Banking: Page 2

PayPal agrees to buy Paidy for $2.7B

The digital payments titan said it's buying the Japanese company to expand its "capabilities, distribution and relevance" in the third-largest e-commerce market in the world.

By Lynne Marek • Sept. 08, 2021

NovoPayment sets sights on US market

NovoPayment expects to land its first venture investment soon, just as it's extending its Latin American-focused financial services software business into the U.S.

By Lynne Marek • Sept. 08, 2021

JPMorgan to buy majority stake in Volkswagen's payments business

"One of the fastest-growing platforms is the connected car marketplace, whereby the car acts like a wallet for purchasing goods, services or subscriptions," a JPMorgan executive said.

By Anna Hrushka • Sept. 08, 2021

Mastercard to buy European open-banking company Aiia

The Mastercard acquisition will allow the big card company to cross-sell digital banking and payment services between its U.S. and European markets.

By Lynne Marek • Sept. 07, 2021

Consumer spending on cards jumped in July, research firm says

The rate of U.S. consumer spending on credit and debit cards surged 21% in July compared to a year ago as Americans welcomed the summer months and a decline in coronavirus cases.

By Wendy Cole • Sept. 02, 2021

Fed finds businesses eager for faster payments

The Federal Reserve said Tuesday that a survey of businesses last year revealed a majority are eager to make use of faster payments, with many ready to do so now. The Fed doesn't plan to launch its real-time system until 2023.

By Lynne Marek • Sept. 01, 2021

Competition for SMB payments clients heats up acquisitions

Some companies are buying up businesses that will help them cater to small and mid-sized clients, while others are getting out of the increasingly competitive arena.

By Lynne Marek • Aug. 31, 2021

Bank regulators issue guidance on partnering with fintechs

Community banks should evaluate fintechs' business experience and financial condition, information security and regulatory compliance, among other things, regulators said Friday.

By Anna Hrushka • Aug. 30, 2021

Amazon taps Affirm for installment financing

As Amazon explores payment options for its worldwide shoppers, it's turning to Affirm to test installment financing.

By Lynne Marek • Aug. 30, 2021

InComm Payments, Doxo to offer cash bill payments in stores

The partnership will stretch services for cash payment of bills to some 60,000 retail locations nationwide.

By Tatiana Walk-Morris • Aug. 27, 2021

Crypto ATMs multiply despite challenges to the currency

The biggest crypto kiosk companies are expanding as the value of bitcoin recovers and more merchants seek a piece of the action.

By Lynne Marek • Aug. 26, 2021

Fiserv strikes up a bevy of new partnerships

Fiserv has new ties to MovoCash, Selecta Group and Venmo that will allow it to keep expanding its digital payment services.

By Lynne Marek • Aug. 24, 2021

Deep Dive

Anti-fraud niche in payments thrives as e-commerce climbs

Major payments players and fledgling upstarts alike are developing new tools to fight increasing fraud threats to their businesses.

By Mercedes Cardona • Aug. 23, 2021

Consumer dissatisfaction with credit cards continues to rise

American Express still tops the latest J.D. Power national satisfaction rankings, but overall customer satisfaction with cards generally edged down.

By Wendy Cole • Aug. 19, 2021

Wells Fargo combines treasury management, payment units

The bank is poaching an executive from banking rival BNY Mellon to oversee the newly merged operations as it aims to reduce management layers.

By Dan Ennis • Aug. 19, 2021

How Square's Afterpay purchase advances its small-business banking goals

Square is "going to turn to all their small-business users and they're going to say, 'We're helping you with accounts receivable and now we can help you with accounts payable,'" says one analyst.

By Anna Hrushka • Aug. 18, 2021

Senators raise privacy concerns about Amazon One

Senators Amy Klobuchar, Bill Cassidy and Jon Ossoff questioned the security of customer data and noted the palm payment tool technology raises additional anti-competitive concerns.

By Tatiana Walk-Morris and Cara Salpini • Aug. 18, 2021

Paysafe acquires SafetyPay for $441 million

The purchase, along with another recent acquisition, is allowing Paysafe to expand in the Latin American region.

By Tatiana Walk-Morris • Aug. 17, 2021

Payments called 'dominant driver' for fintech investment: KPMG

The rise of venture capital and private equity investment in fintechs is likely to lead to more mergers and acquisitions in the arena too, a KPMG report said.

By Jim Tyson • Aug. 17, 2021

Walmart looks for a cryptocurrency strategy leader

The retailer follows Amazon in seeking a subject matter expert for a field that is still largely unproven. 

By Ben Unglesbee • Aug. 17, 2021

Zelle owner doubles down on marketing, targets older group

The digital payment network's owner, Early Warning Services, is trying to break through post-COVID competition for consumers' attention by demonstrating new use cases for the American family.

By Lynne Marek • Aug. 16, 2021

Coinbase attracts big hedge fund clients

The company has attracted 10% of the top 100 hedge funds as customers, and it's ramping up marketing to increase the visibility of its products, the company's CFO said. 

By Ted Knutson • Aug. 12, 2021

Fed weighs debit transaction rule clarification

Big bank, merchant groups weigh in on Fed rule clarification

Bank and merchant trade groups weighed in on the Fed's debit rule clarification at the 11th hour, digging in their heels in a long-time battle over whether to ease merchant access to increased debit transaction networks.

By Lynne Marek • Aug. 12, 2021

ZenBusiness launches money-management app

ZenBusiness positions itself as a one-stop shop for small business needs, but big tech rivals are also aggressively courting such micro-entrepreneurs.

By Suman Bhattacharyya • Aug. 10, 2021

Amazon strikes back at Visa fees with surcharge

Retail titan Amazon is taking on Visa by imposing a surcharge in one part of the world and leaving open the possibility of extending it elsewhere to fight what it calls "Visa's high cost of payments."

By Lynne Marek • Aug. 10, 2021