Payments


  • A person displays their open wallet and cards
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    Joe Raedle / Staff via Getty Images
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    LendingClub, Pagaya acquire tech assets of defunct Tally

    Tally’s assets will be integrated into the existing products of both firms, according to company spokespeople. Tally shuttered in August this year over failure to raise funds.

    By Oct. 10, 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 urges judge again to dump NY AG’s fraud suit

    Lawyers for the bank argue the state is trying to rewrite the Electronic Fund Transfer Act through “litigation” and that when consumers are deceived into sending money to criminals, it’s “not a Citi issue.”

    By Oct. 9, 2024
  • Explore the Trendline
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    Trendline

    Data-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
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    Creative via Getty Images
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    Tech costs, regulatory demands among community bankers’ top worries

    A recent survey of community bankers also cited cost of funds as a top risk, amid the higher rate environment. “Right now, our motto is ‘Survive until 2025,’” a Pennsylvania community bank CEO said.

    By Oct. 8, 2024
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    Daniel Boczarski via Getty Images
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    Fiserv teams with Canadian company on open banking

    Fiserv has allowed Zūm Rails to use its embedded finance system to bring open banking and instant payments to Fiserv’s U.S. business customers.

    By Patrick Cooley • Oct. 4, 2024
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    Retrieved from OCC.
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    OCC seeks to halt Illinois card interchange fee law

    The Office of the Comptroller of the Currency blasted an Illinois law that prohibits credit and debit card interchange fees on tips and excise taxes.

    By Lynne Marek • Oct. 3, 2024
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    Jonathan Drake/Reuters

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    Hurricane Helene aftermath prompts card, cash troubles

    After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.

    By Lynne Marek • Oct. 3, 2024
  • Person uses a phone to pay with credit card
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    Sitthiphong via Getty Images
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    Oportun inks deal to sell credit card portfolio

    The deal, expected to close in November, is a push by the online lender to pursue profitability by simplifying its business and focusing on its core products. 

    By Oct. 2, 2024
  • Digital payments
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    Courtesy of Adyen
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    Kansas City Fed dissects consumer use of digital payments

    About 95.5% of U.S. households have a bank account, and 46.4% use a nonbank payment service, a new report says. Meanwhile, the Boston Fed found more consumers are using credit cards to make ends meet.

    By Tatiana Walk-Morris • Sept. 30, 2024
  • Fiserv headquarters in Brookfield, Wisconsin
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    Google Maps

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    Wells Fargo, Fiserv to end joint venture

    Fiserv will receive an unspecified cash payment from the bank. The payments processor will also take a $400 million to $600 million impairment charge this year related to the joint venture.

    By Patrick Cooley • Sept. 30, 2024
  • Visa cards are fanned out on table
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    Justin Sullivan / Staff via Getty Images
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    How Visa stymied big tech rivals

    The U.S. lawsuit paints a picture of the dominant card network using lures and threats to stifle competition from Apple, PayPal and others.

    By Lynne Marek • Sept. 25, 2024
  • Sezzle CEO Charlie Youakim
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    Permission granted by Sezzle
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    Q&A

    Sezzle evolves alongside BNPL industry

    The company now offers more products but also faces more regulatory pressure, Sezzle CEO Charlie Youakim said.

    By Patrick Cooley • Sept. 25, 2024
  • The Federal Reserve building at sunset.
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    Douglas Rissing via Getty Images
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    Fed payments proposal pits big banks against small rivals

    Large institutions welcome the move to extend the operating hours of two interbank payments systems, but smaller ones may feel the squeeze of increased workload, staffing and competition.

    By Lynne Marek • Sept. 18, 2024
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    Courtesy of U.S. Bank
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    U.S. Bank reaches its proving ground

    The super-regional is at an “inflection point” after recent acquisitions and tech updates, CEO Andy Cecere said at the bank’s investor day. One analyst, however, is calling for “a new set of eyes at the top.”

    By Sept. 13, 2024
  • Stickers with the visa and mastercard logos on the exterior window of a store.
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    Justin Sullivan via Getty Images
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    U.S. Bank rolls out access to Paze digital wallet

    The bank began offering the payments option from Early Warning Services to its credit and debit cards customers this week.

    By Patrick Cooley • Sept. 13, 2024
  • A corporate headshot of Stephanie Ferris, CEO of payment processor Fidelity National Information Services
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    Courtesy of FIS

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    FIS draws fintech startups into accelerator

    Fidelity National Information Services this week continued an annual program backing young fintechs that are striving to disrupt the financial services landscape.

    By Lynne Marek • Sept. 11, 2024
  • ansa anywhere digital card at point-of-sale system
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    Ansa debuts in-store digital wallet capabilities

    Ansa last week launched a software development kit, which can be integrated into a brand’s mobile app. “The pain’s on our side to make sure all their systems talk,” co-founder Sophia Goldberg said.

    By Sept. 11, 2024
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    Viorika via Getty Images
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    Airwallex eyes embedded payments in globalization push

    Headcount increases in Brazil and Mexico are among the “immediate bets” the company is making, executive GM Ravi Adusumilli said.

    By Grace Noto • Sept. 10, 2024
  • Shift4 Payments SpaceX Isaacman
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    Retrieved from Polaris Dawn on September 06, 2024
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    The fintech CEO who is becoming a frequent flier with SpaceX

    On Jared Isaacman’s second trip to space, the billionaire plans to become the first private spacewalker. Shift4 investors will need to follow space news to learn about it.

    By Justin Bachman • Sept. 9, 2024
  • Phone in hand with 'pay' button showing
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    Tero Vesalainen via Getty Images
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    Visa to upgrade pay-by-bank service in UK next year

    The card network plans to make the account-to-account service available to consumers for paying bills, like rent, but eventually for other uses too, such as digital streaming.

    By Patrick Cooley , Lynne Marek • Sept. 6, 2024
  • Consumer Financial Protection Bureau Director Rohit Chopra testifies before the Senate Banking, Housing and Urban Affairs Committee April 26, 2022 in Washington, DC.
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    Win McNamee via Getty Images
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    CFPB slammed with EWA commentary

    The Consumer Financial Protection Bureau asked for public feedback on its earned wage access rule proposal and it got an earful.

    By Lynne Marek • Sept. 4, 2024
  • A skyscraper with the name "U.S. Bank" atop it is shown.
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    Courtesy of U.S. Bank
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    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 Aug. 29, 2024
  • Federal Reserve Board Governor Christopher Waller sits at table speaking.
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    Sarah Silbiger via Getty Images
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    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
  • Money transfer app on mobile device
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    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
  • Daniel Muller
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    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
  • FTX signage is shown with a phone in the foreground
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    Leon Neal / Staff via Getty Images
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    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 Aug. 23, 2024