The Latest
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Bill CEO defends performance
The payments fintech has “massive” growth potential, says its founder. Two activist investors are likely to demand pursuing that aggressively.
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Courtesy of Maverik
Maverik expands cardless payment options
The retailer’s partnership with Piston lets professional drivers initiate a fuel payment via QR or authorization codes.
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Fed lifts FedNow limit to $10M
As financial firms flock to instant payments, the Federal Reserve has pitched FedNow as a way to ease internal transfers, corporate payroll and big transactions.
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Alamy
Visa, Mastercard push more tokenization
The card network giants want more merchants and consumers using cards with security tokens to increase transaction volume and to reduce fraud.
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Courtesy of Klarna Group
Klarna counts on retailers for growth
As Klarna becomes publicly traded, the BNPL giant says the availability of its services at retailers such as Walmart and Macy’s correlates strongly to future growth.
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Stablecoin advances crypto adoption
Once large banks and big payments companies “start leaning in, then obviously that gets the flywheel going,” says Taxbit CEO Lindsey Argalas.
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Corpay mulls asset sales
The fleet payments company may sell its third-largest payments segment, and it’s already put two non-core vehicle businesses on the sales block.
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Activist investor targets Bill
Bill Holdings’ weak revenue growth and sagging stock attracted a prominent hedge fund to buy a large stake in the payments and accounting software firm.
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Retrieved from Couche-Tard.
Circle K grows fleet payment options
Alimentation Couche-Tard is partnering with Relay to add more than 500 truck-accessible locations to the fintech company’s network.
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Great Hill raises $7B fund
The venture capital firm, which has a niche for investing in payments businesses, plans to keep injecting capital into the financial services sector.
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ColumnOpen banking looks better with crypto
After fintechs and crypto bros showed how banks might fetter digital assets, the Consumer Financial Protection Bureau revamped its views of open banking.
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Fiserv buys CardFree for hospitality expansion
The company said it acquired the California startup that focuses on restaurant and hotel payment systems to expand its Clover point-of-sale business.
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OpinionEarned wage access should be free
“This industry simply cannot continue to charge employees to access their pay,” writes a fintech founder. “We cannot expect employers to deduct these fees from paychecks through payroll.”
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Chase flags end of gov’t checks
The JPMorgan bank says it’s striving to make branch customers aware of the federal government’s plan to stop sending paper checks next month. Some consumer advocates are still worried.
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Q2 credit card charge-offs fell
Increased consumer incomes led to a drop in net charge-offs and delinquency rates for U.S. bank credit cards in the second quarter, a new report says.
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Local governments press online payments
To avoid paper checks, cities and counties are pushing residents to use online card and ACH payments, according to industry executives.
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Alamy
How Nokia, AT&T fight mobile fraud
Telecom companies are stepping up their efforts to help financial institutions and payments players reduce phone-related fraud.
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Visa ramps new fraud prevention program
The card giant has merged its fraud prevention and dispute management programs, forcing merchants and their bank card processors to take more responsibility for thwarting misconduct.
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Klarna to raise as much as $1.27B
The buy now, pay later behemoth is ready to proceed with its public stock offering after it first filed for an initial public offering in March.
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Alamy
Square unveils new product roadmap
Block’s point-of-sale unit offered a public glimpse of new features from its product schedule last week, with a request for customer feedback.
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AGs attack deepfake porn payments
Apple, Visa and others must be “more aggressive” in banning payment authorization for nonconsensual content, state AGs told the companies.
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Innovative Systems acquired by investment firm
The South Dakota billing and payments software company was purchased by the Chicago private equity firm GTCR.
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Retrieved from Walmart.
EWA players seek federal oversight
A trade group representing earned wage access providers backs introduction of a bill outlining federal oversight for the emerging industry.
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BNPL firms urge HUD to skip new rules
Regulators need greater insight into the impacts of buy now, pay later lending, multiple groups said in their comments to U.S. housing officials.
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CFPB proposes trimming nonbank purview
A CFPB rule proposed Tuesday would restrict the bureau’s ability to supervise nonbanks. The agency said it aims to adopt a binding, standardized definition of “risks to consumers” that would make enforcement consistent.
