Banking: Page 43

  • Diagram of FedNow payments
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    Federal Reserve. "FedNow Instant Payments". Retrieved from FRB Services.
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    Opinion

    FedNow may stumble without nonbanks, cross-border payments

    “In addition to cross-border payments, the benefits of FedNow must be widely available to Americans through competitive, diverse providers — including nonbanks,” writes a U.S.-based Wise executive.

    By Rina Wulfing • Oct. 18, 2022
  • Fiserv CEO Frank Bisignano
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    Ilya S. Savenok / Stringer via Getty Images
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    Analysts on lookout for Fiserv job cut costs

    With the company set to report third-quarter results next week, ongoing employee cuts have put severance expense under the microscope.

    By Caitlin Mullen • Oct. 18, 2022
  • One hand holds a phone and another hand points with business icons in the background. Explore the Trendline➔
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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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    Green Dot
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    Green Dot fires CEO, postpones event

    The company terminated Dan Henry as its CEO on Friday, and postponed an investor event, even as its earnings guidance remained steady.

    By Anna Hrushka • Oct. 17, 2022
  • The Federal Reserve building is seen January 22, 2008 in Washington, DC.
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    Chip Somodevilla via Getty Images
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    Fed’s Waller expresses skepticism on CBDC

    Launching a digital currency could introduce costs and risks posing harm to the U.S. dollar's standing internationally, Waller said. The dollar’s primacy, he added, has little to do with technology.

    By Gabrielle Saulsbery • Oct. 17, 2022
  • Federal Reserve building in Washington, D.C.
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    Chip Somodevilla via Getty Images
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    Fintechs clamor for FedNow access

    Nonbank fintechs are pushing for access to the new federal faster payments system as its launch date next year approaches.

    By • Oct. 17, 2022
  • A man in shadow looks at his mobile device near a lit up Apple logo.
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    Drew Angerer/Getty via Getty Images
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    Apple to launch high-yield savings account with Goldman Sachs

    The move is the logical next step for the Apple-Goldman partnership, according to one consultant, who said the day-to-day banking product complements Apple’s Goldman-powered credit card offering.

    By Anna Hrushka • Oct. 17, 2022
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    Scott Olson via Getty Images
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    Warren roasts Wells Fargo’s ‘severely bad performance’ on Zelle fraud

    Four of the seven banks that own Zelle reported data to the senator, but she focused her attention on Wells CEO Charlie Scharf in a letter Thursday.

    By Gabrielle Saulsbery • Oct. 14, 2022
  • A contemporary artist guides a museum visitor through exhibits at an art gallery.
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    shironosov via Getty Images
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    Visa seeks to draw creators in

    The card behemoth is partnering with other fintechs in an effort to sell creators embedded payment and financial tools.

    By • Oct. 14, 2022
  • Patrick and John Collison, Stripe co-founders
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    Permission granted by Stripe
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    Stripe CEO praises European regulation over US

    Patrick Collison, who founded the company with his brother, gave an edge to the European Union in creating a regulatory regime where fintechs are thriving.

    By • Oct. 13, 2022
  • A man and woman looking at receipts inside a cafe
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    Ridofranz via Getty Images
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    Opinion

    Reduce cyber risk as digital bill payment options expand

    “Not all payment platform companies are managing operational and security as judiciously as they could, and that will eventually result in costly payment failures, customer friction, or potentially a breach,” writes PayNearMe Vice President Tim Murphy.

    By Tim Murphy • Oct. 13, 2022
  • Michael Barr
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    Win McNamee via Getty Images
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    Column

    4 takeaways from Michael Barr’s DC Fintech Week speech

    The Federal Reserve’s vice chair for supervision stressed caution for banks’ ties to crypto and spotlighted how stablecoins differ from other digital assets.

    By Dan Ennis • Oct. 13, 2022
  • Buy now pay later
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    Khaosai Wongnatthakan via Getty Images
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    Nearly half of Gen Z, millennials to tap BNPL for holiday shopping

    That buy now-pay later outlook emerged from a new Bluedot survey that also showed 43% of consumers are likely to open a new store credit card during the yearend shopping period. 

