CEOs Sound Off: Fintechs press for open banking mandates

In 2022, CEOs whose companies touch payments are eager for regulators to move toward increased open banking in the U.S., to allow a framework for more sharing of consumer data. They believe it will drive innovation and enhanced financial services.

By Lynne Marek • Jan. 24, 2022

Fed's long-awaited CBDC report arrives

"While the existing U.S. payment system is generally effective and efficient, certain challenges remain," the Fed paper says. "A significant number of Americans currently lack access to digital banking and payment services."

By Jonathan Berr • Jan. 20, 2022

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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

CFPB weighs in on earned wage access

The federal agency hinted this week that it will scrutinize earned wage access services and their fees to determine whether they're subject to lending laws. It also suggested it may revisit Trump-era policies regarding such businesses.

By Lynne Marek • Jan. 20, 2022

Experian debuting BNPL bureau later this year

The Ireland-based credit reporting agency said it's creating a designated bureau to handle real-time reporting of buy now-pay later data, as the installments trend becomes increasingly popular with consumers.

By Caitlin Mullen • Jan. 20, 2022

Payments pros demand top dollar in talent war

It’s become a “candidates’ market” with companies desperate to hire or retain payments executives and offering up to 30% premiums to lure professionals in short supply.

By Lynne Marek • Jan. 20, 2022

Walmart signals crypto, NFT plans with trademark applications

While plenty of companies are eyeing digital asset technology, a potentially large push from the big-box retailer could go a long way in spurring mainstream consumer adoption.

By Peter Adams • Jan. 18, 2022

B2B payments can be a pain. Here's why 2022 might be the year that changes.

The COVID-19 pandemic pushed the fast-forward button on payments innovation in the B2B space, and a crop of new technologies are set to make these payments faster and easier.

By Caitlin Mullen • Jan. 18, 2022

Grocery co-op to pilot frictionless shopping tech

Retail cooperative Wakefern Food is conducting the test at a New Jersey location in conjunction with Israeli computer vision startup Trigo, which is making its U.S. debut with the partnership.

By Sam Silverstein • Jan. 18, 2022

NMI purchases IRIS to expand merchant services

With extensive venture capital infusions from three investment firms, NMI is making acquisitions to expand its payments reach.

By Lynne Marek • Jan. 18, 2022

Small businesses count on digital payments to drive growth

Most micro and small businesses surveyed by Visa said they expect new digital payment methods to help their enterprises grow this year, with almost a quarter saying they plan to accept digital currencies like Bitcoin this year.

By Caitlin Mullen • Jan. 13, 2022

Powell says Fed paper on CBDC is weeks away

The oft-delayed digital currency white paper is coming "within weeks," Powell said Tuesday, but is "an exercise in asking questions and seeking input ... rather than taking a lot of positions."

By Dan Ennis • Jan. 13, 2022

Save-now, buy-later startup raises $25M

Amid the buy now-pay later buzz, fintech Accrue Savings is going a different route. CEO Michael Hershfield said Accrue is on a mission to encourage consumers to save.

By Caitlin Mullen • Jan. 13, 2022

Is there an expiration date on Visa's main growth engine?

One analyst thinks so. Mizuho Securities Analyst Dan Dolev, who has been covering Visa for about three years, downgraded his rating on the largest U.S. card network company because he expects time is running out on consumers converting from cash to cards.

By Lynne Marek • Jan. 11, 2022

Payments firms see slam dunk opportunity with sports venues

Digital payments players are charging into the sports and events space, bringing new technologies to arenas they say can improve the fan experience and unlock a trove of data.

By Caitlin Mullen • Jan. 10, 2022

Crypto, privacy lead legislative priorities for payment trade group

The Electronic Transactions Association said legislative moves related to those issues will be among the most important it's tracking this year at the state and federal government levels.

By Jonathan Berr • Jan. 7, 2022

ATMs headed the way of the payphone

As cash use declines, ATMs are disappearing. The U.S. count for such automated tellers peaked in 2019 and is headed down, according to data from the research firm Euromonitor International.

By Lynne Marek • Jan. 7, 2022

Payments deals pile up in 2021

More than $50 billion in acquisitions were announced last year by companies in the payments arena. That wasn't a record, but it still ranked among one of the industry's busiest years for deal-making.

By Lynne Marek • Jan. 5, 2022

Payments are becoming invisible. Here's why that's a good thing.

"The next great evolution will see payments fully disappear into simplified, holistic commerce platforms," according to a U.S. Bank payments executive. That new era "will be here faster than you think."

By Shailesh Kotwal • Jan. 4, 2022

7 payments trends for 2022 as innovation climbs

From cross-border services to BNPL to cybersecurity tools, there will be no shortage of innovation and competition in the payments industry as businesses and their regulators shape new digital tools in the wake of the COVID-19 pandemic.

By Jonathan Berr , Caitlin Mullen , Lynne Marek • Jan. 4, 2022

Green Dot, PayPal helped recover $400M in stolen relief funds

Criminals have swindled nearly $100 billion through fraudulent applications since the start of the pandemic in the U.S., the agency said. Some payment companies aided in the effort to recover the money, CNBC reported.

By Robin Bradley • Dec. 30, 2021

Payments firms raised record sums in 2021

It was a banner year for payments startups in 2021, as they raked in nearly $32 billion in investments, according to research firm CB Insights. This year could be even hotter.

By Caitlin Mullen • Dec. 28, 2021

Mastercard buys AI firm Dynamic Yield from McDonald's

Combining Mastercard's payment expertise and Dynamic Yield's AI capabilities could help McDonald's strengthen its digital ordering strategy, as the fast-food chain pivots toward outsourcing its technology. The card company may benefit from further scaling the Yield AI business across other industries.

By Emma Liem Beckett • Dec. 21, 2021

BNPL growth prompts change from credit bureaus

Paying in installments has become wildly popular, but many of these plans aren't reflected on consumers' credit reports. Credit agencies say adaptations are coming.

By Caitlin Mullen • Dec. 20, 2021

Community banks form payments network to compete with Zelle: report

Community bank innovation consortium Alloy Labs Alliance will manage the network in partnership with Payrailz, a digital payments company, Forbes reported. 

By Anna Hrushka • Dec. 20, 2021

Bankers group presses CFPB to expand tech probe

Independent Community Bankers of America is urging the Consumer Financial Protection Bureau to sweep data aggregators into its inquiry into the practices of payment tech companies.

By Jonathan Berr • Dec. 20, 2021