Banking: Page 5


  • Shift4 Payments SpaceX Isaacman
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    Retrieved from Polaris Dawn on September 06, 2024
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    The fintech CEO who is becoming a frequent flier with SpaceX

    On Jared Isaacman’s second trip to space, the billionaire plans to become the first private spacewalker. Shift4 investors will need to follow space news to learn about it.

    By Justin Bachman • Sept. 9, 2024
  • Phone in hand with 'pay' button showing
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    Tero Vesalainen via Getty Images
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    Visa to upgrade pay-by-bank service in UK next year

    The card network plans to make the account-to-account service available to consumers for paying bills, like rent, but eventually for other uses too, such as digital streaming.

    By , Sept. 6, 2024
  • 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
  • A sign that reads "Discover" marks the entrance to the card company's headquarters in Illinois.
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    Scott Olson / Staff via Getty Images
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    Ex-Discover exec alleges age, gender bias in lawsuit

    Diane Offereins is suing the card network over roughly $7 million in clawed-back equity, claiming she was a “convenient scapegoat” for Discover’s card misclassification issue.

    By Caitlin Mullen • Sept. 5, 2024
  • A person in a white t-shirt works behind the counter at a cafe.
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    Scott Olson / Staff via Getty Images
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    Opinion

    CFPB’s EWA rule may undo progress

    “The CFPB’s plan to reclassify EWA as a loan could accidentally backfire on the agency by driving people right back to the payday lending industry,” writes one tech trade group professional. 

    By Adam Kovacevich • Sept. 5, 2024
  • Consumer Financial Protection Bureau Director Rohit Chopra testifies before the Senate Banking, Housing and Urban Affairs Committee April 26, 2022 in Washington, DC.
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    Win McNamee via Getty Images
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    CFPB slammed with EWA commentary

    The Consumer Financial Protection Bureau asked for public feedback on its earned wage access rule proposal and it got an earful.

    By Sept. 4, 2024
  • Two people walk past a Chase bank branch.
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    Spencer Platt via Getty Images
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    Viral JPMorgan Chase glitch is ‘fraud, plain and simple,’ bank says

    Some customers deposited bad checks and immediately withdrew funds before the checks bounced in a glitch that went viral on TikTok. Now, some users have holds on their accounts.

    By Gabrielle Saulsbery • Sept. 4, 2024
  • Person makes payment online with card
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    Creative via Getty Images
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    Paysafe taps FIS alum for CFO amid growth pivot

    The iGaming payments platform is looking to expand on its “robust” performance in the first half of the year with the appointment of new financial leadership.

    By Grace Noto • Sept. 4, 2024
  • A skyscraper with the name "U.S. Bank" atop it is shown.
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    Courtesy of U.S. Bank
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    U.S. Bank works to simplify SMB banking, payments

    A recent survey by the bank is leading it to bring its payments and banking tools together to work for small and mid-size business clients in a more simplified way.

    By Caitlin Mullen • Sept. 3, 2024
  • A hand holding a phone hovers the phone over a point-of-sale reader on a sitting on a countertop.
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    Pilar Olivares/Reuters

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    PayPal joins group investing $15M in Brazilian startup

    The digital payments pioneer expects the fintech to capitalize on the rise of buy now, pay later services in Brazil.

    By Tatiana Walk-Morris • Aug. 30, 2024
  • Governor Tony Evers sits at table holding up newly signed law, with others standing behind him.
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    Permission granted by David Schwarz
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    Tracker

    Earned wage access: Following states that have passed laws, or have legislation pending

    States began passing laws friendly to the industry in 2023 and have continued to pursue them this year, even after the federal government weighed in with a stricter standard.

    By Aug. 30, 2024
  • Federal Reserve Board Governor Christopher Waller sits at table speaking.
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    Sarah Silbiger via Getty Images
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    Fed official questions faster cross-border payments ties

    Federal Reserve Governor Christopher Waller suspects there could be more fraud and money-laundering if countries move too quickly to link their faster payments systems, he said at a conference.

    By Aug. 29, 2024
  • Money transfer app on mobile device
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    Permission granted by MoneyGram
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    MoneyGram, Adyen add chief technology officers

    The payments companies are bolstering their tech leadership as big changes roil the industry and stoke competition.

