Payments
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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 -
Sarah Silbiger via Getty Images
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 -
Explore the Trendline➔
Morris MacMatzen / Stringer via Getty Images
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 -
Permission granted by MoneyGram
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 -
Permission granted by Aeropay
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 -
Leon Neal / Staff via Getty Images
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 -
Permission granted by U.S. Bank
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 -
Permission granted by Money 20/20
Q&AMarqeta CEO says his platform is no ‘single-trick pony’
Simon Khalaf cites the need for banks to change their behavior to focus on customer service. He also says upcoming underwriting tech could put the banking sector “on steroids.”
By Rajashree Chakravarty • Aug. 21, 2024 -
Courtesy of U.S. Bank
U.S. Bank doubles down on AR with Billtrust
The Minneapolis-based bank’s new offering seeks to accelerate the accounts receivable process — sometimes viewed as a laggard in the race to automate finance.
By Maura Webber Sadovi • Aug. 20, 2024 -
Win McNamee / Staff via Getty Images
Capital One, Citi plan to join FedNow in ‘near future’
The two big banks say they’ll soon connect to the Federal Reserve’s new instant payment system, even as other major banks remain on the sidelines.
By Lynne Marek • Aug. 20, 2024 -
Michael M. Santiago / Staff via Getty Images
JPMorgan, Zelle may have upper hand if litigation ensues
If the banks that own Zelle’s parent battle the Consumer Financial Protection Bureau in court, they may find some federal judges open to their arguments, said lawyers specializing in the area.
By Patrick Cooley • Aug. 16, 2024 -
Courtesy of Klarna
Klarna jumps into banking business
The Swedish buy now, pay later company will let consumers use savings accounts to make payments, receive refunds and earn cash rewards from some retailers.
By Lynne Marek • Aug. 15, 2024 -
Win McNamee / Staff via Getty Images
Capital One insists Discover deal won’t increase card fees
The bank and credit card issuer told regulators in a letter that competition will require it to keep its products fairly priced.
By Patrick Cooley • Aug. 14, 2024 -
Drew Angerer via Getty Images
How embedded payments are changing the way we pay
As payments technology advances, more companies are embedding the payments process in websites and apps. Here’s a primer on how this trend is advancing and changing the payments arena.
By Patrick Cooley • Aug. 14, 2024 -
tattywelshie via Getty Images
Q&AChime exec talks on CFPB’s new EWA stance
Employers are responding quickly to the Consumer Financial Protection Bureau’s rule noting earned wage access services may constitute lending, says a Chime executive.
By Lynne Marek • Aug. 12, 2024 -
Lynne Marek/Banking Dive
FedNow to add more fraud tools, Fed official says
The Federal Reserve is still seeking to allay financial institutions' concerns that faster payments allowed by the new instant payments system could lead to faster fraud.
By Lynne Marek • Aug. 12, 2024 -
Courtesy of Funding Circle UK
TrackerA running list of fintech layoffs in 2024
Thousands of fintech employees have been let go since the start of the year. Many firms cited cost cuts.
Aug. 9, 2024 -
Chip Somodevilla via Getty Images
Fed faults Customers Bank over digital asset strategy
In an enforcement action, the Federal Reserve ordered the bank to enhance its compliance with anti-money laundering and OFAC regulations, citing “significant deficiencies.”
By Caitlin Mullen • Aug. 9, 2024 -
Courtesy of Whataburger
JPMorgan fires up biometric payments processing
The biggest U.S. bank is piloting payments processing for biometric transactions, with plans to use it at the hamburger chain Whataburger, which lets customers pay with a face scan.
By Lynne Marek • Aug. 7, 2024 -
Lynne Marek/Banking Dive
FedNow ‘could lower fees’ in future, analyst reports
The Federal Reserve instant payments system may cut fees after it attracts more financial institutions, or in the face of competition, a Wolfe Research analyst said, citing a FedNow official.
By Lynne Marek • Aug. 6, 2024 -
Dan Kitwood via Getty Images
Genesis completes restructuring, begins payouts
The company filed for bankruptcy in January 2023. User funds had been frozen since November 2022 when the crypto lender ran into liquidity issues following the collapse of FTX.
By Gabrielle Saulsbery • Aug. 5, 2024 -
Spencer Platt via Getty Images
JPMorgan threatens to sue CFPB over Zelle
The bank in May flagged government inquiries over its handling of disputes involving the P2P platform. But Friday, it said it would consider litigation if the agency were to issue an enforcement action on the matter.
By Dan Ennis • Aug. 5, 2024 -
Lynne Marek/Banking Dive
Outdated tech could slow instant payment adoption: survey
Financial institutions expect business clients to be a driver of instant payment revenue, but adopting the technology comes with hurdles, the results of a recent survey showed.
By Tatiana Walk-Morris • Aug. 2, 2024 -
Matt Winkelmeyer via Getty Images
Stripe buys software rival Lemon Squeezy
The San Francisco payments giant bought the 4-year-old Salt Lake City startup as it continues its global expansion.
By Patrick Cooley • July 30, 2024 -
Spencer Platt via Getty Images
Trump pledges to fire Gensler, support crypto
The Republican presidential nominee told Bitcoin 2024 attendees that, if elected, he will hire advisers who “want to see your industry thrive, not dive.”
By Gabrielle Saulsbery • July 29, 2024 -
I going to make a greatest artwork as I can, by my head, my hand and by my mind. via Getty Images
Affirm says CFPB’s proposed BNPL rules will confuse customers
In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.
By Patrick Cooley • July 29, 2024
