Regulations & Policy

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    FIS, Fiserv could benefit from credit legislation

    Legislation aimed at creating competition for card giants Visa and Mastercard could be a boon for payments companies FIS and Fiserv.

    By • Nov. 30, 2022
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    Justin Sullivan / Staff via Getty Images

    Banks discuss refund rule for customers defrauded on Zelle: report

    Under measures being discussed, banks would share liability inside Zelle’s system and guarantee to reimburse one another, sources told The Wall Street Journal.

    By Anna Hrushka • Nov. 28, 2022
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    Trendline

    Cross-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
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    Google Maps

    Fiserv adopts new executive severance policy

    The payments company’s board adopted the executive severance policy this week even though it opposed a similar shareholder proposal in May.

    By • Nov. 23, 2022
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    Spencer Platt via Getty Images

    JPMorgan’s crypto wallet trademark is approved

    The green light comes more than two years after the bank submitted paperwork to the U.S. Patent and Trademark Office, and is at odds with some statements by its CEO.

    By Dan Ennis • Nov. 22, 2022
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    B4LLS via Getty Images

    BNPL connected to overdraft charges, card fees: study

    Heavy users of buy now-pay later ― which researchers said inspires consumers to spend beyond their means — showed larger declines in financial health, a recent academic study determined.

    By • Nov. 22, 2022
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    Opinion

    Credit swipe-fee relief needed

    “Congress has a responsibility to bring much-needed transparency and competition” to credit card swipe fees, writes the chairman of the trade association for 7-Eleven franchisees.

    By Sukhi Sandhu • Nov. 18, 2022
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    Column

    Can Congress come together on crypto?

    Perhaps even a divided Congress can make bipartisan headway in crafting a regulatory framework for crypto following the FTX failure.

    By • Nov. 17, 2022
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    Courtesy of Mastercard

    Mastercard predicts Black Friday bonanza

    The card network company said in a report this week that it expects a Black Friday “shopping blitz” will lead retail sales to jump 15% over last year. 

    By • Nov. 16, 2022
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    Q&A

    CEOs Sound Off: Payments forecasts for 2023

    The CEOs of Brex, Splitit and Paystand weigh in on what’s to come in the year ahead, commenting on the trends, challenges, regulation and M&A.

    By , • Nov. 16, 2022
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    Permission granted by Discover

    Discover concludes student loan probe

    While the card company said it has finished its own investigation into its student loan servicing practices, it may still be subject to regulatory probes.

    By • Nov. 16, 2022
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    Alex Wong via Getty Images

    Nacha, Fed, Clearing House offer late night payments

    The Federal Reserve and The Clearing House have launched late night ACH payments, speeding up the processing of some payments.

    By Tatiana Walk-Morris • Nov. 16, 2022
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    Ilya S. Savenok / Stringer via Getty Images

    Fiserv ‘maniacally focused’ on expense management

    When asked Monday how Fiserv would adapt to an economic downturn, CEO Frank Bisignano said the company knows what levers to pull “to manage the expense line.”

    By • Nov. 15, 2022
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    Alex Wong via Getty Images

    FTX files for bankruptcy, CEO steps down

    FTX.com’s assets were frozen in the Bahamas, where the company is headquartered. Crypto lender BlockFi also paused withdrawals because of its exposure to FTX.

    By Gabrielle Saulsbery • Nov. 11, 2022
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    Maja Hitij via Getty Images

    Musk pushes Twitter toward payments

    “Give them some amount of money, like ten bucks or something, that they can send anywhere in the system,” said Twitter’s new owner, Elon Musk. “We need money transfer licenses for that, which we’ve applied for.”

    By Anna Hrushka • Nov. 11, 2022
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    Anna Hrushka/Payments Dive

    CBDC could accelerate cross-border payments: NY Fed

    Researchers designed a prototype digital currency that cleared cross-border transactions within 10 seconds, but they said the study doesn’t endorse a CBDC or assume the Fed will issue one.

    By Rajashree Chakravarty • Nov. 10, 2022
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    Opinion

    Preparing for the CBDC era

    Central bank digital currencies would allow for faster cross-border payments that would “help boost trade within the region and with the rest of the world,” an Equinix executive writes.

    By Lance Homer • Nov. 9, 2022
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    Tracker

    How active shooters pay for guns

    Payment methods used by active shooters to acquire guns are becoming part of the U.S. dialogue about such incidents. A new Payments Dive series tracking those details seeks to inform the discussion.

    By Payments Dive staff • Nov. 8, 2022
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    crbellette via Getty Images

    FedNow gives fee holiday in 2023

    Federal Reserve banks introducing the new instant payments system next year will jettison customer transfer and participation fees for the launch.

    By • Nov. 7, 2022
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    Scott Olson via Getty Images

    Warren urges CFPB crackdown on Zelle fraud

    Sen. Elizabeth Warren told the Consumer Financial Protection Bureau that it should amend Regulation E of the Electronic Fund Transfer Act “to increase consumer protection.”

    By Anna Hrushka • Oct. 31, 2022
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    Permission granted by Michelle Parke

    Papaya builds cross-border payroll services

    The well-funded startup is taking on big clients and rivals in seeking to offer cross-border payroll payment services, with checks sent to workers in 72 hours.

    By • Oct. 28, 2022
  • Consumer Financial Protection Bureau Director Rohit Chopra standing at a podium on stage.
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    Lynne Marek/Payments Dive

    CFPB aims to give ‘open banking’ rule teeth in 2024

    The bureau's chief, Rohit Chopra, laid out the timeline this week for a rule change meant to make it easier for consumers to break up with their banks.

    By Gabrielle Saulsbery • Oct. 26, 2022
  • Federal Reserve Governor Christopher Waller sits on a chair on stage.
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    Lynne Marek/Payments Dive

    FedNow will be a ‘public utility model,’ Waller says

    The central bank governor equated the nascent system with an interstate highway on which private companies will provide "on-ramps" and "off-ramps."

    By • Oct. 26, 2022
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    Lynne Marek/Payments Dive
    Column

    Fintechs party like it’s 2021 at Money 20/20

    Thousands of payments and fintech professionals at the Money 20/20 conference in Las Vegas this week are racing ahead with high-growth businesses, even as a drop-off in capital threatens to ruin the celebration.

    By • Oct. 25, 2022
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    HATICE GOCMEN via Getty Images

    CFPB seeks to jettison ‘junk data’ in credit reports

    Companies must have policies and procedures to detect and remove inconsistencies and “obvious impossibilities” in credit data, the CFPB said.

    By Anna Hrushka • Oct. 24, 2022
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    Ammo to launch its own online payments processing

    The Scottsdale, Arizona company said that bringing the payments aspect of transactions in-house, as opposed to using third parties, will allow it to reduce costs.

    By • Oct. 21, 2022