Payments: Page 2


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    Stripe agrees to buy Indian software company Recko

    The acquisition — the financial details of which are not disclosed — is expected to allow the fintech to give its business clients more accounting capabilities.

    By Lynne Marek • Oct. 20, 2021
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    Cross-border payments competition heats up

    Three bank-backed payments companies are attempting to increase the speed of cross-border payments, jumping into an arena teeming with fintech rivals.

    By Lynne Marek • Oct. 14, 2021
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    Trendline

    Fintech disruption in the banking industry

    There are as many schools of thought on how to disrupt the banking space as there are disruptors.

    By Banking Dive staff
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    Courtesy of Google

    British payments firm SumUp pushes into US with $317M deal

    The company's purchase of San Francisco-based Fivestars will help it scale "dramatically" in a market dominated by the likes of Square and PayPal, a spokesperson said.

    By Lynne Marek • Oct. 14, 2021
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    Fed won't go it alone on CBDC

    The central bank will work with Congress and the Biden administration on any digital currency development, Chair Jerome Powell emphasized Wednesday.

    By Lynne Marek • Sept. 23, 2021
  • Longtime Mastercard executive Banga to retire at year's end

    Banga's upcoming exit was part of a "planned board leadership transition" initiated last February, the company said, though the timing of his retirement had not been previously announced.

    By Lynne Marek • Sept. 21, 2021
  • Business failure helped Chime CFO build resilience

    Having a business that didn't succeed past its venture stage gave Matt Newcomb a big-picture view that informs his strategic mindset at the fast-growing fintech.

    By Robert Freedman • Sept. 15, 2021
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    Anna Hrushka/Banking Dive

    How BankMobile pivoted its business model in the face of competition

    "Our pillar of being able to have a profitable, sustainable model — and as fast as possible — wasn't happening," CEO Luvleen Sidhu said. "It's challenging when you have other challenger banks spending half a billion dollars on marketing."

    By Sept. 15, 2021
  • Capital One beta-tests BNPL option, marking turnabout

    The McLean, Virginia-based bank barred customers last December from using its credit cards to clear buy-now-pay-later debt.

    By Sept. 14, 2021
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    Chris Hondros via Getty Images

    JPMorgan Chase to acquire company behind Zagat guidebook

    Barred by regulators from buying another deposit-taking institution, the nation's largest bank looked to an adjacent arena to expand culinary perks for its credit-card holders.

    By Sept. 10, 2021
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    JPMorgan to buy majority stake in Volkswagen's payments business

    The deal is the latest in a series of investments the bank has made in the past year, following CEO Jamie Dimon's 2020 promise that it would be "much more aggressive with acquisitions across the board."

    By Sept. 8, 2021
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    Acquisitions heat up amid competition for small-business payments clients

    Some companies are buying up businesses that will help them cater to small and midsize clients, while others are getting out of the arena.

    By Lynne Marek • Sept. 2, 2021
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    Anna Hrushka/Banking Dive

    Fed finds businesses eager for faster payments

    About 90% of the 2,010 U.S. businesses in a survey published by the Federal Reserve expect to use faster payments in their operations by 2023, when FedNow is slated for launch. But many are ready for that upgrade now.

    By Lynne Marek • Sept. 2, 2021
  • Robinhood developing early direct deposit access, app code shows

    Similar features have gained traction at challenger banks and incumbents as an alternative to overdraft fees. The trading app is looking to broaden its revenue stream beyond trading.

    By Sept. 2, 2021
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    Courtesy of Gibson

    Fintech veteran gears neobank toward musicians

    Kasasa executive John Waupsh decided to launch Nerve after noticing musicians, struggling to access business accounts, often rely on personal checking accounts for business deposits and expenses.

    By Aug. 25, 2021
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    LaylaBird via iStock

    Fiserv strikes up a bevy of new partnerships

    The payments processor has fresh ties to MovoCash, Selecta Group and Venmo that will allow it to keep expanding its digital payment services.

    By Lynne Marek • Aug. 24, 2021
  • Wells Fargo reverses course on personal lines of credit

    The lender's July decision to close existing lines generated outcry from customers whose credit could be hurt by the move. Borrowers who haven't used PLOCs in 12 months have until Dec. 2 to activate their lines.

    By Aug. 19, 2021
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    Courtesy of CashApp - Square

    How Square's Afterpay deal plays into its SMB, consumer banking goals

    The $29 billion deal will bring the Australian firm's point-of-sale financing technology and large merchant portfolio under Square's umbrella, further enabling the fintech to continue its push into banking services.

    By Aug. 18, 2021
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    Courtesy of Wells Fargo multimedia resources

    Wells Fargo combines treasury management, payment units

    The bank is also hiring a BNY Mellon executive to oversee the combined business.

    By Aug. 18, 2021
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    Walmart, NYCB show 2 ways to angle for blockchain expertise

    The retailer posted a job description for a crypto product lead, while New York Community Bank partnered with fintech Figure.

    By Aug. 17, 2021
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    Zelle owner doubles down on marketing, targets older group

    The digital payment network's owner, Early Warning Services, is trying to break through post-COVID competition for consumers' attention by demonstrating new use cases for the American family.

    By Lynne Marek • Aug. 16, 2021
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    Big bank, merchant groups weigh in on Fed rule clarification

    Bank and merchant trade groups weighed in on the Fed's debit rule clarification at the 11th hour, digging in their heels in a long-time battle over whether to ease merchant access to increased debit transaction networks.

    By Lynne Marek • Aug. 12, 2021
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    Revolut readies for US growth with marketing push, product expansions

    Since launching quietly stateside last year, the fintech has rolled out a small-business banking product, applied for a bank charter, and has begun offering remittances between the U.S. and Mexico.

    By Aug. 11, 2021
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    Maddie Meyer via Getty Images

    Sable taps Wise for cross-border payments

    The companies are teaming up on a new tool aimed at simplifying cross-border payments for expatriates and international students, among others.

    By Lynne Marek • Aug. 6, 2021
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    Dan Kitwood via Getty Images

    Neobank MovoCash launches real-time cryptocurrency conversion

    The fintech, which launched in 2017, introduced a feature that allows users to rapidly convert 10 cryptocurrencies — including Bitcoin and Ethereum — into fiat money. 

    By Aug. 4, 2021
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    Square buys BNPL player Afterpay for $29B

    The acquisition of the Australian company is Square's biggest ever, and underscores CEO Jack Dorsey's ambitious plans to build his merchant and banking empire in new retail directions and across the globe.

    By Lynne Marek • Aug. 2, 2021