Banking: Page 24
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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 -
Justin Sullivan via Getty Images
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 -
Explore the Trendline➔
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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 -
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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 -
Justin Sullivan via Getty Images
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 -
Joe Raedle / Staff via Getty Images
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 -
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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 -
Courtesy of Amazon
ColumnPayPal’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 -
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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 -
Scott Olson via Getty Images
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 -
SARINYAPINNGAM via Getty Images
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 -
Courtesy of Mastercard
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 -
Joe Raedle via Getty Images
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 -
dem10 via Getty Images
New Nacha rules strike at push-payment fraud
“With respect to transaction monitoring for fraud, it would no longer be acceptable to do nothing,” Nacha Executive Vice President Michael Herd said.
By James Pothen • March 19, 2024 -
Courtesy of FuboTV
Nuvei forms committee to evaluate ‘strategic alternatives’
The Canadian payments company confirmed it’s in talks about a potential transaction with a third party, noting the committee will explore possibilities.
By Lynne Marek • March 18, 2024 -
marchmeena29 via Getty Images
Marqeta CFO touts EWA expansion
The card-issuing fintech has seen adoption of its debit card-linked EWA product increase as hourly workers at Walmart and Uber have been added, CFO Mike Milotich said.
By James Pothen • March 18, 2024 -
Lynne Marek/Payments Dive
CFPB warns of ‘dangers’ on standards for open banking
“We know dangers exist when more powerful players weaponize industry standards,” Consumer Financial Protection Bureau Director Rohit Chopra said in advance of finalizing an open banking rule later this year.
By Lynne Marek • March 15, 2024 -
Retrieved from Business Wire on March 14, 2024
Fiserv searches for ‘tuck-in type’ deals
Despite a focus on smaller acquisition options, the processor doesn’t feel confined to a particular price range, CFO Bob Hau suggested Thursday.
By Caitlin Mullen • March 15, 2024 -
Benson Ibeabuchi via Getty Images
OpinionFintech founder backs Google, Apple
“It’s easy for giant app companies to pick fights with Apple and Google, but when billionaire companies fight about who gets richer, it’s usually the little guy that loses,” writes CashEx’s CEO.
By Kingsley Ezeani • March 15, 2024 -
Permission granted by John Kraft
Q&AACI CEO weighs in on FedNow, cross-border payments
The federal real-time payments system may spool up slowly, but it could ultimately transform U.S. cross-border payments, ACI Worldwide's CEO predicted.
By Lynne Marek • March 14, 2024 -
Justin Sullivan via Getty Images
Banking apps fall short on fraud protections: report
Consumer Reports Senior Director Delicia Hand said preventing fraud and scams is "crucial" for traditional and digital banks alike, as more of their customers use their mobile apps.
By James Pothen • March 14, 2024 -
Caitlin Mullen/Payments Dive, data courtesy of Industry Dive employee Caitlin Mullen
Klarna’s IPO prospects grab spotlight
The BNPL provider’s CEO has suggested the company could IPO “quite soon,” but fintech investors expect the market will first want to see a stronger track record of profitability.
By Caitlin Mullen • March 13, 2024 -
FangXiaNuo via Getty Images
PayPal, Mastercard add C-suite hires
Payments firms are loading up on new C-suite hires this year as some in the industry build out new management teams.
By Lynne Marek • March 13, 2024 -
Anna Hrushka/Payments Dive
FDIC pushes regulators to address tokenization
Tokenization could be a "major leap" for the monetary system. FDIC Vice Chairman Travis Hill doesn't want the U.S. to be left out.
By Gabrielle Saulsbery • March 12, 2024 -
Permission granted by PayPal
PayPal may axe straggler business units
On the fringes of the digital payment pioneer’s two main businesses are some in a third category that could be jettisoned this year, CEO Alex Chriss said last week.
By Lynne Marek • March 12, 2024 -
Permission granted by Andy Gerit
Visa spends ‘billions’ battling cybersecurity threats
“We are all in an arms race to protect this ecosystem, to protect the network,” Visa CEO Ryan McInerney said at an investor conference last week.
By Lynne Marek • March 11, 2024
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