EWS launches wallet in South Carolina, Arizona ahead of wider rollout

Launching the Paze wallet will require preloading about 150 million cards, meaning the launch will occur as “more of a ramp up over a few months,” EWS Managing Director James Anderson said.

By James Pothen • Feb. 26, 2024

Congress members lob dueling gun code bills

Democratic and Republican Congress members took opposing stances this month in introducing bills on the use of a new gun merchant category code.

By Caitlin Mullen • Feb. 26, 2024

Explore the Trendline➔

Real-time payments are on the rise

As the U.S. makes a move to encourage use of real-time payments, it’s following other nations in adopting the real-time advance.

By Payments Dive staff

Capital One-Discover deal carries $1.38B termination fee

The fee would apply if Discover chooses another buyer or if either board has a change of heart, but not if regulators block the deal.

By Dan Ennis • Feb. 23, 2024

Google Pay app to be retired in US this year

“To simplify the app experience, the U.S. version of the standalone Google Pay app will no longer be available,” the tech giant said in a Thursday blog post.

By James Pothen • Feb. 23, 2024

PayPal finance exec jumps to Flywire CFO seat

Cosmin Pitigoi’s appointment comes six months after Flywire announced its long-time finance chief would be exiting.

By Maura Webber Sadovi • Feb. 23, 2024

Cash-strapped consumers turn to BNPL: Fed survey

Consumers facing financial hardships turned to buy now, pay later services more last year than stable consumers, according to survey results from the Philadelphia Federal Reserve Bank. 

By Tatiana Walk-Morris • Feb. 23, 2024

CFPB may take legal action against Block

The bureau has informed the digital payment company it’s weighing legal action related to a Cash App probe.

By Caitlin Mullen • Feb. 23, 2024

OCC’s Hsu calls for federal payments licensing

The head of the OCC called on Congress to replace the current state-by-state money transmitter licensing system for payments companies with a federal regulatory framework.

By James Pothen • Feb. 22, 2024

Mastercard to be dinged by Discover deal

While both Mastercard and Visa will be impacted by Discover Financial Services’ plan to be acquired by card issuer Capital One, the former is likely to bear the brunt of the blow.

By Lynne Marek • Feb. 21, 2024

Capital One-Discover deal may spark antitrust concern

While the $35 billion acquisition is expected to prompt antitrust concerns related to consumer card lending, regulators may see competition benefits in the card network arena.

By Caitlin Mullen • Feb. 21, 2024

Amex to expand ATM cash access

The card issuer has partnered with ATM operator NCR Atleos to provide cash access for its checking account clients at 40,000 more machines.

By James Pothen • Feb. 20, 2024

Cross-border payments remain focus for Fed

Tools that “automate processes, reduce costs and promote effective safeguards across jurisdictions” may help improve cross-border payments, a Federal Reserve official said last week.

By Lynne Marek • Feb. 20, 2024

PayPal invests in AI startup Rasa

The investment is the first that the digital payments pioneer is making from its new artificial intelligence venture fund.

By Tatiana Walk-Morris • Feb. 20, 2024

Capital One to acquire Discover in $35.3B deal

The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.

By Dan Ennis • Feb. 20, 2024

Same-day payments drive ACH increase: Nacha

Peer-to-peer transactions also contributed to a 4.8% increase in payments volume for the ACH Network last year over 2022.

By Tatiana Walk-Morris • Feb. 15, 2024

Global Payments may pare operations

While there has been industry speculation about the company making an acquisition, CEO Cameron Bready was more ready to talk “pruning” this week.

By Lynne Marek • Feb. 15, 2024

BNPL popularity rises among ‘financially fragile’ consumers

About 60% of that group has used BNPL five or more times in the past year, compared to just over 20% of financially stable consumers, the New York Fed said.

By Caitlin Mullen • Feb. 15, 2024

Senator calls card CEOs on congressional carpet

Sen. Dick Durbin, sponsor of a card network competition bill, urged the CEOs of Visa and Mastercard to appear at an April congressional hearing and not send their underlings.

By Lynne Marek • Feb. 14, 2024

Adyen eyes growth in North America

Davi Strazza, North America president at Adyen, pointed to the Dutch processor’s single technology platform as setting it apart in a crowded field of payments players.

By Caitlin Mullen • Feb. 14, 2024

Amex gears up for bigger bank category

Given its asset growth, the card issuer anticipates facing more stringent regulatory requirements and more frequent stress tests.

By Caitlin Mullen • Feb. 13, 2024

Yellen asks Congress for stablecoin legislation

Treasury Secretary Janet Yellen renewed a call for Congress to act on digital assets, saying “there is no appropriate regulatory framework.”

By James Pothen • Feb. 13, 2024

PayPal’s Rabinovitch takes Worldpay CFO seat

Worldpay will lean on PayPal alum Gabrielle Rabinovitch’s finance chops to help it navigate life as an independent company after a recent rocky history for the business.

By Grace Noto • Feb. 13, 2024

More than half of P2P fraud victims lose money: AARP

“When it comes to addressing instances of financial exploitation, consumers are less likely to trust P2P platforms than banks and credit unions,” an AARP survey reported.

By Tatiana Walk-Morris • Feb. 12, 2024

Bill Holdings, Bank of America revamp contract

The provider of bill-pay software services was expecting to extend its services to more of the bank's clients, but now the bank is changing its plans.

By Lynne Marek • Feb. 12, 2024

Western Union, Euronet lean into digital growth

The cross-border payments companies are increasingly turning to digital services to drive growth in a market that is “a bare-knuckle street fight every single day.”

By Lynne Marek • Feb. 9, 2024