Banking: Page 18
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Michael A. McCoy / Stringer via Getty Images
Lawmakers push for crackdown on fintechs
Two U.S. senators demanded tighter regulations on BaaS and fintech partnerships, saying they pose “a broader threat to the stability of our banking system and the economy.”
By Rajashree Chakravarty • Sept. 17, 2024 -
Retrieved from Beijing Daily App on September 16, 2024
Visa, Mastercard enable rail transit payment in Beijing
The major card networks enabled systems that allow international travelers in China to use their cards to pay for Beijing rail transit as of last week.
By Lynne Marek • Sept. 16, 2024 -
Explore the Trendlineâž”
1401461124 via Getty Images
TrendlineTop 5 stories from Payments Dive
The digital evolution of payments is roiling the industry, forcing companies to rethink pricing schemes and revamp corporate strategies. Embedded payments, earned wage access, real-time systems and other innovations will transform the business.
By Payments Dive staff -
Justin Sullivan via Getty Images
U.S. Bank rolls out access to Paze digital wallet
The bank began offering the payments option from Early Warning Services to its credit and debit cards customers this week.
By Patrick Cooley • Sept. 13, 2024 -
Just_Super via Getty Images
Mastercard acquires cybersecurity firm for $2.65B
The acquisition is the latest in a series of cybersecurity firm purchases by the card network over the years.
By Lynne Marek • Sept. 12, 2024 -
dem10 via Getty Images
North American cashless payments to climb 7% by 2028: report
Real-time payments and open banking will drive the increase, forcing the shift even faster globally, a Capgemini report released this week said.
By Tatiana Walk-Morris • Sept. 12, 2024 -
Viorika via Getty Images
Airwallex eyes embedded payments in global push
The payments software provider is making “immediate bets” on the Brazil and Mexico markets, a company executive said.
By Grace Noto • Sept. 12, 2024 -
whyframestudio via Getty Images
Global Payments CEO reshapes the business
The payments technology company is getting a remake with job cuts, an acquisition and potential divestitures a year after Cameron Bready ascended to the CEO post.
By Lynne Marek • Sept. 11, 2024 -
Courtesy of PayPal
PayPal seeks to attract users offline
The digital payments pioneer is leaning on cashback rewards to attract more consumer use in stores, and will also tap near-field technology to expand.
By Lynne Marek • Sept. 10, 2024 -
Justin Sullivan via Getty Images
Amex taps troves of customer data
American Express eschews preset spending limits and instead relies on credit scores and spending history to manage risk, a company executive explained at a conference last week.
By Patrick Cooley • Sept. 10, 2024 -
Courtesy of Discover
Discover’s top lawyer leaves for Ally
Hope Mehlman is expected to take her new Ally role on Dec. 2, even as Discover faces high legal hurdles in completing an acquisition of its business by Capital One.
By Patrick Cooley • Sept. 9, 2024 -
Retrieved from Polaris Dawn on September 06, 2024
The fintech CEO who is becoming a frequent flier with SpaceX
On Jared Isaacman’s second trip to space, the billionaire plans to become the first private spacewalker. Shift4 investors will need to follow space news to learn about it.
By Justin Bachman • Sept. 9, 2024 -
Tero Vesalainen via Getty Images
Visa to upgrade pay-by-bank service in UK next year
The card network plans to make the account-to-account service available to consumers for paying bills, like rent, but eventually for other uses too, such as digital streaming.
By Patrick Cooley , Lynne Marek • Sept. 6, 2024 -
Scott Olson / Staff via Getty Images
Ex-Discover exec alleges age, gender bias in lawsuit
Diane Offereins is suing the card network over roughly $7 million in clawed-back equity, claiming she was a “convenient scapegoat” for Discover’s card misclassification issue.
By Caitlin Mullen • Sept. 5, 2024 -
Scott Olson / Staff via Getty Images
OpinionCFPB’s EWA rule may undo progress
“The CFPB’s plan to reclassify EWA as a loan could accidentally backfire on the agency by driving people right back to the payday lending industry,” writes one tech trade group professional.
By Adam Kovacevich • Sept. 5, 2024 -
Win McNamee via Getty Images
CFPB slammed with EWA commentary
The Consumer Financial Protection Bureau asked for public feedback on its earned wage access rule proposal and it got an earful.
By Lynne Marek • Sept. 4, 2024 -
Spencer Platt via Getty Images
Viral JPMorgan Chase glitch is ‘fraud, plain and simple,’ bank says
Some customers deposited bad checks and immediately withdrew funds before the checks bounced in a glitch that went viral on TikTok. Now, some users have holds on their accounts.
By Gabrielle Saulsbery • Sept. 4, 2024 -
Creative via Getty Images
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 -
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
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