Mastercard ‘cannot afford to ignore’ AI, CEO says

The card network company is considering using artificial intelligence in more ways, including in customer service, CEO Michael Miebach said.

By Caitlin Mullen • April 28, 2023

Justice debit probe draws in Mastercard

The Justice Department’s antitrust division issued a civil investigative demand to the card company as part of a debit card probe that has also entangled its larger rival Visa.

By Lynne Marek • April 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

Swift executive calls for payments standardization

“As a standardized format, ISO 20022 creates a common language for international payments the world over,” writes an executive in support of industry collaboration.

By Stephen Lindsay • April 26, 2023

Former Amex execs raise $78M for early stage fintech fund

Women-led Vesey Ventures, which has already invested in five startups, aims to bridge the gap between companies in need of new technologies and those building them.

By Rajashree Chakravarty • April 26, 2023

Visa’s CEO dismisses competition

Ryan McInerney isn’t worried about FedNow, debit rivals or AI challenging the giant card network company.

By Lynne Marek • April 26, 2023

Fiserv lines up bank clients for FedNow

The mega processor has a handful of bank customers in the Federal Reserve’s real-time payments pilot, and a pack signed up for services after the system’s July launch. It’s part of the company’s growth strategy.

By Lynne Marek • April 26, 2023

Fiserv takes lead back from FIS

Fiserv bested FIS in the competitive payments processing market last year, handling more transactions with a larger value, said an industry consultant.

By Lynne Marek • April 25, 2023

DailyPay racks up bank clients

Santander Bank last week became the latest in a string of financial institutions partnering with DailyPay to provide companies with on-demand pay services.

By Lynne Marek • April 24, 2023

Fed study highlights growth in card, ACH payments

Card, ACH and check payment values climbed from 2018 to 2021, as cash was left behind, according to the Federal Reserve’s noncash payments study.

By Caitlin Mullen • April 24, 2023

FedNow won’t bring ‘tidal wave’ of change

“Payments solutions reach scale when they provide better usability, affordability, and security,” write partners at a San Francisco venture capital firm.

By Kevin Jacques and Ben Malka • April 21, 2023

Profits slip for Amex, Discover

In light of rising charge-offs, the card companies on Thursday each reported adding to credit loss provisions. That put a dent in their first-quarter profits. 

By Caitlin Mullen • April 21, 2023

Same-day ACH payments soar

The dollar value of same-day ACH payments nearly doubled in the first quarter as the volume increased 20.7%, Nacha said this week in a quarterly update.

By Tatiana Walk-Morris • April 20, 2023

Fed to reduce cross-border payments program

The Federal Reserve plans to discontinue its cross-border ACH payments service to Europe and Canada later this year, Fed officials reiterated at a conference this week.

By Lynne Marek • April 20, 2023

CFPB focuses on BNPL consumer disputes

A Consumer Financial Protection Bureau official pointed to how buy now, pay later providers handle consumer disputes as a major area of concern for the agency.

By Lynne Marek • April 19, 2023

FIS executive compensation jumps

Compensation for FIS CEO Stephanie Ferris and former CEO Gary Norcross jumped significantly last year despite the company’s underperformance.

By Lynne Marek • April 18, 2023

US payments funding rebounds

U.S. payments venture funding surged in the first quarter of the year, largely thanks to Stripe’s March funding round, CB Insights said.

By Caitlin Mullen • April 18, 2023

Apple adds savings accounts for card customers

The tech company announced a series of new offerings in October, including a buy now, pay later service that arrived recently.

By Rajashree Chakravarty • April 18, 2023

FedNow spurs industry intrigue

Financial institutions, payments players and other businesses are being drawn in by FedNow, according to survey results presented at the Nacha Smarter Faster Payments conference.

By Lynne Marek • April 17, 2023

Visa remains cryptic about new surcharge cap

The card giant is set to impose a new surcharge cap of 3% tomorrow, but many payments processing professionals are still searching for details about it.

By Lynne Marek • April 14, 2023

SF tech worker charged in murder of Cash App founder

San Francisco police arrested an IT worker in the murder of Bob Lee, who was knifed to death in the early morning hours of April 4. Police declined to discuss a motive at a Thursday press conference.

By Gabrielle Saulsbery • April 13, 2023

Why card networks should embrace gun codes

Using the new merchant category code for gun and ammunition sales “could help identify dangerous patterns,” one advocacy group lawyer argues.

By Adam Skaggs • April 13, 2023

SBA to open flagship lending program to fintechs

A new rule, which takes effect May 11, ends a 40-year moratorium on admitting new nonbank lenders to the agency’s 7(a) loan program.

By Anna Hrushka • April 12, 2023

CFPB director wants some payments firms labeled systemically important

The bureau's chief, Rohit Chopra, urged users who maintain balances on their digital wallets and money-transfer apps to move that uninsured money to a bank account.

By Anna Hrushka • April 12, 2023

FTV Capital hunts payments prizes

Venture capital firms face challenges in picking payments and fintech investments amid the wreckage and waiting for the right prices.

By Caitlin Mullen • April 12, 2023

Visa forges new tie to PayPal

Visa will help connect PayPal and its Venmo unit via a new P2P tool that will also draw in other payments players, including DailyPay and Western Union.

By Lynne Marek • April 11, 2023