Payments: Page 2

  • A plastic-gloved hand gives a $100 bill to another hand.
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    Mario Tama via Getty Images

    Paymentus to accept payments via Green Dot Network

    Paymentus is tapping Green Dot’s network to extend the number of locations where it accepts cash bill payments from consumers.

    By Tatiana Walk-Morris • Jan. 23, 2023
  • Wells Fargo branch exterior
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    Courtesy of Wells Fargo multimedia resources

    Big banks to launch digital wallet operated by Zelle parent: report

    The wallet, which is expected to launch in the second half of the year, aims to compete with PayPal and Apple, sources told The Wall Street Journal. But serious competition may take a while, an analyst said.

    By Jan. 23, 2023
  • Trendline

    Fraud and AML in banking

    Crypto platforms, Zelle and COVID-era government relief programs continue to serve as flashpoints in the discussion around fraud. Fortunately, it appears banks are listening to concerns.

    By Banking Dive staff
  • Office workstation top view of business people working around M&A, keyboard, calculator, phablet and money on wooden table
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    Atstock Productions via Getty Images

    Fintech wreckage spells opportunity for bargain-hunting banks

    Following a challenging year for the fintech sector, enterprising banks may be able to acquire startups whose previous valuations put them out of reach in prior years, said Klaros Group’s Jonah Crane.

    By Jan. 18, 2023
  • Max Levchin is the ceo of Affirm
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    Drew Angerer/Getty via Getty Images

    Affirm users jolted by multiple charges

    The buy now, pay later provider said it encountered a “technical issue” that has now been resolved, with user transactions to be corrected at banks within a week.

    By Lynne Marek • Jan. 13, 2023
  • PayPal CEO Dan Schulman sitting and gesturing with his hand.
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    Eugene Gologursky via Getty Images

    Will PayPal get a new CEO?

    CEO Dan Schulman faces speculation about his exit. “We think he could move on from PayPal, legacy intact,” one analyst team wrote.

    By Lynne Marek • Jan. 9, 2023
  • Office workstation top view of business people working around M&A, keyboard, calculator, phablet and money on wooden table
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    Atstock Productions via Getty Images

    Payments deals may climb in 2023

    While the number of deals in the payments industry declined 14% last year, and even more by value, there are reasons to believe 2023 will be more active.

    By Lynne Marek • Jan. 4, 2023
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    Just_Super via Getty Images

    2 FTX executives plead guilty; Ellison faces 110 years in prison

    The SEC announced separate charges Wednesday, accusing both executives of defrauding investors.

    By Dec. 22, 2022
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    Jack Taylor / Stringer via Getty Images

    Toomey bill would put stablecoin oversight in OCC’s hands

    The outgoing senator said he wanted to shield stablecoin activity from the Fed, which is still debating whether to issue a central bank digital currency. Toomey noted the Fed’s “significant skepticism” of stablecoins.

    By Dec. 22, 2022
  • Officials and employees celebrate the grand opening of Fiserv's Berkeley Heights, New Jersey office on Nov. 15.
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    Permission granted by Fiserv
    Deep Dive

    Investors press FIS, Fiserv for divestitures

    The big processors mushroomed in 2019 acquisitions, with promises that scale would pay off, but shareholders now urge them to consider divestitures.

    By Lynne Marek , Caitlin Mullen • Dec. 22, 2022
  • Fiserv headquarters in Brookfield, Wisconsin
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    Google Maps

    Fiserv hired ‘thousands’ of workers this year, CEO says

    Even as the payments and fintech company cut employees this year, it hired “thousands” of workers, Fiserv CEO Frank Bisignano said in an interview. 

    By Caitlin Mullen • Dec. 19, 2022
  • A sign with the 'Citi' logo
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    Mario Tama via Getty Images

    Citi settles with Revlon creditors over $500M piece of payments blunder

    The legal action ends a two-year battle over $900 million the bank wired to creditors years ahead of schedule. But fallout from the error remains, in the form of regulatory legwork.

    By Dec. 19, 2022
  • A woman of color and a man of color shake hands
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    Photo by Pavel Danilyuk on Pexels

    Wise, VizyPay target US hiring

    Some payments companies have plans for extensive hiring next year, despite the economic headwinds that led other players to contract this year.

