Payments: Page 30
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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. 7, 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 -
Explore the Trendline➔
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TrendlineThe Banking Dive Outlook on 2022
Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.
By Banking Dive staff -
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 -
Jeff Swensen via Getty Images
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. 9, 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. 9, 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.
Dec. 9, 2019 -
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. 3, 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. 2, 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 Dive
In 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 -
Facebook Pay launches on Facebook and Messenger
The social network's new service promises to unify the company's payments capabilities through its suite of platforms.
By Anna Hrushka • Nov. 13, 2019 -
Apple Card under investigation for alleged gender discrimination
Customers, such as software developer David Heinemeier Hansson, took to Twitter to complain the credit line offered by his Apple Card was 20 times higher than what was offered to his spouse.
By Anna Hrushka • Nov. 11, 2019 -
Mobile banking finds its 'half' life
About 50% of consumers are using in-app digital wallets, and more than 60% of online transactions are made using a smartphone, two studies show.
By Dan Ennis • Nov. 8, 2019 -
JPMorgan Chase targets gig economy tech firms with e-wallet platform
As tech companies encroach on the payments space, the nation's largest bank is ceding some control over a $109 billion slice of its business in the hope of striking up more partnerships.
By Dan Ennis • Nov. 7, 2019 -
UK fintechs GoCardless, TransferWise launch cross-border recurring payment network
"There’s a ton of pain in cross-border payments," Pranav Sood, GoCardless’s vice president of international expansion, told Banking Dive. "Businesses feel inhibited by fragmented rules and regulations" in various countries.
By Dan Ennis • Nov. 6, 2019 -
Sallie Mae expands into cards amid dearth of competition for student credit
Most major banks stopped targeting college campuses after the 2009 CARD Act. That gives the student lender fewer rivals in a market where its name is already known.
By Hillary Richard • Nov. 1, 2019 -
Green Dot, Walmart renew prepaid card deal, launch fintech accelerator
The agreement ensures Green Dot will remain the issuing bank behind MoneyCard through 2027. About 35% of the fintech's second-quarter revenue came from sales at the retail giant's stores.
By Dan Ennis • Oct. 30, 2019 -
Venmo kicks off rewards program with offers at Target, Sephora
The move comes as the peer-to-peer payments platform prepares to launch a credit card next year.
By Tatiana Walk-Morris • Oct. 30, 2019
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