Banking: Page 41


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    Column

    Can Congress come together on crypto?

    Perhaps even a divided Congress can make bipartisan headway in crafting a regulatory framework for crypto following the FTX failure.

    By Nov. 17, 2022
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    NY Fed launches CBDC project with Mastercard, big banks

    Mastercard and big banks such as Citi, Wells Fargo, BNY Mellon and U.S. Bank are set to participate in the proof-of-concept trial.

    By Rajashree Chakravarty • Nov. 16, 2022
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    innni via Getty Images
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    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
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    Courtesy of Mastercard
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    Mastercard predicts Black Friday bonanza

    The card network company said in a report this week that it expects a Black Friday “shopping blitz” will lead retail sales to jump 15% over last year. 

    By Jonathan Berr • Nov. 16, 2022
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    Dilok Klaisataporn via Getty Images
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    Q&A

    CEOs Sound Off: Payments forecasts for 2023

    The CEOs of Brex, Splitit and Paystand weigh in on what’s to come in the year ahead, commenting on the trends, challenges, regulation and M&A.

    By Caitlin Mullen , Nov. 16, 2022
  • Discover Financial CEO Roger Hochschild
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    Permission granted by Discover
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    Discover concludes student loan probe

    While the card company said it has finished its own investigation into its student loan servicing practices, it may still be subject to regulatory probes.

    By Caitlin Mullen • Nov. 16, 2022
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    Alex Wong via Getty Images
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    Nacha, Fed, Clearing House offer late night payments

    The Federal Reserve and The Clearing House have launched late night ACH payments, speeding up the processing of some payments.

    By Tatiana Walk-Morris • Nov. 16, 2022
  • Fiserv CEO Frank Bisignano
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    Ilya S. Savenok / Stringer via Getty Images
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    Fiserv ‘maniacally focused’ on expense management

    When asked Monday how Fiserv would adapt to an economic downturn, CEO Frank Bisignano said the company knows what levers to pull “to manage the expense line.”

    By Caitlin Mullen • Nov. 15, 2022
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    Wex readies for acquisitions

    Acquisitions are part of Wex CEO Melissa Smith’s annual growth goals, and the deteriorating economy could present attractive targets, she said.

    By Nov. 11, 2022
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    Alex Wong via Getty Images
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    FTX files for bankruptcy, CEO steps down

    FTX.com’s assets were frozen in the Bahamas, where the company is headquartered. Crypto lender BlockFi also paused withdrawals because of its exposure to FTX.

    By Gabrielle Saulsbery • Nov. 11, 2022
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    Maja Hitij via Getty Images
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    Musk pushes Twitter toward payments

    “Give them some amount of money, like ten bucks or something, that they can send anywhere in the system,” said Twitter’s new owner, Elon Musk. “We need money transfer licenses for that, which we’ve applied for.”

    By Anna Hrushka • Nov. 11, 2022
  • Green Dot GO2bank
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    Courtesy of Green Dot
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    Green Dot CEO taps new team

    The payment services company’s recently appointed CEO brought on his own team this week, naming a new CFO, COO and chief revenue officer.

    By Nov. 11, 2022
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    Anna Hrushka/Payments Dive
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    CBDC could accelerate cross-border payments: NY Fed

    Researchers designed a prototype digital currency that cleared cross-border transactions within 10 seconds, but they said the study doesn’t endorse a CBDC or assume the Fed will issue one.

    By Rajashree Chakravarty • Nov. 10, 2022
  • Jason Gardner, Marqeta
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    Courtesy of Marqeta
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    Marqeta lands new client, faces questions on Block

    While the company said this week that it won new business from a fintech backed by Walmart, it also faced questions over contract renewals for its biggest customer, Block. 

    By Nov. 10, 2022
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    ipopba via Getty Images
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    Jack Henry & Associates bucks slowdown trend

    Executives for the tech services provider asserted that their pipeline of new business remains healthy despite economic headwinds beating up the rest of the industry.

    By Caitlin Mullen • Nov. 9, 2022
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    Opinion

    Preparing for the CBDC era

    Central bank digital currencies would allow for faster cross-border payments that would “help boost trade within the region and with the rest of the world,” an Equinix executive writes.

    By Lance Homer • Nov. 9, 2022
  • Max Levchin is the ceo of Affirm
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    Drew Angerer/Getty via Getty Images
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    Affirm curbs hiring amid economic uncertainty

    The buy now-pay later company is pulling back on adding talent in some areas, but plunging ahead in others and seeking out talent in lower-cost regions.

    By Jonathan Berr • Nov. 9, 2022
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    ipopba via Getty Images
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    FIS targets $500M in cost cuts

    The digital payments company is aiming to cut costs by streamlining operations, reducing capital expenditures and pulling back on vendor contracts.

    By Jonathan Berr • Nov. 9, 2022
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    artas via Getty Images
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    Tracker

    How active shooters pay for guns

    Payment methods used by active shooters to acquire guns are becoming part of the U.S. dialogue about such incidents. A Payments Dive series tracking those details seeks to inform the discussion.

    By Payments Dive staff • Updated Dec. 13, 2022
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    FedNow gives fee holiday in 2023

    Federal Reserve banks introducing the new instant payments system next year will jettison customer transfer and participation fees for the launch.

    By Nov. 7, 2022
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    PayPal girds for slowdown, leans on Apple, Amazon

    The digital payment pioneer is counting on its ties to Apple and Amazon as it prepares for an economic slowdown already showing up in e-commerce.

    By Nov. 4, 2022
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    Dia Dipasupil via Getty Images
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    Amex’s Squeri gets $15M in stock options

    The special grant to American Express CEO Steve Squeri reflects “his outstanding leadership” at the company, Amex said in a regulatory filing.

    By Caitlin Mullen • Nov. 4, 2022
  • Image of Twitter feed on computer showing Elon Musk's face and a headline about this purchase of the the company.
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    Scott Olson via Getty Images
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    Musk aims Twitter at payments

    Twitter’s new billionaire owner plans to make the company into a payments player, but industry pros say social media platforms aren’t cut out for that game.

    By Nov. 3, 2022
  • Patrick and John Collison, Stripe co-founders
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    Stripe chops workforce for ‘leaner times’

    The payments company will cut about 1,140 jobs as it reins in expenses in the face of deteriorating economic conditions after growing too fast.

    By Nov. 3, 2022
  • Amazon offers merchants cash advances

    Sellers on the company’s online marketplace can access from $500 to $10 million in cash advances, with repayment based on a fixed percentage of their gross merchandise sales. 

    By Tatiana Walk-Morris • Nov. 2, 2022
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    6 payments takeaways from big consulting firms

    Recent reports from Ernst & Young, Forrester Research and McKinsey examined forces at play in the payments industry, from “swipe” fee frustration to open banking and cross-border payments trends.

    By Caitlin Mullen , , Jonathan Berr • Nov. 2, 2022