DoorDash extends gas card rewards program

The program, which provides drivers 10% cash back on gas purchases on a prepaid Visa card, will now run through August.

By Alicia Kelso • May 5, 2022

Durbin proposes card fee reforms, not legislation

Sen. Dick Durbin pushed for a handful of reforms of credit card fee practices at Wednesday's Senate Judiciary Committee hearing on "excessive swipe fees," but didn't offer plans for new legislation. He also questioned Visa and Mastercard representatives about recent fee increases and took testimony from consumer advocates who slammed the hikes.

By Lynne Marek • May 5, 2022

Explore the 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

Fiserv, Affirm partner on BNPL

Brookfield, Wisconsin-based Fiserv is adding a new buy now-pay later player to its roster. The company said Wednesday that San Francisco-based Affirm will be the first BNPL option integrated into its Carat service, which is directed at larger enterprises.

By Caitlin Mullen • May 5, 2022

Kohl's boosts reward benefits for card members

The Menomonee Falls, Wisconsin-based retail chain tested the program in eight markets over the past year and found an increase in Kohl's Card acquisitions and overall sales. 

By Kaarin Moore • May 2, 2022

Card companies called on congressional carpet

Visa and Mastercard will be in the hot seat next week at a hearing of the Senate Judiciary Committee led by their long-time nemesis, Sen. Dick Durbin. A notice for the hearing teases that the discussion will zero in on "excessive swipe fees" and a lack of competition in the industry.

By Lynne Marek • April 29, 2022

For Discover, inflation brings sales growth, salary pressure

Riverwoods, Illinois-based Discover Financial Services on Thursday reported first-quarter card sales volume was 23% higher than the same period last year, but CFO John Greene said "it’s hard to envision year-over-year sales growth to continue in the upper 20s."

By Caitlin Mullen • April 29, 2022

PayPal cuts back growth plans, again

The digital payments pioneer reduced its revenue growth targets for the second time this year when it reported first-quarter earnings Wednesday. CEO Dan Schulman took responsibility for not delivering, blaming macroeconomic factors affecting the company. 

By Lynne Marek • April 28, 2022

Clover revenue growth boosts Fiserv earnings

During a Wednesday presentation on first quarter earnings, Brookfield, Wisconsin-based payments company Fiserv said global revenue for its Clover operating system for small and medium-sized businesses grew 39%.

By Caitlin Mullen • April 28, 2022

Checkout startup Bolt sued by fashion brand group

Checkout startup Bolt Financial is being sued by Authentic Brands Group, which owns the rights to a pack of brands from Forever 21 to Nautica to Spyder. ABG alleges Bolt's software services led to technology failures and lost sales, but Bolt denies the claims.

By Caitlin Mullen • April 27, 2022

Visa earnings rise on cross-border revival despite Russia impact

Extraordinary international events have both buffeted and benefited the card giant's business this year. Visa said a recovery of travel and cross-border transactions boosted its earnings through March, despite a negative impact from shutting down operations in Russia after that country invaded Ukraine.

By Lynne Marek • April 27, 2022

CFPB aims to level playing field between banks, fintech

Banks have long complained that fintechs are able to offer many of the same financial services without abiding by the same laws. In an effort to level the playing field, the Consumer Financial Protection Bureau said Monday it would invoke a largely unused legal provision. 

By Jonathan Berr • April 25, 2022

Travel lifts Amex results in 1Q

American Express results benefited from a return of travel during the first quarter and future bookings are up relative to 2019, the company said. Analysts expect increased travel to be a boon for the other card companies too when they report earnings later this week.

By Lynne Marek • April 25, 2022

PayPal CEO's compensation surges

The pay package for Dan Schulman jumped last year to $32 million even as the digital payment company delivered disappointing results for the fourth quarter and cut its revenue growth outlook for this year. 

By Lynne Marek • April 22, 2022

Palm pay hits more Whole Foods stores

The grocery chain added Amazon One technology, which lets users pay with their palm prints, to a newly opened store in Austin, Texas, this week and plans to bring it to six other area locations in the coming weeks.

By Catherine Douglas Moran • April 21, 2022

Bank of America cards go green

The bank said all of its plastic credit and debit cards will be made from at least 80% recycled material starting next year. The move is expected to reduce its use of non-recycled plastics by some 235 tons.

By Robin Bradley • April 21, 2022

Mastercard picks new startup program members

The initiative aims to support fintech startups during and after their time with Mastercard by introducing the small business owners to other entrepreneurs and potential partners in the payments realm.

By Tatiana Walk-Morris • April 21, 2022

Retail has a checkout problem...and speed alone won't solve it

The speed of one-click checkout isn't the answer to every cart abandonment problem, says one payments tech executive. There are other factors for retailers to consider when determining whether the checkout experience is convenient for the customer.

By Yvan Boisjoli • April 19, 2022

Inflation hands cards a mixed bag

Higher spending due to inflation is poised to drive up credit card volumes, according to an S&P Global Market Intelligence report. Card issuers have been eager to see stronger loan growth, but if delinquencies rise, that could be concerning for the industry.

By Caitlin Mullen • April 13, 2022

PayPal CFO exits for Walmart

PayPal's CFO John Rainey said he would leave to join the retailer at the end of May. The exit follows a rough end to 2021 for the digital payments pioneer. One analyst said it wasn't a surprise after "a period of overpromising and under-delivering."

By Lynne Marek • April 13, 2022

Despite pandemic, travel perks draw premium cardholders

Travel-related benefits remained a favorite perk for premium credit cardholders, according to a S&P Global Market Intelligence report, even as the COVID-19 pandemic has squashed travel plans. But as card issuers have hiked premium card fees, they may have hit the limit on cardholders' willingness to pay more.

By Caitlin Mullen • April 12, 2022

Payments players caught in venture capital squeeze

The flow of venture capital to startups ebbed in the first quarter for the biggest quarterly decline since 2012. Payments players, which have been big beneficiaries of such investments, are beginning to feel the pinch.

By Lynne Marek • April 12, 2022

Stripe sees growth slowing this year after pandemic e-commerce boon

Despite opportunities to sell to the creator economy and meet demand for embedded tools, the company said it won't grow as much this year as last year, citing "one-time behavioral adjustments" in 2021. The super-unicorn still expects to expand based on "explosive growth in fintech."

By Jonathan Berr • April 12, 2022

Bolt buys Wyre to get crypto in its wallet

With the $1.5 billion acquisition of cryptocurrency payments firm Wyre, Bolt aims to bring crypto front and center within its online checkout capabilities and digital wallet. Crypto "will be a major part of Bolt’s strategy going forward," said CEO Maju Kuruvilla.

By Caitlin Mullen • April 8, 2022

Midwestern grocer Coborn's gives workers on-demand pay access

The company has teamed up with DailyPay at a time when grocers are taking cues from the gig economy and looking for ways to give employees more control over their earnings.

By Catherine Douglas Moran • April 8, 2022

Amazon expands cashierless supermarket chain

The tech juggernaut opened its first full-size checkout free Fresh store on the East Coast last week in suburban Washington, D.C., bringing the chain total to 27 nationwide. That latest opening in Fairfax, Virginia, is the first of four in that suburban area that Amazon plans to open.

By Sam Silverstein • April 8, 2022