Payments: Page 4
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X plans payments launch for this year
“I would be surprised if it takes longer than the middle of [2024] to roll out payments,” X owner Elon Musk said during a conversation last month with Ark Invest CEO Cathie Wood.
By James Pothen • Jan. 10, 2024 -
Remitly taps ads to woo new clients
The cross-border payments company has boosted marketing to build up its remittance clientele.
By Lynne Marek • Jan. 10, 2024 -
Trendline
Fraud and AML in banking
It’s not just big banks like Citi and TD that face stiffer AML oversight from regulators. The FDIC is looking closely at banks offering BaaS alongside fintechs.
By Banking Dive staff -
Q&A
Visa leans on fintech partners
Teaming with emerging fintechs is “a way of staying very, very relevant,” said Jim Schinella, Visa’s global head of digital partnerships.
By Caitlin Mullen • Dec. 20, 2023 -
U.S. Bank fined $36M over freezes of COVID-era unemployment benefits
The Minneapolis-based lender flagged a CFPB probe into prepaid card use last year. The OCC added a separate penalty Tuesday.
By Dan Ennis • Dec. 20, 2023 -
Don’t know what a digital wallet is? We’ve got you covered.
This primer fills in the gaps on how digital wallets work, what companies compete to provide such payment tools and what to expect from them in the future.
By James Pothen • Dec. 20, 2023 -
FTX files plan to end its expensive bankruptcy
The plan values assets at their Nov. 11, 2022, rate, which is much lower than their value today. Bitcoin, for example, has more than doubled in price since then.
By Gabrielle Saulsbery • Dec. 19, 2023 -
Profile
Simon Khalaf channels energy into scaling Marqeta
The Marqeta CEO is tasked with taking the card-issuing fintech to the next level amid increased competition and an uncertain economic climate.
By Caitlin Mullen • Dec. 18, 2023 -
Fraud emerges as concern for FedNow users
The Federal Reserve is weighing additional fraud-fighting tools as it takes feedback from users of the new instant payments system.
By Lynne Marek • Dec. 15, 2023 -
Google Pay taps Affirm, Zip for BNPL
The tech giant has linked with the buy now, pay later companies to develop installment payment options to be offered next year.
By Caitlin Mullen • Dec. 13, 2023 -
FedNow may have spurred RTP adoption
The number of banks participating in The Clearing House’s real-time payments network surged this year after the launch of the rival FedNow system.
By Lynne Marek • Dec. 13, 2023 -
The Clearing House revamps leadership
Since his arrival in February, CEO David Watson has been remaking The Clearing House’s executive suite, with another appointment this week.
By Lynne Marek • Dec. 12, 2023 -
TD exec tapped as Discover’s next CEO
Michael G. Rhodes, previously the group head for Canadian personal banking at TD, will take the helm at Discover in March.
By Caitlin Mullen • Dec. 12, 2023 -
Discover to spend at least $500M on compliance next year
“We’re going to continue to invest whatever we have to invest in order to get the compliance issues behind us,” CFO John Greene said last week.
By Caitlin Mullen • Dec. 11, 2023 -
Amex CEO weighs in on Apple card reports
The card issuer’s premium designation isn’t compatible with all potential card issuing partners, Amex CEO Steve Squeri said Tuesday.
By Caitlin Mullen • Dec. 6, 2023 -
BNPL growth decelerates: Bank of America
The growth rate in the number of shoppers downloading buy now, pay later apps shrunk for this year's Thanksgiving shopping weekend compared to 2022.
By Tatiana Walk-Morris • Dec. 5, 2023 -
UK fintech Banked builds a US presence
The company expects its pay-by-bank services for bank clients will eventually lure retailers.
By Lynne Marek • Dec. 4, 2023 -
Who wants Apple’s credit card? Analysts weigh in.
Synchrony, American Express and Capital One have all been floated by analysts as potential successors to Goldman Sachs for Apple’s credit card.
By James Pothen • Dec. 1, 2023 -
SoFi exits crypto business
SoFi customers can liquidate their accounts, or choose to be migrated to Blockchain.com. If they do nothing, SoFi will liquidate the assets for them, to be transferred to their brokerage accounts.
By Gabrielle Saulsbery • Nov. 29, 2023 -
PayPal tackles chargeback fraud
PayPal is attacking illegitimate customer returns with new policies after a rise in e-commerce activity has fueled that type of fraud across the industry.
By Lynne Marek • Nov. 29, 2023 -
BNPL bolsters holiday weekend spending
The Black Friday through Cyber Monday shopping weekend was a boon for BNPL providers and payments companies such as Stripe and Square.
By Caitlin Mullen • Nov. 29, 2023 -
JPMorgan pushes up UK digital bank’s break-even timeline
The bank now expects its U.K. operation Chase to cross into the black in 12 to 18 months, at least two years ahead of a previous estimate, JPMorgan President Daniel Pinto said Tuesday.
By Dan Ennis • Nov. 29, 2023 -
JPMorgan Chase credit card snafu trips up Black Friday shoppers
The biggest bank in the U.S. erroneously declined some credit card users’ purchases on the busiest shopping day of the year, a day when HSBC also experienced an outage.
By Lynne Marek • Nov. 28, 2023 -
Plaid poaches Adyen executive for European expansion
Brian Dammeir sees opportunities for Plaid’s payments business to grow in Europe, particularly in account-to-account payments, he said in a Wednesday interview.
By James Pothen • Nov. 22, 2023 -
Binance names new CEO after taking $4.3B in penalties
“I made mistakes, and I must take responsibility," the crypto exchange's founder Changpeng Zhao tweeted. "This is best for our community, for Binance, and for myself."
By Gabrielle Saulsbery • Nov. 22, 2023 -
Binance CEO to step down: reports
Changpeng Zhao, the founder and CEO of the world's largest crypto exchange, will step down and plead guilty to AML charges, Forbes and WSJ reported.
By Gabrielle Saulsbery • Nov. 21, 2023