Rivals may chase Fiserv special bank charter lead

If the payments giant receives a special Georgia charter and gains access to the card networks, it could open the floodgates for other merchant acquirers, attorneys said.

By Caitlin Mullen • Jan. 25, 2024

PayPal floats service enhancements

PayPal this year plans to roll out the “biggest changes in a decade” to its pioneering payments tool in a bid to better serve merchants and customers.

By Lynne Marek • Jan. 25, 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

Brex cuts workforce by 20% in profitability push

“Looking inward, I realized we grew our org too quickly,” founder and co-CEO Pedro Franceschi said in a message to employees. 

By James Pothen • Jan. 24, 2024

Credit card delinquencies rise, especially for low-income earners

Credit cards balances, auto loans and high rents are straining low-income consumers’ limited budgets, the New York Fed details in a new report. 

By Tatiana Walk-Morris • Jan. 24, 2024

Klarna adds subscription plan

With an IPO on the horizon, the BNPL firm is offering customers a subscription service for $7.99 per month.

By Caitlin Mullen • Jan. 24, 2024

Synchrony to buy Ally’s POS lending unit

“This wasn’t a scaled business for Ally, but on our side, this is absolutely a scaled business,” Synchrony CEO Brian Doubles said Tuesday. “This is exactly the type of acquisition that we look for.”

By Rajashree Chakravarty • Jan. 23, 2024

Payments startups face pivotal year

Many venture-dependent startups that put off fundraising will be forced to do so this year or find an exit plan.

By Caitlin Mullen • Jan. 23, 2024

Jack Henry vaults COO to CEO seat

Greg Adelson, the company’s current president and chief operating officer, will take the reins from outgoing CEO David Foss in July.

By James Pothen • Jan. 23, 2024

Fed extends comment period on debit card fee proposal

The Federal Reserve extended the time period during which it will accept public comments on its proposal to reduce the cap on debit card fees.

By Lynne Marek • Jan. 23, 2024

Congressional card bill won’t yield benefit

If it were to pass, the Credit Card Competition Act proposal would result in additional costs without any gains, argues one payments industry consultant.

By Ken Musante • Jan. 22, 2024

DailyPay lands more financial support

The earned wage access company said it raised $75 million in new equity funding and $100 million in debt financing.

By Lynne Marek • Jan. 22, 2024

Law firms jockey for payments action

A proliferation of payments and fintech players has sparked a contest for talent among law firms seeking to meet clients’ needs.

By Lynne Marek • Jan. 22, 2024

Credit card surcharge bills lurk in state legislatures

The state legislation relating to credit card surcharges is poised to keep percolating in a pack of states this year, following new laws in some last year.

By Lynne Marek • Jan. 19, 2024

FedNow draws some banks, as others lag

The Federal Reserve is building up bank participation in FedNow, but some big financial institutions remain on the sidelines.

By Lynne Marek • Jan. 18, 2024

Discover lands servicer for student loan portfolio

Student loan servicer Nelnet will handle servicing of Discover’s portfolio while the card issuer markets it for sale, said CFO John Greene.

By Caitlin Mullen • Jan. 18, 2024

Payments M&A poised to rise this year

Conditions could be ripe for more payments deals in 2024, as legacy players seek to add unique technologies and struggling startups find themselves in need of an exit plan.

By Caitlin Mullen • Jan. 18, 2024

Visa picks fintech startups for accelerator

A debt repayment app startup and a small business lender are among the U.S. startups selected by the card network and its partner this year.

By Tatiana Walk-Morris • Jan. 17, 2024

CFPB proposal would cut overdraft fees

Overdraft fees would be reclassified as extensions of credit, forcing banks to disclose an APR. They could also be cut to as low as $3.

By Dan Ennis • Jan. 17, 2024

X gains money transmitter approval in Utah

X has been collecting money transmitter approvals in recent months to launch peer-to-peer payments in the app.

By Andrew Hutchinson • Jan. 17, 2024

Amex to sell fraud prevention firm Accertify

The card issuer is selling the business, which offers online fraud monitoring services to merchants, to the tech investment firm Accel-KKR.

By Caitlin Mullen • Jan. 16, 2024

PayPal elicits skepticism from analysts

Analysts have soured on PayPal’s prospects, at least for now, noting competition is encroaching on the payment pioneer’s turf as a new CEO tries to make gains.

By Lynne Marek • Jan. 16, 2024

Fiserv seeks special purpose bank charter

The designation would allow the payment processor to own transactions from end-to-end, removing the need for a bank partner.

By Caitlin Mullen • Jan. 12, 2024

Payments M&A in 2023 amounts to a whimper

October’s uptick in activity didn’t continue through the remainder of the year, capping a quiet year for merger and acquisition activity in payments.

By Caitlin Mullen • Jan. 12, 2024

Revolut hit with biometric ID class action in Illinois

Several tech companies have been hit with lawsuits under Illinois' Biometric Information Privacy Act in recent years.

By Gabrielle Saulsbery • Jan. 12, 2024

States race ahead of US lawmakers in payments

State lawmakers and regulators are out-running their national peers in giving direction to the fast-evolving payments industry.

By Lynne Marek • Jan. 12, 2024