Payments: Page 7


  • An American flag flies in front of the Capital One logo at the bank's headquarters.
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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 March 7, 2024
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    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 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
  • An illustration of the front of a bank connected to different icons representing digital services.
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    Chor muang via Getty Images
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    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 March 6, 2024
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    Dan Kitwood/Getty Images News via Getty Images
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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
  • A Capital One sign is seen
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    Joe Raedle / Staff via Getty Images
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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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    Spencer Platt via Getty Images
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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
  • Federal Reserve Governor Christopher Waller sits on a chair on stage.
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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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    Win McNamee / Staff via Getty Images
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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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    Dan Kitwood / Staff via Getty Images
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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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    Win McNamee / Staff via Getty Images
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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
  • Window with sticker showing logos for Visa, Mastercard and American Express.
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    Scott Olson via Getty Images
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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
  • The Capital One logo is displayed on the side of its headquarters in McLean, Va.
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    Win McNamee via Getty Images
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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
  • The Federal Reserve building is seen January 22, 2008 in Washington, DC.
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    Chip Somodevilla via Getty Images
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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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    Kent Nishimura via Getty Images
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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
  • PayPal logo in front of a glass building with shrubery in the foreground
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    Justin Sullivan via Getty Images
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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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    Win McNamee / Staff via Getty Images
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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
  • An Adyen office in Amsterdam
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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
  • Cryptocurrency tokens lying next to a gavel
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    Just_Super via Getty Images
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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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    Justin Sullivan / Staff via Getty Images
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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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    Mario Tama via Getty Images
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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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    jariyawat thinsandee via Getty Images
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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
  • A purple Peterbilt Model 579.
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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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    Win McNamee via Getty Images
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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