Banking: Page 21
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OpinionLet’s avoid legal patchwork for credit card surcharging
“All parties in the payments ecosystem would benefit greatly from state laws that provide clarity and consistency between jurisdictions,” write two legal professionals.
By Jonathan Razi and Keturah Taylor • May 23, 2024 -
Courtesy of Mastercard
Mastercard CEO outlines int’l ambitions
Mastercard has set its sights on expanding in China, Japan and elsewhere, Michael Miebach said in spelling out the company’s worldview. Last year, the company drew two-thirds of revenue from outside North America.
By Lynne Marek • May 21, 2024 -
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TrendlinePayments industry seeks to keep pace with fraudsters
As losses from fraud in payments have climbed, companies are seeking new tools to combat illicit schemes.
By Payments Dive staff -
Permission granted by Block
Sorry Cash App, Gen Z still wants bank branches
Young consumers are open to using the peer-to-peer payments app as their primary bank, but many say they won’t switch because they value having a physical branch.
By James Pothen • May 21, 2024 -
Lynne Marek/Payments Dive
Deep DiveReal-time lessons for FedNow from Brazil, India
The fledgling U.S. instant payments system can learn from real-time systems that have flourished in Brazil and India using QR codes and broad missions, say industry professionals.
By Christiana Sciaudone • May 21, 2024 -
Lynne Marek/Payments Dive
Fed plays crucial role in payments standard-setting
Federal Reserve Governor Christopher Waller last week underscored the central bank’s role for setting standards in the rapidly evolving payments arena.
By Lynne Marek • May 20, 2024 -
The image by Ted Eytan is licensed under CC BY-SA 2.0
OpinionCFPB should reconsider prepaid rule
The Consumer Financial Protection Bureau should revisit its rule affecting digital wallets, peer-to-peer payments and prepaid cards, writes one fintech group leader.
By Brian Tate • May 17, 2024 -
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Brex CFO mulls long-term IPO scenario
The prevailing attitude among companies seeking to go public is to achieve profitability beforehand, Ben Gammell said.
By Grace Noto • May 17, 2024 -
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Central banks seek firms for cross-border payment project
The Bank for International Settlements is seeking private sector participation in a smart-contract project designed by seven central banks to improve cross-border payments.
By Tatiana Walk-Morris • May 17, 2024 -
Kevin Dietsch via Getty Images
Supreme Court upholds CFPB’s funding structure
The 7-2 ruling puts an end to a case that threatened the bureau's existence and pushed at least two federal judges to pause CFPB rules, pending the high court's opinion.
By Dan Ennis • May 16, 2024 -
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EWA could create wage violations, Connecticut warns
The warning comes as states and the federal government weigh options for regulating earned wage access products.
By Kate Tornone • May 16, 2024 -
Courtesy of FIS
FIS eyes growth via acquisitions
Fidelity National Information Services is targeting revenue growth of as much as 4.5% this year as it scans the landscape for “tuck-in” acquisitions following the spin-off of Worldpay.
By Lynne Marek • May 16, 2024 -
Scott Olson via Getty Images
Fed, OCC to hold meeting on Capital One-Discover deal
Concerns about the $35B merger proposal, which has already faced opposition, are likely to surface again at the July public meeting.
By Lynne Marek • May 15, 2024 -
uschools via Getty Images
Fed bombarded by debit card fee commentary
The Federal Reserve Board said it has received some 2,500 comment letters regarding its Regulation II proposal to cut the fees that merchants are charged when they accept debit cards.
By Lynne Marek • May 14, 2024 -
Courtesy of 7-Eleven
7-Eleven testing financial services in stores
The retailer will add terminals to 3,000 of its Speedway locations and test services like cryptocurrency purchases with ATM solution provider FCTI.
By Jessica Loder • May 14, 2024 -
Anna Moneymaker via Getty Images
CFPB will keep defending late fee cap
The 5th Circuit Court of Appeals blocked the Consumer Financial Protection Bureau’s $8 late fee cap, but the federal agency said it will continue to “defend” the rule.
By Lynne Marek • May 13, 2024 -
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Sponsored by U.S. BankHow U.S. Bank Card as a Service (CaaS) can solve B2B payment bottlenecks
With CaaS, you can reimagine the payment process, offer new payment services and improve the customer or employee experience.
May 13, 2024 -
Permission granted by James Pothen
CFPB, DOT take aim at airline rewards
The two agencies raised concerns that airlines and card companies could arbitrarily devalue points accrued in their joint rewards programs, amounting to a bait-and-switch for customers.
By James Pothen • May 10, 2024 -
Kevin Frayer via Getty Images
Mastercard joint venture starts operations in China
The collaboration with a Chinese entity began Wednesday, with processing of cards issued by banks in the country following years of preparations.
By Lynne Marek • May 10, 2024 -
Lynne Marek/Payments Dive
Jack Henry, Visa see escalating FedNow volume
While the Federal Reserve won’t specify payments volume on the new instant system, executives from certified service providers Visa and Jack Henry said they’re seeing an increase.
By Lynne Marek • May 9, 2024 -
M_a_y_a via Getty Images
Will EWA payments expand with real-time?
While some earned wage access providers use real-time payments to make distributions to employees, the big payroll services provider ADP doesn’t see employers gravitating to that option.
By Lynne Marek • May 7, 2024 -
Leon Neal via Getty Images
Block integrates Afterpay with Cash App card
The test offering provides buy now, pay later financing to a limited number of users of Block’s Cash App debit card for “a small fee.”
By James Pothen • May 7, 2024 -
Lynne Marek/Payments Dive
Fed, TCH joust over interoperability
When it comes to bridging the FedNow and RTP networks, officials at the Federal Reserve and The Clearing House have slightly different priorities.
By Lynne Marek • May 7, 2024 -
Permission granted by Cushion
BNPL users tend to have lower incomes: Bank of America
The bank analyzed its BNPL user data and discovered low-income consumers are more likely to use installment payment services. It’s also popular among millennial and Gen X consumers.
By Lynne Marek • May 6, 2024 -
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Merchants urged to file claims for $5.5B payment card settlement
Requests for a slice of the Visa-Mastercard settlement are due by a May 31 deadline. Lawyers are racing to alert eligible businesses.
By Lyle Moran • May 6, 2024 -
Photographer unknown via Getty Images
OpinionPay-by-bank holds promise
“The value proposition of pay-by-bank is clear: merchants win from drastically lower payment costs and consumers win from lower prices,” writes one fintech executive.
By Eric Shoykhet • May 3, 2024
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