    By Tatiana Walk-Morris • Oct. 12, 2022
  • Sen. Dick Durbin with his hand up and another congressional colleague in the background.
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    Chip Somodevilla via Getty Images
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    Durbin credit card amendment hits speed bump

    U.S. Sen. Dick Durbin wasn’t able to attach the Credit Card Competition Act proposal to a defense funding bill this week, but he will try again next month.

    By • Oct. 12, 2022
  • letters m and a made with wood building blocks
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    Maks_Lab via Getty Images
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    Payments deals gain momentum

    Four billion-dollar payments acquisitions this year reflect industry dynamics that will drive more buyouts in coming months, analysts say.

    By • Oct. 11, 2022
  • Fiserv CEO Frank Bisignano
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    Eugene Gologursky / Stringer via Getty Images
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    Fiserv cuts deeper into workforce

    Payment processing giant Fiserv pared more employees in recent weeks as the company seeks to boost profit margin growth amid economic turmoil.

    By Caitlin Mullen • Oct. 11, 2022
  • Money currency exchange business in Iraq.
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    Matt Cardy via Getty Images
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    Cross-border payment plays rev up

    The Clearing House, Swift and rivals are jostling to speed up cross-border payments, with collaboration and competition likely to emerge at an international conference this week.

    By • Oct. 10, 2022
  • A cashier hands a shopper their credit card
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    Joe Raedle / Staff via Getty Images
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    Card delinquency rates, balances rise: TransUnion

    As card issuers report an uptick in delinquencies and balances, the credit reporting bureau offers new research to help lenders spot trouble.

    By Tatiana Walk-Morris • Oct. 10, 2022
  • A picture of an Uber Mastercard
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    Courtesy of Uber
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    Uber adds debit card, instant deposit for drivers

    Uber’s new debit card will provide drivers up to 10% cashback on gas, 12% on EV charging and instant pay after completion of a ride or delivery. 

    By Aneurin Canham-Clyne • Oct. 7, 2022
  • A person wearing light blue jeans and a yellow sweater has a credit card handy as they browse a selection of clothing on their phone.
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    Courtesy of GoodwillFinds.com
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    EMVCo rolls out new payment standard

    The international standard-setting organization finalized a new specification for contactless and mobile payments, but adoption of the new approach by merchants may be slow-going.

    By • Oct. 6, 2022
  • Visa cards stacked and splayed
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    Justin Sullivan via Getty Images
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    Visa flags rising in-person fraud

    The card behemoth said it’s observing an increase in in-person fraud now that U.S. consumers are returning to their pre-pandemic shopping habits.

    By • Oct. 6, 2022
  • evolve c-store
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    Retrieved from Hudson press release.
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    Checkout-free technology spreads at airports

    New frictionless convenience stores are coming to airports in Los Angeles and Dallas, continuing a trend that has gained steam since last summer.

    By Brett Dworski • Oct. 6, 2022
  • Two hands holding credit cards.
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    Joe Raedle via Getty Images
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    Consumers prefer cashback rewards: Bank of America

    Consumers base credit card choices mainly on incentives offered, with a preference for cash back over points, a Bank of America survey found.

    By Tatiana Walk-Morris • Oct. 5, 2022
  • Person looks at mobile phone advertising buy now-pay later offer while online shopping
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    Creative via Getty Images
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    FTC issues warning on BNPL claims

    As buy now-pay later popularity has mushroomed, the companies offering the financing have attracted the attention of another regulator.

    By Caitlin Mullen • Oct. 5, 2022
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    Flickr Creative Commons
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    Warren report slams Zelle reimbursements

    The senator pushed to bolster a key CFPB rule after releasing a report tallying claims of fraud and scams on the P2P platform submitted by Truist, PNC, U.S. Bank and Bank of America.

    By Dan Ennis • Oct. 4, 2022
  • Treasury Secreatry Janet Yellen peers behind her glasses on Capitol Hill.
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    Chip Somodevilla via Getty Images
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    Legislation needed to fill crypto oversight gaps, FSOC says

    The federal panel said more oversight of stablecoins and crypto spot markets for tokens is needed. It also recommended rules that would help prevent regulatory arbitrage in the sector.

    By Anna Hrushka • Oct. 4, 2022