The Clearing House nabs top Fed official

The new hire is tasked with boosting adoption of The Clearing House’s RTP real-time payments system, as the new rival Federal Reserve FedNow system seeks to attract clients.

By Tatiana Walk-Morris • Nov. 14, 2023

DailyPay wage payments delayed due to Friday snafu

The early wage access company didn’t immediately make some payments to workers because of a snag related to the Veterans Day holiday.

By Lynne Marek • Nov. 14, 2023

Explore the 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

BNPL companies face grim outlook, Moody’s says

Fierce competition, persistent losses and regulatory constraints are likely to push some players out of the buy now, pay later market, Moody’s predicted.

By Lynne Marek • Nov. 13, 2023

Bitcoin Depot CEO weighs in on new California law

Bitcoin Depot CEO Brandon Mintz contends a new California law will “create economic challenges” for his company and other crypto ATM operators.

By James Pothen • Nov. 10, 2023

Jack Henry lands more FedNow clients

Jack Henry & Associates recorded an increase in the number of customers connected to the new Federal Reserve instant payments system, but they’re all in receive-only mode.

By Lynne Marek • Nov. 8, 2023

Citi fined $25.9M over alleged discrimination

The bank, between 2015 and 2021, denied certain credit card products to applicants with surnames ending in “ian” and “yan,” suffixes that Citi employees associated with Armenian national origin, the CFPB said.

By Anna Hrushka • Nov. 8, 2023

Millennial credit card delinquencies rise: New York Fed

Nearly 3% of millennials are newly delinquent as of the third quarter this year, slightly up from 2.5% in Q3 2019, according to a report from the Federal Reserve Bank of New York.

By Tatiana Walk-Morris • Nov. 8, 2023

CFPB proposes new oversight for payment tech firms

Google, Apple and 15 other big non-bank technology companies that provide digital wallets or payments apps would be subject to increased regulation if a new Consumer Financial Protection Bureau rule is approved.

By Lynne Marek , James Pothen • Nov. 7, 2023

Micropayments poised to surge: Forrester

In the U.S., bank-based payments need to gain steam before micropayments can truly take off, but there are increasing signs that’s on track, said Forrester analyst Lily Varón.

By Caitlin Mullen • Nov. 7, 2023

Cross-border payment headaches burden consumers: Mastercard report

As international groups examine cross-border payment challenges, consumers and small businesses are worried about the costs and risks associated with sending money or receiving funds internationally.

By Tatiana Walk-Morris • Nov. 7, 2023

Visa launches cybersecurity training program

The card giant rolled out a cybersecurity apprenticeship program last year amid a talent deficit highlighted by the Biden administration.

By Tatiana Walk-Morris • Nov. 6, 2023

Top trends shaping the future of bill payment

As consumer payment expectations continue to transform e-commerce experiences, billers should consider which emerging trends should be adopted.

Nov. 6, 2023

Block to shrink workforce

The company plans to cut about 8% of its workforce over the next year as Jack Dorsey steps up his efforts to improve efficiency and revive profits.

By Caitlin Mullen • Nov. 3, 2023

PayPal discloses SEC, CFPB probes

The digital payments company said it’s cooperating with a Securities and Exchange Commission probe of its stablecoin, and a Consumer Financial Protection Bureau inquiry related to bank transfers.

By Lynne Marek • Nov. 3, 2023

Apple’s payments regulation woes mount

Regulators in the Netherlands, South Korea and Australia have targeted the tech giant’s payments business, and antitrust litigation is brewing in the U.S.

By James Pothen • Nov. 2, 2023

PayPal promotes Archie Deskus to CTO

The move expands the executive's oversight to include platform engineering teams, the company said Thursday.

By Roberto Torres • Nov. 2, 2023

Treasury Prime creates instant payment rail

The new payment rail allows fintech clients to move money between banks in milliseconds, the software company’s CEO said in an interview.

By James Pothen • Nov. 2, 2023

Klarna transfers 500 jobs in cost-cutting move

The buy now, pay later provider is outsourcing about 500 positions in 10 markets to two partners, a company spokesperson said.

By Caitlin Mullen • Nov. 2, 2023

PayPal’s new CEO promises improvements

Alex Chriss, who took the top post in September, tapped a new chief financial officer this week and pledged to refocus the payment company's strategy.

By Lynne Marek • Nov. 2, 2023

Non-bank financial institutions must report data security breaches: FTC

The amendment to the FTC’s Safeguards Rule would require non-banking financial institutions to report when they discover information impacting at least 500 people has been accessed without authorization.

By Rajashree Chakravarty • Nov. 1, 2023

Western Union grapples with growth goals

The cross-border payments company plans to revamp its loyalty program early next year as part of a plan to jump-start growth.

By Lynne Marek • Nov. 1, 2023

Payments players react to debit cap cut

The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.

By Caitlin Mullen • Oct. 31, 2023

Frequent flyer programs drawn into credit card bill fray

Sens. Dick Durbin and Roger Marshall, who have introduced legislation to spur credit card competition, called on federal regulators to investigate card frequent flyer program abuses.

By Lynne Marek • Oct. 31, 2023

Consumers expect to use fewer digital wallets: report

As more merchants accept digital payments for in-store purchases, consumers are moving away from using multiple, single-use payment apps, McKinsey Senior Partner Marie-Claude Nadeau said.

By James Pothen • Oct. 30, 2023

Discover discloses SEC probe

A pricing error by the card company that affected merchants and merchant acquirers triggered the investigation.

By Caitlin Mullen • Oct. 27, 2023