Credit card debt surpasses pre-pandemic levels: Fed

Despite a pause in payments required for federal student loans, younger borrowers particularly are showing higher credit card delinquencies.

By Tatiana Walk-Morris • Feb. 17, 2023

Paymentus hands interim CFO severance benefits

The company called the severance benefits’ approval a formality. But one expert said it is likely a retention strategy designed to encourage the interim CFO to “stick around.” 

By Maura Webber Sadovi • Feb. 16, 2023

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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

Debit routing rule tables turned on regulators

Bank card issuers say there isn’t enough network competition to meet the July debit card routing rule deadline, adopting regulators’ argument to push back.

By Lynne Marek • Feb. 16, 2023

Branch draws Uber, others into fold

After landing Uber as a client, the worker payment services company has recently attracted other logistics and delivery clients with help from that big name.

By Caitlin Mullen • Feb. 16, 2023

Retailers oppose banks seeking more time on debit routing rule

Banks requested a delay in implementing a debit routing rule, but a retail and merchant trade group argued it’s high time the card issuers comply.

By Lynne Marek • Feb. 15, 2023

Credit metrics creep toward prepandemic levels

Delinquency rates for Discover, Synchrony and Bread all rose in January relative to December levels. 

By Caitlin Mullen • Feb. 15, 2023

Payments firms gear up for new ISO standard

The Clearing House and other payments players, including Swift, are readying for the March rollout of a international payments standard.

By Lynne Marek • Feb. 15, 2023

Back to the future with Worldpay

FIS CEO Stephanie Ferris and her Worldpay sidekick Charles Drucker, reclaiming a role at the business, will be under pressure to avoid “dis-synergies.”

By Lynne Marek • Feb. 14, 2023

Crypto regulation shouldn’t smother innovation: Fed’s Waller

The Fed governor highlighted the benefits of smart contracts, as well as the potential for tokenization as a privacy tool, in a speech Friday.

By Rajashree Chakravarty • Feb. 13, 2023

Gun merchant code to be published this month

Once it’s published, use of the new code “is eventually left up to the users in the industry,” an ISO spokesperson said.

By Caitlin Mullen • Feb. 13, 2023

FIS plans to spin off merchant unit

The payments processor plans to spin off its merchant business, which will reclaim its Worldpay name, and appointed its former CEO, Charles Drucker, to lead the unit.

By Lynne Marek • Feb. 13, 2023

Global Payments sells gaming unit for $415M

Like the company’s $1 billion sale of its Netspend consumer unit, the divestiture reflects efforts to refine its portfolio, said Global Payments CEO Jeff Sloan.

By Caitlin Mullen • Feb. 10, 2023

Fiserv’s new HQ approved for state tax credits

The company is set to receive up to $7 million from the Wisconsin Economic Development Corporation for its new Milwaukee headquarters.

By Caitlin Mullen • Feb. 10, 2023

PayPal CEO will retire at the end of 2023

Dan Schulman said he plans to exit then, but will be flexible in the timing. He called 2023 a potentially “transformational year” for the digital payments company.

By Lynne Marek • Feb. 9, 2023

Euronet lands HSBC as Dandelion client

Euronet attracted the United Kingdom bank HSBC as one of the first financial institution clients for its Dandelion cross-border payments service.

By Lynne Marek • Feb. 9, 2023

Ingenico aims to make acquirers more competitive

Ingenico is adding an in-store payments software service, and hinted that a large U.S.-based merchant acquirer will start using it soon.

By Caitlin Mullen • Feb. 9, 2023

Affirm cuts 500 employees

The buy now, pay later provider is eliminating jobs after its loss for the fourth quarter of last year ballooned over the same period in 2021.

By Lynne Marek • Feb. 9, 2023

New Visa CEO snags 27% salary increase

The new top executive, Ryan McInerney, and other executives at the card network company also received multi-million-dollar stock awards.

By Lynne Marek • Feb. 8, 2023

Jack Henry touts FedNow launch

In July, the company expects to become the first payments processor to launch the Federal Reserve’s new real-time service.

By Caitlin Mullen • Feb. 8, 2023

Google, Amex roll out anti-fraud tool

Amex is the latest card company to tap a Google virtual card service aimed at increasing the security of online payments.

By Lynne Marek • Feb. 7, 2023

Klarna jumps back to Y2K with Paris Hilton

An ad campaign developed with the fashion icon turned marketing pro reinvents her “That’s hot” catchphrase for the BNPL provider.

By Peter Adams • Feb. 7, 2023

Fiserv discloses acquisitions

Even as the payments and fintech giant cut employees and sold off business units, the company spent $1 billion on acquisitions last year.

By Caitlin Mullen • Feb. 7, 2023

Eliminating costly false declines online

“False declines are especially problematic in an environment where demanding customers with high expectations are not afraid to take their business elsewhere,” writes an Experian executive.

By Chris Ryan • Feb. 6, 2023

Merchants frustrated with fees, tech issues

Inflation-weary business owners are less satisfied with their merchant service providers this year, a J.D. Power survey showed.

By Caitlin Mullen • Feb. 3, 2023

Payments firms make C-suite changes

In addition to new CEO appointments at Visa and Marqeta, payments companies Paysend, AvidXchange, TreviPay and LeafLink recently installed new executives.

By Tatiana Walk-Morris • Feb. 3, 2023