Visa's CEO braces for legislation

Visa CEO Al Kelly said Sen. Dick Durbin is contemplating new legislation that would impose more pricing restrictions on the card industry. Kelly didn't elaborate and Durbin has been mum.

By Lynne Marek • May 31, 2022

Cross-border payments change as they rise: report

Consumers and businesses are more frequently using digital means to send payments around the world, according to Mastercard's second annual report on cross-border payments.

By Tatiana Walk-Morris • May 31, 2022

Explore the Trendline➔

Cross-border payments targeted for upgrades

When it comes to cross-border payments, businesses, non-profits and governments alike are determined to increase the speed of transactions and cut the cost.

By Payments Dive staff

JPMorgan hires exec from PayPal to head fintech partnerships

Peggy Mangot joined the bank this month to lead a team responsible for designing and developing fintech partnership strategy at JPMorgan Chase's commercial bank.

By Anna Hrushka • May 27, 2022

CBDC, stablecoins, commercial bank money can coexist, Brainard says

The Federal Reserve vice chair, at a House Financial Services Committee hearing Thursday, also called for stricter regulation in the stablecoin space.

By Robin Bradley • May 27, 2022

Chip shortage drives up card costs

Russia's invasion of Ukraine is affecting card chip prices because Ukraine is home to two companies that produce half of the world’s neon supply, a key ingredient in chips.

By Jonathan Berr • May 26, 2022

Weave teams with Sunbit for healthcare BNPL

With Sunbit, Weave can now add BNPL to its other services that help small businesses collect customers’ payments, including text to pay, digital wallets, wireless terminals and credit-card on file.

By Joseph Burns • May 26, 2022

CFPB recasts innovation office to emphasize competition

The bureau walked back its no-action letter and sandbox policies in favor of "incubation events" meant to troubleshoot barriers to innovation and help customers switch providers more easily.

By Dan Ennis • May 26, 2022

CBDC poses threat to banks, trade groups tell Fed

A U.S. digital dollar would take $720 billion in deposits out of banks even if the central bank were to cap accounts at $5,000 per "end user," the American Bankers Association wrote in a letter.

By Robin Bradley • May 25, 2022

Lower-income app users seek savings options

Low- and moderate-income households in the U.S. say they want savings products in their digital payment apps, a survey by the nonprofit Commonwealth revealed.

By Caitlin Mullen • May 25, 2022

Big tech pushes passwordless for payments

Google, Microsoft and Apple this month began a big, new push in their campaign for a passwordless standard that's aimed at improving digital identity verification, including for payments.

By Lynne Marek • May 23, 2022

Fiserv shareholders approve severance curbs

A proposal to subject certain severance agreements to a shareholder vote — which the board was not in favor of — was approved during Fiserv’s annual meeting Wednesday.

By Caitlin Mullen • May 19, 2022

Block bets on bitcoin

“We are no longer just a payments company,” Block CEO Jack Dorsey said at the company’s investor day Wednesday.

By Caitlin Mullen • May 18, 2022

FIS knocks Fiserv out of No. 2 merchant acquirer spot

In a competitive field of merchant acquirers, FIS bested Fiserv last year as JPMorgan Chase held its lead, according to a ranking from The Nilson Report. 

By Caitlin Mullen • May 18, 2022

Affluent consumers may drive $257B in spending

The wealthiest U.S. consumers are eager to open their wallets again, especially for travel, though there is one possible caveat, predicts Visa's chief economist.

By Lynne Marek • May 17, 2022

Amex, Discover get top marks in direct banks survey

The No. 3 and No. 4 card companies, which also hold bank licenses, scored highly in customer satisfaction among online-only banks, J.D. Power found.

By Caitlin Mullen • May 16, 2022

Three US cash trends persist, Fed report says

The COVID-19 pandemic led U.S. consumers to change up their payment habits, but three long-term cash trends have mainly persisted, according to a Federal Reserve Bank report issued this month.

By Lynne Marek • May 16, 2022

Jack Henry prowls for acquisitions

The payment technology provider aims to start making acquisitions again this year, the CEO said. While potential targets had been too expensive in recent years, the public market's swoon is creating more options now.

By Lynne Marek • May 12, 2022

Yellen urges stricter stablecoin regulation amid TerraUSD crash

The coin, which relies on an algorithm rather than being backed by dollar reserves, plummeted to 23 cents Wednesday, according to CoinDesk.

By Robin Bradley • May 11, 2022

Mastercard CEO lands hefty raise

Compensation for Michael Miebach, who was the card company's chief product officer and president before he became CEO last year, climbed 75% to $16.1 million for 2021 after he took Mastercard's top post.

By Jonathan Berr • May 10, 2022

EMVCo invites input on new contactless standard

The firm controlled by the card companies has drafted a new contactless technology standard and it's seeking public comment on the specifications. Their plan is to implement a change by yearend.

By Lynne Marek • May 10, 2022

Cannabis payments companies focus on compliance, creativity

In the cannabis business, federal illegality has kept many banks and payments companies on the sidelines. That's opened the door for young companies that are using the ACH network to facilitate cannabis payments in states where it’s been legalized.

By Caitlin Mullen • May 6, 2022

Stripe-Plaid squabble erupts

When digital payments company Stripe launched a new service this week, it caught fintech Plaid, one of its customers and partners, by surprise, and not in a good way. Plaid's CEO expressed his displeasure in what has become a Twitter drama.

By Lynne Marek • May 6, 2022

Block 'just getting started' with Afterpay

San Francisco-based Block is focused on expanding buy now-pay later provider Afterpay’s customer base and managing its loss rate, Block executives said during Thursday’s first-quarter earnings call.

By Caitlin Mullen • May 6, 2022

DoorDash extends gas card rewards program

The program, which provides drivers 10% cash back on gas purchases on a prepaid Visa card, will now run through August.

By Alicia Kelso • May 5, 2022

Amex CEO snags $28.5M total compensation

Stephen Squeri, CEO of New York-based American Express, received $28.5 million in total compensation for 2021. The vast majority of that pay package came from annual and long-term incentive awards on top of a $1.5 million base salary.

By Caitlin Mullen • May 3, 2022