Job cuts piled up in payments this year

Payments companies chopped jobs as they confronted challenges posed by inflation and stagnating e-commerce growth.

By Caitlin Mullen • Dec. 21, 2022

Billtrust appoints new CEO

The payments processing software company tapped Sunil Rajasekar for the top post as it moves forward under new ownership.

By Tatiana Walk-Morris • Dec. 20, 2022

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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

Fiserv hired ‘thousands’ of workers this year, CEO says

Even as the payments and fintech company cut employees this year, it hired “thousands” of workers, Fiserv CEO Frank Bisignano said in an interview. 

By Caitlin Mullen • Dec. 19, 2022

Wise, VizyPay target US hiring

Some payments companies have plans for extensive hiring next year, despite the economic headwinds that led other players to contract this year.

By Lynne Marek • Dec. 19, 2022

Chime made two offers up to $2B to buy DailyPay: report

DailyPay, which was founded in 2015 by Jason Lee, may be content to wait for a better offer, or perhaps lean on its track record of successful fundraising going forward.

By Anna Hrushka • Dec. 16, 2022

Consumer credit metrics slip further

Discover Financial Services and Synchrony Financial this week each reported increases in delinquencies and charge-offs.

By Caitlin Mullen • Dec. 16, 2022

FIS to review business under shareholder pressure

The payments processor is undertaking a comprehensive review of operations after two investors pressed the company to increase shareholder value.

By Lynne Marek • Dec. 16, 2022

CFPB faces Republican reckoning in next Congress

“Next month there will be a new majority in the House of Representatives — I think you'll wish you tried harder to play by the rules,” Rep. Patrick McHenry, R-NC, told CFPB Director Rohit Chopra.

By Anna Hrushka • Dec. 15, 2022

Credit delinquencies to increase next year: TransUnion

Credit card originations are expected to peak in 2022 before cooling down in 2023, TransUnion said.

By Tatiana Walk-Morris • Dec. 15, 2022

FIS CEO exits earlier than expected

In a change of plans for the payments processor, Gary Norcross will hand off the CEO title to Stephanie Ferris earlier than expected and won’t become executive chairman.

By Lynne Marek • Dec. 15, 2022

Fiserv’s Milwaukee HQ plans advance

Milwaukee's city council unanimously approved creating a tax increment financing district to provide a grant for the company's new downtown headquarters.

By Caitlin Mullen • Dec. 15, 2022

Visa pledges $1B investment in Africa

The largest U.S. credit card network plans to make the investment over the next five years in a "commitment to Africa’s growth potential.”

By Lynne Marek • Dec. 14, 2022

Why real-time payments make sense today

The impact real-time payments could have on customers and providers alike should not be ignored — especially in the face of an impending recession, writes a fintech co-founder.

By Justin Adler • Dec. 14, 2022

BofA analysts downgrade Affirm, Discover, Synchrony

Exposure to consumer credit risk and lower-income spending is significant for those three payments companies, analysts warned Tuesday.

By Caitlin Mullen • Dec. 14, 2022

Jack Henry CEO jabs at rivals

The CEO of the payments and technology services company asserted that sales are strong and the pipeline for future business is steady, despite slowdowns at rivals.

By Lynne Marek • Dec. 12, 2022

SEC calls for disclosure on crypto risks

The collapse of FTX has slammed scores of creditors, prompting SEC concerns that companies may suffer losses from direct or indirect links to crypto markets.

By Jim Tyson • Dec. 12, 2022

QuickBooks highlights fintech solutions powering small business cash flow at annual QuickBooks Connect

The annual QuickBooks Connect event explored fintech innovations improving small business cash flow.

Dec. 12, 2022

How payments will advance after the crypto crisis

At Northern Trust, which one day expects to custody digital assets, a top executive offers views on payments and digital assets evolving beyond the crypto crisis.

By Lynne Marek • Dec. 9, 2022

Payments will evolve with digital banking

“Rather than basic capabilities, consumers want a complete digital banking experience,” a payments firm professional writes. “They want access to all of the buzzworthy features.”

By John Mitchell • Dec. 9, 2022

Galileo launches BNPL for financial firms

The fintech is managing the loans on behalf of financial institutions looking to offer installment payment plans to qualified borrowers.

By Tatiana Walk-Morris • Dec. 9, 2022

Discover pulls back on debit product

The card company has suspended applications for its checking and cashback debit product due to instances of fraud, its CEO said this week.

By Caitlin Mullen • Dec. 8, 2022

Plaid cuts 260 employees

The fintech’s 20% downsizing follows moves by neobank Chime to slash 12% of its workforce and Morgan Stanley's plan to cut its headcount by 1,600.

By Dan Ennis • Dec. 7, 2022

FIS cost-cutting plans may expand

Payments technology company FIS aims to cut at least $500 million in costs as its beats back rising employee expense and a difficult economic environment.

By Lynne Marek • Dec. 7, 2022

Fiserv stands by profit margin expansion target

The tapering of First Data merger and integration costs may allow the payment technology company to expand its profit margin in the fourth quarter.

By Caitlin Mullen • Dec. 7, 2022

Visa CEO’s pay dipped to $28M this year

The value of Al Kelly’s compensation package slipped in his swan song year, ahead of handing off the CEO post next year to Ryan McInerney.

By Lynne Marek • Dec. 7, 2022