US businesses cling to paper checks

Large and small businesses alike are still using the 20th-century form of payment extensively, even as the federal government presses ahead with digital alternatives.

By Lynne Marek • April 7, 2025

Cap One-Discover deal detractors assail reported DOJ approval

Capital One’s $35 billion purchase faces two remaining federal approvals — and plenty of critics who expect consumers will face higher costs.

By Justin Bachman • April 6, 2025

Explore the Trendline➔

Top 5 stories from Payments Dive

Dominant card networks, legacy payments processors and young fintechs are all jockeying to keep up with industry innovations and increased competition.

By Payments Dive staff

Durbin rounds up CCCA support

The Democrat from Illinois asked retail and restaurant industry representatives this week to help build support for the Credit Card Competition Act, but it has yet to be introduced this year.

By Lynne Marek • April 4, 2025

Judge tosses racial bias suit against Citi over ATM fee waivers

The lawsuit accused the New York City-based bank of “unabashed racial discrimination” for waiving ATM fees for customers of minority-owned banks but not for white-owned banks.

By Caitlin Mullen • April 3, 2025

Visa, Mastercard have edge over Amex for Apple: analyst

As companies joust to become the tech giant’s card network, some analysts give Visa and Mastercard an advantage over American Express.

By Lynne Marek • April 3, 2025

Fiserv promotes Takis Georgakopoulos to COO

Georgakopoulos replaced Guy Chiarello as chief operating officer, with the latter moving to a different role at the payments processor.

By Patrick Cooley • April 2, 2025

Amex opposes shareholder proposals

A conservative legal group wants American Express to consider eliminating diversity goals to determine financial incentives for executives. A spokesperson for the card issuer says it no longer uses those goals in evaluating executive performance.

By Patrick Cooley • April 2, 2025

Clearing House ACH payments volume keeps climbing

The Clearing House and Nacha both reported 6%-plus growth rates in ACH volume for last year, compared to 2023.

By Lynne Marek • April 1, 2025

EWS drops Zelle standalone app

Zelle users will need to turn to their online banking portals starting today in light of Early Warning Services proceeding as planned with the shutdown of its Zelle app this month.

By Patrick Cooley • April 1, 2025

Discover CEO may reap $2.4M bonus

Michael Shepherd will remain as interim chief executive officer potentially through June, and receive a $2.4 million cash bonus if the sale to Capital One closes by then.

By Lynne Marek • March 31, 2025

CFPB plans to spike BNPL rule

The buy now, pay later industry sued to block the consumer-friendly rule, arguing that the services are not the same as those offered via credit cards.

By Justin Bachman • March 31, 2025

Executive Shuffle: Bolt, MoneyGram and DailyPay

New C-suite appointments so far this year demonstrate the payments industry’s efforts to digitize their offerings and cater to small business clients.

By Lynne Marek • March 28, 2025

Mercury raises $300M

The payments startup, which has backing from Marathon Management Partners and Andreessen Horowitz, aims to use the funds to expand its clientele and increase its profitability.

By Tatiana Walk-Morris • March 28, 2025

Swipe fee foes find legislative support in almost a dozen states

The battle to curb interchange fees has migrated from Illinois across the nation, with bills in 11 states seeing robust lobbying.

By Justin Bachman • March 28, 2025

CFPB nixes filing in case tied to Electronic Funds Transfer Act

The bureau’s brief was withdrawn because it “advances an interpretation of the law that has never been embraced by any federal court prior.”

By Gabrielle Saulsbery • March 27, 2025

Utah governor signs EWA law

The state joins a pack of others that have passed industry-friendly laws seeking to oversee earned wage access providers and their services.

By Lynne Marek • March 27, 2025

CFPB predicts late fee lawsuit settlement

The agency’s new leadership believes it can settle a 2024 lawsuit banks and business groups filed over an $8 cap on credit card late fees.

By Justin Bachman • March 26, 2025

Trump calls on federal gov’t to banish paper checks

The White House issued an executive order calling on the federal government to cease using paper checks by September, except in certain circumstances.

By Lynne Marek • March 26, 2025

Revolut US CFO aims for growth, maturity ahead of U.S. entry

Balancing agility and compliance is crucial for the digital banking platform as it seeks to expand into markets like the U.S., Revolut Chief Financial Officer Max Lapin said.

By Grace Noto • March 26, 2025

Fiserv CEO vows to keep Social Security Administration intact

Senate Democrats questioned Frank Bisignano on privatization of the federal agency’s function during a confirmation hearing Tuesday.

By Patrick Cooley • March 26, 2025

Fintechs egg on ‘willingness to challenge norms,’ Bolt president says

Justin Grooms expects fintechs to keep pushing the payments industry forward with more competition for legacy players.

By Lynne Marek • March 25, 2025

Banks bash Illinois trend-setting law on card swipe fees

Banks and credit unions are trying to kill a new Illinois law banning interchange fees, with a court filing, as multiple states seek to emulate the legislation.

By Justin Bachman • March 25, 2025

Fiserv CEO faces fire for Social Security cuts

Two Senate Democrats are calling on Frank Bisignano to oppose any cuts to Social Security ahead of hearings on his nomination to lead the agency.

By Patrick Cooley • March 25, 2025

Arkansas, Utah move ahead with EWA laws

The two states are the latest to pass legislation addressing workers’ growing practice of using earned wage access to tap their income before a regularly scheduled payday.

By Lynne Marek • March 24, 2025

Bank transfer fraud losses outpace crypto

The value of fraud losses last year was highest for bank transfers and payments, followed by cryptocurrency transactions, according to a report from the Federal Trade Commission released last week.

By Lynne Marek • March 21, 2025