Banking: Page 74
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Permission granted by Diem Association
Facebook-backed Diem shifts from Swiss to US jurisdiction
Diem Networks U.S. will register as a money services business with the Financial Crimes Enforcement Network, and Silvergate Bank will become the exclusive issuer of Diem's dollar-backed stablecoin.
By Anna Hrushka • May 13, 2021 -
Chip Somodevilla via Getty Images
Fed weighs debit transaction rule clarificationFed proposes review of debit transaction routing, but leaves fee alone
The Fed will review whether a rule requiring options in routing debit transactions is being followed, but angered merchants when it kept the cost basis for a national debit fee cap unchanged.
By Lynne Marek • May 13, 2021 -
Explore the Trendlineâž”
tommy via Getty Images
TrendlinePayments 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 -
Courtesy of Hannah Stern
Rho Technologies taps Mastercard for new corporate credit card
Rho Technologies is partnering with Mastercard to offer a corporate credit card after teaming with Visa on prior cards.
By Vaidik Trivedi • May 13, 2021 -
Permission granted by Remitly
Visa invests in Remitly, extends partnership
Credit card behemoth Visa bought an ownership stake in Remitly, a phone app company seeking to build a payments network for immigrants sending money to other countries.
By Lynne Marek • May 12, 2021 -
Justin Sullivan via Getty Images
Citi considers crypto services, but isn't rushing in
"This isn't a space race," Citi's head of global foreign exchange, Itay Tuchman, told the Financial Times. "There is room for more than just one flag."
By Dan Ennis • May 11, 2021 -
Dan Kitwood via Getty Images
FIS links with NYDIG to offer Bitcoin services
The second-largest U.S. merchant payments processor is turning to the fintech firm to help provide banks with account services for Bitcoin.
By Lynne Marek • May 6, 2021 -
Permission granted by SoFi
SoFi credit card to offer Bitcoin and Ethereum rewards
SoFi is the latest fintech to offer crypto-based credit cards after seeing an appetite for them in the market.
By Vaidik Trivedi • May 3, 2021 -
Fox Photos via Getty Images
As US consumers ditched credit cards, delinquency rates dropped
Consumers turned to debit cards and made payments on credit cards during the pandemic in a shift that meant fewer losses for banks, an S&P Global Market Intelligence report found.
By Lynne Marek • May 3, 2021 -
Permission granted by Varo Bank
Retail organizations sue Fed over debit law enforcement
Two North Dakota retail associations allege in a new federal lawsuit the Fed hasn't properly fulfilled its duty to determine "reasonable" debit card processing fees under a 2010 law.
By Lynne Marek • April 29, 2021 -
Courtesy of Visa
Visa taps cryptocurrency to ratchet up revenue
Visa executives this week detailed a litany of ways they're looking for cryptocurrencies to build the card network company's business, a striking shift from a year ago.
By Lynne Marek • April 29, 2021 -
Oli Scarff via Getty Images
Barclays US to offer merchants BNPL payments option
The bank had considered creating its own in-house BNPL system, but shifted gears and opted to work with tech firm Amount, said Barclays US CEO Denny Nealon.
By Anna Hrushka • April 27, 2021 -
Sean Gallup / Staff via Getty Images
IBM, Mastercard aid Saudi Arabia move toward cashless system
The U.S. companies' work for Saudi Arabia advanced the country's campaign to reduce cash transactions, even as some other countries refrain from efforts to do away with cash.
By Lynne Marek • April 22, 2021 -
Jack Taylor / Stringer via Getty Images
Crypto exchange Binance lands ex-OCC chief for US CEO post
Former Acting Comptroller Brian Brooks will become chief executive of Binance's U.S. operation on May 1.
By Dan Ennis • April 21, 2021 -
Courtesy of Coinbase
Coinbase stock gets $250 reference price, and slow trading start
Nasdaq gave the Crypto exchange's new stock a reference price ahead of the start of trading today which creates a valuation of about $65 billion before any shares traded hands.
By Lynne Marek • Updated April 14, 2021 -
PNC's 'low cash mode' gives users 24-hour overdraft buffer
The feature lets customers choose which payments will be processed if an overdraft is imminent. Tests of the product have helped users reduce insufficient-funds fees by more than 60%, the bank said.
By Anna Hrushka • April 14, 2021 -
Electronic payments surged for banks in 2020
The value and volume of digital payments accelerated last year, according to Nacha's annual report, as the pandemic shifted more business and consumer activity online.
By Lynne Marek • April 13, 2021 -
Courtesy of https://corporate.walmart.com/photos/walmart-store-exterior-at-night
Walmart's fintech startup may take aim at payments
The litany of services "Hazel by Walmart" may offer includes multiple payment services, including credit card and debit cards, as well as prepaid card payment processing and electronic funds transfer.
By Dan Ennis • April 9, 2021 -
Anna Hrushka/Payments Dive
Over 110 fintechs, banks flood into FedNow real-time payments pilot
The test case, a precursor to an expected 2023 debut, is "the Fed's effort to get into the instant payments space," said Anne Sharkey, senior vice president of operations at First Internet Bank.
By Anna Hrushka • April 7, 2021 -
Buy now, pay later moves into professional services
The rise in popularity of BNPL isn't just a fad, but will stick around even after the pandemic subsides, Brandon Rembe, chief product officer at Envestnet-Yodlee, said.
By Vaidik Trivedi • April 6, 2021 -
Deep Dive
6 Payments trends for 2021
The pandemic accelerated emerging payments trends, as "both the merchant and customer side picked up pace to evolve with changing market conditions," Forrester analyst Lily Varon said.
By Vaidik Trivedi • April 5, 2021 -
Mastercard partners with fintech companies to fend off tech upstarts
Established payments companies are increasingly turning to technology partners to offer services that help them compete.
By Lynne Marek • March 31, 2021 -
Visa expands payments network via Earthport acquisition
The company known for its credit and debit cards is building up its network to let payments happen without touching a card.
By Lynne Marek • March 30, 2021 -
Courtesy of Visa
Visa rolls out stablecoin pilot program with partner Crypto.com
Visa is diving into digital assets with a new credit card program that will settle partly with a stablecoin using the cryptocurrency Ethereum.
By Lynne Marek • March 29, 2021 -
Retrieved from ILGA.gov on March 25, 2021
Illinois digital asset charter bill falls short in spring session, persists for next round
The bill creating a special charter for digital asset trusts passed the House before adjournment last month, but still requires approval from the full Senate to become law.
By Lynne Marek • Updated June 7, 2021 -
MicroStrategy CEO: Treasurers should buy Bitcoin as cash alternative to hedge inflation
Record stimulus is likely to stoke inflation, making Bitcoin an attractive backstop for corporate treasurers, according to Michael Saylor, who leads the business intelligence software company.
By Jim Tyson • March 24, 2021
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