Risk: Page 2
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Payments startups face pivotal year
Many venture-dependent startups that put off fundraising will be forced to do so this year or find an exit plan.
By Caitlin Mullen • Jan. 23, 2024 -
Discover lands servicer for student loan portfolio
Student loan servicer Nelnet will handle servicing of Discover’s portfolio while the card issuer markets it for sale, said CFO John Greene.
By Caitlin Mullen • Jan. 18, 2024 -
Trendline
Payments 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 -
Amex to sell fraud prevention firm Accertify
The card issuer is selling the business, which offers online fraud monitoring services to merchants, to the tech investment firm Accel-KKR.
By Caitlin Mullen • Jan. 16, 2024 -
Fiserv seeks special purpose bank charter
The designation would allow the payment processor to own transactions from end-to-end, removing the need for a bank partner.
By Caitlin Mullen • Jan. 12, 2024 -
Stablecoin issuer Circle files for IPO
Circle, which issues the USDC stablecoin, has filed confidential paperwork with the Securities and Exchange Commission — one day after the SEC's approval of 11 spot bitcoin exchange-traded funds.
By Gabrielle Saulsbery • Jan. 12, 2024 -
6 payments trends to watch in 2024
Swipe fee battles, real-time payments, fraud prevention and acquisition plans will be among the hot topics pulsing through the industry this year.
By Lynne Marek , Caitlin Mullen , James Pothen • Jan. 9, 2024 -
Q&A
Regulator’s BNPL guidance may go beyond banks
The Office of the Comptroller of the Currency directed its advice at national banks, but a Venable attorney expects others to use it to inform their approaches.
By Caitlin Mullen • Jan. 9, 2024 -
Q&A
Tyler Technologies eyes growth in digital disbursements
The company, which provides payment and software services to the public sector, is seeing increased client interest in digital disbursements such as prepaid debit cards, said Sloane Wright, Tyler’s senior VP of payments.
By Caitlin Mullen • Jan. 8, 2024 -
Bank groups voice concerns with CFPB’s open banking proposal
The Bank Policy Institute and The Clearing House want the Consumer Financial Protection Bureau to take a tougher stance on screen scraping, and allow banks to charge fees to cover the cost of enabling data sharing.
By Anna Hrushka • Jan. 5, 2024 -
Data startup Spade aims for larger customers
Spade is tapping its recent funding to try to lure more big U.S. banks to its services, CEO Oban MacTavish said.
By Caitlin Mullen • Dec. 21, 2023 -
Q&A
Amex EVP weighs in on fraud trends
Beating back fraud can feel “a bit like a vicious circle,” as the industry improves its capabilities and fraudsters pivot, said Tina Eide, an executive vice president focused on fraud at the card issuer.
By Caitlin Mullen • Dec. 19, 2023 -
SEC won’t budge on crypto regulation
In denying a petition submitted by Coinbase, the agency has concluded rulemaking isn’t needed for issuers and intermediaries to know which – and how – crypto assets fit within securities law.
By Robert Freedman • Dec. 18, 2023 -
Senators keep pressure on PayPal, Block
Senate Democrats urged top executives at PayPal and Block, in another round of letters, to improve reimbursement for victims of payment scams.
By Lynne Marek • Dec. 14, 2023 -
Authorized payment scams climb in US
Such scams are expected to jump 50-plus percent to $3 billion by 2027, forcing financial institutions to address the rising threat, according to a new report.
By Tatiana Walk-Morris • Dec. 14, 2023 -
Discover’s new CEO brings bank experience
Michael G. Rhodes, previously the group head for Canadian personal banking at TD Bank Group, will take the helm at Discover in March.
By Caitlin Mullen • Updated Dec. 12, 2023 -
Discover to spend at least $500M on compliance next year
“We’re going to continue to invest whatever we have to invest in order to get the compliance issues behind us,” CFO John Greene said last week.
By Caitlin Mullen • Dec. 11, 2023 -
Lawmakers call for action on gun code
Sen. Elizabeth Warren and 48 other congressional Democrats called on the card networks to provide answers to a dozen questions related to the gun merchant category code.
By Caitlin Mullen • Dec. 7, 2023 -
Convenience retailer Yesway adopts Relay’s fuel payment software
Relay’s cardless purchasing capability allows more fleets and drivers to avoid fraud caused by card skimming, the logistics payment company said.
By Brett Dworski • Dec. 1, 2023 -
FIS eyes small acquisitions
Fidelity National Information Services is on the hunt for smaller acquisitions in one of its divisions, and it’s benefitting from other companies’ deals in another.
By Lynne Marek • Dec. 1, 2023 -
Discover pursues sale of student loan business
The card issuer said it’s seeking to offload its $10.4 billion student loan portfolio.
By Caitlin Mullen • Nov. 30, 2023 -
PayPal tackles chargeback fraud
PayPal is attacking illegitimate customer returns with new policies after a rise in e-commerce activity has fueled that type of fraud across the industry.
By Lynne Marek • Nov. 29, 2023 -
Visa proposes new plan for covering litigation liability
The card network’s board approved pursuing a shareholder vote on a new approach to covering potentially more than $35 billion in outstanding merchant claims against the company.
By Lynne Marek • Nov. 22, 2023 -
Will China be a boon or bust for card networks?
U.S. card companies have gained a foothold in China’s market, but they must still win over banks and battle behemoth China UnionPay.
By Lynne Marek • Nov. 21, 2023 -
Credit card demand remains robust, rejections rise: New York Fed
As consumers have leaned on credit cards more in recent months, applications for credit card limit extensions also rose, the New York Fed said Monday.
By Caitlin Mullen • Nov. 21, 2023 -
Small business card debt has risen: Bank of America
Credit card spending for small businesses has largely been flat relative to last year, but balances have risen, the Bank of America report said.
By Tatiana Walk-Morris • Nov. 17, 2023