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

Explore the Trendline➔

Digital wallets proliferate as features advance

As more companies aim to offer digital wallets the rise in competition is sharpening their features.  

By Payments Dive staff

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

Visa proposes new plan for covering litigation liability

The card network’s board approved pursuing a shareholder vote on a new approach to covering potentially more than $35 billion in outstanding merchant claims against the company.

By Lynne Marek • Nov. 22, 2023

Bill beats back Melio speculation

Payments software company Bill isn’t in the market for “transformational” M&A and is more likely to pursue “tuck-in technology” type purchases, President John Rettig said on Friday.

By Caitlin Mullen • Nov. 22, 2023

Will China be a boon or bust for card networks?

U.S. card companies have gained a foothold in China’s market, but they must still win over banks and battle behemoth China UnionPay.

By Lynne Marek • Nov. 21, 2023

Credit card demand remains robust, rejections rise: New York Fed

As consumers have leaned on credit cards more in recent months, applications for credit card limit extensions also rose, the New York Fed said Monday.

By Caitlin Mullen • Nov. 21, 2023

Wise CFO credits customer growth for profit jump

The fintech’s nearly fourfold jump in profits comes as its chief financial officer is preparing to depart after an eight-year tenure.  

By Grace Noto • Nov. 20, 2023

Mastercard joint venture approved for China card processing

The No. 2 U.S. card company now has a means of processing card payments inside China, after years of waiting on Chinese government approvals.

By Lynne Marek • Nov. 20, 2023

BNPL regulation could contribute to consolidation: Moody’s analysts

Adapting to regulation could be a costly endeavor for BNPL companies already facing losses and more expensive funding costs, Moody’s analysts said.

By Caitlin Mullen • Nov. 20, 2023

5 takeaways from Michael Barr’s remarks at The Clearing House conference

The Fed's vice chair for supervision expressed optimism about FedNow’s benefits and said he expects it to co-exist with the privately owned RTP network.

By Suman Bhattacharyya • Nov. 20, 2023

Small business card debt has risen: Bank of America

Credit card spending for small businesses has largely been flat relative to last year, but balances have risen, the Bank of America report said.

By Tatiana Walk-Morris • Nov. 17, 2023

Visa warns consumers about holiday fraud

Better spelling on fake merchant sites and more advanced card skimmers are among the latest schemes that will be deployed by fraudsters during the year-end holiday shopping season.

By Lynne Marek • Nov. 17, 2023

Wex CEO taps endurance to lead

Melissa Smith has led the payments software and services company for nearly a decade, navigating once-in-a-lifetime events and spearheading an aggressive acquisition strategy.

By Lynne Marek • Nov. 16, 2023

Affirm adds account to bolster card

The buy now, pay later provider’s account will offer savings-level interest, ATM access and direct deposit, Affirm executives said. 

By Caitlin Mullen • Nov. 15, 2023

ADP, Convera partner on payroll, payments

The two companies have collaborated to integrate Convera’s payments services into ADP’s payroll software.

By James Pothen • Nov. 15, 2023

The Clearing House nabs top Fed official

The new hire is tasked with boosting adoption of The Clearing House’s RTP real-time payments system, as the new rival Federal Reserve FedNow system seeks to attract clients.

By Tatiana Walk-Morris • Nov. 14, 2023

DailyPay wage payments delayed due to Friday snafu

The early wage access company didn’t immediately make some payments to workers because of a snag related to the Veterans Day holiday.

By Lynne Marek • Nov. 14, 2023

BNPL companies face grim outlook, Moody’s says

Fierce competition, persistent losses and regulatory constraints are likely to push some players out of the buy now, pay later market, Moody’s predicted.

By Lynne Marek • Nov. 13, 2023

Bitcoin Depot CEO weighs in on new California law

Bitcoin Depot CEO Brandon Mintz contends a new California law will “create economic challenges” for his company and other crypto ATM operators.

By James Pothen • Nov. 10, 2023