Banking: Page 17
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Travelers want to use credit cards, but often can’t
Spending by travelers and tourists is often done in cash or by debit card, even if most travelers would prefer to pay another way.
By Patrick Cooley • June 27, 2024 -
Spencer Platt / Staff via Getty Images
Bank of America zeroes in on banking app innovation
The team behind the bank’s CashPro app aims to stay a step ahead of rivals, including with payment approval features.
By Caitlin Mullen • June 26, 2024 -
Explore the Trendlineâž”
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TrendlineCross-border payments targeted for upgrades
When it comes to cross-border payments, businesses, non-profits and governments alike are determined to increase the speed of transactions and cut the cost.
By Payments Dive staff -
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Judge sways away from Visa-Mastercard settlement
On Tuesday, Judge Margo Brodie denied a preliminary settlement proposal made by the card networks Visa and Mastercard, and merchants who sued them in federal court nearly two decades ago.
By Lynne Marek • June 25, 2024 -
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Pennsylvania may ban interchange fees on sales tax
Democrats in the Keystone state’s House of Representatives are pushing a bill that would prohibit interchange fees from applying to sales tax when consumers make credit or debit card payments.
By Lynne Marek • June 25, 2024 -
Scott Olson via Getty Images
ColumnWhy a Visa-Mastercard settlement is likely to fall short
The persistence of the networks’ ‘honor all cards’ rule may be a key reason Judge Margo Brodie is unlikely to approve a negotiated resolution of the two-decade-old case brought by merchants.
By Lynne Marek • June 24, 2024 -
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Fed extends comment period on expansion of payment services proposal
The Federal Reserve said it will give the public two more months to comment on its plan to expand operating hours for its two large-value payments services, the Fedwire Funds Service and the National Settlement Service.
By Tatiana Walk-Morris • June 24, 2024 -
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Rain plans to raise more capital
The earned wage access provider seeks to raise $50 million, said its CEO, who is rooting for increased regulation of the industry.
By Lynne Marek • June 21, 2024 -
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Fiserv hires former JPMorgan executive
Takis Georgakopoulos worked for JPMorgan for 17 years before he departed earlier this month, and landed at the mega-processor as an advisor.
By Patrick Cooley • June 21, 2024 -
Moyo Studio via Getty Images
Amex to buy Tock for $400M
American Express said it will buy the reservation platform Tock from website builder Squarespace to buttress its dining digital services.
By Patrick Cooley • June 21, 2024 -
Justin Sullivan via Getty Images
PayPal fills CTO position with former Walmart exec
Former Walmart EVP Srini Venkatesan will replace Archie Deskus, who joined the payments firm in 2022.
By Roberto Torres • June 21, 2024 -
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Senate Republicans join battle against Fed debit card plan
Senators this week introduced their version of a House bill aimed at derailing the Federal Reserve’s plan to lower the cap on fees that card issuers can charge merchants on debit card transactions.
By Lynne Marek • June 20, 2024 -
Lynne Marek/Payments Dive
Faster payments catch on slowly: survey
About half of payments players surveyed recently by the U.S. Faster Payments Council said they have integrated faster payment technologies.
By Tatiana Walk-Morris • June 20, 2024 -
Chip Somodevilla via Getty Images
CFPB House hearing: 6 key takeaways
House Republicans expressed frustration that the Consumer Financial Protection Bureau decided to treat buy now, pay later loans like credit cards, while Democrats pushed for faster, cheaper remittance options.
By James Pothen • June 18, 2024 -
Chip Somodevilla via Getty Images
Apple to drop its BNPL option in US
The tech giant said it will discontinue its buy now, pay later service and shift to offering consumers alternative payment options.
By Patrick Cooley , Lynne Marek • June 17, 2024 -
Permission granted by Wise
Wise persists with reduced pricing approach
The fintech plans to continue its strategy of reducing prices for its customers, which is reflected in its forecast, interim CFO Kingsley Kemish said.
By Grace Noto • June 17, 2024 -
Courtesy of Brex
Brex moves to single-CEO model
Pedro Franceschi will become sole chief executive, while co-founder Henrique Dubugras will move to board chair as the company aims to go public in 2025.
By Dan Ennis • June 14, 2024 -
alexialex via Getty Images
Startup offers ‘credit-building’ debit cards for Gen Z
Startup Fizz is marketing itself as a company helping college students build credit and manage daily spending.
By Patrick Cooley • June 13, 2024 -
Justin Sullivan via Getty Images
EBay to accept Venmo
A week after dropping American Express, the online auctioneer said it will now accept payments through Venmo, a digital tool popular among Gen Z and millennials.
By Patrick Cooley • June 12, 2024 -
Courtesy of Apple
Apple unveils new iPhone touch and pay feature
The P2P ‘Tap to Cash’, which enables iPhone users to transfer money by holding their phones together, was unveiled along with a slate of other features Monday.
By Patrick Cooley • June 12, 2024 -
Techa Tungateja via Getty Images
OpinionFighting deepfakes via payments
“Since many of these deepfake software services accept credit cards, payments providers are on the front lines of detecting these companies,” writes one corporate compliance officer.
By Alan Primitivo • June 12, 2024 -
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Q&AUpcoming ISO 20022 transition leaves some finance players scrambling
The move to ISO 20022 is coming late next year and many financial institutions remain unprepared for the switch.
By Patrick Cooley • June 11, 2024 -
D-Keine via Getty Images
Cash use persists in US beyond pandemic
Consumers remained committed to cash use last year, even as the share of card payments rose and online payments increased, according to an annual Federal Reserve study.
By Lynne Marek • June 11, 2024 -
whyframestudio via Getty Images
Rivals Adyen, Stripe partner with Capital One to combat fraud
The three companies announced last Wednesday that they are teaming up to launch a free service intended to combat fraud and reduce the amount of transactions that are improperly declined.
By Patrick Cooley • June 10, 2024 -
Courtesy of Mastercard
Mastercard shepherds seven startups
The card network has selected a group of next-generation payment and banking startups for its accelerator program.
By Tatiana Walk-Morris • June 10, 2024 -
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Illinois heads toward landmark card interchange fee restrictions
The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.
By Lynne Marek • June 7, 2024
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