CFPB takes aim at card late fees

The Consumer Financial Protection Bureau seems to think credit card late fees are out of control. Now, it plans to do something about it.

By Lynne Marek • June 23, 2022

Mastercard expands sonic branding with 'Priceless' album

The multi-artist album, a first-time marketing move by the card company, features original songs that incorporate Mastercard’s brand sound.

By Chris Kelly • June 22, 2022

Explore the Trendline➔

Payments industry seeks to keep pace with fraudsters

As losses from fraud in payments have climbed, companies are seeking new tools to combat illicit schemes.

By Payments Dive staff

Mastercard shareholders reject ghost guns proposal

A shareholder who is also a state official and candidate for Congress urged the card giant’s board to issue a report related to untraceable guns, but the proposal didn’t win enough support to pass at the company’s annual meeting.

By Caitlin Mullen • June 22, 2022

Discover eyes benefits of downturn

As smaller fintechs grapple with restructuring challenges, the card company expects there will be more opportunities for it in hiring talent and acquiring businesses.

By Caitlin Mullen • June 21, 2022

Card fees: the price hike nobody is talking about

"The Visa-Mastercard duopoly controls about 80% of the market share, allowing them to raise fees indiscriminately and with no formidable opposition," contends Doug Kantor, general counsel for the National Association of Convenience Stores.

By Doug Kantor • June 17, 2022

CFPB urges standardization in BNPL credit reporting

The agency isn’t pleased about the three big credit reporting bureaus taking different approaches to tracking consumer data for buy now-pay later financing.

By Lynne Marek • Updated June 17, 2022

Samsung debuts a new digital wallet with crypto

The new wallet will store IDs, cards and crypto, giving the South Korean company more leverage to compete with digital payment apps from tech giants Apple and Google.

By Tatiana Walk-Morris • June 16, 2022

PayPal expands BNPL payment options

PayPal is making a bigger move into buy now-pay later financing as competitors in that arena multiply. It will now offer a new monthly payment plan targeted at bigger purchases.

By Lynne Marek • June 15, 2022

Payments startups still gaining value, for now

Payments companies “led the pack in valuation increases” and had the biggest average increase in valuation, according to S&P Global Market Intelligence.

By Jonathan Berr • June 14, 2022

Payrailz gains traction in battle with big rivals

The six-year-old company said it expanded its client base by a third in the first quarter and will double last year’s count to 150 by the end of this year.

By Lynne Marek • June 14, 2022

Don't count crypto out just yet

Cryptocurrency skeptics were undoubtedly delighted by TerraUSD’s collapse last month, but there are plenty of signs already this month that the crypto era is far from over. Maybe it’s just beginning.

By Lynne Marek • June 10, 2022

Visa sees long runway with cash-to-card transition

For Visa, plenty of opportunity remains in cash-to-card digitization, offsetting any slowdown in consumer spending, CFO Vasant Prabhu said this week.

By Caitlin Mullen • June 9, 2022

Green Dot pays Republic Bank $13M to settle suit over failed acquisition

The payout comes atop a $5 million termination fee Republic received in January after Green Dot pulled out of a proposed $165 million purchase of the bank's tax refund processing unit.

By Dan Ennis • June 8, 2022

Foundation opines on crypto bill

The Stellar Development Foundation provided its take on this week’s bipartisan Senate bill to create a regulatory framework for cryptocurrencies.

By Robin Bradley • June 7, 2022

Customer satisfaction with card apps declines

"When it comes to delivering that level of personalization through high-touch digital channels, most banks and credit card providers are missing the mark," J.D. Power said in a new consumer survey report.

By Tatiana Walk-Morris • June 7, 2022

Lawsuits over Zelle pile up

Bank of America and Wells Fargo have both been sued recently by consumers who allege they were defrauded by scam artists using Zelle payments.

By Lynne Marek • June 6, 2022

Global Payments taps former BofA exec as next CFO

Josh Whipple, a former investment banker, is taking the top finance job as the company gears up for more acquisitions to capitalize on a drop in valuations.

By Maura Webber Sadovi • June 3, 2022

Amex isn't afraid of inflation

American Express CEO Steve Squeri is bullish on his cardholders' financial health and the broader economic situation, saying Thursday he expects inflation to moderate in 2023.

By Caitlin Mullen • June 3, 2022

Economic pressures stress payment fintechs

PayPal, Klarna and Bolt have chopped their workforces in the face of mushrooming macro-economic pressures, suggesting a potential fintech shakeout in the offing.

By Lynne Marek • June 2, 2022

Klarna taps Marqeta for card

The partnership comes as buy now-pay later providers seek to expand their customer bases amid market volatility and regulatory pressure.

By Tatiana Walk-Morris • June 2, 2022

NMI aims to equip banks with modern payments tech

As banks try to fend off competition from fintechs in merchant acquiring and processing, payments gateway NMI aims to capitalize by offering to bolster their services.

By Caitlin Mullen • June 1, 2022

Visa's CEO braces for legislation

Visa CEO Al Kelly said Sen. Dick Durbin is contemplating new legislation that would impose more pricing restrictions on the card industry. Kelly didn't elaborate and Durbin has been mum.

By Lynne Marek • May 31, 2022

Cross-border payments change as they rise: report

Consumers and businesses are more frequently using digital means to send payments around the world, according to Mastercard's second annual report on cross-border payments.

By Tatiana Walk-Morris • May 31, 2022

JPMorgan hires exec from PayPal to head fintech partnerships

Peggy Mangot joined the bank this month to lead a team responsible for designing and developing fintech partnership strategy at JPMorgan Chase's commercial bank.

By Anna Hrushka • May 27, 2022

CBDC, stablecoins, commercial bank money can coexist, Brainard says

The Federal Reserve vice chair, at a House Financial Services Committee hearing Thursday, also called for stricter regulation in the stablecoin space.

By Robin Bradley • May 27, 2022