    By Aug. 28, 2024
  • Rohit Chopra, Director of the Consumer Financial Protection Bureau, giving a speech in an auditorium.
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    Anna Moneymaker via Getty Images
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    CFPB chides retailers on fees for cash back

    The federal agency surveyed major retailers and was concerned to find three retailers impose $90 million in fees annually when consumers ask for cash back with a debit or prepaid card purchase.

    By Aug. 27, 2024
  • Daniel Muller
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    Permission granted by Aeropay
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    Aeropay targets pay-by-bank evolution in US

    The Chicago fintech has moved from servicing small merchants to handling cannabis payments, and now it’s catering to gaming clients.

    By Aug. 26, 2024
  • Closeup of a person's hands holding several credit cards.
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    Joe Raedle / Staff via Getty Images
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    Consumers tap credit cards, loans to manage inflation: Fed report

    Gen Z and millennials were the age groups most likely to use loans and credit cards to respond to higher prices, a Federal Reserve research report said.

    By Tatiana Walk-Morris • Aug. 26, 2024
  • Federal Reserve Governor Christopher Waller sits on a chair on stage.
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    Lynne Marek/Payments Dive
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    Fed’s Waller eggs on payments research

    Federal Reserve Governor Christopher Waller encouraged attendees at a summer research workshop to keep exploring payments systems, and innovations to overcome frictions in financial markets.

    By Tatiana Walk-Morris and Lynne Marek • Aug. 23, 2024
  • Notice on counter next to cashier tells customers about credit card surcharge
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    Lynne Marek/Payments Dive
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    Opinion

    Surcharging doesn’t have to be a bad word

    “The time has come to rethink surcharging not as a necessary evil but as a strategic advantage that can benefit both businesses and customers,” writes a Billtrust executive.

    By Nick Izquierdo • Aug. 23, 2024
  • American Express logo on window
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    Scott Olson via Getty Images
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    Amex, Flutterwave partner in Nigeria

    The collaboration marks the latest move by American Express to expand its footprint in Africa, which is the world's second-largest continent by population.

    By Aug. 22, 2024
  • Stethoscope on bill statement.
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    9dreamstudio via Getty Images
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    U.S. Bank buys healthcare payments firm

    The bank’s acquisition of Tempe, Arizona-based Salucro Healthcare allows its Elavon unit to dig deeper into healthcare payments and billing services.

    By Aug. 22, 2024
  • Marqeta CEO Simon Khalaf
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    Permission granted by Money 20/20
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    Q&A

    Marqeta isn’t a ‘single-trick pony,’ CEO says

    The embedded finance firm’s partnerships with Varo Bank, Affirm, Visa and Zoho and its new office launch in Warsaw, Poland, underscore the expansion of the payment platform's market presence.

    By Rajashree Chakravarty • Aug. 22, 2024
  • Consumer Financial Protection Bureau Director Rohit Chopra
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    Anna Moneymaker / Staff via Getty Images
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    EWA providers crusade against CFPB rule proposal

    Earned wage access providers that backed state laws friendly to the industry are preparing for a fight over the Consumer Financial Protection Bureau’s plan to treat such payments like loans.

    By Aug. 21, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
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    Win McNamee / Staff via Getty Images
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    Capital One, Citi plan to join FedNow in ‘near future’

    The two big banks say they’ll soon connect to the Federal Reserve’s new instant payment system, even as other major banks remain on the sidelines.

    By Aug. 20, 2024
  • A smartphone displaying the Affirm app
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    Courtesy of Affirm
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    BNPL providers won’t face penalties during transition to new CFPB rule

    CFPB Director Rohit Chopra said in a blog post that the agency will not fine companies making a good faith effort to follow regulations treating buy now, pay later loans like credit card transactions. His remarks follow significant industry pushback.

    By Aug. 20, 2024
  • Mastercard and Visa credit card logos on the outside of a glass window
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    Justin Sullivan via Getty Images
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    Visa-Mastercard settlement claims deadline postponed

    Merchants seeking a piece of the $5.5 billion settlement now have until February 2025 to file claims, a federal judge overseeing the class action said.

    By Lyle Moran • Aug. 19, 2024
  • People walking the trade show floor at a conference.
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    Lynne Marek/Payments Dive
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    Mastercard to cut 1,000 employees in restructuring

    The card network is shrinking its workforce as it restructures the company to focus more resources on some international markets.

    By Aug. 19, 2024