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

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Top 5 stories from Payments Dive

Dominant card networks, legacy payments processors and young fintechs are all jockeying to keep up with industry innovations and increased competition.

By Payments Dive staff

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

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

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

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

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

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

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

Three 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

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

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

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

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

For 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

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

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

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

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