Credit card interest rates reach record

With the Federal Reserve pushing up interest rates to calm inflation, the average credit card interest rate is climbing, too, reaching a two-decade-plus record in August.

By Lynne Marek • Sept. 2, 2022

Fiserv buys LR2 Group

The global payments processor said it paid $26 million to acquire the independent sales organization, which had been a long-time partner.

By Caitlin Mullen • Sept. 1, 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

Who’s afraid of FedNow? Not Visa

Visa's CFO on Wednesday brushed off any concerns about the threat of new competition from FedNow, or any other real-time payments system.

By Lynne Marek • Sept. 1, 2022

Digital wallets dig in

Continued adoption of digital wallets is likely to depend on the services that providers add, said Charlotte Principato, a financial services analyst for polling firm Morning Consult.

By Caitlin Mullen • Aug. 30, 2022

FedNow aims for September testing

FedNow, an effort by the Federal Reserve Banks to speed up and modernize the U.S. payments system, is expected to launch as early as next May.

By Lynne Marek • Aug. 30, 2022

FIS adds real-time payments, CBDC services

The payments processor is pitching real-time payments and central bank digital currency services to countries and central banks to aid them in advancing their financial systems.

By Caitlin Mullen • Aug. 29, 2022

Banks push back against CBDC

The nation’s biggest bank and bank trade groups stressed the risks of creating a central bank digital currency in comments to the Fed, and largely rejected the idea that a digital dollar would accomplish stated goals.

By Lynne Marek • Aug. 29, 2022

Affirm scans landscape for acquisitions

With plenty of cash on hand, Affirm CEO Max Levchin considers acquisitions as one of many routes for the buy now-pay later company to continue its growth.

By Lynne Marek • Aug. 26, 2022

Big payments companies poke at CBDC

Mastercard, PayPal, Fiserv and Stripe gave the Federal Reserve feedback on a central bank digital currency, pointing out key requirements and cautioning about the outcome.

By Lynne Marek • Aug. 25, 2022

Lawsuit filed against Block

A class action lawsuit has been filed against Cash App Investing and parent company Block over a December 2021 data breach.

By Caitlin Mullen • Aug. 25, 2022

Rho woos clients in bid to fill Brex’s small-biz void

The business banking startup added an automated expense-management tool for its middle-market clients as the company angles to snatch its share of Brex's former clients.

By Suman Bhattacharyya • Aug. 25, 2022

Google Wallet seeps into six more countries

The tech giant extended its payment services to more nations as competition with Samsung Pay and Apple Pay intensifies.

By Tatiana Walk-Morris • Aug. 25, 2022

Afterpay releases designer NFTs

The buy now-pay later company will donate all proceeds from the collection to the nonprofit Free Arts NYC.

By Dani James • Aug. 24, 2022

Bill.com revenue leaps

Bill.com’s fiscal fourth-quarter and annual revenue more than doubled as the company scooped up more mid-size and small business customers.

By Lynne Marek • Aug. 24, 2022

DailyPay releases card with Visa

The earned wage access provider introduced the new debit card after major changes in leadership earlier this year.

By Tatiana Walk-Morris • Aug. 23, 2022

CFPB spotlights payments risks

The Consumer Financial Protection Bureau is “carefully monitoring” payments innovations and risks they pose to consumers, the agency said in a report.

By Caitlin Mullen • Aug. 22, 2022

Jack Henry expects lower margin expansion

Higher costs, and less revenue from merger and acquisition activity, are crimping the outlook for profit margin expansion at Jack Henry & Associates.

By Lynne Marek • Aug. 22, 2022

Payments fundraising slows down in Q2: PitchBook

Point-of-sale, payroll, accounts payable and accounts receivable startups are leading the way in funding for payments startups, according to PitchBook.

By Tatiana Walk-Morris • Aug. 19, 2022

FedNow to launch by mid-2023, Fed official says

The federal government’s new real-time payments system should be ready for use by the middle of next year, Fed Governor Michelle Bowman said in a speech this week.

By Lynne Marek • Aug. 19, 2022

Credit card alternatives rise

Consumers are pulling back on use of their primary credit cards in favor of other payment methods, according to a survey from J.D. Power.

By Caitlin Mullen • Aug. 18, 2022

Western Union, Paymentus CFOs depart

The companies are the latest payments firms to announce a CFO change as the sector faces macroeconomic headwinds.

By Elizabeth Flood • Aug. 18, 2022

Walmart eyes payments opportunities

With PayPal’s former CFO on board, the retail behemoth is assessing its prospects in the payments arena near and far.

By Lynne Marek • Aug. 18, 2022

Remitly to buy Rewire for $80M

Cross-border payments company Remitly said it would buy the Israeli financial services company using a mix of cash and stock. 

By Lynne Marek • Aug. 17, 2022

Marqeta executive exodus follows IPO

Of 10 top executives leading the company at its IPO last year, only three remain, including CEO Jason Gardner, who said he plans to exit that role and become executive chairman.

By Jonathan Berr , Lynne Marek • Aug. 17, 2022

Whole Foods expands use of Amazon One paytech

After rolling out the bio-authentication and payment technology to a handful of stores earlier this year, the grocery chain will add it to 65 locations in California.

By Peyton Bigora • Aug. 15, 2022