Payments
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Citi urges judge again to dump NY AG’s fraud suit
Lawyers for the bank argue the state is trying to rewrite the Electronic Fund Transfer Act through “litigation” and that when consumers are deceived into sending money to criminals, it’s “not a Citi issue.”
By Dan Ennis • Oct. 9, 2024 -
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Tech costs, regulatory demands among community bankers’ top worries
A recent survey of community bankers also cited cost of funds as a top risk, amid the higher rate environment. “Right now, our motto is ‘Survive until 2025,’” a Pennsylvania community bank CEO said.
By Caitlin Mullen • Oct. 8, 2024 -
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TrendlineData-driven disruption
More often than not, an innovator may see disruption as an enhancement to be embraced. And sometimes the innovators are the establishment.
By Banking Dive staff -
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Fiserv teams with Canadian company on open banking
Fiserv has allowed Zūm Rails to use its embedded finance system to bring open banking and instant payments to Fiserv’s U.S. business customers.
By Patrick Cooley • Oct. 4, 2024 -
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OCC seeks to halt Illinois card interchange fee law
The Office of the Comptroller of the Currency blasted an Illinois law that prohibits credit and debit card interchange fees on tips and excise taxes.
By Lynne Marek • Oct. 3, 2024 -
Jonathan Drake/Reuters
Hurricane Helene aftermath prompts card, cash troubles
After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.
By Lynne Marek • Oct. 3, 2024 -
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Oportun inks deal to sell credit card portfolio
The deal, expected to close in November, is a push by the online lender to pursue profitability by simplifying its business and focusing on its core products.
By Rajashree Chakravarty • Oct. 2, 2024 -
Courtesy of Adyen
Kansas City Fed dissects consumer use of digital payments
About 95.5% of U.S. households have a bank account, and 46.4% use a nonbank payment service, a new report says. Meanwhile, the Boston Fed found more consumers are using credit cards to make ends meet.
By Tatiana Walk-Morris • Sept. 30, 2024 -
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Wells Fargo, Fiserv to end joint venture
Fiserv will receive an unspecified cash payment from the bank. The payments processor will also take a $400 million to $600 million impairment charge this year related to the joint venture.
By Patrick Cooley • Sept. 30, 2024 -
Justin Sullivan / Staff via Getty Images
How Visa stymied big tech rivals
The U.S. lawsuit paints a picture of the dominant card network using lures and threats to stifle competition from Apple, PayPal and others.
By Lynne Marek • Sept. 25, 2024 -
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Q&ASezzle evolves alongside BNPL industry
The company now offers more products but also faces more regulatory pressure, Sezzle CEO Charlie Youakim said.
By Patrick Cooley • Sept. 25, 2024 -
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Fed payments proposal pits big banks against small rivals
Large institutions welcome the move to extend the operating hours of two interbank payments systems, but smaller ones may feel the squeeze of increased workload, staffing and competition.
By Lynne Marek • Sept. 18, 2024 -
Courtesy of U.S. Bank
U.S. Bank reaches its proving ground
The super-regional is at an “inflection point” after recent acquisitions and tech updates, CEO Andy Cecere said at the bank’s investor day. One analyst, however, is calling for “a new set of eyes at the top.”
By Caitlin Mullen • Sept. 13, 2024 -
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U.S. Bank rolls out access to Paze digital wallet
The bank began offering the payments option from Early Warning Services to its credit and debit cards customers this week.
By Patrick Cooley • Sept. 13, 2024 -
Courtesy of FIS
FIS draws fintech startups into accelerator
Fidelity National Information Services this week continued an annual program backing young fintechs that are striving to disrupt the financial services landscape.
By Lynne Marek • Sept. 11, 2024 -
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Ansa debuts in-store digital wallet capabilities
Ansa last week launched a software development kit, which can be integrated into a brand’s mobile app. “The pain’s on our side to make sure all their systems talk,” co-founder Sophia Goldberg said.
By Gabrielle Saulsbery • Sept. 11, 2024 -
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Airwallex eyes embedded payments in globalization push
Headcount increases in Brazil and Mexico are among the “immediate bets” the company is making, executive GM Ravi Adusumilli said.
By Grace Noto • Sept. 10, 2024 -
Retrieved from Polaris Dawn on September 06, 2024
The fintech CEO who is becoming a frequent flier with SpaceX
On Jared Isaacman’s second trip to space, the billionaire plans to become the first private spacewalker. Shift4 investors will need to follow space news to learn about it.
By Justin Bachman • Sept. 9, 2024 -
Tero Vesalainen via Getty Images
Visa to upgrade pay-by-bank service in UK next year
The card network plans to make the account-to-account service available to consumers for paying bills, like rent, but eventually for other uses too, such as digital streaming.
By Patrick Cooley , Lynne Marek • Sept. 6, 2024 -
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CFPB slammed with EWA commentary
The Consumer Financial Protection Bureau asked for public feedback on its earned wage access rule proposal and it got an earful.
By Lynne Marek • Sept. 4, 2024 -
Courtesy of U.S. Bank
U.S. Bank works to simplify SMB banking, payments
To stand out from competitors, the Minneapolis-based lender has also expanded its SBA loan program over the last year, said Shruti Patel, chief product officer for business banking.
By Caitlin Mullen • Aug. 29, 2024 -
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Fed’s Waller questions faster cross-border payments ties
There could be more fraud and money laundering if countries move too quickly to link their faster payments systems, the central bank governor said Wednesday at a conference.
By Lynne Marek • Aug. 29, 2024 -
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MoneyGram, Adyen add chief technology officers
The payments companies are bolstering their tech leadership as big changes roil the industry and stoke competition.
By Lynne Marek • Aug. 28, 2024 -
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Aeropay targets pay-by-bank evolution in US
The Chicago fintech has moved from servicing small merchants to handling cannabis payments, and now it’s catering to gaming clients.
By Lynne Marek • Aug. 27, 2024 -
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Partner of former FTX exec hit with campaign finance charges
Now, Ryan Salame has asked a New York judge to void his guilty plea, which he attests was made following a verbal agreement with prosecutors that they would drop their probe into his partner Michelle Bond.
By Gabrielle Saulsbery • Aug. 23, 2024 -
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U.S. Bank buys healthcare payments firm
The bank’s acquisition of Tempe, Arizona-based Salucro Healthcare Solutions allows its Elavon unit to dig deeper into healthcare payments and billing services.
By Lynne Marek • Aug. 22, 2024
