Banking: Page 2
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Crypto theft doubles to $1.38B
The May theft of over $300 million worth of bitcoin from Japanese cryptocurrency exchange DMM Bitcoin is the largest digital currency heist so far this year.
By Alexei Alexis • July 11, 2024 -
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Q&AVersapay plunges ahead with new C-suite team
The business-to-business accounts receivable player is weighing its strategic options as CEO Carey O’Connor Kolaja lines up her new management team.
By Lynne Marek • July 11, 2024 -
Explore the Trendline➔
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TrendlineReal-time payments are on the rise
As the U.S. makes a move to encourage use of real-time payments, it’s following other nations in adopting the real-time advance.
By Payments Dive staff -
Permission granted by The Clearing House
The Clearing House’s RTP network logs Q2 records
The real-time payments system has been growing its roster of banks and credit unions, as it newly competes with the Federal Reserve’s FedNow service.
By Tatiana Walk-Morris • July 11, 2024 -
Mykola Pokhodzhay via Getty Images
Payroc preps for more acquisitions, envisions potential IPO
Fresh off its biggest acquisition ever, Payroc is pressing ahead with more acquisitions and preparations for a possible initial public offering.
By Lynne Marek • July 10, 2024 -
Courtesy of Klarna
Klarna, Adobe partner on buy now, pay later services
The tie-up will extend Klarna’s installment payment services to more customers buying from sellers on Adobe Commerce.
By Tatiana Walk-Morris • July 9, 2024 -
Joe Raedle / Staff via Getty Images
Visa-Mastercard settlement generates thousands of claim conflicts
Lawyers hope a court-approved extension of the claims filing deadline will provide time for resolution of conflicts and allow other business owners to file new claims in the interchange fee case.
By Lyle Moran • July 9, 2024 -
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Congress members egg on US payments system expansion
A bipartisan group is nudging the Federal Reserve to explain why it can’t speed up a plan to extend the operational availability of the U.S. payments system.
By Lynne Marek • July 8, 2024 -
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Discover to settle card class actions for $1.2B
The card company has warned it could face an additional financial toll related to the misclassification legal matter, in which it overcharged merchants for years.
By Caitlin Mullen • July 8, 2024 -
Mario Villafuerte via Getty Images
CFPB keeps scrutiny on medical cards
The Consumer Financial Protection Bureau has found some patients felt pressured by healthcare providers to use medical credit cards, according to an update on the federal agency’s efforts to protect consumers.
By Lynne Marek • July 8, 2024 -
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BNPL credit reporting hangs in limbo
The Consumer Financial Protection Bureau has long wanted buy now, pay later loans to be listed on consumer’s credit reports. So why didn’t it include that in a March rule for the industry?
By James Pothen • July 3, 2024 -
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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 -
Anna Moneymaker / Staff via Getty Images
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 -
Joe Raedle via Getty Images
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 -
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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 -
Google Maps
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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