The Latest
-
Permission granted by Lynne Marek
Remittance tax draws fintech pushback
The budget bill proposal moving through Congress would levy a tax on cross-border money transfers. That has prompted “strong concern” from one fintech organization.
-
Justin Sullivan via Getty Images
PayPal’s venture arm taps new leader
The digital payments company has promoted Ian Cox Moya, who rejoined the company in 2022, to head the unit that invests in startups.
-
ArLawKa AungTun via Getty Images
Global Payments to sell payroll unit for $1.1B
The payments processor agreed to sell the division to software company Acrisure as it focuses on selling merchant services.
-
Retrieved from Office of the Governor of the State of New York.
Fintech groups oppose state BNPL rules
Lobbying organizations argue that New York's rules treat buy now, pay later purchases too much like credit card transactions.
-
Kala Bartkowski via Getty Images
Credit card cap amendment stokes opposition
Industry trade groups for financial institutions have united to rail against legislation that could cap credit card interest rates.
-
Chip Somodevilla via Getty Images
CFPB to yank ‘unlawful’ open banking rule
That move bends to bank groups that filed a lawsuit last year to block the Consumer Financial Protection Bureau rule aimed at making it easier for consumers to move their financial accounts.
-
Lynne Marek/Payments Dive
Fiserv reaffirms Clover revenue goal
The company’s chief financial officer contended the point-of-sale unit will still deliver $3.5 billion in revenue this year despite a recent volume growth slowdown.
-
Funtap via Getty Images
Executive Shuffle: Fiserv, Temenos, Medius
Recent executive appointments demonstrate the importance software and financial services firms are placing on product strategy.
-
ktasimarr via Getty Images
Clair, Alternative Payments raise capital
The two B2B payments industry startups each raised just over $20 million in the past month despite a “challenging” economic climate.
-
Chip Somodevilla via Getty Images
Durbin, Marshall push credit card amendment
Sens. Roger Marshall and Dick Durbin aim to add their Credit Card Competition Act legislation to the GENIUS stablecoin bill advancing in Congress.
-
Spencer Platt via Getty Images
Cash use declines as cards rise: Atlanta Fed
Consumers keep using cash, but credit cards are king, the Federal Reserve Bank of Atlanta documented in its annual payment method survey.
-
Retrieved from Circle K.
Circle K launches fleet payment mobile app
The program, developed alongside Car IQ, is designed to help drivers avoid credit card skimmers at the pump.
-
Supatman via Getty Images
FIS quizzed on profit margins
The company’s chief financial officer was in the hot seat last week, explaining at an investor conference how he’ll bolster the bottom line.
-
Permission granted by Klarna
Klarna touts merchant growth
The buy now, pay later provider surpassed 100 million users globally this year, but also reported widening consumer credit losses for the first quarter.
-
Fly View Productions via Getty Images
Visa, Mastercard $5.5B settlement advances
Plaintiffs in the card network litigation say problematic third-party communications regarding claims has declined since a February filing deadline.
-
Justin Sullivan via Getty Images
Amex offers virtual card to small businesses
The company has long provided the service to corporate clients, but this month started letting small business owners pay suppliers who accept Amex without a physical card.
-
wwing via Getty Images
Q&APaymentus keeps the lights on
Utilities and auto loans may not be exciting, but nondiscretionary payments is a profitable business largely unaffected by downturns, CEO Dushyant Sharma says.
-
Courtesy of Mastercard
Why Mastercard invested in Corpay
The $300 million infusion in a cross-border partner creates a complementary tie, the network’s CFO said. It also comes as headwinds rise on that front.
-
Joe Raedle / Staff via Getty Images
Capital One closes Discover deal
Completion of the combination results in the richest banking deal of the past six years and creates the nation’s largest credit card issuer.
-
Leon Neal via Getty Images
Hack could cost Coinbase up to $400M
The crypto exchange is offering a $20 million reward for information leading to the hackers’ arrest. Coinbase terminated customer support agents who leaked customer data.
-
Permission granted by Wise
CFPB slashes Wise penalty
The U.S. unit of fintech Wise must pay the bureau $45,000 and roughly $450,000 in redress to affected customers – a far cry from the $2.5 million penalty issued in January.
-
pixdeluxe via Getty Images
FTA to defend open banking in court
The Financial Technology Association will seek to protect a Consumer Financial Protection Bureau open banking rule after receiving a federal judge’s permission to intervene.
-
Patrick Cooley/Payments Dive
Toast targets entertainment venues
The digital processor signed a Dallas-based chain of driving ranges as a customer in the first quarter, and has made a push to add movie theaters, bowling alleys and arcades.
-
AndreyPopov via Getty Images
OpinionLet’s scrap paper checks
If the federal government can ditch paper checks, so can the private sector, one industry CEO contends.
-
Ezra Acayan via Getty Images
Banks struggle to talk about fraud
Financial institutions battling an increase in fraud, particularly push-payment scams, have been stymied in sharing information that might help them better protect customers.
