Block to shrink workforce

The company plans to cut about 8% of its workforce over the next year as Jack Dorsey steps up his efforts to improve efficiency and revive profits.

By Caitlin Mullen • Nov. 3, 2023

PayPal discloses SEC, CFPB probes

The digital payments company said it’s cooperating with a Securities and Exchange Commission probe of its stablecoin, and a Consumer Financial Protection Bureau inquiry related to bank transfers.

By Lynne Marek • Nov. 3, 2023

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

Apple’s payments regulation woes mount

Regulators in the Netherlands, South Korea and Australia have targeted the tech giant’s payments business, and antitrust litigation is brewing in the U.S.

By James Pothen • Nov. 2, 2023

PayPal promotes Archie Deskus to CTO

The move expands the executive's oversight to include platform engineering teams, the company said Thursday.

By Roberto Torres • Nov. 2, 2023

Treasury Prime creates instant payment rail

The new payment rail allows fintech clients to move money between banks in milliseconds, the software company’s CEO said in an interview.

By James Pothen • Nov. 2, 2023

Klarna transfers 500 jobs in cost-cutting move

The buy now, pay later provider is outsourcing about 500 positions in 10 markets to two partners, a company spokesperson said.

By Caitlin Mullen • Nov. 2, 2023

PayPal’s new CEO promises improvements

Alex Chriss, who took the top post in September, tapped a new chief financial officer this week and pledged to refocus the payment company's strategy.

By Lynne Marek • Nov. 2, 2023

Non-bank financial institutions must report data security breaches: FTC

The amendment to the FTC’s Safeguards Rule would require non-banking financial institutions to report when they discover information impacting at least 500 people has been accessed without authorization.

By Rajashree Chakravarty • Nov. 1, 2023

Western Union grapples with growth goals

The cross-border payments company plans to revamp its loyalty program early next year as part of a plan to jump-start growth.

By Lynne Marek • Nov. 1, 2023

Payments players react to debit cap cut

The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.

By Caitlin Mullen • Oct. 31, 2023

Frequent flyer programs drawn into credit card bill fray

Sens. Dick Durbin and Roger Marshall, who have introduced legislation to spur credit card competition, called on federal regulators to investigate card frequent flyer program abuses.

By Lynne Marek • Oct. 31, 2023

Consumers expect to use fewer digital wallets: report

As more merchants accept digital payments for in-store purchases, consumers are moving away from using multiple, single-use payment apps, McKinsey Senior Partner Marie-Claude Nadeau said.

By James Pothen • Oct. 30, 2023

Discover discloses SEC probe

A pricing error by the card company that affected merchants and merchant acquirers triggered the investigation.

By Caitlin Mullen • Oct. 27, 2023

Brex exec straddles CFO, COO roles

As C-suite responsibilities change, the gap between roles such as the CFO and chief operating officer is narrowing.  

By Grace Noto • Oct. 27, 2023

Ingenico, Jifiti partner to offer payment options

The payments acceptance company is racking up partnerships to expand services under Apollo Funds ownership.

By Tatiana Walk-Morris • Oct. 27, 2023

BNPL, EWA bills surface at House hearing

The legislative proposals emerged at a Wednesday hearing during which lawmakers queried witnesses on payments and fintech issues.

By Caitlin Mullen • Oct. 26, 2023

Payments M&A bounces back in October

A burst of industry acquisition activity this month, after a mid-year lull, is expected to continue for the rest of the year.

By James Pothen • Oct. 26, 2023

U.S. Bank jumps into BNPL

The launch of the point-of-sale option Avvance comes as nearly one in five consumers surveyed by the New York Fed say they've used buy now, pay later loans within the past year.

By Gabrielle Saulsbery • Oct. 26, 2023

Fed proposes reduction in debit fee cap

The Federal Reserve Board proposed a rule change that would slash the amount card issuers can charge merchants for processing a debit transaction. The proposal also calls for periodic updates to the fee cap in the future.

By Lynne Marek • Oct. 25, 2023

PayPal taps Fiserv as ‘core’ payments partner

Fiserv CEO Frank Bisignano said Tuesday that his company is now PayPal’s “core U.S. partner for payment services.”

By Caitlin Mullen • Oct. 25, 2023

Visa leans into CFPB proposal

The card network’s CEO on Tuesday backed a recent Consumer Financial Protection Bureau proposal on open banking, but was more circumspect about Fed moves on debit rules.

By Lynne Marek • Oct. 25, 2023

Fiserv, Blackhawk Network push to expand bill-pay services

By increasing the number of retailers accepting walk-in bill payment, the two companies seek to better serve consumers who prefer to use cash.

By Caitlin Mullen • Oct. 24, 2023

Crypto legislation would put US ‘back in the game,’ stakeholders say

A pair of House bills would help the industry gain clarity, scale digital asset products and promote financial inclusion, cryptocurrency stakeholders said Sunday on a panel at Money20/20.

By Anna Hrushka • Oct. 24, 2023

BIS advances oversight structure for broader faster payments ecosystem

In the interest of faster, cheaper and more transparent cross-border payments, the Bank of International Settlements last week produced an interim report aimed at developing a governance structure for an interlinked faster payments system.

By Lynne Marek • Oct. 23, 2023

Visa faces remaining litigation settlements of up to $4B

That’s the maximum amount of money the card network estimates may yet result from settling claims brought against it years ago by merchants who argue they were overcharged for card transaction processing.

By Lynne Marek • Oct. 23, 2023