EWA shouldn’t be regulated like loans

“Attempts to regulate EWA as credit threaten worker access to this innovative and consumer-friendly financial tool,” writes one earned wage access industry CEO.

By Darcy Tuer • April 5, 2024

Fiserv to let Brazilians use Pix in US

The payments processing giant is providing support to extend the Brazilian instant payments system to merchants and consumers around the world. 

By Lynne Marek • April 4, 2024

Explore the Trendline➔

E-commerce drives digital payment advances

As e-commerce activity continues to climb, providers of digital payment tools are likely to keep evolving their online offerings.

By Payments Dive staff

NY Fed enters cross-border tokenization effort

The central bank will join six other central banks in exploring blockchain technology to speed up international payments.

By James Pothen • April 4, 2024

Treasury Prime, Narmi partner to offer FedNow service

The partnership aims to simplify and accelerate the adoption of FedNow by small and medium-sized financial institutions in Treasury Prime’s network.

By Rajashree Chakravarty • April 3, 2024

Credit card complaints jumped 38% last year: CFPB

The Consumer Financial Protection Bureau received 70,000 card-related complaints from consumers last year, according to a report last week.

By James Pothen • April 3, 2024

Nuvei goes private in stock sale to Advent

The sale of the Canadian payments processor’s stock to the private equity firm will hand some investors a $560 million windfall.

By Lynne Marek • April 2, 2024

How Amex is entangled in the Visa-Mastercard settlement

The settlement gives merchants the ability to surcharge for nearly all Visa and Mastercard credit card transactions, and puts pressure on American Express to allow the same. 

By Lynne Marek • April 1, 2024

Stay competitive: Enhance your payment experience with U.S. Bank Card as a Service (CaaS)

For many companies, CaaS not only improves the customer experience but also yields expected—and sometimes unexpected—benefits for the business.

April 1, 2024

CFPB targets ‘bait-and-switch’ card reward programs

Major credit card providers saddle rewards programs with fees and interest, burdening consumers who carry balances, CFPB Director Rohit Chopra said.

By James Pothen • March 27, 2024

Discover CEO to exit for Ally

Michael G. Rhodes, who took the top post at Discover this year, is leaving to become the next CEO of the bank Ally.

By Caitlin Mullen • March 27, 2024

Walmart can end Capital One card tie early, judge says

It won’t be easy for Walmart to find a new partner to replace Capital One, though, said Brian Riley, co-head of payments at Javelin Strategy & Research.

By Caitlin Mullen • March 27, 2024

NY Assembly bill counters governor on BNPL

A New York assemblymember has introduced a buy now, pay later bill, countering one introduced in the governor’s budget bill.

By Lynne Marek • March 27, 2024

Capital One pledges to give Discover’s network a boost

Dominated by Visa and Mastercard, card network markets “sorely need an injection of competitive rivalry,” Capital One argued in its application to regulators to purchase Discover.

By Caitlin Mullen • March 26, 2024

DOJ calls Apple card fees ‘significant expense’ for banks

The tech giant’s fees for credit card transactions “cut into funding for features and benefits that banks might otherwise offer smartphone users,” the Department of Justice said in suing the company earlier this month.

By James Pothen • March 26, 2024

Visa, Mastercard reach landmark credit card settlement

The two biggest U.S. card networks agreed to cap interchange fees for five years, among other terms, to settle merchant litigation that has lasted nearly two decades.

By Lynne Marek • March 26, 2024

JPMorgan seeks embedded payments niches

The biggest U.S. bank aims to offer embedded payments software solutions in more industries for its corporate clients.

By Lynne Marek • March 25, 2024

How Visa handled ‘BidenCash’ card fraud incident

The card network giant identified 556,000 card accounts that were put at risk as a result of the cybercrime ring BidenCash’s release of data online in December.

By Tatiana Walk-Morris and Lynne Marek • March 25, 2024

Advocates urge transparency in Capital One-Discover review

More than 30 organizations demanded the deal not be subject to expedited federal review and that public hearings be held in the largest lending markets for both Capital One and Discover.

By Caitlin Mullen • March 22, 2024

Wisconsin passes EWA law as states’ paths diverge

Wisconsin became the third state to pass a law requiring that earned wage access providers be licensed, and leaving the payments unregulated under lending laws.

By Lynne Marek • March 22, 2024

PayPal’s new CEO takes the Venmo challenge

PayPal has been striving for more than a decade to better connect Venmo to merchants and make it pay off. Now, a new CEO has inherited the challenge.

By Lynne Marek • March 21, 2024

ABA, U.S. Postal Services jointly combat check fraud

American Bankers Association and the U.S. Postal Inspection Service are working together to educate postal and banking employees as well as consumers on the rising form of fraud.

By Tatiana Walk-Morris • March 21, 2024

Fed banks analyze consumer use of card promos

New research from the Philadelphia and Boston Feds finds that consumers are cycling through low APR credit card offers.

By Tatiana Walk-Morris • March 20, 2024

Clearing House’s ACH growth rate outstrips Fed

Automated payments volume processed by The Clearing House grew at a faster rate than at the Federal Reserve last year.

By Lynne Marek • March 19, 2024

Mastercard extends tie to Alipay

The card giant said the expanded partnership will let the Chinese digital wallet company’s 1 billion users send payments to 180 markets.

By Lynne Marek • March 19, 2024

Ballooning credit card balances loom over retail sales

The level of debt may surpass the all-time record this year, even when adjusted for inflation, some analysts say.

By Daphne Howland • March 19, 2024