Authorized payment scams climb in US

Such scams are expected to jump 50-plus percent to $3 billion by 2027, forcing financial institutions to address the rising threat, according to a new report.

By Tatiana Walk-Morris • Dec. 14, 2023

Synchrony, Bread plan offsets to late fee cap

“I want that shoe to drop so we can start mitigating that issue,” Bread CEO Ralph Andretta said last week, as the industry awaits the CFPB’s final rule.

By Caitlin Mullen • Dec. 14, 2023

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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

Google-Epic trial outcome undercuts app payment model

The jury verdict in favor of Epic Games challenges the Google Play app store model that forces payments through its system, with fees up to 30% on sales.

By Robert Freedman • Dec. 13, 2023

FedNow may have spurred RTP adoption

The number of banks participating in The Clearing House’s real-time payments network surged this year after the launch of the rival FedNow system.

By Lynne Marek • Dec. 13, 2023

The Clearing House revamps leadership

Since his arrival in February, The Clearing House CEO David Watson has been remaking the company’s executive suite, with another appointment this week.

By Lynne Marek • Dec. 12, 2023

Discover’s new CEO brings bank experience

Michael G. Rhodes, previously the group head for Canadian personal banking at TD Bank Group, will take the helm at Discover in March.

By Caitlin Mullen • Updated Dec. 12, 2023

Mastercard ties growth to digital strategy

The network is advancing technologies to let consumers and businesses more easily use its cards, after doubling the number of merchants that accept them over the past five years.

By Lynne Marek • Dec. 11, 2023

Discover to spend at least $500M on compliance next year

“We’re going to continue to invest whatever we have to invest in order to get the compliance issues behind us,” CFO John Greene said last week.

By Caitlin Mullen • Dec. 11, 2023

Durbin bashes United Airlines in CCCA fight

Sen. Dick Durbin took to the Senate floor Thursday to push for a vote on the Credit Card Competition Act, taking a swipe at United Airlines along the way.

By Lynne Marek • Dec. 8, 2023

Amazon drops Venmo users

Jettisoning Venmo from the retail juggernaut’s marketplace is another strike against PayPal’s recent growth efforts.

By Lynne Marek • Dec. 7, 2023

Fiserv resurrects growth officer role for M&A focus

The payments processor has hired an enterprise growth officer who will zero in on M&A, strategy and ventures for the company.

By Caitlin Mullen • Dec. 7, 2023

PayPal taps Fiserv exec for top post

PayPal’s new CEO is making executive suite changes, creating a president of global markets post and tapping a payments industry veteran for the role.

By Lynne Marek • Dec. 6, 2023

Amex CEO talks co-brand partnerships after Apple reports

The card issuer’s premium designation isn’t compatible with all potential card issuing partners, Amex CEO Steve Squeri said Tuesday.

By Caitlin Mullen • Dec. 6, 2023

Banked builds a US presence

The fintech, founded in the U.K. and now building up operations in the U.S., expects its pay-by-bank services for bank clients will eventually lure retailers.

By Lynne Marek • Dec. 4, 2023

4 questions to ask when considering a new corporate card program

From increased expense visibility and control to added efficiencies and rebates, a commercial card is more than a card—it’s a strategic component of your financial strategy.

Dec. 4, 2023

FIS eyes small acquisitions

Fidelity National Information Services is on the hunt for smaller acquisitions in one of its divisions, and it’s benefitting from other companies’ deals in another.

By Lynne Marek • Dec. 1, 2023

Who wants Apple’s credit card? Analysts weigh in.

Synchrony, American Express and Capital One have all been floated by analysts as potential successors to Goldman Sachs for Apple’s credit card.

By James Pothen • Dec. 1, 2023

Wise targets US banks for int’l gains

The cross-border payments company aims to undercut U.S. banks with lower fees and faster transfers.

By Lynne Marek • Nov. 30, 2023

Discover pursues sale of student loan business

The card issuer said it’s seeking to offload its $10.4 billion student loan portfolio.

By Caitlin Mullen • Nov. 30, 2023

PayPal tackles chargeback fraud

PayPal is attacking illegitimate customer returns with new policies after a rise in e-commerce activity has fueled that type of fraud across the industry.

By Lynne Marek • Nov. 29, 2023

Apple seeks to end Goldman Sachs credit-card partnership: reports

The proposed winddown would entail the entire consumer partnership, including the savings account that was rolled out this year, sources told The Wall Street Journal.

By Anna Hrushka • Nov. 29, 2023

Chase credit card snafu trips up Black Friday shoppers

The biggest bank in the U.S. erroneously declined some credit card users’ purchases on Black Friday, the busiest shopping day of the year.

By Lynne Marek • Nov. 28, 2023

Credit card bill battle may slide into 2024

Prospects for passing the Credit Card Competition Act this year are dimming, but supporters and opponents remain locked in battle over the legislation.

By Lynne Marek • Nov. 27, 2023

NCR Voyix sells payments assets for $82M

The divestiture mainly consisted of merchant contracts, Voyix’s front-end authorization platform “and certain relevant intellectual property,” the company said in its quarterly filing.

By Caitlin Mullen • Nov. 27, 2023

Plaid poaches Adyen executive for European expansion

Brian Dammeir sees opportunities for Plaid’s payments business to grow in Europe, particularly in account-to-account payments, he said in a Wednesday interview.

By James Pothen • Nov. 22, 2023