Payments


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    Amex, Discover get top marks in direct banks survey

    The No. 3 and No. 4 card companies, which also hold bank licenses, scored highly in customer satisfaction among online-only banks, J.D. Power found.

    By Caitlin Mullen • May 16, 2022
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    Justin Sullivan via Getty Images

    Cannabis payments companies focus on compliance, creativity

    Federal restrictions have kept many banks and payments companies on the sidelines regarding cannabis. That has given the ACH network a foothold to facilitate payments in states where pot is legal.

    By Caitlin Mullen • May 9, 2022
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    Trendline

    Business banking

    Selling banking and payments solutions to small and medium-sized businesses has become a lucrative prospect for fintechs and banks alike.

    By Banking Dive staff
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    Justin Sullivan via Getty Images

    AmEx CEO snags $28.5M total compensation

    While the 2021 target for Stephen Squeri's long-term incentive awards was $14.5 million, the actual amount was $19 million.

    By Caitlin Mullen • May 3, 2022
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    First Century Bank scraps First Internet deal

    The Federal Reserve signed off on the combination April 29, but the banks couldn't close the tie-up by an April 30 deadline because of statutory waiting periods, and could not agree on extension terms, First Internet said.

    By May 2, 2022
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    Sponsored by Finastra

    From Uber to Grubhub, embedded finance is an everyday reality for consumers

    From buying delivery through Grubhub to requesting a ride from Uber, what exactly is embedded finance and how can banks participate in this evolution?

    By Angus Ross • April 25, 2022
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    The image by Ted Eytan is licensed under CC BY-SA 2.0

    CFPB, New York AG sue MoneyGram

    Thursday's lawsuit accuses the remittance giant of repeatedly giving senders inaccurate information about when their transfers would be available to recipients abroad. MoneyGram denounced the suit as "frivolous."

    By Jonathan Berr • April 22, 2022
  • Robinhood's acquisition of crypto firm puts UK, Europe in its sights

    The purchase of Ziglu, which is in the good graces of the Financial Conduct Authority, marks the second attempt by the stock-trading app to broach the U.K. market. Terms of the deal were not disclosed Tuesday.

    By April 19, 2022
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    AmEx takes on banks in bid for new generation of clients

    With the launch of its new checking service, the payment network aims to expand its relationship with cardholders — and not miss out on attracting consumers drawn to debit cards.

    By Caitlin Mullen • April 13, 2022
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    CBDC will take years, not months, to develop, Yellen says

    Transactions need to be faster but responsible, and regulation should be "tech-neutral," the treasury secretary said in her first remarks on digital assets since a March executive order.

    By April 8, 2022
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    Sen. Cruz seeks to restrict Fed role for CBDC

    The Texas Republican's legislation, which follows a House bill introduced this year, would prevent the central bank from issuing a digital currency directly to consumers.

    By Jonathan Berr • April 4, 2022
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    Citizens Bank offers on-demand pay product for corporate clients

    The bank said the service can be up and running within 30 days. Citizens is working with an unnamed third-party vendor to provide the offering, an executive said.

    By April 1, 2022
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    House bill would put CBDC alternative in Treasury's hands

    Legislation proposed Monday emphasizes privacy, financial inclusion and anti-money laundering protections, and would "preserve a role in our financial system for smaller anonymous cash-like transactions," backers said.

    By Lynne Marek • March 29, 2022
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    BNPL critics, backers join last-minute surge in feedback to CFPB

    The Bank Policy Institute, the Consumer Bankers Association and a litany of state attorneys general and nonprofits submitted their views to the bureau just before the comment period's Friday deadline.

    By Jonathan Berr • March 29, 2022
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    Cannabis firm's CFO works to bring industry's financing out of the 'gray'

    Item 9 Labs' net revenues more than doubled last fiscal year. But pot's federal status can still make financial partners skittish, CFO Bobby Mikkelsen finds.

    By Maura Webber Sadovi • March 29, 2022
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    Sponsored by Finastra

    If collaboration is key to BaaS, how can we nurture new partnerships?

    More than one-third of distributors expect to increase their BaaS offerings by more than 15% per year over the next three years.

    By Jeff Manghillis, Lead Client Partner, BaaS at Finastra • March 28, 2022
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    screenshot of Federal Reserve press conference

    Fed's Powell lists his 4 qualifications for a US CBDC

    A digital dollar must ensure user privacy, be "identity verifiable," be "intermediated" and be widely accepted as a means of payment, the central bank chief said at an event hosted by the Bank for International Settlements.

    By March 24, 2022
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    Alex Wong via Getty Images

    White House lays out digital-asset priorities

    An executive order issued Wednesday details six priorities in "harnessing the potential benefits" of the emerging technologies.

    By Lynne Marek • March 9, 2022
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    Andreas Rentz via Getty Images

    US extends sanctions to Russia's 2 largest banks

    Russia's access to the SWIFT financial messaging service remains intact for now, a move that sparked criticism from both Democrats and Republicans. But President Joe Biden said he wouldn't eliminate that option.

    By Feb. 25, 2022
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    Washington policymakers spout off on CBDCs

    A Friday speech by Fed Gov. Lael Brainard and a Feb. 7 report from the Congressional Research Service underscore the U.S. government's rising interest in a digital dollar.

    By Lynne Marek • Feb. 22, 2022
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    Coinbase muscles in on popular remittance corridor

    The company is partnering with Remitly to let users in Mexico cash out crypto transfers in pesos — a service that will be free through March.

    By Feb. 16, 2022
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    Retrieved from Discover Spokesman Robert Weiss on December 14, 2021

    Discover backs card-free payments

    Atlanta-based fintech Buy It Mobility is partnering with the card network to enable consumers to make direct payments from their checking accounts to merchant apps.

    By Caitlin Mullen • Feb. 16, 2022
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    clikced it myself - Vaidik Trivedi

    Jack Henry to unbundle services, put them on the public cloud

    The company's broadest strategic update in 20 years aims to help its customers adapt to disruption-by-fintech as consumers change their banking behaviors.

    By Lynne Marek • Feb. 11, 2022
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    Stefan Zaklin via Getty Images

    House lawmakers spar over stablecoin regulation

    "Simply labeling something as stable or overly relying on a one-to-one ratio does not, in itself, mean it maintains a stable value," House Financial Services Committee Chair Maxine Waters, D-CA, said Tuesday.

    By Jonathan Berr • Feb. 9, 2022
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    Chris Hondros via Getty Images

    Senators probe allegations of JPMorgan 'robo-signing' in debt collection

    A CFPB consent order barring the bank from that practice expired in 2020, but a ProPublica report alleges JPMorgan has resumed an "affidavit-signing assembly line."

    By Feb. 8, 2022
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    Revolut to offer 30-minute, fee-free remittances from US to Mexico

    Remittances sent from the U.S. to Mexico increased by 37.7% between November 2020 and 2021, according to research published by BBVA.

    By Jan. 31, 2022