Banking: Page 24
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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 -
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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 -
Explore the Trendline➔
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TrendlineTop 5 stories from Payments Dive
The digital evolution of payments is roiling the industry, forcing companies to rethink pricing schemes and revamp corporate strategies. Embedded payments, earned wage access, real-time systems and other innovations will transform the business.
By Payments Dive staff -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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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Global Payments to wrap review soon
The payments processor plans to finish an assessment of operations in the next few months, aiming to streamline its business and pare units it can’t scale.
By Lynne Marek • May 2, 2024 -
Permission granted by Stripe
Stripe unbundles services as industry shifts
The company’s move to decouple embedded financial services from payment processing means it’s ready to pursue larger customers, analysts said.
By James Pothen • May 1, 2024 -
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Real-time consumer payments need standards to rise
To make instant payments a reality for consumers, the payments industry must work together to develop a common framework for the transactions, top industry executives say.
By Lynne Marek • April 30, 2024 -
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FTC sues Doxo over deceptive ads, junk fees
After the federal agency’s lawsuit landed Thursday, the Seattle bill-pay provider countered the allegations on Friday.
By Tatiana Walk-Morris • April 30, 2024 -
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NRF objects to Visa-Mastercard settlement
The National Retail Federation lashed out at a landmark Visa-Mastercard legal settlement Friday, calling the pact reached with some merchants last month “meager and temporary” relief.
By Lynne Marek • April 29, 2024 -
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OpinionWhy financial institutions should embrace ISO 20022
Adopting ISO 20022 payment standards can help U.S. banks and credit unions unlock richer data and stay competitive in the global financial marketplace.
By Sylvie Boucheron-Saunier • April 26, 2024 -
CFO Editorial Staff
FedNow pricing aimed at avoiding market disruption
The Federal Reserve aimed to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a Fed official said Wednesday.
By James Pothen , Lynne Marek • April 25, 2024
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