.S. bank is piloting payments processing for biometric transactions, with plans to use it at the hamburger chain Whataburger, which lets customers pay with a face scan.
By Lynne Marek • Aug. 7, 2024 -
Courtesy of FIS
FIS starts to get its payments mojo back
Fidelity National Information Services is starting to recharge its card payments business in the wake of selling Worldpay, the company’s CEO said.
By Lynne Marek • Aug. 6, 2024 -
bernie_photo via Getty Images
Q&ACredit card delinquencies rise even as credit limits are extended
The two developments stem from greater use of credit cards, and could have implications for some businesses, says a Bain & Company analyst.
By Patrick Cooley • Aug. 6, 2024 -
Lynne Marek/Payments Dive
FedNow ‘could lower fees’ in future, analyst reports
The Federal Reserve instant payments system may cut fees after it attracts more financial institutions, or in the face of competition, a Wolfe Research analyst said, citing a FedNow official.
By Lynne Marek • Aug. 5, 2024 -
Spencer Platt via Getty Images
JPMorgan threatens to sue CFPB over Zelle
The bank flagged government inquiries over its handling of P2P disputes in May, and said Friday it would consider litigation if the agency issues an enforcement action.
By Dan Ennis • Aug. 5, 2024 -
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OpinionCredit Card Competition proposal should become law
“In the aftermath of the CrowdStrike outage, Congress and state lawmakers should look for opportunities to build backups and redundancies into critical online systems,” writes a payments consultant.
By Dan Swanson • Aug. 2, 2024 -
Lynne Marek/Payments Dive
Outdated tech could slow instant payment adoption: survey
Financial institutions expect business clients to be a driver of instant payment revenue, but adopting the technology comes with hurdles, the results of a recent survey showed.
By Tatiana Walk-Morris • Aug. 2, 2024 -
Courtesy of Fifth Third
Stripe, Fifth Third Bank to team on embedded services
The global digital payments company will team with the bank to offer embedded finance services to its clients.
By Patrick Cooley • Aug. 1, 2024 -
Justin Sullivan / Staff via Getty Images
ColumnIs Visa readying for an expiration of cards?
Slowing card volume growth in the network giant’s earnings report this month revived questions about the longevity of its core business.
By Lynne Marek • July 31, 2024 -
Permission granted by Victoria Reynolds
Q&A5 questions for Brex’s new compliance chief
When it comes to innovation, “if it's moving too quickly for customer protection to keep pace, it’s not happening,” said Sibongile Ngako, who recently joined the fintech as chief compliance officer.
By Caitlin Mullen • July 31, 2024 -
Permission granted by PayPal
PayPal CEO leans on big-name clients for growth
Alex Chriss, appointed to lead the digital payments business last year, noted the company is benefiting from ties to companies like Facebook parent Meta.
By Lynne Marek • July 30, 2024 -
Justin Sullivan via Getty Images
Milberg roils Visa-Mastercard settlement claims process
The law firm falsely suggested it represented well-known businesses in the claims filing process and blamed an outside party for the snafu that prompted a call for sanctions.
By Lyle Moran • July 29, 2024 -
I going to make a greatest artwork as I can, by my head, my hand and by my mind. via Getty Images
Affirm says CFPB’s proposed BNPL rules will confuse customers
In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.
By Patrick Cooley • July 29, 2024 -
Joe Raedle / Staff via Getty Images
Capital One racks up Walmart, Discover costs
The card company set aside more than $800 million to brace for credit card losses tied to its break-up with retail behemoth Walmart.
By Caitlin Mullen • July 29, 2024 -
Justin Sullivan via Getty Images
PayPal changes chairman, reduces board size
PayPal’s chairman of nine years left that post this week, and was replaced by one of the board’s newer members.
By Lynne Marek • July 26, 2024 -
Lynne Marek/Payments Dive
OpinionHow to speed up FedNow adoption
“Interfaces need to be standardized to ensure a consistent and reliable payment experience for businesses and consumers,” writes one payments software executive.
By Ani Narayan • July 26, 2024 -
Courtesy of Revolut Press Kit
Revolut faces more fraud claims than other UK banks: report
The fintech investigates each fraud claim independently of other cases, and takes such claims “incredibly seriously,” a spokesperson for the company said.
By Gabrielle Saulsbery • July 25, 2024 -
Spencer Platt/Getty Images via Getty Images
Zelle, big banks challenge senators on scam reimbursements
Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.
By Patrick Cooley • July 25, 2024 -
Permission granted by Clair
Q&AClair CEO backs CFPB rule proposal on EWA
Nico Simko supports the Consumer Financial Protection Bureau’s recent rule proposal, and it may be a competitive advantage for him.
By Lynne Marek • July 25, 2024 -
Justin Sullivan via Getty Images
Visa CEO ‘strongly’ disagrees with class settlement ruling
The card network giant expects the parties to negotiate a new settlement following a judge’s rejection of an agreement reached earlier this year, but its CEO notes that could happen after a trial begins.
By Lynne Marek • July 24, 2024 -
Google Maps
Fiserv to leverage artificial intelligence to help merchants
The payments behemoth says its data team will use AI to mine transactions on its products to help merchants and financial institutions profit.
By Patrick Cooley • July 24, 2024 -
Courtesy of Mastercard
FTC demands pricing input from Mastercard, others
The Federal Trade Commission demanded information from eight companies, including the card network, to better understand how consumer data is being used in the pricing of products and services.
By Lynne Marek • July 23, 2024 -
Scott Olson via Getty Images
Amex benefits from young cardholders’ spending
Gen Z and millennials are driving spending, sometimes as premium customers, to the benefit of the credit card company.
By Patrick Cooley • July 23, 2024
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