FIS may cut thousands of workers, Bloomberg reports

The news report on workforce reductions at the payments processor follows its announcement earlier this month that it would embark on a $500 million cost-cutting program.

By Lynne Marek • Nov. 22, 2022

Demand for credit cards climbed this year

Consumer demand for credit cards rose this year over prior years, and card issuers increasingly approved their applications despite the worsening economic climate.

By Lynne Marek • Nov. 22, 2022

Explore the Trendline➔

Stablecoins enter the payments universe

Stablecoins are gaining ground thanks to passage of the Genius Act, forcing companies to consider competitive strategies in the digital realm.

By Payments Dive staff

PayZen raises $20M, lands debt facility

The fintech aims to extend buy now-pay later financing options to consumers for healthcare payments.

By Tatiana Walk-Morris • Nov. 21, 2022

Holiday shoppers boost card use this year

Families of all income levels plan to increase holiday spending this year, and they expect to rely more heavily on credit cards for their purchases.

By Tatiana Walk-Morris • Nov. 21, 2022

Visa’s next CEO sees a world of growth

Ryan McInerney, who will become CEO of the card network juggernaut next year, recently detailed the areas where he sees opportunities for the company.

By Lynne Marek • Nov. 21, 2022

World Cup offers stage for payments tech

While one card network giant has grabbed center stage at the World Cup event in Qatar, other payments companies have landed bit roles too.

By Tatiana Walk-Morris • Nov. 21, 2022

Visa names new CEO for next year

Visa President Ryan McInerney will become the card network company’s next CEO next February as Al Kelly exits that role to become executive chairman.

By Lynne Marek • Nov. 18, 2022

Card debt mounts for younger, less affluent borrowers

Debt burdens and delinquencies are rising more rapidly for younger and less wealthy borrowers, the New York Federal Reserve Bank researchers said.

By Caitlin Mullen • Nov. 18, 2022

Construction payments firm Billd lands $100M credit line

The debt facility will feed two of the company’s app-based cash flow products.

By Matthew Thibault • Nov. 18, 2022

Can Congress come together on crypto?

Perhaps even a divided Congress can make bipartisan headway in crafting a regulatory framework for crypto following the FTX failure.

By Lynne Marek • Nov. 17, 2022

NY Fed launches CBDC project with Mastercard, big banks

Mastercard and big banks such as Citi, Wells Fargo, BNY Mellon and U.S. Bank are set to participate in the proof-of-concept trial.

By Rajashree Chakravarty • Nov. 16, 2022

Mastercard predicts Black Friday bonanza

The card network company said in a report this week that it expects a Black Friday “shopping blitz” will lead retail sales to jump 15% over last year. 

By Jonathan Berr • Nov. 16, 2022

CEOs Sound Off: Payments forecasts for 2023

The CEOs of Brex, Splitit and Paystand weigh in on what’s to come in the year ahead, commenting on the trends, challenges, regulation and M&A.

By Caitlin Mullen , Lynne Marek • Nov. 16, 2022

Discover concludes student loan probe

While the card company said it has finished its own investigation into its student loan servicing practices, it may still be subject to regulatory probes.

By Caitlin Mullen • Nov. 16, 2022

Nacha, Fed, Clearing House offer late night payments

The Federal Reserve and The Clearing House have launched late night ACH payments, speeding up the processing of some payments.

By Tatiana Walk-Morris • Nov. 16, 2022

Fiserv ‘maniacally focused’ on expense management

When asked Monday how Fiserv would adapt to an economic downturn, CEO Frank Bisignano said the company knows what levers to pull “to manage the expense line.”

By Caitlin Mullen • Nov. 15, 2022

Wex readies for acquisitions

Acquisitions are part of Wex CEO Melissa Smith’s annual growth goals, and the deteriorating economy could present attractive targets, she said.

By Lynne Marek • Nov. 11, 2022

FTX files for bankruptcy, CEO steps down

FTX.com’s assets were frozen in the Bahamas, where the company is headquartered. Crypto lender BlockFi also paused withdrawals because of its exposure to FTX.

By Gabrielle Saulsbery • Nov. 11, 2022

Musk pushes Twitter toward payments

“Give them some amount of money, like ten bucks or something, that they can send anywhere in the system,” said Twitter’s new owner, Elon Musk. “We need money transfer licenses for that, which we’ve applied for.”

By Anna Hrushka • Nov. 11, 2022

Green Dot CEO taps new team

The payment services company’s recently appointed CEO brought on his own team this week, naming a new CFO, COO and chief revenue officer.

By Lynne Marek • Nov. 11, 2022

CBDC could accelerate cross-border payments: NY Fed

Researchers designed a prototype digital currency that cleared cross-border transactions within 10 seconds, but they said the study doesn’t endorse a CBDC or assume the Fed will issue one.

By Rajashree Chakravarty • Nov. 10, 2022

Marqeta lands new client, faces questions on Block

While the company said this week that it won new business from a fintech backed by Walmart, it also faced questions over contract renewals for its biggest customer, Block. 

By Lynne Marek • Nov. 10, 2022

Jack Henry & Associates bucks slowdown trend

Executives for the tech services provider asserted that their pipeline of new business remains healthy despite economic headwinds beating up the rest of the industry.

By Caitlin Mullen • Nov. 9, 2022

Preparing for the CBDC era

Central bank digital currencies would allow for faster cross-border payments that would “help boost trade within the region and with the rest of the world,” an Equinix executive writes.

By Lance Homer • Nov. 9, 2022

Affirm curbs hiring amid economic uncertainty

The buy now-pay later company is pulling back on adding talent in some areas, but plunging ahead in others and seeking out talent in lower-cost regions.

By Jonathan Berr • Nov. 9, 2022