Technology: Page 65


  • CFPB head Rohit Chopra talks on a panel for New America Foundation
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    The image by New America is licensed under CC BY 2.0
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    CFPB Director Chopra takes on tough payments issues

    CFPB head Rohit Chopra is a visionary regulator to some, a breaker of norms to others. Now, as director of the Consumer Financial Protection Bureau, those monikers are coming into play as he takes a magnifying glass to key payments issues, including big tech interests in the industry, rising buy now-pay later companies and on-demand pay concerns.

    By Jonathan Berr • Jan. 27, 2022
  • Diem Association logo
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    Permission granted by Diem Association
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    Diem to end crypto project, sell its tech to Silvergate Bank for $200M: report

    The deal would effectively end Facebook’s circuitous 2½-year journey in the digital currency space — one fraught with pushback from the start.

    By Dan Ennis • Jan. 27, 2022
  • Graphic of digital money transfer symbols overlaid on a map of the world Explore the Trendlineâž”
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    ArtemisDiana via Getty Images
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    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
  • Rendering of Amazon Go store in Mill Creek, Washington
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    Courtesy of Amazon
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    Amazon plans suburban stores with grab-and-go tech

    Like Amazon's urban Go locations, the suburban stores — slated to open in Washington and California — will feature the e-commerce giant's Just Walk Out frictionless checkout technology.

    By Sam Silverstein • Jan. 27, 2022
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    Al Bello via Getty Images
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    Walmart buys into 'super app' services

    The retailer's fintech startup said it will buy earned wage access facilitator Even and digital financial services company One Finance to help Walmart sell consumers a financial services "super app."

    By Jan. 27, 2022
  • Patrick and John Collison, Stripe co-founders
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    Stripe strikes deal with Spotify

    The private payments company – one of the most valuable fintech startups in the U.S. – has teamed up with music streaming pioneer Spotify to enable podcasters to accept payments. It's the latest in a string of new partnerships.

    By Caitlin Mullen • Jan. 26, 2022
  • Zip eyes Sezzle purchase as BNPL players consolidate

    Australian-based BNPL company Zip has been on an acquisition tear and its latest target is Minneapolis-based Sezzle. As the biggest BNPL players in the world seek to grow, they're on the hunt for smaller rivals.

    By Jan. 26, 2022
  • Person with finger on a phone perusing consumer goods
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    oatawa via Getty Images
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    San Francisco startups vie for checkout dominance

    In the crowded checkout technology space, startups Bolt and Fast are competing to become the company known for making the process smoother and speedier.

    By Caitlin Mullen • Jan. 25, 2022
  • Consumer using phone for financial services.
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    VioletaStoimenova via Getty Images
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    Column

    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 Jan. 24, 2022
  • Federal Reserve building in Washington, D.C.
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    Chip Somodevilla via Getty Images
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    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
  • An employee wears a mask as they work in a coffee shop at Union Station on July 30, 2021 in Washington, DC.
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    Kevin Dietsch via Getty Images
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    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 Jan. 20, 2022
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    Courtesy of Tricia Harte
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    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
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    pixelfit via Getty Images
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    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 Jan. 20, 2022
  • Walmart transforms stores to focus on digital.
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    Courtesy of Walmart
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    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
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    Matias Delacroix via Getty Images
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    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
  • An image of the sign for a ShopRite supermarket as photographed on March 18, 2020 in Plainview, New York.
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    Bruce Bennett via Getty Images
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    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
  • Picture of a calculator with the word acquisition
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    "Acquisition" by Mike Lawrence is licensed under CC BY 2.0
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    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 Jan. 18, 2022
  • A client pays contactless with her smartphone as people queue up to buy deep fried doughnut balls (oliebollen) on December 31, 2020 in The Hague, Netherlands.
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    Pierre Crom via Getty Images
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    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
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    Chip Somodevilla via Getty Images
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    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
  • Accrue Savings dashboard
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    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
  • Visa cards stacked and splayed
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    Justin Sullivan via Getty Images
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    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 Jan. 11, 2022
  • The Ford Field Express Shop, a new checkout-free market at the home of the NFL's Detroit Lions, is shown Dec. 19, 2021. Fans dip a credit card as they walk in, choose foods or beverages and exit.
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    Permission granted by Levy
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    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
  • Chief Executive of Electronic Transactions Association
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    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
  • Woman stands at a machine
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    Retrieved from Ono Kosuki from Pexels.
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    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 Jan. 7, 2022
  • The concept of the word M&A on cubes on a beautiful green background. Business concept
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    Zhanna Hapanovich via Getty Images
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    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 Jan. 5, 2022
  • A college student with a pink face mask looking at ther phone.
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    stock.adobe.com./Antonioguillem

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    Opinion

    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