The Latest
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Fiserv’s CEO eyes monetization
Takis Georgakopoulos is trying to reposition the company so it’s better able to sell its key payments and banking services.
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PayPal CEO plans for a ‘fix’
Can selling financial services to consumers, organizing the business into three units and pursuing acquisitions repair the digital payments pioneer?
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Visa offers data to back onchain lending
The card network aims to offer settlement and blockchain data so fintechs and card programs backed by stablecoins can better access onchain credit.
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Trump pledges card fee cuts, again
The president reiterated his support for policies to cut fees associated with credit cards, noting the charges are a burden for consumers.
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Zip explores an EWA play
The buy now, pay later company may start a U.S. earned wage access service as an “income-smoothing” complement to its business.
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Circle buys Tazapay for $400M
The stablecoin issuer will gain new payment rails and bank relationships via the Singapore-based cross-border payments firm.
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Visa builds business abroad
The card network has entered a partnership with an international lender in emerging economies to fuel demand for digital payments around the world.
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Processor pays $12M to settle ‘sham’ merchant case
ISO Humboldt Merchant Services agreed to settle a Federal Trade Commission lawsuit that alleged it processed fraudulent payments.
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Block seeks OCC bank charter
Cash App’s parent is joining a parade of fintechs seeking to become national banks as the Office of the Comptroller of the Currency allows more leeway for such licenses.
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RTP, Fed race on fast payments
While The Clearing House’s RTP network races with the Federal Reserve’s FedNow system, the U.S., overall, lags on speedy payments.
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Nuvei pays $4.9M to settle FTC case
The company has agreed to settle a Federal Trade Commission lawsuit that alleged it handled processing for merchants that were engaged in scams.
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Subscription spending climbs
Consumers are splurging more via subscription payments, often for fashion and entertainment, a new Bank of America report says.
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Q&A
Ramp takes on AI expense
The expense-management company has expanded into the nascent field of artificial intelligence routing as companies seek to keep tabs on their AI costs.
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Fiserv explores divestitures
The payments processor, under pressure amid management upheaval and client attrition, told analysts it’s still considering the sale of a debit network.
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Stripe taps new stablecoin executive
The financial tech giant hired a crypto pro to help push payment cards backed by stablecoins.
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TabaPay eyes bank charter
The money movement platform received a $155 million investment to buy Transact Bank so it can offer payments clients banking services.
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Stablecoins lose ground
While the digital currencies have gained some acceptance, there is a growing interest by financial institutions in tokenized deposits as an alternative.
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ACI buys UK payments tech firm
The deal for Cranium Ventures and its cloud-based card-payments technology aims to help ACI expand in card infrastructure.
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Banks undertake stablecoin effort
Goldman Sachs, PNC and Capital One are also among 21 financial institutions partnering on an asset expected to go to market early next year.
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PayPal makes job cuts
The digital payments pioneer turned to cutting back its workforce this week following a May plan, after reportedly bypassing a possible sale.
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How Affirm leverages 0% interest
Inflation is part of what’s prompting consumers to turn to Affirm’s zero-interest buy now, pay later loans, the company’s latest financial results suggest.
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Visa delivers 6M documents to DOJ
The government and the card network will need to complete their pre-trial evidence work by the end of January, a magistrate ruled Friday.
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EWA grows despite legal limbo
Instant Financial and Clair are among the earned wage access companies expanding even as state and federal oversight evolves.
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Illinois seeks to support cash use
A new state law will require retailers to accept cash for most transactions below $500, and fine repeat violators up to $5,000.
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Opinion
Modernizing payments is a must
“Payments modernization is no longer a future aspiration,” writes one bank tech executive. “It has become an operational and strategic imperative.”