Payments
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Visa's Plaid deal pushes open banking, third-party security to forefront
The $5.3 billion acquisition may spur more fintech-on-fintech M&A, but the crux may lie in the card network's desire to stay relevant, analysts say.
By Anna Hrushka • Jan. 17, 2020 -
Citi narrows gender pay gap to 27% in second yearly report
The nation's third-largest bank is using the gulf between the raw and adjusted pay gap figures to call for more women and minorities to fill management roles.
By Dan Ennis • Jan. 16, 2020 -
Visa to acquire Plaid for $5.3B
The payment card network was revealed as an investor in the Silicon Valley-based startup in September, along with competitor Mastercard.
By Anna Hrushka • Jan. 13, 2020 -
OpinionDropping 'digital' from digital banking: 5 trends for 2020
Tech companies that want to bank could have a breakout year. Meanwhile, businesses will continue to go paperless, people cashless, and banking-as-a-service will court greater buy-in, a Mastercard executive writes.
By Jeff Hindle • Jan. 13, 2020 -
Mastercard app to show loyalty rewards in augmented reality
Tapping on a digital rendering of golf clubs will open a pop-up that explains how cardholders can access a program to book tee times at resorts and room upgrades at hotels.
By Robert Williams • Jan. 10, 2020 -
Chase raises Sapphire Reserve annual fee to $550, adds Lyft, DoorDash perks
The changes bring the card closer to its competitor, American Express Platinum, which already charges a $550 annual fee and gives certain dining and ride-share credits.
By Anna Hrushka • Jan. 08, 2020 -
Mastercard adds brand melody to original pop song
The full-length single, which debuted Wednesday during a performance at the Consumer Electronics Show in Las Vegas, will appear on a "Priceless" album slated for release this year.
By Dianna Christie • Jan. 08, 2020 -
Visa, Mastercard hold fast to gas stations' chip-card deadline
Fuel retailers were given an extra five years to upgrade to EMV technology, but 70% of convenience store owners in a survey said they still haven't done so.
By Dan Ennis • Jan. 08, 2020 -
Banks to tighten third-party data access in 2020, experts say
Following recent moves by PNC and JPMorgan Chase, expect to see a "snowball effect" as financial institutions aim to boost security and control of personal information.
By Anna Hrushka • Jan. 07, 2020 -
Federal Reserve probes disruption of ACH payment network
It remains unclear how many banks were affected by processing delays over two days in mid-December. The cause was not immediately apparent.
By Dan Ennis • Dec. 20, 2019 -
Green Dot CEO Steve Streit stepping down Dec. 31 amid C-suite shakeup
The share price at the legacy prepaid-card company has plummeted 60% since May, but the longtime leader expressed a reluctance to let go at a panel discussion this fall.
By Dan Ennis • Dec. 19, 2019 -
PNC directs customers to Zelle after security upgrade blocks Venmo
Although many banks and fintechs have found ways to work together, the Venmo-PNC tiff is an example of how access to customers' financial data can become a point of friction.
By Anna Hrushka • Dec. 16, 2019 -
PayPal sues CFPB, saying prepaid rule sows confusion
The rule lumps digital wallets under the same umbrella as reloadable cards and forces customers to receive a fee disclosure that may ultimately slow PayPal's growth, the P2P company says.
By Dan Ennis • Dec. 13, 2019 -
JPMorgan blockchain network may draw more than 80 Japanese banks
The U.S.'s largest bank had said it wanted the platform to accrue 400 members by year's end.
By Dan Ennis • Dec. 10, 2019 -
Dive Awards
Disruption of the Year: P2P payments
Fintechs have revolutionized the peer-to-peer landscape, causing banks to reevaluate their existing payment systems.
By Anna Hrushka • Dec. 09, 2019 -
Dive Awards
Company of the Year: Mastercard
The world's second-leading payment network is pivoting away from its five-decade bread and butter — and showing its future lies not in cards but in partnerships.
By Dan Ennis • Dec. 09, 2019 -
Dive Awards
The Banking Dive Awards for 2019
From Jamie Dimon to Mastercard, these are the companies and executives that shaped banking this year.
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Banks eye a bigger helping of holiday retail point-of-sale pie
Citi, JPMorgan Chase and Mastercard have expanded their loan options this year to fend off upstarts and entice interest-averse buyers.
By Hillary Richard • Dec. 03, 2019 -
OpinionThink globally: 4 tips for payment success
Keeping up with innovation and limiting cross-border friction can be crucial to growth, writes BlueSnap CEO Ralph Dangelmaier.
By Ralph Dangelmaier • Dec. 02, 2019 -
Lawmaker pushes Wells Fargo to refund 'deceptively collected' fees
Customers with the bank's most popular checking accounts could avoid a $10 monthly charge if they make 10 transactions a month. But they weren't told that ATM withdrawals did not count toward that threshold.
By Dan Ennis • Nov. 25, 2019 -
Deep DiveIn fintech partnerships, should banks' brands be out front or in background?
Banks that stay behind the scenes risk being relegated to a commodity. But fintechs that take the lead may be looking for something more.
By Anna Hrushka • Nov. 22, 2019 -
Wells Fargo rolls out real-time payments for corporate customers
The U.S. has been slow to adopt real-time payments in comparison to countries such as the U.K., India and Mexico. The Clearing House wants banks nationwide to adopt its RTP network by next year.
By Dan Ennis • Nov. 20, 2019 -
American Express offers merchants up to $450K sign-on bonus to boost acceptance
Businesses often cite AmEx's higher interchange fee as a reason to stick with Mastercard and Visa, but the company is on a years-long mission to catch up with other payment networks by the end of the year.
By Dan Ennis • Nov. 19, 2019 -
Amazon abandons plan for checking accounts
The tech giant told JPMorgan Chase, one of its potential partners in the initiative, it was concerned it would be subject to banking regulations, according to a report from The Information.
By Dan Ennis • Nov. 18, 2019 -
Google to launch Citi-backed checking accounts next year
The partnership could help the nation's third-largest bank bring in more customers without expanding its branch presence, but it comes at a tumultuous time for payment efforts by tech companies.
By Dan Ennis • Nov. 13, 2019