    By Lynne Marek • Dec. 19, 2022
  • Chime made two offers up to $2B to buy DailyPay: report

    DailyPay, which was founded in 2015 by Jason Lee, may be content to wait for a better offer, or perhaps lean on its track record of successful fundraising going forward.

    By Dec. 16, 2022
  • CFPB Director Rohit Chopra speaks in front of the House Financial Services Committee.
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    Anna Moneymaker via Getty Images

    CFPB to face reckoning in next Congress, Republicans warn Chopra

    “Next month there will be a new majority in the House of Representatives. I think you'll wish you tried harder to play by the rules,” Rep. Patrick McHenry, R-NC, told the CFPB director.

    By Dec. 15, 2022
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    Permission granted by Current

    How Current pivoted to free

    "We had a lever that other people didn't have, which was we can actually cut costs sufficiently that we don't need to fill that hole with a subscription fee,” said Trevor Marshall, the company's CTO.

    By Dec. 14, 2022
  • Discover Financial CEO Roger Hochschild
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    Retrieved from Discover Spokesman Robert Weiss on December 14, 2021

    Discover pulls back on checking account over fraud concerns

    The card company expects to resume taking applications early next year for the product, which offers cash-back and debit features, CEO Roger Hochschild said this week.

    By Caitlin Mullen • Dec. 8, 2022
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    Dan Kitwood/Getty Images News via Getty Images

    BlockFi files for bankruptcy amid FTX contagion

    The crypto lender has initiated a cost-cutting plan that involves “major layoffs,” according to Decrypt. Monday’s announcement follows earlier rumors that the company had been mulling bankruptcy.

    By Nov. 28, 2022
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    Justin Sullivan / Staff via Getty Images

    Banks discuss refund rule for Zelle customer fraud: report

    Under measures being discussed, banks would share liability inside Zelle’s system and guarantee to reimburse one another, sources told The Wall Street Journal.

    By Nov. 28, 2022
  • View of PayPal logo outside of company headquarters
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    Justin Sullivan via Getty Images

    PayPal counts on its digital app for gains

    The digital payments pioneer is scouting for new ways to increase customer use of its digital wallet, including plans to add a new Venmo teen account.

    By Lynne Marek • Nov. 28, 2022
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    sefa ozel via Getty Images

    Regulatory challenges more prominent in eyes of fintech industry leaders this year

    Private firms are adopting a more defensive posture, delaying new funding rounds, planning for modest growth and addressing regulatory risks, according to a report.

    By Nov. 23, 2022
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    Spencer Platt via Getty Images

    JPMorgan’s crypto wallet trademark is approved

    The green light comes more than two years after the bank submitted paperwork to the U.S. Patent and Trademark Office, and runs counter to CEO Jamie Dimon’s opinion on virtual currencies.

    By Nov. 22, 2022
  • Close shot of the U.S. Capitol dome against the bright blue sky.
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    Brendan Hoffman via Getty Images

    Can Congress come together on crypto?

    Perhaps even a divided Congress can make bipartisan headway in crafting a regulatory framework for crypto following FTX’s failure.

    By Lynne Marek • Nov. 18, 2022
  • Ryan McInerney with arms folded
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    Permission granted by Andy Gerit

    Visa names its next CEO

    The card network’s president, Ryan McInerney, a former consumer-banking chief at JPMorgan Chase, will succeed Al Kelly on Feb. 1.

    By Lynne Marek • Nov. 18, 2022
  • bear market illustration for crypto winter
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    Nuthawut Somsuk via Getty Images

    Cryptexodus: A running list of crypto execs who’ve quit since May

    The crypto market has been volatile since spring. While some executives have run for the hills, others have opted to transition to back-seat roles.

    By Nov. 14, 2022
  • sam bankman-fried
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    Alex Wong via Getty Images

    Sam Bankman-Fried steps down as FTX CEO amid bankruptcy filing’s assets were frozen in the Bahamas, where the company is headquartered. Crypto lender BlockFi also paused withdrawals because of its exposure to FTX.

    By Nov. 11, 2022