Payments M&A poised to rise this year

Conditions could be ripe for more payments deals in 2024, as legacy players seek to add unique technologies and struggling startups find themselves in need of an exit plan.

By Caitlin Mullen • Jan. 18, 2024

Visa picks fintech startups for accelerator

A debt repayment app startup and a small business lender are among the U.S. startups selected by the card network and its partner this year.

By Tatiana Walk-Morris • Jan. 17, 2024

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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

CFPB proposal would cut overdraft fees

Overdraft fees would be reclassified as extensions of credit, forcing banks to disclose an APR. They could also be cut to as low as $3.

By Dan Ennis • Jan. 17, 2024

X gains money transmitter approval in Utah

X has been collecting money transmitter approvals in recent months to launch peer-to-peer payments in the app.

By Andrew Hutchinson • Jan. 17, 2024

Amex to sell fraud prevention firm Accertify

The card issuer is selling the business, which offers online fraud monitoring services to merchants, to the tech investment firm Accel-KKR.

By Caitlin Mullen • Jan. 16, 2024

PayPal elicits skepticism from analysts

Analysts have soured on PayPal’s prospects, at least for now, noting competition is encroaching on the payment pioneer’s turf as a new CEO tries to make gains.

By Lynne Marek • Jan. 16, 2024

Fiserv seeks special purpose bank charter

The designation would allow the payment processor to own transactions from end-to-end, removing the need for a bank partner.

By Caitlin Mullen • Jan. 12, 2024

Payments M&A in 2023 amounts to a whimper

October’s uptick in activity didn’t continue through the remainder of the year, capping a quiet year for merger and acquisition activity in payments.

By Caitlin Mullen • Jan. 12, 2024

Revolut hit with biometric ID class action in Illinois

Several tech companies have been hit with lawsuits under Illinois' Biometric Information Privacy Act in recent years.

By Gabrielle Saulsbery • Jan. 12, 2024

States race ahead of US lawmakers in payments

State lawmakers and regulators are out-running their national peers in giving direction to the fast-evolving payments industry.

By Lynne Marek • Jan. 12, 2024

Stablecoin issuer Circle files for IPO

Circle, which issues the USDC stablecoin, has filed confidential paperwork with the Securities and Exchange Commission — one day after the SEC's approval of 11 spot bitcoin exchange-traded funds.

By Gabrielle Saulsbery • Jan. 12, 2024

Instant payments to buoy cross-border flow

The latest cross-border input from the U.S. Faster Payments Council suggests it’s not too early to assess how real-time payments will shape international transactions.

By Lynne Marek • Jan. 11, 2024

X plans payments launch for this year

“I would be surprised if it takes longer than the middle of [2024] to roll out payments,” X owner Elon Musk said during a conversation last month with Ark Invest CEO Cathie Wood.

By James Pothen • Jan. 10, 2024

6 payments trends to watch in 2024

Swipe fee battles, real-time payments, fraud prevention and acquisition plans will be among the hot topics pulsing through the industry this year.

By Lynne Marek , Caitlin Mullen , James Pothen • Jan. 9, 2024

Regulator’s BNPL guidance may go beyond banks

The Office of the Comptroller of the Currency directed its advice at national banks, but a Venable attorney expects others to use it to inform their approaches.

By Caitlin Mullen • Jan. 9, 2024

Congress members seek clarity on CFPB bid to oversee digital wallets

In two separate letters, both Republican and Democratic lawmakers asked the Consumer Financial Protection Bureau to provide more information on a proposed rule.

By James Pothen • Jan. 9, 2024

FlexWage wins EWA carve-out in Connecticut

The earned wage access company said the Connecticut Department of Banking determined it doesn’t need a state lending license.

By Lynne Marek • Jan. 5, 2024

Bank groups voice concerns with CFPB’s open banking proposal

The Bank Policy Institute and The Clearing House want the Consumer Financial Protection Bureau to take a tougher stance on screen scraping, and allow banks to charge fees to cover the cost of enabling data sharing.

By Anna Hrushka • Jan. 5, 2024

Trade groups seek to delay digital wallet oversight plan

Fintech trade groups asked the Consumer Financial Protection Bureau to extend the comment period on a proposal formalizing its oversight of big tech companies’ digital wallets.

By Caitlin Mullen • Jan. 4, 2024

CFPB flags impending guidance on earned wage access

The federal agency plans to weigh in on EWA services, it said in commenting on a California proposal to register and oversee the providers of such services.

By Lynne Marek • Jan. 4, 2024

Canadian payments firms chart US growth

Versapay and Brim Financial, both based in Toronto, have already lured U.S. customers, and are seeking to expand their clientele south of the border.

By Lynne Marek , Caitlin Mullen • Dec. 22, 2023

Trade group girds for 2024 CCCA fight

The Electronic Payments Coalition is “fully funded” for the continuing fight over the proposed Credit Card Competition Act this year, said the organization’s executive chairman.

By Lynne Marek • Dec. 22, 2023

Data startup Spade aims for larger customers

Spade is tapping its recent funding to try to lure more big U.S. banks to its services, CEO Oban MacTavish said.

By Caitlin Mullen • Dec. 21, 2023

U.S. Bank fined $36M over freezes of COVID-era unemployment benefits

The Minneapolis-based lender flagged a CFPB probe into prepaid card use last year. The OCC added a separate penalty Tuesday.

By Dan Ennis • Dec. 20, 2023

Atlanta Fed delivers payments inclusion report

PayPal, Block and Global Payments representatives contributed to the Atlanta Federal Reserve Bank’s research on how to draw more people into the digital payments sphere.

By Lynne Marek • Dec. 20, 2023