Technology: Page 4
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$1.95B Apple fine is eye-catching, but EU faces tough road collecting
“While we respect the European Commission, the facts simply don’t support this decision. And as a result, Apple will appeal,” the tech giant said Monday.
By Robert Freedman • March 5, 2024 -
Q&A
EU fine challenges Apple’s payments business
The tech giant is fighting “tooth and nail” to protect its commission from in-app purchases, Consumer Reports Senior Researcher Sumit Sharma said.
By James Pothen • March 5, 2024 -
Trendline
E-commerce drives digital payment advances
As e-commerce activity continues to climb, providers of digital payment tools are likely to keep evolving their online offerings.
By Payments Dive staff -
Fiserv lines up FedNow clients
The mega processor has signed up 200 banks for FedNow, but now its clients are in search of use cases.
By Lynne Marek • March 5, 2024 -
Amex cardholder data exposed in merchant processor hack
The point-of-sale attack on a merchant processor may have compromised card numbers, expiration dates and cardholder names, Amex said in a state regulatory filing.
By Caitlin Mullen • March 5, 2024 -
Cash App enforcement action expected this year
Federal regulators reviewing whistleblower allegations related to Block’s Cash App may act on the complaints this year, predicted an attorney for the complainants.
By Lynne Marek • March 4, 2024 -
Zelle transactions jumped 28% last year to $806B
The peer-to-peer payment app provided a performance update, with transactions volume and value both up about 30% from the previous year.
By James Pothen • March 4, 2024 -
Klarna news may confirm workers’ worst fears: AI replacement
FOBO or “fear of becoming obsolete” has long plagued workers concerned about AI replacing their jobs.
By Caroline Colvin • March 1, 2024 -
Q&A
Affirm preps for UK launch
Beyond expansion to the U.K., the BNPL provider may seek to plant a flag where its large partners such as Amazon and Shopify have a presence, said Affirm’s Chief Revenue Officer Wayne Pommen.
By Caitlin Mullen • March 1, 2024 -
Green Dot faces Fed’s proposed consent order
The digital bank set aside $20 million to cover a potential penalty stemming from compliance risk management issues predating the company’s current management.
By Gabrielle Saulsbery • Feb. 29, 2024 -
Treasury Department to develop financial inclusion strategy
The department is considering how to measure and improve financial inclusion across payments and other financial services.
By Tatiana Walk-Morris • Feb. 29, 2024 -
Fiserv ponders M&A
CEO Frank Bisignano declined to comment Wednesday on a potential acquisition of Shift4, but would like to see Fiserv make more purchases that further its digital capabilities.
By Caitlin Mullen • Feb. 29, 2024 -
Apple begins sharing BNPL data with Experian
The development may spur rival BNPL providers to follow suit, according to Ed deHaan, a professor at the Stanford Graduate School of Business.
By James Pothen • Feb. 29, 2024 -
App features bolster Zip’s US revenue growth
Gamified repayment and variable first installments were two features that CEO Cynthia Scott said contributed to the BNPL company’s U.S. revenue growth.
By James Pothen • Feb. 28, 2024 -
Column
Fed official makes a case for the dollar’s hegemony
Can the dollar’s reign as the world’s reserve currency persist? This Fed official makes a strong case, but digital doubts may remain.
By Lynne Marek • Feb. 27, 2024 -
Amazon expands smart carts pilot
The tech giant’s smart shopping carts, designed to speed up the checkout process, are now available for use in a California Whole Foods store.
By James Pothen • Feb. 27, 2024 -
Q&A
Capital One-Discover deal may spur payments M&A
The blockbuster deal is set “to trigger a bunch of rethinking across the industry,” said Erin McCune, a partner at consulting firm Bain & Company.
By Caitlin Mullen • Feb. 27, 2024 -
Self-checkout promises ultimate convenience. Is it doing its job?
The process can make for faster, easier experiences, but it needs regular attention and helpful associates to thrive, consultants said.
By Bryan Wassel • Feb. 26, 2024 -
FIS promises expanding profit margins
Fidelity National Information Services promised bigger profit margins this year from its newly reconfigured business focused on banking and capital markets.
By Lynne Marek • Feb. 26, 2024 -
EWS launches wallet in South Carolina, Arizona ahead of wider rollout
Launching the Paze wallet will require preloading about 150 million cards, meaning the launch will occur as “more of a ramp up over a few months,” EWS Managing Director James Anderson said.
By James Pothen • Feb. 26, 2024 -
Google Pay app to be retired in US this year
“To simplify the app experience, the U.S. version of the standalone Google Pay app will no longer be available,” the tech giant said in a Thursday blog post.
By James Pothen • Feb. 23, 2024 -
PayPal finance exec jumps to Flywire CFO seat
Cosmin Pitigoi’s appointment comes six months after Flywire announced its long-time finance chief would be exiting.
By Maura Webber Sadovi • Feb. 23, 2024 -
Cash-strapped consumers turn to BNPL: Fed survey
Consumers facing financial hardships turned to buy now, pay later services more last year than stable consumers, according to survey results from the Philadelphia Federal Reserve Bank.
By Tatiana Walk-Morris • Feb. 23, 2024 -
Affirm sheds workers
The buy now, pay later provider has cut about 6% of its employees, joining other payments companies that have trimmed workforces this year.
By Caitlin Mullen • Feb. 22, 2024 -
OCC’s Hsu calls for federal payments licensing
The head of the OCC called on Congress to replace the current state-by-state money transmitter licensing system for payments companies with a federal regulatory framework.
By James Pothen • Feb. 22, 2024 -
Warren probes Zelle scam policy
Three senators, including Elizabeth Warren, asked Zelle owner Early Warning Services to provide detailed information about its fraud reimbursement policy.
By James Pothen • Feb. 21, 2024