PayPal cost-cutting likely to persist

The digital payments pioneer’s expense reductions may take years to benefit the company’s bottom line as management resets the business strategy.

By Lynne Marek • Feb. 8, 2024

Aeropay partners with Cross River, UBank on sports gaming payouts

Digital payments provider Aeropay has lined up bank partners in an effort to facilitate faster access to winnings.

By Gabrielle Saulsbery • Feb. 8, 2024

Explore the Trendline➔

Payments 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

CFPB open banking proposal will be crucial

The agency’s open banking proposal is a step in the right direction, but details of the policy will shape how the market develops, a regulatory adviser writes in this op-ed.

By Jonah Crane • Feb. 8, 2024

Card debt climbs to record $1.13 trillion

Consumers’ credit card debt rose nearly 5% in the fourth quarter, compared to the third quarter, adding to delinquencies as well.

By Lynne Marek • Feb. 7, 2024

Fiserv CEO details special bank charter pursuit

The processing and acquiring company, which seeks a “very specific” special bank charter, doesn’t intend to compete with its financial institution partners, Fiserv CEO Frank Bisignano said Tuesday.

By Caitlin Mullen • Feb. 7, 2024

Fleet fintech ditches Visa for Mastercard

Fuel card startup AtoB, with $112 million in financial backing, plans to take on dominant fleet service rivals Wex and Fleetcor.

By Lynne Marek • Feb. 6, 2024

Fiserv lands Uber, eBay as debit network clients

The payment processing giant has signed more than a dozen large e-commerce clients following the Federal Reserve’s clarification of the debit routing rule.

By Caitlin Mullen • Feb. 6, 2024

Why ‘pay-by-bank’ faces adoption hurdles in US retail

Pay-by-bank has been catching on only slowly, and it’s a particularly long shot for showing up at the point-of-sale anytime soon.

By Suman Bhattacharyya • Feb. 5, 2024

Where will embedded payments flourish in 2024?

There are three areas where embedded finance is a good fit, and they are characterized by high volume and frequent payments, writes one industry executive.

By Julio Gomez • Feb. 5, 2024

Why Discover went all-in on open source

The card network’s tech leadership eased the product development process, removing barriers to innovation and opening pathways for engineers to advance.

By Matt Ashare • Feb. 2, 2024

Payments companies’ job cuts may not be done

PayPal, Block and Brex all started cutting employees in January in pursuit of efficiency and profits.

By James Pothen • Feb. 2, 2024

Lawmakers clash on CFPB digital payment rule

Democratic senators said the proposed rule would curb “rampant” fraud, while Republican Congress members said it would introduce “regulatory uncertainty.”

By James Pothen • Feb. 1, 2024

Mastercard preps for China business

The card network is readying to offer Chinese consumers its card services domestically after winning approval last year for a joint venture in that country.

By Lynne Marek • Feb. 1, 2024

NY AG sues Citi over denied fraud claims

“If a bank cannot secure its customers’ accounts, they are failing in their most basic duty,” New York Attorney General Letitia James said in a statement Tuesday.

By Dan Ennis • Jan. 31, 2024

Colorado lawmakers seek to require gun code use

Democratic legislators in the state have introduced a bill that’s similar to the law California passed last year requiring use of a gun merchant category code. 

By Caitlin Mullen • Jan. 31, 2024

What’s ahead for payments in 2024

The industry faces more upheaval this year as legacy companies and upstart fintechs jockey for the upper hand, and regulators monitor the competition closely. 

By Lynne Marek • Jan. 31, 2024

PayPal to cut 9% of workforce to bolster efficiency

The digital payments company plans to cut about 2,500 jobs, according to multiple news reports, shrinking the company as it seeks to jump-start profitable growth.

By Lynne Marek • Jan. 30, 2024

Payments regulation and legislation abound in 2024

Payments players can expect this year to be heavy with regulatory and legislative moves, both at the federal and state levels.

By Lynne Marek • Jan. 30, 2024

FTC, FloatMe reach $3M settlement

The cash advance provider “lured consumers in with false promises of free money advances,” and then made it difficult for them to cancel, FTC Director Samuel Levine said in a press release.

By James Pothen • Jan. 29, 2024

Visa debit payments growth slows

The card network reported a slowdown in U.S. payments growth in recent months, attributing the drag partly to new competition in online debit transactions.

By Lynne Marek • Jan. 29, 2024

Mastercard, TCH to enhance RTP network

The extended partnership between the two companies “focuses on co-development of new real-time payments capabilities,” a spokesperson for The Clearing House said. 

By Tatiana Walk-Morris • Jan. 29, 2024

Customer demand ebbs for Amex

Cardholders’ spending on airline tickets in particular decelerated during the fourth quarter, American Express CFO Christophe Le Caillec said Friday.

By Caitlin Mullen • Jan. 26, 2024

CFPB eyes NSF fee ban for transactions declined in real time

It’s an uncommon penalty, but the federal agency asserts that as technology advances, financial institutions may be able to block more transactions at the time of a swipe, tap or click.

By Gabrielle Saulsbery • Jan. 26, 2024

Manhattan DA seeks tighter payment app security

“No longer is the smartphone itself the most lucrative target for scammers and robbers – it’s the financial apps contained within,” District Attorney Alvin Bragg Jr. said.

By James Pothen • Jan. 25, 2024

Maryland EWA legislation draws protest

A Maryland bill calling for some earned wage access providers to be registered and licensed has triggered opposition from fintech advocates.

By Lynne Marek • Jan. 25, 2024