FedNow will be a ‘public utility model,’ Waller says

The central bank governor equated the nascent system with an interstate highway on which private companies will provide "on-ramps" and "off-ramps."

By Lynne Marek • Oct. 26, 2022

Discover tightens underwriting

Count the card company among those that added to credit loss provisions in the third quarter as economic conditions soured.

By Caitlin Mullen • Oct. 26, 2022

Explore the Trendline➔

Top 5 stories from Payments Dive

The digital evolution of payments is roiling the industry, forcing companies to rethink pricing schemes and revamp corporate strategies. Embedded payments, earned wage access, real-time systems and other innovations will transform the business.

By Payments Dive staff

Fintechs party like it’s 2021 at Money 20/20

Thousands of payments and fintech professionals at the Money 20/20 conference in Las Vegas this week are racing ahead with high-growth businesses, even as a drop-off in capital threatens to ruin the celebration.

By Lynne Marek • Oct. 25, 2022

Marqeta makes banking push

The company's suite of seven banking products includes early wage access, as well as bill pay and instant funding. The latter two will be available in beta next year.

By Gabrielle Saulsbery • Oct. 25, 2022

CFPB seeks to jettison ‘junk data’ in credit reports

Companies must have policies and procedures to detect and remove inconsistencies and “obvious impossibilities” in credit data, the CFPB said.

By Anna Hrushka • Oct. 24, 2022

BNPL for business is a high stakes proposition

“As BNPL providers, especially in the business realm where more money is being spent, fintechs are going to need much more sophisticated, secure, reliable authentication methods,” writes Flexbase CEO Zaid Rahman.

By Zaid Rahman • Oct. 24, 2022

Fiserv sells SIS unit, Costa Rica operations

The major payments processor agreed to sell an IT business unit and a Costa Rica division to Infinite Computer Solutions. They also entered a multiyear pact for the buyer to keep providing services.

By Caitlin Mullen • Oct. 21, 2022

Amex adds to loss provisions

As consumers grapple with inflation, the card company reported this week that delinquencies have ticked up and that it’s boosting its loss provisions.

By Caitlin Mullen • Oct. 21, 2022

JPMorgan doubles down on gaming firm tie

The bank said it invested in the regulated gaming company Sightline Payments this week, following an agreement earlier this year to be the firm’s primary merchant acquirer.

By Lynne Marek • Oct. 21, 2022

Earnings preview: Payments companies confront 3Q challenges

Macroeconomic headwinds, consumer health and cost management are set to be topics of conversation during payments companies' quarterly earnings calls.

By Caitlin Mullen • Oct. 20, 2022

PayPal user policy sparks Republican ire

Congressional Republicans this week demanded more details from PayPal over a proposed user policy that threatened to take users to task over “misinformation.”

By Lynne Marek • Oct. 20, 2022

CFPB sues Global Payments unit

The Consumer Financial Protection Bureau sued Active Network, a unit of Global Payments, saying the company used “dark patterns” to unlawfully extract $300 million from consumers.

By Lynne Marek • Oct. 19, 2022

FedNow may stumble without nonbanks, cross-border payments

“In addition to cross-border payments, the benefits of FedNow must be widely available to Americans through competitive, diverse providers — including nonbanks,” writes a U.S.-based Wise executive.

By Rina Wulfing • Oct. 18, 2022

Analysts on lookout for Fiserv job cut costs

With the company set to report third-quarter results next week, ongoing employee cuts have put severance expense under the microscope.

By Caitlin Mullen • Oct. 18, 2022

Green Dot fires CEO, postpones event

The company terminated Dan Henry as its CEO on Friday, and postponed an investor event, even as its earnings guidance remained steady.

By Anna Hrushka • Oct. 17, 2022

Fed’s Waller expresses skepticism on CBDC

Launching a digital currency could introduce costs and risks posing harm to the U.S. dollar's standing internationally, Waller said. The dollar’s primacy, he added, has little to do with technology.

By Gabrielle Saulsbery • Oct. 17, 2022

Fintechs clamor for FedNow access

Nonbank fintechs are pushing for access to the new federal faster payments system as its launch date next year approaches.

By Lynne Marek • Oct. 17, 2022

Apple to launch high-yield savings account with Goldman Sachs

The move is the logical next step for the Apple-Goldman partnership, according to one consultant, who said the day-to-day banking product complements Apple’s Goldman-powered credit card offering.

By Anna Hrushka • Oct. 17, 2022

Warren roasts Wells Fargo’s ‘severely bad performance’ on Zelle fraud

Four of the seven banks that own Zelle reported data to the senator, but she focused her attention on Wells CEO Charlie Scharf in a letter Thursday.

By Gabrielle Saulsbery • Oct. 14, 2022

Visa seeks to draw creators in

The card behemoth is partnering with other fintechs in an effort to sell creators embedded payment and financial tools.

By Lynne Marek • Oct. 14, 2022

Stripe CEO praises European regulation over US

Patrick Collison, who founded the company with his brother, gave an edge to the European Union in creating a regulatory regime where fintechs are thriving.

By Lynne Marek • Oct. 13, 2022

Reduce cyber risk as digital bill payment options expand

“Not all payment platform companies are managing operational and security as judiciously as they could, and that will eventually result in costly payment failures, customer friction, or potentially a breach,” writes PayNearMe Vice President Tim Murphy.

By Tim Murphy • Oct. 13, 2022

4 takeaways from Michael Barr’s DC Fintech Week speech

The Federal Reserve’s vice chair for supervision stressed caution for banks’ ties to crypto and spotlighted how stablecoins differ from other digital assets.

By Dan Ennis • Oct. 13, 2022

Nearly half of Gen Z, millennials to tap BNPL for holiday shopping

That buy now-pay later outlook emerged from a new Bluedot survey that also showed 43% of consumers are likely to open a new store credit card during the yearend shopping period. 

By Tatiana Walk-Morris • Oct. 12, 2022

Durbin credit card amendment hits speed bump

U.S. Sen. Dick Durbin wasn’t able to attach the Credit Card Competition Act proposal to a defense funding bill this week, but he will try again next month.

By Lynne Marek • Oct. 12, 2022