Payments


  • FTX signage is shown with a phone in the foreground
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    Leon Neal / Staff via Getty Images
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    Former FTX exec Ryan Salame sentenced to 7½ years

    He originally faced up to 10 years in prison, following guilty pleas to two counts in September. Prosecutors, however, suggested he serve five to seven years.

    By May 28, 2024
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    Joe Raedle / Staff via Getty Images
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    Walmart and Capital One break up

    The retail behemoth and its credit card issuer said in a terse, joint press release Friday that they’re parting ways.

    By Lynne Marek • May 24, 2024
  • Trendline

    Fraud and AML in banking

    It’s not just big banks like Citi and TD that face stiffer AML oversight from regulators. The FDIC is looking closely at banks offering BaaS alongside fintechs.

    By Banking Dive staff
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    Sorry, Cash App. Gen Z still wants bank branches.

    Young consumers are open to using the peer-to-peer payments app as their primary bank, but many say they won’t switch because they value having a physical branch.

    By James Pothen • May 21, 2024
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    Shutterstock.com/ Pixels Hunter

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    Sponsored by Form3

    Real-time payments revolution: Platform approach ushers in faster transactions

    A platform-based approach helps banks commercialize value-added services and develop a more client centric model.

    May 20, 2024
  • A Capital One sign is seen
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    Joe Raedle / Staff via Getty Images
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    Fed, OCC to hold meeting July 19 on Capital One-Discover deal

    At $35.3 billion, the acquisition is well above the size that typically sees a public hearing by regulators. Agencies are eyeing tougher merger scrutiny, but that idea has received partisan backlash.

    By Lynne Marek • May 15, 2024
  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
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    Lynne Marek/Banking Dive
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    Fed, TCH joust over interoperability

    When it comes to bridging the FedNow and RTP networks, officials at the Federal Reserve and The Clearing House have slightly different priorities.

    By Lynne Marek • May 7, 2024
  • A bicyclist rides by a Wells Fargo bank branch in San Francisco, California
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    Justin Sullivan / Staff via Getty Images
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    Wells Fargo says US authorities probing Zelle disputes

    JPMorgan also said it was responding to civil and government authorities’ inquiries regarding handling Zelle customer disputes. The banks did not divulge further details.

    By May 3, 2024
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    Stripe unbundles services as industry shifts

    The company’s move to decouple embedded financial services from payment processing means it’s ready to pursue larger customers, analysts said.

    By James Pothen • May 1, 2024
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    CFO Editorial Staff
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    FedNow pricing aimed at avoiding market disruption

    The Federal Reserve sought to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a central bank official said Wednesday.

    By James Pothen , Lynne Marek • April 29, 2024
  • An American flag flies in front of the Capital One logo at the bank's headquarters.
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    Win McNamee via Getty Images
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    DOJ examines Capital One-Discover deal’s competitive angle

    The Fed and the OCC extended their comment periods on the proposed acquisition until May 31. Capital One doesn’t “take any signaling” from the regulators’ decision, CEO Richard Fairbank said.

    By April 26, 2024
  • A bronze sculpture of an eagle with a 16-foot wingspan adorns the outside of the Federal Reserve Bank of Atlanta.
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    Jens_Lambert_Photography via Getty Images
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    Fed seeks 8,000 financial institutions for FedNow

    About 700 financial institutions have connected to the Fed’s instant payment network since last July, with at least 1,000 more in the pipeline, a FedNow official said this week.

    By Lynne Marek , James Pothen • April 26, 2024
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    Q&A

    Anchorage Digital CEO says custody, staking services poised for growth

    Anchorage Digital's newly hired COO Aaron Schnarch will be key in scaling up to meet the increasing institutional demand for safe digital asset infrastructure, CEO Nathan McCauley said.

    By April 24, 2024
  • Binance CEO Changpeng Zhao on stage
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    The image by Piaras Ó Mídheach/Web Summit via Sportsfile is licensed under CC BY 2.0
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    US seeks 3 years in prison for Changpeng Zhao, $5.3B fine for Do Kwon

    The federal government is tying up loose ends to address high-profile crypto crimes of yesteryear.

    By April 24, 2024
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    First Internet Bank CEO talks M&A, BaaS work

    After its acquisition of First Century Bank fell through in 2022, First Internet built its own banking-as-a-service team, CEO David Becker said. It now counts startup Ramp as a client.

    By April 24, 2024
  • A person pushes a cart in front of Walmart
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    Scott Olson via Getty Images
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    Fintech One offers BNPL at Walmart stores: report

    The move presents competition for BNPL provider Affirm, which has partnered with the retail giant since 2019.

    By April 23, 2024
  • Small wooden box swag from Fed with FedNow logo.
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    Lynne Marek/Banking Dive
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    Fed courts nonbanks for FedNow growth

    Nonbanks "help us understand what is needed, what customers are demanding [and] not seeing, what's on the horizon that we should be thinking about," a Chicago Fed specialist said this month.

    By Lynne Marek • April 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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    For Capital One and Discover, the 4th time may have been the charm

    Discover rebuffed three Capital One pitches before agreeing to a deal, and talks halted for seven weeks, an SEC filing indicates.

    By April 22, 2024
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    "Truist Plaza" by Tyler Lahti is licensed under CC BY-SA 2.0
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    Truist CIO, chief audit officer leave bank

    The bank, meanwhile, has added new leaders in its payments business and logged $70 million in restructuring charges in the first quarter, CEO Bill Rogers said Monday.

    By April 22, 2024
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    Michael M. Santiago via Getty Images
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    Pathward to pay refunds, penalty tied to NY AG investigation

    The bank, a frequent partner to fintechs, froze customer accounts and transferred money to debt collectors, violating state law, the NY AG’s office said.

    By April 17, 2024
  • Seal of the Board of Governors of the United States Federal Reserve System.
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    LD via Getty Images
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    Fed keeps up CBDC research

    Despite political opposition to a potential U.S. central bank digital currency, research staff at the central bank continue to study the possibility.

    By Lynne Marek • April 17, 2024
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    E4C via Getty Images
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    US, Europe lock arms on payments regulation

    U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.

    By Lynne Marek • April 15, 2024
  • The Wall Street sign in the Financial District of Lower Manhattan in New York City.
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    hapabapa via Getty Images
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    Citi’s reorg job toll climbs to 7,000: Fraser

    The bank boosted its expectation for annual savings to $1.5 billion. Meanwhile, Citi, Wells Fargo and JPMorgan Chase reported marked increases in FDIC special assessment costs.

    By April 12, 2024
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    Courtesy of KeyBank
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    KeyBank scouts for fintech partners

    The bank, which has yet to strike a fintech partnership this year, generally enters into one to two each year, said Ken Gavrity, president of Key Commercial Bank.

    By April 10, 2024
  • JPMorgan Chase CEO Jamie Dimon
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    Dimon blasts regulation, proxy advisers in annual letter

    The JPMorgan Chase CEO also gave prominent space to AI, touting its potential impact in software engineering, customer service and operations, “as well as in general employee productivity."

    By April 8, 2024
  • Treasury Prime multi-bank network
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    Treasury Prime, Narmi partner to offer customers FedNow service

    The partnership aims to simplify and accelerate the adoption of FedNow by small and medium-sized financial institutions in Treasury Prime’s network.

    By April 3, 2024