Banking

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    Real-time payments scams rise

    More people are falling for real-time payment scams as the use of such speedy systems increases, a FICO survey showed. 

    By • Nov. 22, 2024
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    Lynne Marek/Payments Dive
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    Richmond Fed seeks more CapOne-Discover input

    The regional Fed bank, which has purview for the proposed merger, demanded more information from the bank as it considers whether to approve the deal.

    By • Nov. 22, 2024
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    Trendline

    Payments players eye digital B2B opportunity

    Companies offering digital payments services envision billions of dollars in U.S. business payments flow ripe for transitioning to the electronic realm.

    By Payments Dive staff
  • Rohit Chopra, Director of the Consumer Financial Protection Bureau, giving a speech in an auditorium.
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    CFPB tweaks big tech payments rule

    In finalizing the new rule to oversee digital wallet providers Thursday, the Consumer Financial Protection Bureau said it made important changes to its initial proposal.

    By • Nov. 21, 2024
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    DC attorney general sues EarnIn over ‘deceptive’ marketing

    The fintech couches its “cash out” product as earned wage access, but it’s a loan that, at times, carries 300% interest with a poorly disclosed fee for “instant” payouts, the AG said.

    By Dan Ennis • Nov. 20, 2024
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    Sean Rayford via Getty Images
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    Opinion

    How passing the CCCA would benefit nonprofits

    "Nonprofits and charities need every penny they can get to make effective change in times of crisis, yet big banks and credit card companies continue to take their cut," writes one policy analyst.

    By Hassan Tyler • Nov. 20, 2024
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    Senate grills Visa, Mastercard executives over swipe fees

    Executives from the card networks were on the defensive Tuesday when members of the Senate Judiciary Committee berated them over high fees merchants must pay to accept credit card payments.

    By • Nov. 19, 2024
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    State interchange fee legislation makes meager progress

    As Illinois fights to preserve its landmark law exempting state taxes from the calculation of card interchange fees, other states are making little progress with similar legislative proposals.

    By • Nov. 18, 2024
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    Opinion

    Payments players should embrace digital currencies

    “Emerging currencies, digital assets, and even next-generation fiat options could be integrated thoughtfully, allowing companies to access new markets,” writes one industry chief revenue officer.

    By Ryan Miller • Nov. 15, 2024
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    Courtesy of Uber
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    Mastercard aims to cancel manual card entry by 2030

    The card network has documented a spike in online fraud, and contends that numberless cards will reduce such wrongdoing.

    By Tatiana Walk-Morris • Nov. 15, 2024
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    Column

    Durbin gives credit card bill another Senate push

    Senate Democrat Dick Durbin is intent on pursuing the Credit Card Competition Act, and perhaps preserving his political future.

    By • Nov. 14, 2024
  • Federal Reserve Governor Christopher Waller sits on a chair on stage.
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    Lynne Marek/Payments Dive
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    Private sector merits ‘significant’ payments footprint, Waller says

    The Federal Reserve must consider when to make up for private sector shortcomings in payments, while keeping its role limited, board member Christopher Waller said Tuesday.

    By Tatiana Walk-Morris • Nov. 13, 2024
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    Young people fall prey to payments fraudsters

    Debit and credit card users under 40 years old are more likely than older peers to experience fraud in making payments, a recent J.D. Power survey found.

    By • Nov. 12, 2024
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    Courtesy of Shift4
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    Will Shift4 scoop up Lightspeed?

    The acquisitive payments company could be a good fit with the Canadian point-of-sale technology provider, analysts said Monday.

    By • Nov. 11, 2024
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    Warchi via Getty Images
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    Q&A

    Open banking to move toward FDX standard

    Industry collaboration on open banking is likely to move forward, with or without the CFPB’s recent final 1033 rule, one Jack Henry executive said.

    By • Nov. 11, 2024
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    Visa pinpoints rising fraud threats

    In a new report, the card network detailed cyber schemes and scams that have led it to invest $11 billion over the past five years in improving its systems.

    By Tatiana Walk-Morris • Nov. 10, 2024
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    Afterpay to arrive on 24M Cash App cards

    The digital payment company’s leader, Jack Dorsey, aims to create lending services that will appeal to millions of U.S. adults who haven’t had access to other forms of credit.

    By Patrick Cooley • Nov. 8, 2024
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    Remitly, Payoneer cross-border payments climb

    Payments volume soared for the money transfer fintechs during the third quarter. Meanwhile, revenue at legacy rival Western Union slipped.

    By • Nov. 8, 2024
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    How Trump’s administration may rework payments policies

    The president-elect and his new administration will have the opportunity to revamp federal government approaches for everything from earned wage access to digital currencies to open banking.

    By Lynne Marek and Patrick Cooley • Nov. 7, 2024
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    Photo illustration: Shaun Lucas/Industry Dive; Getty Images; Paze

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    Paze gets new leader amid slow start

    Early Warning Services, the bank-owned company that operates Paze, tapped a new leader last month for the digital wallet operation after slow progress in launching the new service. 

    By • Nov. 7, 2024
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    LD via Getty Images
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    FTC sues fintech Dave over marketing, fees

    The Federal Trade Commission filed a complaint Tuesday alleging the fintech rarely disbursed the advertised loan amount and charged consumers a “tip” without giving them the ability to opt out of it.

    By Rajashree Chakravarty • Nov. 7, 2024
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    Cross River drops lawsuit against Fiserv unit

    The Fort Lee, New Jersey-based lender dismissed a lawsuit that it had filed against First Data Merchant Services last year. 

    By Rajashree Chakravarty • Nov. 7, 2024
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    Daniel Boczarski via Getty Images
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    Q&A

    Fiserv exec opens up on Walmart, DoorDash partnerships

    Sunil Sachdev, Fiserv’s head of embedded finance, shed light on his company’s latest high-profile collaborations.

    By • Nov. 6, 2024
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    Opinion

    DOJ’s Visa suit is unfounded

    The government acknowledges payment volumes are rising, in part because of fintech growth. This competition wouldn’t be happening if a single entity, like Visa, controlled the ecosystem.

    By Aurelien Portuese • Nov. 5, 2024
  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
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    Lynne Marek/Payments Dive
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    Fed aims to make instant payments the norm

    “It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at a major industry conference last week.

    By Lynne Marek and Patrick Cooley • Nov. 5, 2024
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    Courtesy of Mastercard
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    Mastercard gains edge in ancillary services

    The card network is besting its larger rival Visa in the sale of cybersecurity and data services, at least according to one set of analysts who reviewed their recent results.

    By • Nov. 5, 2024