Big bank, merchant groups weigh in on Fed rule clarification

Bank and merchant trade groups weighed in on the Fed's debit rule clarification at the 11th hour, digging in their heels in a long-time battle over whether to ease merchant access to increased debit transaction networks.

By Lynne Marek • Aug. 12, 2021

ZenBusiness launches money-management app

ZenBusiness positions itself as a one-stop shop for small business needs, but big tech rivals are also aggressively courting such micro-entrepreneurs.

By Suman Bhattacharyya • Aug. 10, 2021

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

Amazon strikes back at Visa fees with surcharge

Retail titan Amazon is taking on Visa by imposing a surcharge in one part of the world and leaving open the possibility of extending it elsewhere to fight what it calls "Visa's high cost of payments."

By Lynne Marek • Aug. 10, 2021

New fintech tools must address demographic gaps in usage

"While overall fintech usage is up across all demographics, there were gaps in the usage of certain types of tools," says Brian Gilmore, a director at the non-profit Commonwealth. There is "a rich opportunity for fintechs and financial services providers to better serve financially vulnerable consumers."

By Brian Gilmore • Aug. 9, 2021

Synctera partners with Mastercard, Marqeta

Synctera’s new partners will help community banks work with fintechs on new debit card-issuing programs.

By Wendy Cole • Aug. 6, 2021

Sable taps Wise for cross-border payments

Sable and Wise are teaming up on a new cross-border payments tool targeting expatriates and international students, among others. They're part of a pack of rivals trying to make moving money over borders faster and easier.

By Lynne Marek • Aug. 6, 2021

Inside MoneyLion's quest to become a financial 'super app'

The neobank is diversifying its revenue sources and aiming to boost engagement frequency as it faces regulatory concerns and a pack of rivals.

By Suman Bhattacharyya • Aug. 3, 2021

Square buys BNPL player Afterpay for $29B

The acquisition of the Australian buy now-pay later company is 12-year-old Square's biggest ever. With it, CEO Jack Dorsey aims to expand both Square's product suite and geographic reach.

By Lynne Marek • Aug. 2, 2021

U.S. payments volume rises on B2B, Healthcare

The national automated payments network led by Nacha logged another quarterly record, with the digital payment volume for the second quarter jumping nearly 10% and the value of those transactions soaring almost 25%.

By Lynne Marek • Aug. 2, 2021

SWIFT launches cross-border service aimed at low-value transactions

The new product lets small businesses and individuals send payments of less than $10,000 internationally, giving the network a potential foothold in a fintech-filled remittance space.

By Robin Bradley • July 30, 2021

Clearing House urges caution on CBDCs

A Federal Reserve-backed digital currency could "destabilize both the domestic and foreign banking and financial services sectors," the payments system operator said.

By Lynne Marek • July 30, 2021

Google Pay taps Marqeta for virtual card

The two big payments brands are teaming up to deliver a virtual card that expands Google Pay users' purchasing power.

By Lynne Marek • July 29, 2021

Alaska, Colorado residents carry most card debt, study says

In a ranking of states where residents have the biggest credit card balances, those two states' residents carry the largest debt loads while Wisconsin and South Dakota residents carry the lowest average balances, according to a WalletHub analysis.

By Lynne Marek • July 28, 2021

Details emerge from presidential panel on stablecoin

Tether and Diem were reportedly the focus of the meeting and last week's Treasury Dept. "act-quickly" directive. The Justice Department is also allegedly probing whether Tether executives hid transactions linked to cryptocurrency.

By Dan Ennis • July 28, 2021

Fiserv, Goldman strike pact on cross-border payments

Fiserv and Goldman Sachs have agreed to team up on offering cross-border payments in the first phase of a broader payments tie.  

By Lynne Marek • July 27, 2021

Mobile wallet use projected to surge

Mobile wallet use among North American consumers is growing, but not at the heady rates in other parts of the world, according to a new study that projects a worldwide surge.

By Wendy Cole • July 27, 2021

Payments M&A is hot, but deals could face antitrust scrutiny

The fintech industry faces “a wave of consolidation” for the remainder of 2021 and 2022, according to an industry report.

By Vaidik Trivedi • July 26, 2021

Card companies go green, but hurdles remain

Card issuers, networks and manufacturers are working to shrink their carbon footprint as consumers become more environmentally conscious and global carbon emissions climb.

By Vaidik Trivedi • July 22, 2021

Payveris launches P2P solution for banks and credit unions

Payveris contends that its P2P toolset is more cost-effective than that of its big, bank-backed rival Zelle, and less of a competitive concern for smaller institutions.

By Suman Bhattacharyya • July 20, 2021

Square launches business banking, savings products

Banking will allow Square to strengthen client relationships and drive higher customer lifetime value as it targets sellers who use the company's payment devices and inventory-management products, analysts said.

By Suman Bhattacharyya • July 20, 2021

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

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