Mastercard, Visa revealed as investors in fintech Plaid

The move shows the willingness of traditional payment leaders to embrace disruption in the market.

By Dan Ennis • Sept. 16, 2019

Square's city tax lawsuit is rooted in its status as 'fin' or 'tech'

The company alleges it was overtaxed because San Francisco classified it as a financial services company rather than an information business. Square has twice filed applications to open a bank.

By Dan Ennis • Sept. 13, 2019

Explore the 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

Candidate O'Rourke urges banks to curb gun financing in Twitter post

A growing number of banks are using lending to encourage and promote social and environmental causes.

By Dan Ennis • Sept. 12, 2019

Mastercard eyes faster cross-border payments with blockchain deal

B2B cross-border payments accounted for $125 trillion in revenues in 2017, and fintechs are prompting the dominant SWIFT network to hastily adapt to the market.

By Dan Ennis • Sept. 12, 2019

Stripe rolls out credit card for corporate clients

The launch comes just a week after the company announced it would offer lending through Stripe Capital.

By Anna Hrushka • Sept. 11, 2019

Couple spends errant BB&T windfall, gets $107K overdraft fee and theft charges

Over three weeks in early June, two Pennsylvania residents bought a camper, a car trailer and a race car, put a down payment on an SUV, paid bills and gave $15,000 to friends who said they needed it.

By Dan Ennis • Sept. 10, 2019

JPMorgan Chase's WePay launches same-day deposits

The free service gives Chase an edge on fintech competitors such as Stripe and Square, which both charge fees for faster processing.

By Anna Hrushka • Sept. 10, 2019

Chime's SpotMe covers banking customers who overdraw up to $100

Users can sign up for the program if their Chime direct deposits total $500 or more per month. But the negative balance the bank will cover depends on a user's account history.

By Dan Ennis • Sept. 9, 2019

Boxer Manny Pacquiao launches personalized crypto token

Singapore's Global Crypto Offering Exchange looks to get fans of several celebs to invest and trade coins for exclusive merchandise, but the intersection of pop culture and digital currency has cautionary tales.

By Dan Ennis • Sept. 3, 2019

PNC launches on Ripple’s cross-border payments network

While Ripple already has a global portfolio of banks using the RippleNet network, the launch with PNC Bank marks a significant milestone for the cryptocurrency company.

By Anna Hrushka • Sept. 3, 2019

4 in 5 Americans have smartphones; why are less than half on mobile pay?

Consumers aren't the only slow adapters in the U.S. About 36% of retailers said they accept mobile wallet payments, according to a JPMorgan study.

By Dan Ennis • Aug. 30, 2019

Varo to let some banking customers go $50 into the red

Customers must make at least five debit card purchases a month and set up direct deposits of $1,000 a month. 

By Dan Ennis • Aug. 27, 2019

Waters, House Dems press CFPB to drop payday rule revamp

"The Consumer Bureau's proposal represents a betrayal of its statutory purpose and objectives to put consumers, rather than lenders, first," lawmakers wrote Friday in a letter.

By Dan Ennis • Aug. 26, 2019

More than half of credit-card users don't understand their benefits

Regional issuers such as BB&T and PNC Bank outpaced national brands such as Capital One and Chase in a J.D. Power credit-card customer satisfaction study released Thursday.

By Dan Ennis • Aug. 23, 2019

JPMorgan to shutter stand-alone Chase Pay app

The platform will still be available through merchants' websites and apps, but the reversal illustrates the bank's pattern of quickly scrapping its initiatives.

By Dan Ennis • Aug. 22, 2019

HSBC hires flash mobs to hype tap-and-go tech

The bank is using New York's new cardless subway network to boost awareness that all of its cards are contactless. Other banks are moving quickly to adapt.

By Dan Ennis • Aug. 21, 2019

Apple rolls out Goldman-backed card as Mastercard touts security

Customers can opt for a tokenized version of the card that won't display a 16-digit number on the front, making for a safer user experience, a Mastercard executive said.

By Dan Ennis • Updated Aug. 22, 2019

Continued stall on payday rule is 'inexcusable,' advocates tell CFPB

Four groups accused the bureau of "abandoning its consumer-protection mission" when it failed to ask a court to lift its stay on a rule limiting how often payday lenders can access borrowers' accounts.

By Dan Ennis • Aug. 13, 2019

Venmo adds instant bank transfer feature

In the coming weeks, users will be able to transfer funds to their bank accounts within minutes for a 1% fee.

By Anna Hrushka • Aug. 13, 2019

Puerto Rico insurer sues 5 US SIFIs for $720M in debt defaults

Subsidiaries of JPMorgan Chase, Citigroup, Goldman Sachs, Morgan Stanley and Bank of America are named in a lawsuit insurer MBIA Inc. filed in San Juan's Superior Court. 

By Dan Ennis • Aug. 9, 2019

Lenders shift focus as payday loans reach 13-year low in California

The state is trying to clamp down on a category of slightly larger, less-regulated loans to which lenders are migrating. Meanwhile, government data shows the industry's reliance on repeat and low-income customers.

By Dan Ennis • Aug. 9, 2019

11 states look into the divide among payroll advance companies

At issue is the way payroll advance companies offer their services. Although some offer already-earned wages through a user's employer, another goes directly to the user — for a voluntary "tip" that may come with a big catch. 

By Dan Ennis • Aug. 8, 2019

How a Silicon Valley startup is using open banking to fight false declines

Incorrectly flagged or canceled transactions cost the market 10 times the amount credit card fraud does, the CEO of Deep Labs said, citing an Aite Group study.

By Anna Hrushka • Aug. 6, 2019

Fed commits to real-time payments system by 2024

The central bank looks to bring faster transactions to community bank customers and act as a safeguard in a marketplace already served by The Clearing House.

By Dan Ennis • Aug. 6, 2019

Walmart may tap unbanked market with cryptocurrency plan

The retailer filed a patent to develop a cryptocurrency as an end-run around credit card transaction fees.

By Dan Ennis • Aug. 5, 2019