Banking: Page 2

'Super-apps' are the next evolutionary step for financial services

As transactions are increasingly digitized, financial service providers are vying to create "super-apps" that connect consumers to a bevy of financial services.   

By Vaidik Trivedi • June 07, 2021

Goldman Sachs taps Visa for cross-border payment upgrade

The global investment bank is aiming to streamline and enhance cross-border payments for its clients by signing on for Visa's cross-border programs.

By Lynne Marek • June 07, 2021

Mastercard invests in fledgling fintech Synctera

San Francisco-based Synctera, only six months old, draws $33 million from a pack of investors as it takes on the role of matchmaker between small banks and fintechs.

By Lynne Marek • June 03, 2021

Crypto exchange Kraken launches mobile app in US

Customers can buy and sell more than 50 crypto tokens from their mobile phones with a starting investment of as little as $10. The services are not available for residents of New York or Washington state.

By Dan Ennis • June 03, 2021

E-commerce fraud prevention startup Forter raises $300M

The recent funding round, which the company will use to expand its global ecosystem, brings the company's valuation to $3 billion.

By Tatiana Walk-Morris • May 27, 2021

Visa expands reach of fintech partnership program

The card network behemoth is doing its part to help banks connect with fintechs that it believes can help bring more business to all the companies moving money through the system.

By Lynne Marek • May 26, 2021

Wells Fargo to offer crypto investment product for wealthy clients

The bank's decision to wade into crypto follows similar moves made by other large institutions, and comes as the nation's top bank regulator has indicated it plans to review past crypto-friendly actions.

By Anna Hrushka • May 21, 2021

Federal Reserve to kick off conversation on CBDC

Federal Reserve Chairman Jerome Powell said yesterday that the Fed will issue a paper this summer to begin a public discussion about the possibility of a central bank digital currency.

By Lynne Marek • May 21, 2021

Major payments trade group weighs in on CBDC development

The Electronic Transactions Association is touting principles on interoperability, consumer protections and risk safeguards in Washington discussions about a central bank digital currency.

By Lynne Marek • May 20, 2021

Payments firms draw another $275 million in venture capital

DailyPay and Amount are the latest companies in the industry to attract investors' dollars.

By Lynne Marek • May 19, 2021

The Clearing House nudges businesses to buy into real-time system

The U.S. real-time payments system has invested $320 million in a real-time payments network, and now wants businesses to invest in their own systems to use it.

By Lynne Marek • May 14, 2021

Facebook-backed Diem shifts from Swiss to US jurisdiction

Diem Networks U.S. will register as a money services business with the Financial Crimes Enforcement Network, and Silvergate Bank will become the exclusive issuer of Diem's dollar-backed stablecoin.

By Anna Hrushka • May 13, 2021

Fed proposes review of debit transaction routing, but leaves fee alone

The Fed will review whether a rule requiring options in routing debit transactions is being followed, but angered merchants when it kept the cost basis for a national debit fee cap unchanged.

By Lynne Marek • May 13, 2021

Rho Technologies taps Mastercard for new corporate credit card

Rho Technologies is partnering with Mastercard to offer a corporate credit card after teaming with Visa on prior cards.

By Vaidik Trivedi • May 13, 2021

Visa invests in Remitly, extends partnership

Credit card behemoth Visa bought an ownership stake in Remitly, a phone app company seeking to build a payments network for immigrants sending money to other countries.

By Lynne Marek • May 12, 2021

Citi considers crypto services, but isn't rushing in

"This isn't a space race," Citi's head of global foreign exchange, Itay Tuchman, told the Financial Times. "There is room for more than just one flag."

By Dan Ennis • May 11, 2021

FIS links with NYDIG to offer Bitcoin services

The second-largest U.S. merchant payments processor is turning to the fintech firm to help provide banks with account services for Bitcoin.

By Lynne Marek • May 06, 2021

SoFi credit card to offer Bitcoin and Ethereum rewards

SoFi is the latest fintech to offer crypto-based credit cards after seeing an appetite for them in the market.

By Vaidik Trivedi • May 03, 2021

As US consumers ditched credit cards, delinquency rates dropped

Consumers turned to debit cards and made payments on credit cards during the pandemic in a shift that meant fewer losses for banks, an S&P Global Market Intelligence report found.

By Lynne Marek • May 03, 2021

Retail organizations sue Fed over debit law enforcement

Two North Dakota retail associations allege in a new federal lawsuit the Fed hasn't properly fulfilled its duty to determine "reasonable" debit card processing fees under a 2010 law.

By Lynne Marek • April 29, 2021

Visa taps cryptocurrency to ratchet up revenue

Visa executives this week detailed a litany of ways they're looking for cryptocurrencies to build the card network company's business, a striking shift from a year ago.

By Lynne Marek • April 29, 2021

Barclays US to offer merchants BNPL payments option

The bank had considered creating its own in-house BNPL system, but shifted gears and opted to work with tech firm Amount, said Barclays US CEO Denny Nealon.

By Anna Hrushka • April 27, 2021

IBM, Mastercard aid Saudi Arabia move toward cashless system

The U.S. companies' work for Saudi Arabia advanced the country's campaign to reduce cash transactions, even as some other countries refrain from efforts to do away with cash.

By Lynne Marek • April 22, 2021

Crypto exchange Binance lands ex-OCC chief for US CEO post

Former Acting Comptroller Brian Brooks will become chief executive of Binance's U.S. operation on May 1.

By Dan Ennis • April 21, 2021

Coinbase stock gets $250 reference price, and slow trading start

Nasdaq gave the Crypto exchange's new stock a reference price ahead of the start of trading today which creates a valuation of about $65 billion before any shares traded hands.

By Lynne Marek • UPDATED: April 14, 2021 at 6 p.m.