As biometrics use advances, so must hacker defenses

“Hackers are using all sorts of sophisticated methods to trick and bypass biometric technology – like capturing audio clips of individuals’ voices, making fake fingerprints using putty and gelatin, and downloading photos and videos,” an executive writes.

By Alessandro Chiarini • July 7, 2023

FTC revs up money transfer case against Walmart

The Federal Trade Commission revved up its case against Walmart last week, alleging the retailer facilitated fraudulent transactions, despite a court ruling setback in March.

By Lynne Marek • July 6, 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

Card issuers defend late fees

In responses to a group of U.S. senators, the top 10 credit card issuers outlined their late fee practices and warned of potential consequences if fees are capped as the CFPB has proposed.

By Caitlin Mullen • July 6, 2023

FIS to sell Worldpay stake to GTCR

Fidelity National Information Services will sell a 55% stake in Worldpay to the private equity firm GTCR for $11.7 billion, valuing the company at $17.5 billion. 

By Lynne Marek • July 6, 2023

Debit plagued by security concerns: survey

Just 40% of consumers feel confident in the security and safety of their debit cards, J.D. Power said.

By Caitlin Mullen • July 5, 2023

Goldman in talks to transfer Apple card deal to Amex: reports

The move, if true, would mark a 180-degree turn after Goldman and the tech giant extended their partnership until 2029 in October.

By Gabrielle Saulsbery • July 5, 2023

GTCR makes billion-dollar bid for Worldpay stake: report

Fidelity National Information Services had planned to spin off the merchant processing business Worldpay, but multiple news reports suggest control may be sold instead.

By Lynne Marek • July 5, 2023

NCR outlines ATM spin-off strategy

The separation of NCR’s ATM business and its digital commerce operations occurred in the fourth quarter of last year.

By Caitlin Mullen • June 30, 2023

Moody’s report spotlights FedNow downside

The soon-to-launch real-time payments system from the Federal Reserve may reduce interchange fee revenue for some payments players and increase IT costs for others.

By Lynne Marek • June 30, 2023

Visa to acquire Pismo for $1B

Visa said it has agreed to acquire the Brazilian company to provide more card issuing and banking services to fintechs and financial institutions.

By Lynne Marek • June 29, 2023

FedNow battles conspiracy theories

The Federal Reserve’s new instant payments system is confronting disinformation as it gears up for a launch, likely late next month.

By Lynne Marek • June 28, 2023

Square tests credit card for merchants

The card aimed at providing more financial services to merchants comes amid a slew of competition to serve that clientele.

By Caitlin Mullen • June 28, 2023

Amex promotes deputy to CFO

When long-time American Express CFO Jeff Campbell exits in August, the company’s deputy CFO, Christophe Le Caillec, will take the top financial post.

By Caitlin Mullen • June 27, 2023

Credit card used to buy AR-15 rifle in New Mexico shooting

Police confirm the gunman’s father used a credit card to pay for part of a transaction that included the weapon purchase.

By Debbie Carlson • June 26, 2023

ATMs dwindle for third straight year

Can ATMs justify their existence in an increasingly cashless world?

By James Pothen • June 23, 2023

Robinhood to buy X1 card business

The online broker said it agreed to acquire the credit card business for $95 million. X1 doesn’t charge card holders annual or late fees, but does charge interest.

By Lynne Marek • June 23, 2023

Fees, interest charges rise to $347B: report

Fees and interest incurred on financial services, including credit cards, rose 14% last year, the Financial Health Network reported.

By Tatiana Walk-Morris • June 23, 2023

B2B must embrace digital payments

“B2B organizations have been slow to adapt to the changing demands and expectations of Gen Z,” writes a payments company vice president. “This is a huge mistake, and it can cost them dearly in the long run.”

By Justin Main • June 22, 2023

US servicemembers ensnared by digital payment app scams

Servicemember complaints about digital payment apps surged last year, according to a CFPB report, which also highlighted military families’ susceptibility to payments fraud.

By Lynne Marek • June 22, 2023

Visa hires CFO replacement

Card giant Visa has selected Chris Suh as its new chief financial officer. Suh, formerly at gaming company Electronic Arts and tech titan Microsoft, will receive a $3 million signing bonus and $20 million in longer-term compensation.

By Lynne Marek • June 20, 2023

Shell updates payment technology

The technology from Gilbarco Veeder-Root will update payment touchpoints at 13,000 of the fuel company’s U.S. pump locations. 

By Jessica Loder • June 20, 2023

Will Nevada’s law prod the CFPB on EWA?

Nevada’s new law on earned wage access increases the importance of hearing more from the Consumer Financial Protection Bureau about its view of the growing on-demand pay trend.

By Lynne Marek • June 20, 2023

Fraud losses to surpass $40B by 2027: report

One in five consumers worldwide have been victims of payment fraud in the past four years, according to an ACI report.

By Tatiana Walk-Morris • June 16, 2023

Nevada governor signs first state EWA law

Backers of the law establishing a licensing process for earned wage access providers operating in the state say it’s the first of its kind in the U.S.

By Lynne Marek • June 16, 2023

Visa launches fintech accelerator in Africa

The program is part of Visa’s effort to invest $1 billion in the continent’s digital transformation over five years.

By James Pothen • June 14, 2023