Banking: Page 13

  • Treasury Prime multi-bank network
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    Permission granted by Treasury Prime
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    Treasury Prime, Narmi partner to offer FedNow service

    The partnership aims to simplify and accelerate the adoption of FedNow by small and medium-sized financial institutions in Treasury Prime’s network.

    By Rajashree Chakravarty • April 3, 2024
  • CFPB Director Rohit Chopra participates in a meeting of the Financial Stability Oversight Council at the U.S. Treasury
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    Kevin Dietsch via Getty Images
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    Credit card complaints jumped 38% last year: CFPB

    The Consumer Financial Protection Bureau received 70,000 card-related complaints from consumers last year, according to a report last week.

    By • April 3, 2024
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    innni via Getty Images
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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
  • Ryan Reynolds
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    Emma McIntyre via Getty Images
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    Nuvei goes private in stock sale to Advent

    The sale of the Canadian payments processor’s stock to the private equity firm will hand some investors a $560 million windfall.

    By • April 2, 2024
  • American Express logo on window
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    Scott Olson via Getty Images
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    How Amex is entangled in the Visa-Mastercard settlement

    The settlement gives merchants the ability to surcharge for nearly all Visa and Mastercard credit card transactions, and puts pressure on American Express to allow the same. 

    By • April 1, 2024
  • Smiling mature man using laptop
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    Mirel Kipioro via Getty Images
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    Sponsored by U.S. Bank

    Stay competitive: Enhance your payment experience with U.S. Bank Card as a Service (CaaS)

    For many companies, CaaS not only improves the customer experience but also yields expected—and sometimes unexpected—benefits for the business.

    April 1, 2024
  • Director of Consumer Financial Protection Bureau Rohit Chopra speaking in front of a desk.
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    Alex Wong via Getty Images
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    CFPB targets ‘bait-and-switch’ card reward programs

    Major credit card providers saddle rewards programs with fees and interest, burdening consumers who carry balances, CFPB Director Rohit Chopra said.

    By • March 27, 2024
  • Ally Financial, NYSE facade
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    Courtesy of Ally Financial
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    Discover CEO to exit for Ally

    Michael G. Rhodes, who took the top post at Discover this year, is leaving to become the next CEO of the bank Ally.

    By Caitlin Mullen • March 27, 2024
  • View of a Walmart storefront
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    Justin Sullivan via Getty Images
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    Walmart can end Capital One card tie early, judge says

    It won’t be easy for Walmart to find a new partner to replace Capital One, though, said Brian Riley, co-head of payments at Javelin Strategy & Research.

    By Caitlin Mullen • March 27, 2024
  • A Klarna promotional sign is seen in a mall
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    Caitlin Mullen/Payments Dive
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    NY Assembly bill counters governor on BNPL

    A New York assemblymember has introduced a buy now, pay later bill, countering one introduced in the governor’s budget bill.

    By • March 27, 2024
  • The Capital One logo is displayed on the side of its headquarters in McLean, Va.
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    Win McNamee via Getty Images
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    Capital One pledges to give Discover’s network a boost

    Dominated by Visa and Mastercard, card network markets “sorely need an injection of competitive rivalry,” Capital One argued in its application to regulators to purchase Discover.

    By Caitlin Mullen • March 26, 2024
  • A woman holding a smartphone walks past a gray wall with an apple logo on a black sign.
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    Sean Gallup via Getty Images
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    DOJ calls Apple card fees ‘significant expense’ for banks

    The tech giant’s fees for credit card transactions “cut into funding for features and benefits that banks might otherwise offer smartphone users,” the Department of Justice said in suing the company earlier this month.

    By • March 26, 2024
  • Stickers with the visa and mastercard logos on the exterior window of a store.
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    Justin Sullivan via Getty Images
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    Visa, Mastercard reach landmark credit card settlement

    The two biggest U.S. card networks agreed to cap interchange fees for five years, among other terms, to settle merchant litigation that has lasted nearly two decades.

