FedNow battles conspiracy theories

The Federal Reserve’s new instant payments system is confronting disinformation as it gears up for a launch, likely late next month.

By Lynne Marek • June 28, 2023

Square tests credit card for merchants

The card aimed at providing more financial services to merchants comes amid a slew of competition to serve that clientele.

By Caitlin Mullen • June 28, 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

Amex promotes deputy to CFO

When long-time American Express CFO Jeff Campbell exits in August, the company’s deputy CFO, Christophe Le Caillec, will take the top financial post.

By Caitlin Mullen • June 27, 2023

Credit card used to buy AR-15 rifle in New Mexico shooting

Police confirm the gunman’s father used a credit card to pay for part of a transaction that included the weapon purchase.

By Debbie Carlson • June 26, 2023

ATMs dwindle for third straight year

Can ATMs justify their existence in an increasingly cashless world?

By James Pothen • June 23, 2023

Robinhood to buy X1 card business

The online broker said it agreed to acquire the credit card business for $95 million. X1 doesn’t charge card holders annual or late fees, but does charge interest.

By Lynne Marek • June 23, 2023

Fees, interest charges rise to $347B: report

Fees and interest incurred on financial services, including credit cards, rose 14% last year, the Financial Health Network reported.

By Tatiana Walk-Morris • June 23, 2023

B2B must embrace digital payments

“B2B organizations have been slow to adapt to the changing demands and expectations of Gen Z,” writes a payments company vice president. “This is a huge mistake, and it can cost them dearly in the long run.”

By Justin Main • June 22, 2023

US servicemembers ensnared by digital payment app scams

Servicemember complaints about digital payment apps surged last year, according to a CFPB report, which also highlighted military families’ susceptibility to payments fraud.

By Lynne Marek • June 22, 2023

Visa hires CFO replacement

Card giant Visa has selected Chris Suh as its new chief financial officer. Suh, formerly at gaming company Electronic Arts and tech titan Microsoft, will receive a $3 million signing bonus and $20 million in longer-term compensation.

By Lynne Marek • June 20, 2023

Shell updates payment technology

The technology from Gilbarco Veeder-Root will update payment touchpoints at 13,000 of the fuel company’s U.S. pump locations. 

By Jessica Loder • June 20, 2023

Will Nevada’s law prod the CFPB on EWA?

Nevada’s new law on earned wage access increases the importance of hearing more from the Consumer Financial Protection Bureau about its view of the growing on-demand pay trend.

By Lynne Marek • June 20, 2023

Fraud losses to surpass $40B by 2027: report

One in five consumers worldwide have been victims of payment fraud in the past four years, according to an ACI report.

By Tatiana Walk-Morris • June 16, 2023

Nevada governor signs first state EWA law

Backers of the law establishing a licensing process for earned wage access providers operating in the state say it’s the first of its kind in the U.S.

By Lynne Marek • June 16, 2023

Visa launches fintech accelerator in Africa

The program is part of Visa’s effort to invest $1 billion in the continent’s digital transformation over five years.

By James Pothen • June 14, 2023

CFPB to hover as open banking evolves

The agency is eager to encourage open banking in the U.S., with plans for a rule proposal and oversight of standard-setting in the evolving arena.

By Lynne Marek • June 14, 2023

Banks too slow to address P2P payment scams, CFPB’s Chopra says

“They have been very slow to take action,” the bureau’s director said Tuesday, when asked if banks were creating frameworks to combat fraud and scams conducted on peer-to-peer payment platforms.

By Anna Hrushka • June 14, 2023

Global Payments mulls price increases

Global Payments CEO Cameron Bready called the payment services pricing environment “favorable” in light of increases rivals have made.

By Caitlin Mullen • June 14, 2023

Get ready for FedNow

“In the U.S., we never kill payment systems,” writes Modern Treasury cofounder Sam Aarons. “People still write paper checks. But the future of money, especially inside larger enterprises, is instant payments.”

By Sam Aarons • June 13, 2023

Paysend picks Amex alum for Americas CFO seat

The London-based cross-border payments company has tapped a Miami-based financial services veteran to help drive its expansion into the U.S.  

By Maura Webber Sadovi • June 12, 2023

FIS acquires Bond: reports

FIS has acquired Bond, according to two news outlet reports, including one backed by an internal company memo.

By Lynne Marek • June 12, 2023

Block’s Ahuja chases bitcoin users for Cash App

The digital payments company believes bitcoin “has the potential to transform the global transmission of money,” Block CFO Amrita Ahuja said Thursday.

By Suman Bhattacharyya • June 9, 2023

Affirm CFO acknowledges ‘difficult environment’

Bank failures and macroeconomic challenges have made capital markets challenging to navigate, Affirm CFO Michael Linford said. 

By Caitlin Mullen • June 9, 2023

Visa, Mastercard split on open banking

The two big U.S. card companies have diverging views on prospects for open banking. Will it make a difference in their rivalry?

By Lynne Marek • June 8, 2023

Capital One buys Velocity Black

Acquiring the travel, entertainment and shopping concierge service may advance the bank’s interest in having customers use credit card points.

By Rajashree Chakravarty • June 8, 2023