Banking: Page 19
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New York BNPL bill is dead, for now
Hopes for passing a 2024 buy now, pay later bill in New York state to regulate the nascent industry expired with the end of the legislative session last month. But next year could be a different story.
By Lynne Marek • July 2, 2024 -
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Q&AHow buy now, pay later benefits merchants
Research from online payments processor Stripe found that providing BNPL increases the average size and total number of sales.
By Patrick Cooley • July 1, 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 -
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Supreme Court lets complaint on debit fees proceed
The Supreme Court ruled Monday that a case challenging a debit card interchange rate set by the Federal Reserve can proceed.
By Lynne Marek • July 1, 2024 -
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Atlanta Fed taps payments head for operations chief
Cheryl Venable is exiting her role as chief of payments operations for the Federal Reserve Financial Services to take the new post.
By Lynne Marek • June 28, 2024 -
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Chuck morphs into a new Alloy Labs-backed effort
Community banks partnered with Alloy Labs and Payrailz a few years ago on a project called Chuck, in a bid to rival Zelle, but that effort has been subsumed by a stealthy successor.
By Lynne Marek • June 27, 2024 -
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Crypto firm Abra settles with 25 states for operating without a license
Abra agreed to repay customers some $82 million in crypto. CEO Bill Barhydt said all but $2 million, yet to be claimed, has been repaid.
By Gabrielle Saulsbery • June 27, 2024 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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
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