Payments: Page 2


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    Gemini to return more than $1.1B to Earn customers

    The crypto exchange and New York's Department of Financial Services reached an agreement Wednesday that included a $37 million penalty for compliance failures.

    By Feb. 29, 2024
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    Capital One sets out to tackle Discover compliance issues

    The bank projects it will spend $2.8 billion in integration costs, CFO Andrew Young said Tuesday. That's on top of the $500 million Discover is planning to spend on compliance this year.

    By Feb. 28, 2024
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    Trendline

    Bank and fintech partnerships

    A partnership can be a broad hand-up from a giant bank, a targeted effort to fix a societal issue, or a strategic miscalculation.

    By Banking Dive staff
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    Warren calls out OCC over merger policy ahead of Capital One-Discover

    The senator urged regulators to block the deal and took the OCC to task for its approval record. Meanwhile, JPMorgan CEO Jamie Dimon advocated for Capital One to get a fair shake.

    By Feb. 27, 2024
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    Lynne Marek/Banking Dive
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    Column

    Fed official makes a case for the dollar’s hegemony

    Can the dollar’s reign as the world’s reserve currency persist? This Fed official makes a strong case, but digital doubts may remain.

    By Lynne Marek • Feb. 27, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
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    Q&A

    Capital One-Discover deal may spur payments M&A

    The blockbuster deal is set “to trigger a bunch of rethinking across the industry,” said Erin McCune, a partner at consulting firm Bain & Co.

    By Feb. 27, 2024
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    Kraken wants SEC suit dismissed

    The playbook for Kraken's motion to dismiss looks a lot like those of Binance and Coinbase.

    By Feb. 23, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
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    Capital One-Discover deal carries $1.38B termination fee

    The fee would apply if Discover chooses another buyer or if either board has a change of heart but not if regulators block the deal.

    By Feb. 23, 2024
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    Mastercard to be dinged by Capital One-Discover deal

    While both Mastercard and Visa will be impacted by Discover’s plan to be acquired by card issuer Capital One, the former is likely to bear the brunt of the blow.

    By Lynne Marek • Feb. 22, 2024
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    Capital One-Discover deal may spark antitrust concern

    While the $35.3 billion acquisition is expected to prompt antitrust concerns related to consumer card lending, regulators may see competition benefits in the card network arena.

    By Feb. 21, 2024
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    Cross-border payments remain focus for Fed

    Tools that “automate processes, reduce costs and promote effective safeguards across jurisdictions” may help improve cross-border payments, a Federal Reserve official said last week.

    By Lynne Marek • Feb. 20, 2024
  • Sen. Elizabeth Warren (D-MA) speaks during a Senate Banking, Housing, and Urban Affairs committee hearing on January 11, 2024 in Washington, DC.
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    Warren probes Zelle scam policy

    Three senators, including Elizabeth Warren, asked Zelle owner Early Warning Services to provide detailed information about its fraud reimbursement policy.

    By James Pothen • Feb. 20, 2024
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    PayPal invests in AI startup Rasa

    The investment is the first that the digital payments pioneer is making from its new artificial intelligence venture fund.

    By Tatiana Walk-Morris • Feb. 20, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
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    Capital One to acquire Discover in $35.3B deal

    The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.

    By Feb. 20, 2024
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    SoLo Funds nears 2M users

    The peer-to-peer lending platform has faced some regulatory backlash, but a study from London's Centre for Economics and Business Research shows it's cheaper than many other subprime options.

    By Feb. 14, 2024
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    Anna Hrushka/Banking Dive
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    Q&A

    Adyen eyes growth in North America

    Davi Strazza, North America president at Adyen, pointed to the Dutch processor’s single technology platform as setting it apart in a crowded field of payments players.

    By Feb. 14, 2024
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    NY AG expands suit against DCG

    Attorney General Letitia James initially alleged that Digital Currency Group and others defrauded investors of $1 billion. Now, after hearing from more investors, that number is up to $3 billion.

    By Feb. 12, 2024
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    Bill Holdings, Bank of America revamp contract

    The provider of bill-pay software services was expecting to extend its services to more of the bank's clients. Now the bank is changing its plans.

    By Lynne Marek • Feb. 12, 2024
  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Citi moves deeper into e-commerce through digital couponing

    The bank recently launched a browser extension that searches for coupons on merchant checkout pages, suggests applicable codes and can activate cash-back offers.

    By Feb. 12, 2024
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    Q&A

    Banks should step up scam response: fraud expert

    With regulators gearing up to take a stronger stance against digital payments fraud, banks must focus on how they handle scams, one executive says.

    By Feb. 9, 2024
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    The image by Wichita Regional Chamber of Commerce is licensed under CC BY 2.0
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    Ex-Heartland Tri-State CEO charged with embezzling $47M in crypto

    A Heartland customer told authorities he saw a red flag when Shan Hanes, the bank’s CEO until July, asked him for $12 million to help take his money out of a crypto investment, according to Bloomberg.

    By Feb. 8, 2024
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    Courtesy of Peterbilt
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    Fleet fintech ditches Visa for Mastercard

    Fuel card startup AtoB, with $112 million in financial backing, plans to take on dominant fleet service rivals Wex and Fleetcor.

    By Lynne Marek • Feb. 6, 2024
  • U.S. Treasury Secretary Janet Yellen testifies before the House Committee on Financial Services
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    Yellen asks Congress for stablecoin legislation

    Treasury Secretary Janet Yellen renewed a call for Congress to act on digital assets, saying “there is no appropriate regulatory framework.”

    By James Pothen • Feb. 6, 2024
  • An digital sign for a purse, listing price and other color options, with a retail store in the background.
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    Why ‘pay-by-bank’ faces adoption hurdles in US retail

    Pay-by-bank has been catching on slowly, and it’s a particularly long shot for showing up at the point of sale any time soon.

    By Feb. 5, 2024
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    Celsius emerges from bankruptcy after 18 months

    As part of its bankruptcy exit, the crypto exchange is distributing $3 billion to creditors and launching a Bitcoin mining firm.

    By Feb. 2, 2024
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    One in four companies ban GenAI

    The research by Cisco found that generative artificial intelligence tools are putting many companies’ sensitive data at increased risk of public exposure.

    By Alexei Alexis • Jan. 30, 2024