Technology: Page 15
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Lynne Marek/Payments Dive
FedNow to add more fraud tools, Fed official says
The Federal Reserve is still seeking to allay financial institutions' concerns that faster payments allowed by the new instant payments system could lead to faster fraud.
By Lynne Marek • Aug. 16, 2024 -
Michael M. Santiago / Staff via Getty Images
JPMorgan, Zelle may have upper hand if litigation ensues
If the banks that own Zelle’s parent battle the Consumer Financial Protection Bureau in court, they may find some federal judges open to their arguments, lawyers specializing in the area said.
By Patrick Cooley • Aug. 15, 2024 -
Explore the Trendline➔
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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 -
Win McNamee via Getty Images
Fintechs ramp up lobbying over earned wage access, crypto
Chime, PayPal and Block, for example, spent more on lobbying in the first half of 2024 than for the same span last year, OpenSecrets reported.
By Suman Bhattacharyya • Aug. 15, 2024 -
marchmeena29 via Getty Images
OpinionWhy the CFPB’s recent EWA rule is wrong
The Consumer Financial Protection Bureau’s earned wage access rule “could outright deny EWA to the wage earners who need it the most,” writes a trade group CEO.
By Brian Tate • Aug. 14, 2024 -
Drew Angerer via Getty Images
How embedded payments are changing the way we pay
As payments technology advances, more companies are embedding the payments process in websites and apps. Here’s a primer on how this trend is advancing and changing the payments arena.
By Patrick Cooley • Aug. 13, 2024 -
tattywelshie via Getty Images
Q&AEmployers react to CFPB’s new stance on EWA
Employers are responding quickly to the Consumer Financial Protection Bureau’s rule noting earned wage access services may constitute lending, says a Chime executive.
By Lynne Marek • Aug. 12, 2024 -
Courtesy of Grocery TV
North American Bancard rebrands in bid to improve
The card payments service provider for merchants said it will now be known as North as part of an effort to evolve and appeal to businesses of all sizes.
By Lynne Marek • Aug. 12, 2024 -
Joe Raedle via Getty Images
Shift4 strives to become ‘SpaceX of payments’
Recent acquisitions and an expanded roster of clients that includes several sports teams are intended to help Shift4 dominate the payments space, the CEO said.
By Patrick Cooley • Aug. 9, 2024 -
Stock photo via Getty Images
Flywire acquires Invoiced for $55M
By way of the latest deal, the software company seeks to further expand its international payments services for its business-to-business clientele.
By Tatiana Walk-Morris • Aug. 9, 2024 -
Courtesy of Whataburger
JPMorgan fires up biometric payments processing
The biggest U.S. bank is piloting payments processing for biometric transactions, with plans to use it at the hamburger chain Whataburger, which lets customers pay with a face scan.
By Lynne Marek • Aug. 7, 2024 -
Creative via Getty Images
Toast aims to move beyond restaurants
The payments service provider is known for working with restaurants, but seeks to make headway with convenience stores, grocery stores and bottle shops.
By Patrick Cooley • Aug. 7, 2024 -
Courtesy of FIS
FIS starts to get its payments mojo back
Fidelity National Information Services is starting to recharge its card payments business in the wake of selling Worldpay, the company’s CEO said.
By Lynne Marek • Aug. 6, 2024 -
Courtesy of Apple
Apple services revenue rises with boost from payments
The company said it raised a record $24.2 billion from services in the most recent quarter, a 14% year-over-year increase.
By Patrick Cooley • Aug. 5, 2024 -
Lynne Marek/Payments Dive
FedNow ‘could lower fees’ in future, analyst reports
The Federal Reserve instant payments system may cut fees after it attracts more financial institutions, or in the face of competition, a Wolfe Research analyst said, citing a FedNow official.
By Lynne Marek • Aug. 5, 2024 -
Lynne Marek/Payments Dive
Outdated tech could slow instant payment adoption: survey
Financial institutions expect business clients to be a driver of instant payment revenue, but adopting the technology comes with hurdles, the results of a recent survey showed.
By Tatiana Walk-Morris • Aug. 2, 2024 -
Courtesy of Fifth Third
Stripe, Fifth Third Bank to team on embedded services
The global digital payments company will team with the bank to offer embedded finance services to its clients.
By Patrick Cooley • Aug. 1, 2024 -
Courtesy of Mastercard
Mastercard refocuses on tech in int’l markets
The card network will incur a charge in the current quarter for a realignment that is boosting investments in newer technologies, including in Africa and Latin America.
By Lynne Marek • Aug. 1, 2024 -
putilich via Getty Images
Q&AHow artificial intelligence can improve payments fraud prevention
Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.
By Patrick Cooley • July 31, 2024 -
Permission granted by Victoria Reynolds
Q&A5 questions for Brex’s new compliance chief
When it comes to innovation, “if it's moving too quickly for customer protection to keep pace, it’s not happening,” said Sibongile Ngako, who recently joined the fintech as chief compliance officer.
By Caitlin Mullen • July 31, 2024 -
Courtesy of Amazon
Amazon’s checkout tech is getting an AI upgrade
Just Walk Out is rolling out an advanced AI model that the company says will make its system more accurate and efficient and less costly to implement.
By Jeff Wells • July 31, 2024 -
Permission granted by PayPal
PayPal CEO leans on big-name clients for growth
Alex Chriss, appointed to lead the digital payments business last year, noted the company is benefiting from ties to companies like Facebook parent Meta.
By Lynne Marek • July 30, 2024 -
Matt Winkelmeyer via Getty Images
Stripe buys software rival Lemon Squeezy
The San Francisco payments giant bought the 4-year-old Salt Lake City startup as it continues its global expansion.
By Patrick Cooley • July 30, 2024 -
I going to make a greatest artwork as I can, by my head, my hand and by my mind. via Getty Images
Affirm says CFPB’s proposed BNPL rules will confuse customers
In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.
By Patrick Cooley • July 29, 2024 -
Justin Sullivan via Getty Images
PayPal changes chairman, reduces board size
PayPal’s chairman of nine years left that post this week, and was replaced by one of the board’s newer members.
By Lynne Marek • July 26, 2024 -
Lynne Marek/Payments Dive
Opinion
How to speed up FedNow adoption
“Interfaces need to be standardized to ensure a consistent and reliable payment experience for businesses and consumers,” writes one payments software executive.
By Ani Narayan • July 26, 2024
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