Payment companies mainly skirt Russia-Ukraine impact

Payments industry executives likely aren't worrying too much about Russia's invasion of Ukraine, based on the amount of revenue coming from the region, at least not yet.

By Jonathan Berr • Feb. 25, 2022

FlexWage wins favorable California ruling

The on-demand pay company secured a statement from a California regulatory agency that said it doesn't need to hold two state licenses that are required for some companies providing financial services in the state.

By Lynne Marek • Feb. 24, 2022

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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

Washington policymakers spout off on CBDC

With rising individual and institutional interest in digital assets, policymakers in Washington are cranking up their public discussion of the possibility of a digital dollar. Federal Reserve Gov. Lael Brainard weighed in last week and the Congressional Research Service did earlier this month.

By Lynne Marek • Feb. 22, 2022

Klarna puts BNPL on a card

After a U.K. rollout last month, the Swedish buy now-pay later firm is bringing its physical Visa card to the U.S. – but not before making prospective cardholders wait.

By Caitlin Mullen • Feb. 17, 2022

Payments, crypto executives do C-suite shuffle

Another wave of payments and crypto executives are making a move as the demand for C-suite talent rises in a realm that's experiencing significant expansion and intense competition.

By Lynne Marek • Feb. 17, 2022

Decline of cash spotlights swipe fees

"At a time when the economy is still building back from the pandemic, these rising fees desperately need to be brought under control, and the rapid move toward an all-electronic economy with little cash makes the need to do so all the more urgent," writes National Retail Federation Vice President Leon Buck.

By Leon Buck • Feb. 16, 2022

SIM swap schemes threaten mobile payments

The FBI says SIM card swap fraud, where cybercrooks snatch sensitive data from mobile phones, is on the rise. The Federal Communications Commission is trying to do something about it, but it's not an easy crime to stop.

By Mercedes Cardona • Feb. 15, 2022

Payments confronts fundraising slowdown

“There was a lot of exuberance around valuations of young, fast-growing payments companies, and that exuberance hasn’t gone away completely, but it’s begun to wane,” said Zach Sadek, partner with Parthenon Capital, a private equity firm in Boston.

By Caitlin Mullen • Feb. 14, 2022

Jack Henry embarks on modern technology strategy

Jack Henry & Associates CEO David Foss called the new strategy the company’s biggest technology update in 20 years during an earnings webcast Wednesday. He said it will let Jack Henry bank and credit union clients adjust to offerings from fintechs and consumers' banking behavior changes.

By Lynne Marek • Feb. 10, 2022

Mastercard teams with fintechs on small business card

Mastercard is teaming up with two San Francisco fintechs, Highnote and Flowcast, to create a new credit card for small businesses. They're jumping into a field where high-growth fintechs like Brex and Ramp are already gaining traction.

By Caitlin Mullen • Feb. 9, 2022

Fiserv touts $650M acquisition of Finxact

Payments giant Fiserv announced Monday it’s buying the ownership stake in Jacksonville, Florida-based Finxact that it doesn't already own for $650 million; the acquisition follows previous investments in the core banking software company.

By Caitlin Mullen • Updated Feb. 8, 2022

ATM firm PAI acquires TouchPoint 21

Payment Alliance International CEO David Dove said the acquisition expands his company's service model, adding TouchPoint 21's ATM and Interactive Teller Machine (ITM) terminals and its in-house servicing and armored staff.

By Caitlin Mullen • Feb. 7, 2022

Nacha payments value jumped to $72.6 trillion last year

Electronic payments racing through the Nacha network increased for the seventh consecutive year in 2021, with the value of the payments jumping 17.4% and the volume rising 8.7% over 2020, the organization said.

By Lynne Marek • Feb. 4, 2022

Boston Fed, MIT publish first phase of CBDC research

Researchers released the code for the project on GitHub to allow outside developers to help enhance it. Phase 2 may explore cybersecurity concerns such as the balance between user privacy and transparency.

By Dan Ennis • Feb. 4, 2022

Fintech Amount buys Linear for $175M

Chicago-based banking technology provider Amount announced Tuesday that it has acquired Reston, Virginia-based Linear Financial Technologies, a small and mid-size business loan and account origination platform.

By Caitlin Mullen • Feb. 2, 2022

Fintechs won't replace traditional banking

"The biggest battle traditional banks face is customer satisfaction," says Galileo Financial Technologies Chief Revenue Officer Seth McGuire. "Digital-only and standalone digital options have sky-high satisfaction scores."

By Seth McGuire • Jan. 28, 2022

Walmart buys into 'super app' services

The retailer's fintech startup said it will buy earned wage access facilitator Even and digital financial services company One Finance to help Walmart sell consumers a financial services "super app."

By Lynne Marek • Jan. 27, 2022

JPMorgan buys 49% stake in Greek payments company

As the largest U.S. bank keeps up an acquisition spree begun last year, it agreed Tuesday to acquire a 49% stake in the Greek fintech Viva Wallets.

By Dan Ennis • Jan. 25, 2022

CEOs Sound Off: Fintechs press for open banking mandates

In 2022, CEOs whose companies touch payments are eager for regulators to move toward increased open banking in the U.S., to allow a framework for more sharing of consumer data. They believe it will drive innovation and enhanced financial services.

By Lynne Marek • Jan. 24, 2022

Discover spends big to attract new cardholders

The card company’s marketing spend in the fourth quarter was up 70% over the same period last year, as it campaigned to attract new account holders.

By Caitlin Mullen • Jan. 20, 2022

Fed's long-awaited CBDC report arrives

"While the existing U.S. payment system is generally effective and efficient, certain challenges remain," the Fed paper says. "A significant number of Americans currently lack access to digital banking and payment services."

By Jonathan Berr • Jan. 20, 2022

Payments pros demand top dollar in talent war

It’s become a “candidates’ market” with companies desperate to hire or retain payments executives and offering up to 30% premiums to lure professionals in short supply.

By Lynne Marek • Jan. 20, 2022

Mastercard links with Instacart on new card

Mastercard has lined up two new partnerships this week, bringing its card benefits to the grocery store aisle as well as the NFT marketplace.

By Lynne Marek • Jan. 19, 2022

Settlement in Amazon-Visa dispute may be near

Amazon backed off a threat to stop taking Visa credit cards in the U.K. this week, as the two companies issued statements suggesting they'll avoid a pitched battle over "swipe" fees.

By Jonathan Berr • Jan. 18, 2022

Powell says Fed paper on CBDC is weeks away

The oft-delayed digital currency white paper is coming "within weeks," Powell said Tuesday, but is "an exercise in asking questions and seeking input ... rather than taking a lot of positions."

By Dan Ennis • Jan. 13, 2022