Banking: Page 9
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Lynne Marek/Payments Dive
Private sector merits ‘significant’ payments footprint, Waller says
The Federal Reserve must consider when to make up for private sector shortcomings in payments, while keeping its role limited, board member Christopher Waller said Tuesday.
By Tatiana Walk-Morris • Nov. 13, 2024 -
Nastasic via Getty Images
Young people fall prey to payments fraudsters
Debit and credit card users under 40 years old are more likely than older peers to experience fraud in making payments, a recent J.D. Power survey found.
By Patrick Cooley • Nov. 12, 2024 -
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TrendlineCross-border payments targeted for upgrades
When it comes to cross-border payments, businesses, non-profits and governments alike are determined to increase the speed of transactions and cut the cost.
By Payments Dive staff -
Courtesy of Shift4
Will Shift4 scoop up Lightspeed?
The acquisitive payments company could be a good fit with the Canadian point-of-sale technology provider, analysts said Monday.
By Lynne Marek • Nov. 11, 2024 -
Warchi via Getty Images
Q&AOpen banking to move toward FDX standard
Industry collaboration on open banking is likely to move forward, with or without the CFPB’s recent final 1033 rule, one Jack Henry executive said.
By Lynne Marek • Nov. 11, 2024 -
Techa Tungateja via Getty Images
Visa pinpoints rising fraud threats
In a new report, the card network detailed cyber schemes and scams that have led it to invest $11 billion over the past five years in improving its systems.
By Tatiana Walk-Morris • Nov. 10, 2024 -
Joe Raedle via Getty Images
Afterpay to arrive on 24M Cash App cards
The digital payment company’s leader, Jack Dorsey, aims to create lending services that will appeal to millions of U.S. adults who haven’t had access to other forms of credit.
By Patrick Cooley • Nov. 8, 2024 -
Niccolo Guasti via Getty Images
Remitly, Payoneer cross-border payments climb
Payments volume soared for the money transfer fintechs during the third quarter. Meanwhile, revenue at legacy rival Western Union slipped.
By Lynne Marek • Nov. 8, 2024 -
Chip Somodevilla via Getty Images
How Trump’s administration may rework payments policies
The president-elect and his new administration will have the opportunity to revamp federal government approaches for everything from earned wage access to digital currencies to open banking.
By Lynne Marek and Patrick Cooley • Nov. 7, 2024 -
Photo illustration: Shaun Lucas/Industry Dive; Getty Images; Paze
Paze gets new leader amid slow start
Early Warning Services, the bank-owned company that operates Paze, tapped a new leader last month for the digital wallet operation after slow progress in launching the new service.
By Patrick Cooley • Nov. 7, 2024 -
LD via Getty Images
FTC sues fintech Dave over marketing, fees
The Federal Trade Commission filed a complaint Tuesday alleging the fintech rarely disbursed the advertised loan amount and charged consumers a “tip” without giving them the ability to opt out of it.
By Rajashree Chakravarty • Nov. 7, 2024 -
Permission granted by Cross River Bank
Cross River drops lawsuit against Fiserv unit
The Fort Lee, New Jersey-based lender dismissed a lawsuit that it had filed against First Data Merchant Services last year.
By Rajashree Chakravarty • Nov. 7, 2024 -
Daniel Boczarski via Getty Images
Q&AFiserv exec opens up on Walmart, DoorDash partnerships
Sunil Sachdev, Fiserv’s head of embedded finance, shed light on his company’s latest high-profile collaborations.
By Patrick Cooley • Nov. 6, 2024 -
hapabapa via Getty Images
OpinionDOJ’s Visa suit is unfounded
The government acknowledges payment volumes are rising, in part because of fintech growth. This competition wouldn’t be happening if a single entity, like Visa, controlled the ecosystem.
By Aurelien Portuese • Nov. 5, 2024 -
Lynne Marek/Payments Dive
Fed aims to make instant payments the norm
“It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at a major industry conference.
By Lynne Marek and Patrick Cooley • Nov. 5, 2024 -
Courtesy of Mastercard
Mastercard gains edge in ancillary services
The card network is besting its larger rival Visa in the sale of cybersecurity and data services, at least according to one set of analysts who reviewed their recent results.
By Lynne Marek • Nov. 5, 2024 -
Bo Shen via Getty Images
DOJ’s Visa lawsuit could affect Capital One-Discover review
If the Justice Department were to block the Capital One-Discover deal while also going after Visa, “they’d be intellectually inconsistent,” a George Mason University law professor said.
By Caitlin Mullen • Nov. 5, 2024 -
unsplashed.com/Simon Kadula
Fiserv, Capital One, others invest $150M in Melio
Some of the corporate investors are also partnering with the accounts payable and receivable company they’re backing.
By Tatiana Walk-Morris • Nov. 4, 2024 -
Poike via Getty Images
OpinionIs the FTC targeting chargeback service providers?
“For better or for worse, applying pressure to payments organizations to ferret out bad-merchant actors seems to be an effective way for the FTC to make private industry police the merchant marketplace,” writes an industry lawyer.
By Edward A. Marshall • Nov. 1, 2024 -
Joe Raedle via Getty Images
5 payments predictions from research firm Forrester
Cash use worldwide will drop significantly next year, despite its U.S. persistence, the research firm Forrester predicts. Meanwhile, business-to-business acquisitions in the payments realm will pick up.
By Tatiana Walk-Morris and Lynne Marek • Nov. 1, 2024 -
David McNew via Getty Images
BofA discloses CFPB probe of Zelle payments
Bank of America is responding to a Consumer Financial Protection Bureau inquiry related to the bank’s processing of electronic payments through Zelle, the lender disclosed in a regulatory filing.
By Caitlin Mullen • Oct. 30, 2024 -
Justin Sullivan via Getty Images
Visa CEO stands fast against DOJ
Visa CEO Ryan McInerney took a defiant stance Tuesday regarding the Justice Department’s lawsuit against the card network company.
By Lynne Marek • Oct. 30, 2024 -
Permission granted by MoneyGram
MoneyGram cites cash-to-digital conversion opportunity
A MoneyGram executive speaking at the Money 20/20 conference cooed about the trillion-dollar opportunity to lure cash users to digital options, but didn’t mention the company’s recent systemwide outage.
By Lynne Marek and Patrick Cooley • Oct. 30, 2024 -
Caitlin Mullen/Payments Dive, data from Fiserv
Fiserv CEO dishes on making mergers work
In addition to pulling back the curtain on integrating Fiserv acquisitions, Frank Bisignano offered predictions on plastic cards and AI at a conference Monday.
By Patrick Cooley • Oct. 30, 2024 -
Retrieved from Lynne Marek on March 04, 2022
MoneyGram replaces CEO, naming former Walmart executive to the role
The money transfer company named the new CEO just weeks after a cyberattack led to a systemwide shutdown of its services for several days.
By Lynne Marek • Oct. 29, 2024 -
Justin Sullivan via Getty Images
How open banking will shape the future of payments
The Consumer Financial Protection Bureau released its final open banking rule this month, leading the payments and financial services industries to begin preparing for a new era in data-sharing.
By Patrick Cooley • Oct. 29, 2024
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