Mastercard profit rises on consumer spending

The company also credited cross-border travel, digital-first deals with banks and co-branding alliances for its performance during the quarter.

By Jonathan Berr • Oct. 28, 2022

Papaya builds cross-border payroll services

The well-funded startup is taking on big clients and rivals in seeking to offer cross-border payroll payment services, with checks sent to workers in 72 hours.

By Lynne Marek • Oct. 28, 2022

Explore the Trendline➔

Digital wallets proliferate as features advance

As more companies aim to offer digital wallets the rise in competition is sharpening their features.  

By Payments Dive staff

Shoppers turn to installment payments for holidays: report

Shoppers aim to stretch their budgets by trying installment payment plans and seeking discounts from retailers, according to a new report.

By Tatiana Walk Morris • Oct. 27, 2022

Fiserv sheds Korea unit, plans move to Milwaukee

After selling off three business units and taking other actions to “tighten spending” in the third quarter, Fiserv CFO Bob Hau expects cost improvement for the fourth quarter.

By Caitlin Mullen • Updated Oct. 28, 2022

Visa eyes 2023 growth, sidesteps threats for now

“Should there be a recession, or a geopolitical shock that impacts our business...we will, of course, adjust our spending plans,” Visa’s CFO said.

By Lynne Marek • Oct. 27, 2022

Ukraine raises fraud concerns, Stripe exec says

The war in Ukraine raised the stakes for payment fraud detection, as bad actors devise more complex ways of evading oversight.

By Suman Bhattacharyya • Oct. 26, 2022

Synchrony delivers mixed results

While the financial services company’s third-quarter income rose over the year-earlier period, net earnings sagged. Synchrony also increased credit loss provisions.

By Jonathan Berr • Oct. 26, 2022

CFPB aims to give ‘open banking’ rule teeth in 2024

The bureau's chief, Rohit Chopra, laid out the timeline this week for a rule change meant to make it easier for consumers to break up with their banks.

By Gabrielle Saulsbery • Oct. 26, 2022

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

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