    By • March 26, 2024
  • JPMorgan Chase sign in front of building in street level view.
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    Chris Hondros via Getty Images
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    JPMorgan seeks embedded payments niches

    The biggest U.S. bank aims to offer embedded payments software solutions in more industries for its corporate clients.

    By • March 25, 2024
  • Visa cards stacked and splayed
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    Justin Sullivan via Getty Images
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    How Visa handled ‘BidenCash’ card fraud incident

    The card network giant identified 556,000 card accounts that were put at risk as a result of the cybercrime ring BidenCash’s release of data online in December.

    By Tatiana Walk-Morris and Lynne Marek • March 25, 2024
  • A Capital One sign is seen
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    Joe Raedle / Staff via Getty Images
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    Advocates urge transparency in Capital One-Discover review

    More than 30 organizations demanded the deal not be subject to expedited federal review and that public hearings be held in the largest lending markets for both Capital One and Discover.

    By Caitlin Mullen • March 22, 2024
  • The Wisconsin State Capitol dome reflecting in a steel and glass building
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    YangYin via Getty Images
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    Wisconsin passes EWA law as states’ paths diverge

    Wisconsin became the third state to pass a law requiring that earned wage access providers be licensed, and leaving the payments unregulated under lending laws.

    By • March 22, 2024
  • Screenshots of Amazon mobile app showing how to add venmo as payment option.
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    Courtesy of Amazon
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    Column

    PayPal’s new CEO takes the Venmo challenge

    PayPal has been striving for more than a decade to better connect Venmo to merchants and make it pay off. Now, a new CEO has inherited the challenge.

    By • March 21, 2024
  • A mailbox is overflowing.
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    ANGEL RAMIREZ/iStock via Getty Images
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    ABA, U.S. Postal Services jointly combat check fraud

    American Bankers Association and the U.S. Postal Inspection Service are working together to educate postal and banking employees as well as consumers on the rising form of fraud.

    By Tatiana Walk-Morris • March 21, 2024
  • Credit card logos displayed in a window.
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    Scott Olson via Getty Images
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    Fed banks analyze consumer use of card promos

    New research from the Philadelphia and Boston Feds finds that consumers are cycling through low APR credit card offers.

    By Tatiana Walk-Morris • March 20, 2024
  • Dollar bills and finance and banking on digital stock market financial exchange
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    SARINYAPINNGAM via Getty Images
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    Clearing House’s ACH growth rate outstrips Fed

    Automated payments volume processed by The Clearing House grew at a faster rate than at the Federal Reserve last year.

    By • March 19, 2024
  • Mastercard image of two interlocking circles and a horizon seen through them.
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    Courtesy of Mastercard
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    Mastercard extends tie to Alipay

    The card giant said the expanded partnership will let the Chinese digital wallet company’s 1 billion users send payments to 180 markets.

    By • March 19, 2024
  • Two hands holding credit cards.
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    Joe Raedle via Getty Images
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    Ballooning credit card balances loom over retail sales

    The level of debt may surpass the all-time record this year, even when adjusted for inflation, some analysts say.

    By Daphne Howland • March 19, 2024
  • Pixelated U.S. paper currency on dark background
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    dem10 via Getty Images
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    New Nacha rules strike at push-payment fraud

    “With respect to transaction monitoring for fraud, it would no longer be acceptable to do nothing,” Nacha Executive Vice President Michael Herd said.

    By • March 19, 2024
  • Photo of actor-entrepreneur Ryan Reynolds
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    Courtesy of FuboTV
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    Nuvei forms committee to evaluate ‘strategic alternatives’

    The Canadian payments company confirmed it’s in talks about a potential transaction with a third party, noting the committee will explore possibilities.

    By • March 18, 2024
  • A woman using a mobile phone with online transaction appl
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    marchmeena29 via Getty Images
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    Marqeta CFO touts EWA expansion

    The card-issuing fintech has seen adoption of its debit card-linked EWA product increase as hourly workers at Walmart and Uber have been added, CFO Mike Milotich said.

    By • March 18, 2024