Fed seeks to dismiss or move retailers' North Dakota lawsuit

Retail associations' case against the Fed's setting of debit fee caps is resurfacing familiar arguments from a prior battle over the issue. 

By Lynne Marek • July 16, 2021

Trade group seeks Biden antitrust focus on payments

The Merchants Payments Coalition kept up its crusade to draw federal attention to what it calls "anti-competitive" swipe fees.

By Lynne Marek • July 13, 2021

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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

Bank of America catches up to competitors with crypto push

After a wave of rival banks spearheaded crypto earlier this year, BofA announced that it's put a research team on digital asset technologies.

By Dan Ennis • July 12, 2021

Colorado scraps ban on credit card surcharges

Colorado is the latest state to allow surcharges on credit card transactions, leaving only two with bans amid a nationwide move away from them.

By Lynne Marek • July 9, 2021

Clash over debit card routing persists in comments to Fed

A battle running for decades regarding the fees that card processors can charge on debit transactions is showing up again in comments regarding a Federal Reserve proposal to clarify rules on the issue.

By Lynne Marek • July 8, 2021

Binance.US hires ex-leader of California's 'mini-CFPB'

Manny Alvarez is joining Binance.US after leaving the California Department of Financial Protection and Innovation. He will oversee risk, compliance and legal developments at the company under Binance.US CEO Brian Brooks, who formerly led the Office of the Comptroller of the Currency.

By Dan Ennis • July 7, 2021

Fintech Karat Financial raises $26M to expand services

The company plans to move beyond credit cards and offer a suite of tools, including bank accounts and tax preparation services, for the creator economy.

By Anna Hrushka • July 6, 2021

Mastercard CEO, FDIC Chair call on fintech industry to press financial inclusion

In a post-pandemic world, financial institutions and companies are putting more effort into leveraging technological advances to bring more people into the financial system, while innovating to remove digital barriers.

By Lynne Marek , Vaidik Trivedi • June 30, 2021

U.S. digital currency could "pose considerable risks," Fed official says

Federal Reserve Board Governor Randal Quarles also said the benefits of developing a central bank digital currency are "unclear," given the "very good" U.S. payment system.

By Dan Ennis • June 29, 2021

Growing divide on crypto in international banking report

Central banks strike a second blow against digital assets and stablecoins. The dissonance between market and government may come down to timing, or an age-old pattern concerning risk.

By Dan Ennis • June 24, 2021

Payments industry deal-making mushrooms

The payments industry has accounted for the bulk of big fintech deals since the start of last year, charting eight combinations worth $23 billion, according to S&P Global Market Intelligence, which predicts the trend will march on.  

By Lynne Marek • June 22, 2021

American Express launches business checking accounts

The card network's subsidiary, Kabbage, initiated the checking account product last summer, before it was acquired by AmEx.

By Anna Hrushka • June 15, 2021

How payments became a magnet for money

The industry was beginning to attract record amounts of venture capital in recent years, but the pandemic's impact super-charged the trend. 

By Lynne Marek • June 15, 2021

Citi's new 5% cash-back card signals an industry rebound

The world's top card issuer rolled out its new card last week days after Wells Fargo launched a new product, showing the card industry is ready to rebound from a relatively muted 2020.

By Anna Hrushka • June 11, 2021

'Super-apps' are the next evolutionary step for financial services

As transactions are increasingly digitized, financial service providers are vying to create "super-apps" that connect consumers to a bevy of financial services.

By Vaidik Trivedi • June 7, 2021

Goldman Sachs taps Visa for cross-border payment upgrade

The global investment bank is aiming to streamline and enhance cross-border payments for its clients by signing on for Visa's cross-border programs.

By Lynne Marek • June 7, 2021

Mastercard invests in fledgling fintech Synctera

San Francisco-based Synctera, only six months old, draws $33 million from a pack of investors as it takes on the role of matchmaker between small banks and fintechs.

By Lynne Marek • June 3, 2021

Crypto exchange Kraken launches mobile app in US

Customers can buy and sell more than 50 crypto tokens from their mobile phones with a starting investment of as little as $10. The services are not available for residents of New York or Washington state.

By Dan Ennis • June 3, 2021

E-commerce fraud prevention startup Forter raises $300M

The recent funding round, which the company will use to expand its global ecosystem, brings the company's valuation to $3 billion.

By Tatiana Walk-Morris • May 27, 2021

Visa expands reach of fintech partnership program

The card network behemoth is doing its part to help banks connect with fintechs that it believes can help bring more business to all the companies moving money through the system.

By Lynne Marek • May 26, 2021

Wells Fargo to offer crypto investment product for wealthy clients

The bank's decision to wade into crypto follows similar moves made by other large institutions, and comes as the nation's top bank regulator has indicated it plans to review past crypto-friendly actions.

By Anna Hrushka • May 21, 2021

Federal Reserve to kick off conversation on CBDC

Federal Reserve Chairman Jerome Powell said yesterday that the Fed will issue a paper this summer to begin a public discussion about the possibility of a central bank digital currency.

By Lynne Marek • May 21, 2021

Major payments trade group weighs in on CBDC development

The Electronic Transactions Association is touting principles on interoperability, consumer protections and risk safeguards in Washington discussions about a central bank digital currency.

By Lynne Marek • May 20, 2021

Payments firms draw another $275 million in venture capital

DailyPay and Amount are the latest companies in the industry to attract investors' dollars.

By Lynne Marek • May 19, 2021

The Clearing House nudges businesses to buy into real-time system

The U.S. real-time payments system has invested $320 million in a real-time payments network, and now wants businesses to invest in their own systems to use it.

By Lynne Marek • May 14, 2021