Technology: Page 66
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Justin Sullivan via Getty Images
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 -
choness via Getty Images
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 -
Explore the Trendlineâž”
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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 -
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 -
Courtesy of Tricia Harte
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 -
Delmaine Donson via Getty Images
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 -
VioletaStoimenova via Getty Images
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 -
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Payhawk plans 2022 New York office opening
The Sofia-based company raised more than $130 million this year, arming it to take on U.S. rivals in providing business clients with payments management tools.
By Ted Jackson • Dec. 17, 2021 -
Courtesy of Klarna
Feds increase scrutiny of buy now-pay later
The Consumer Financial Protection Bureau is concerned about consumers taking on too much debt, and about BNPL providers evading laws. As a result, it's demanding information from five of the biggest players in the emerging industry.
By Lynne Marek , Jonathan Berr , Caitlin Mullen • Dec. 16, 2021 -
Astrid Stawiarz via Getty Images
Klarna extends BNPL to all online retailers
After acquiring the Dutch marketing software company Piggy, the Swedish buy now-pay later company is folding automatic couponing and price drop notifications into its offering and expanding the reach of its services.
By Tatiana Walk-Morris • Dec. 15, 2021 -
ViewApart via Getty Images
Gen Zers relied on buy now-pay later for holiday shopping. It's time to pay up.
Look up #Klarna, #Afterpay or #Affirm on the social media site TikTok. Beneath some of those BNPL provider hashtags are videos of teens dancing and lip syncing to viral sounds, with the balances they owe in the background.
By Maria Monteros • Dec. 15, 2021 -
Retrieved from Flickr/frankieleon.
Card industry faces $400B in fraud losses over next decade, Nilson says
Fraud-fighting efforts kept card industry losses at bay last year, according to Nilson Report, but the research firm says don’t expect the same when this year wraps up. "The decline in the dollar amount of fraud losses in 2020 will not be repeated in 2021," the report said.
By Caitlin Mullen • Dec. 14, 2021 -
yalcinsonat1 via Getty Images
Corcentric to grow through SPAC
Payments technology company Corcentric aims to grow, including internationally, by way of a merger with a special purpose acquisition company that will raise capital and take the business public.
By Lynne Marek • Dec. 13, 2021 -
alamy.com/Westend61 GmbH
Sponsored by CybersourceThree payments "resolutions" that no company can afford to skip
Learn the three payments "resolutions" that every company must make to ensure their customers never face a moment of friction at the check-out screen.
Dec. 13, 2021 -
Megan Quinn/Payments Dive
Crypto execs urge regulation tailored to risks
They told lawmakers at a Wednesday hearing on Capitol Hill that nothing short of U.S. leadership in the field of digital assets is at stake.
By Dan Ennis • Dec. 10, 2021 -
Rebecca Pifer/Payments Dive
Fintech firms lock arms for new standard
Digital finance company Plaid is leading a group of fintechs, data security companies and compliance firms in developing a new standard to protect confidential consumer data from hackers.
By Jonathan Berr • Dec. 9, 2021 -
Permission granted by Discover
Discover mulls more BNPL services
Discover Financial is brainstorming how to extend its buy now-pay later services beyond a partnership with Sezzle, CEO Roger Hochschild said at an investors' conference this week.
By Lynne Marek • Dec. 9, 2021 -
Rich Fury/WireImage via Getty Images
Will crypto wages catch on?
NFL star Odell Beckham and Miami Mayor Francis Suarez may grab headlines by taking salaries in bitcoin, but can companies pitching crypto pay services make inroads with average wage-earners?
By Ted Jackson • Dec. 8, 2021 -
Kevin Dietsch via Getty Images
OpinionFor hourly workers, the paycheck is the enemy
The magnitude of financial precarity in America is staggering. This is why employers have a responsibility for the financial health of their workers.
By David Baga • Dec. 8, 2021 -
Courtesy of Coinbase
Coinbase president seeks "rules of the road"
At a Tuesday conference, Emilie Choi reiterated the company's call for a single regulator to oversee the emerging digital asset industry. She also said the company remains on the hunt for acquisitions.
By Caitlin Mullen • Dec. 8, 2021 -
Courtesy of PayPal
Bank groups spell out payments industry concerns
"Consumers can make better-informed choices if they more fully understand a big tech’s ability to collect and use a consumer’s financial transaction data, or directly and regularly access their bank account using their sign in and password," the trade groups say.
By Jonathan Berr • Dec. 8, 2021 -
Chip Somodevilla via Getty Images
New York Fed, BIS partner on fintech research center
The innovation hub is meant to support the U.S. central bank's analysis of digital currencies, including CBDCs, and to help make cross-border payments faster and less expensive, Fed Chair Jerome Powell said.
By Robin Bradley • Dec. 7, 2021 -
Courtesy of Afterpay
Buy now-pay later orders rise 34% in holiday season, Afterpay says
The company also said user spending online rose 30%, with more Gen Z shoppers using the service between Black Friday and Cyber Monday.
By Tatiana Walk-Morris • Dec. 6, 2021 -
CardX CEO Jonathan Razi testifies before the Colorado House Business Affairs & Labor Committee earlier this year. Retrieved from CardX on July 8.
Will Stax acquisition of CardX mean more surcharging?
With the Stax acquisition of CardX last week, the combined company plans to scale its mission of bringing surcharging tools to more merchants.
By Lynne Marek • Dec. 6, 2021 -
Matt Cardy via Getty Images
Hackers sell stolen US cards at dirt cheap prices
"Even though the biggest number of card details found for sale were from these 3 countries, this doesn’t mean that they are the most vulnerable," a cybersecurity company report on the topic said.
By Jonathan Berr • Dec. 6, 2021 -
Chip Somodevilla via Getty Images
SEC Chair Gensler to crypto platforms: Come to us before we come for you
The SEC head called on digital asset exchanges to register with the agency, citing concerns for "vulnerable" investors. "If we don’t address these issues, I worry a lot of people will be hurt," he said.
By Caitlin Mullen • Dec. 3, 2021
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