FedNow aims to avoid Zelle-type fraud

As the Federal Reserve prepares for a mid-year launch of its instant payments system, FedNow, it’s zeroing in on anti-fraud tools to protect users.

By Lynne Marek • Feb. 23, 2023

Same-day, B2B payments fuel ACH growth

Last year’s same-day ACH limit increase helped nearly double that category’s total payment compared to 2021, Nacha said.

By Tatiana Walk-Morris • Feb. 23, 2023

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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

Discover launches tech website

The card company joined the Linux Foundation and Fintech Open Source Foundation as part of a broader investment into its developer ecosphere.

By Matt Ashare • Feb. 23, 2023

Discover debit reboot gets marketing assist

The card company is betting its soon-to-be relaunched debit account services will help it better compete with fintech and neobank rivals.

By Caitlin Mullen • Feb. 22, 2023

Klarna touts US as largest market

The Swedish buy now, pay later provider aims to keep growing in the U.S. with new services despite the intense competition.

By Lynne Marek • Feb. 22, 2023

Discover to implement gun code in April: report

The newly published code will be part of Discover’s policy and product update for merchants and payment partners in April, a spokesperson told Reuters.

By Caitlin Mullen • Feb. 21, 2023

CFPB warns card issuers on credit reports

The Consumer Financial Protection Bureau has threatened action over card issuers not reporting full consumer payment data for tracking credit histories.

By Lynne Marek • Feb. 21, 2023

Credit card debt surpasses pre-pandemic levels: Fed

Despite a pause in payments required for federal student loans, younger borrowers particularly are showing higher credit card delinquencies.

By Tatiana Walk-Morris • Feb. 17, 2023

Paymentus hands interim CFO severance benefits

The company called the severance benefits’ approval a formality. But one expert said it is likely a retention strategy designed to encourage the interim CFO to “stick around.” 

By Maura Webber Sadovi • Feb. 16, 2023

Debit routing rule tables turned on regulators

Bank card issuers say there isn’t enough network competition to meet the July debit card routing rule deadline, adopting regulators’ argument to push back.

By Lynne Marek • Feb. 16, 2023

Branch draws Uber, others into fold

After landing Uber as a client, the worker payment services company has recently attracted other logistics and delivery clients with help from that big name.

By Caitlin Mullen • Feb. 16, 2023

Retailers oppose banks seeking more time on debit routing rule

Banks requested a delay in implementing a debit routing rule, but a retail and merchant trade group argued it’s high time the card issuers comply.

By Lynne Marek • Feb. 15, 2023

Credit metrics creep toward prepandemic levels

Delinquency rates for Discover, Synchrony and Bread all rose in January relative to December levels. 

By Caitlin Mullen • Feb. 15, 2023

Payments firms gear up for new ISO standard

The Clearing House and other payments players, including Swift, are readying for the March rollout of a international payments standard.

By Lynne Marek • Feb. 15, 2023

Back to the future with Worldpay

FIS CEO Stephanie Ferris and her Worldpay sidekick Charles Drucker, reclaiming a role at the business, will be under pressure to avoid “dis-synergies.”

By Lynne Marek • Feb. 14, 2023

Crypto regulation shouldn’t smother innovation: Fed’s Waller

The Fed governor highlighted the benefits of smart contracts, as well as the potential for tokenization as a privacy tool, in a speech Friday.

By Rajashree Chakravarty • Feb. 13, 2023

Gun merchant code to be published this month

Once it’s published, use of the new code “is eventually left up to the users in the industry,” an ISO spokesperson said.

By Caitlin Mullen • Feb. 13, 2023

FIS plans to spin off merchant unit

The payments processor plans to spin off its merchant business, which will reclaim its Worldpay name, and appointed its former CEO, Charles Drucker, to lead the unit.

By Lynne Marek • Feb. 13, 2023

Global Payments sells gaming unit for $415M

Like the company’s $1 billion sale of its Netspend consumer unit, the divestiture reflects efforts to refine its portfolio, said Global Payments CEO Jeff Sloan.

By Caitlin Mullen • Feb. 10, 2023

Fiserv’s new HQ approved for state tax credits

The company is set to receive up to $7 million from the Wisconsin Economic Development Corporation for its new Milwaukee headquarters.

By Caitlin Mullen • Feb. 10, 2023

PayPal CEO will retire at the end of 2023

Dan Schulman said he plans to exit then, but will be flexible in the timing. He called 2023 a potentially “transformational year” for the digital payments company.

By Lynne Marek • Feb. 9, 2023

Euronet lands HSBC as Dandelion client

Euronet attracted the United Kingdom bank HSBC as one of the first financial institution clients for its Dandelion cross-border payments service.

By Lynne Marek • Feb. 9, 2023

Ingenico aims to make acquirers more competitive

Ingenico is adding an in-store payments software service, and hinted that a large U.S.-based merchant acquirer will start using it soon.

By Caitlin Mullen • Feb. 9, 2023

Affirm cuts 500 employees

The buy now, pay later provider is eliminating jobs after its loss for the fourth quarter of last year ballooned over the same period in 2021.

By Lynne Marek • Feb. 9, 2023

New Visa CEO snags 27% salary increase

The new top executive, Ryan McInerney, and other executives at the card network company also received multi-million-dollar stock awards.

By Lynne Marek • Feb. 8, 2023