Payments: Page 7
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Capital One angles to push Discover upmarket
With its acquisition of the card network, Capital One seeks to elevate Discover’s brand while also working to expand its acceptance abroad.
By Caitlin Mullen • March 7, 2024 -
Ansa cuts fees for merchants with white-labeled wallets
With an Ansa wallet, a merchant “doesn’t have to maintain ... what is at its core really tricky and regulated payments infrastructure,” co-founder Sophia Goldberg said.
By Gabrielle Saulsbery • March 6, 2024 -
Trendline
Fraud and AML in banking
The past year has been one of reckoning with regard to fraud — from TD’s $3 billion AML penalty to the continuing punitive phase connected to PPP misdeeds, crypto bankruptcies and pig butchering.
By Banking Dive staff -
i2c pursues bank clients abroad
The issuing-processing fintech sees a bigger opportunity in regions outside the U.S. to sell its core banking services, founder and CEO Amir Wain said.
By Caitlin Mullen • March 6, 2024 -
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 Gabrielle Saulsbery • Feb. 29, 2024 -
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 Caitlin Mullen • Feb. 28, 2024 -
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 Dan Ennis • Feb. 27, 2024 -
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 -
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 Caitlin Mullen • Feb. 27, 2024 -
Kraken wants SEC suit dismissed
The playbook for Kraken's motion to dismiss looks a lot like those of Binance and Coinbase.
By Gabrielle Saulsbery • Feb. 23, 2024 -
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 Dan Ennis • Feb. 23, 2024 -
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 -
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 Caitlin Mullen • Feb. 21, 2024 -
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 -
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 -
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 -
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 Dan Ennis • Feb. 20, 2024 -
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 Gabrielle Saulsbery • Feb. 14, 2024 -
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 Caitlin Mullen • Feb. 14, 2024 -
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 Gabrielle Saulsbery • Feb. 12, 2024 -
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 -
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 Suman Bhattacharyya • Feb. 12, 2024 -
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 Caitlin Mullen • Feb. 9, 2024 -
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 Gabrielle Saulsbery • Feb. 8, 2024 -
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 -
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