The Latest
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Lynne Marek/Payments Dive
Waller floats ‘skinny’ Fed account
Federal Reserve Gov. Christopher Waller proposed the central bank’s staff explore creating a limited payments account that might be suited to fintechs.
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Stablecoin risks abound: Barr
To make stablecoins viable, regulators implementing the Genius Act must impose protective guardrails, Federal Reserve Gov. Michael Barr told a fintech conference.
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Permission granted by Fiserv
Fiserv, Block turn to crypto
Settling transactions with digital currencies could save processors and merchants money on payments by cutting out bank and card network fees.
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US payments systems mushroom
The Clearing House, Nacha and FedNow all marked expansions for their payments systems over the past month.
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Amex downplays shutdown impact
The card network’s premium customers are still spending, even as the economy faces persistent inflation and a government shutdown, company executives said in an earnings call.
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Stablecoins may reshape payments
CFOs need to turn stablecoin “a little on its head” to get a transparent view of where the assets can sit inside their organizations, EY’s Clare Adelgren said.
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Bill to cut workforce by 6%
The bill payments company is cutting about 140 jobs as it comes under pressure from activist investors, including Starboard Value.
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Andrey Popov via Getty Images
Airwallex plots bigger US presence
The payments platform will use its recent acquisition of U.S. startup OpenPay to build out a billing platform in the Americas.
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Fed to boost payments services’ days of operation
The Federal Reserve plans to have the Fedwire Funds Service and the National Settlement Service operate on Sundays, but not until several years from now.
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Permission granted by Bobby Leibrock
Q&AInside Bobby Leibrock’s first 100 days at ACI
The former IBM and Red Hat executive discusses why collaboration, motivation and curiosity are the pillars of his approach to this new CFO role.
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Basis Theory raises $33M
The San Francisco-based payments infrastructure startup to pour additional capital into its agentic AI capabilities.
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Visa, Mastercard reach settlement with merchants
The card networks agreed to pay $199.5 million to settle a class action in which a pack of small merchants alleged they shouldn’t have shouldered liabilities for rejected credit card transactions.
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Crypto use trending down, says Kansas City Fed
A survey from the Federal Reserve Bank of Kansas City cast doubt on the notion that more U.S. consumers will adopt cryptocurrency for payments, even after a new law eased the path to crypto use.
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Permission granted by Office of the Comptroller of the Currency
Stripe’s Bridge applies for national trust charter
The stablecoin infrastructure firm joins a growing list of crypto-native firms, including Coinbase and Circle, that have applied for an OCC charter this year.
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Justin Sullivan / Staff via Getty Images
Visa’s revised card fee system may jolt merchants
The card network giant will begin demanding more data from merchants this week in exchange for discounts, but it may come as a shock to some.
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Courtesy of Affirm
Affirm to offer interest holiday
The company’s customers will have a chance to take out loans with 0% APR for three days next week as the holiday shopping season gets under way.
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Fed appeals debit fee ruling
The Federal Reserve gave notice that it’s appealing a court ruling that invalidated its regulations governing debit card fee caps.
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Andrey Popov via Getty Images
Open banking also helps banks: Fintechs
Financial technology firms are trying to rally support for U.S. open banking as regulators gather comments to inform a revised rule.
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Justin Sullivan / Staff via Getty Images
Bank of America fires up AI payments assistant
AskGPS was trained on more than 3,200 internal documents by the company’s in-house engineering team and rolled out last week.
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Chip Somodevilla via Getty Images
OpinionHow to unleash innovation and competition in payments
“Give digital payments companies a path to directly access the Federal Reserve’s systems through a limited-purpose payments bank charter,” writes one former top legal executive.
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halbergman via Getty Images
Fiserv launches Roughrider stablecoin
The processor is working with a North Dakota state-owned bank to establish a new digital asset.
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Rob Carr via Getty Images
Baltimore sues MoneyLion over lending tactics
City officials filed a lawsuit against the fintech, alleging it operates as a “modern-day payday lender,” charging customers exorbitant interest rates despite marketing its earned wage advances as “zero interest.”
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Permission granted by Renee Hill
Square stirs restaurant battle
The digital payments provider has cooked up a new set of tools for restaurant clients as the contest to attract customers heats up.
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Courtesy of Fiserv
Investors vie to lead Fiserv stock lawsuit
A federal court will assess the plaintiffs’ claims and select one to shepherd a lawsuit on behalf of other investors suing Fiserv over its stock price decline.
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Justin Sullivan via Getty Images
Volvo to test embedded car payments
A North Carolina Turnpike Authority "pay-by-car" pilot will cover tolls and may one day ease transactions at gas stations and drive-thru venues.
