Marqeta expands to Brazil

The corporate card issuer is entering South America by way of a new partnership with Fitbank, as part of broader international expansion ambitions.

By Lynne Marek • July 12, 2023

Bank of America fined $250M over fake accounts, junk fees

Regulators say Bank of America opened credit card accounts without customers’ consent and misled consumers about rewards for card applications.

By Anna Hrushka • July 11, 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

New Jersey legislature passes credit card surcharge bill

Lawmakers passed a bill that limits the surcharge a merchant can impose on consumers to the cost of processing a credit card transaction.

By Lynne Marek • July 11, 2023

Criminals stole $20M from Revolut via payment loophole: report

Differences in the firm’s U.S. and European systems meant the neobank would use its own money to erroneously refund certain declined payments, the Financial Times reported.

By Anna Hrushka • July 11, 2023

Missouri follows Nevada in enacting EWA law

The new legislation creates a requirement that earned wage access providers operating in Missouri must register with the state.

By James Pothen • July 11, 2023

Feds drill down on medical cards

With consumers increasingly tapping medical credit cards to pay for healthcare costs, the Biden administration is zeroing in on regulations to police such financial services.

By Lynne Marek • July 10, 2023

The FedNow® Service takes instant payments to a new level

The Federal Reserve in July is launching the FedNow Service, an instant-payment service that will help banks and other financial institutions better serve consumers and businesses.

July 10, 2023

Wise CFO nets larger pay than CEO

CFO Matt Briers took home higher compensation as he prepares to step down from the company. The money transfer service’s CEO also is leaving for a planned sabbatical in September.

By Grace Noto • July 7, 2023

Stripe cuts additional jobs

The digital payments services provider pared its workforce last week, following on more extensive cuts last year.

By James Pothen • July 7, 2023

As biometrics use advances, so must hacker defenses

“Hackers are using all sorts of sophisticated methods to trick and bypass biometric technology – like capturing audio clips of individuals’ voices, making fake fingerprints using putty and gelatin, and downloading photos and videos,” an executive writes.

By Alessandro Chiarini • July 7, 2023

FTC revs up money transfer case against Walmart

The Federal Trade Commission revved up its case against Walmart last week, alleging the retailer facilitated fraudulent transactions, despite a court ruling setback in March.

By Lynne Marek • July 6, 2023

Card issuers defend late fees

In responses to a group of U.S. senators, the top 10 credit card issuers outlined their late fee practices and warned of potential consequences if fees are capped as the CFPB has proposed.

By Caitlin Mullen • July 6, 2023

FIS to sell Worldpay stake to GTCR

Fidelity National Information Services will sell a 55% stake in Worldpay to the private equity firm GTCR for $11.7 billion, valuing the company at $17.5 billion. 

By Lynne Marek • July 6, 2023

Debit plagued by security concerns: survey

Just 40% of consumers feel confident in the security and safety of their debit cards, J.D. Power said.

By Caitlin Mullen • July 5, 2023

Goldman in talks to transfer Apple card deal to Amex: reports

The move, if true, would mark a 180-degree turn after Goldman and the tech giant extended their partnership until 2029 in October.

By Gabrielle Saulsbery • July 5, 2023

GTCR makes billion-dollar bid for Worldpay stake: report

Fidelity National Information Services had planned to spin off the merchant processing business Worldpay, but multiple news reports suggest control may be sold instead.

By Lynne Marek • July 5, 2023

NCR outlines ATM spin-off strategy

The separation of NCR’s ATM business and its digital commerce operations occurred in the fourth quarter of last year.

By Caitlin Mullen • June 30, 2023

Moody’s report spotlights FedNow downside

The soon-to-launch real-time payments system from the Federal Reserve may reduce interchange fee revenue for some payments players and increase IT costs for others.

By Lynne Marek • June 30, 2023

Visa to acquire Pismo for $1B

Visa said it has agreed to acquire the Brazilian company to provide more card issuing and banking services to fintechs and financial institutions.

By Lynne Marek • June 29, 2023

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

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