Banking: Page 62
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Sponsored by JusttMoving toward a services-oriented future in acquiring
The future growth of the acquiring business is in providing value-added services to small and medium enterprises.
Dec. 13, 2021 -
Megan Quinn/Payments Dive
Crypto execs urge regulation tailored to risks
They told lawmakers at a Wednesday hearing on Capitol Hill that nothing short of U.S. leadership in the field of digital assets is at stake.
By Dan Ennis • Dec. 10, 2021 -
Explore the Trendline➔
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TrendlineCross-border payments targeted for upgrades
When it comes to cross-border payments, businesses, non-profits and governments alike are determined to increase the speed of transactions and cut the cost.
By Payments Dive staff -
Jeenah Moon via Getty Images
Microsoft shoppers get another BNPL option
Microsoft tapped Citizens Bank to offer its customers more options for spreading out their purchases as the buy now-pay later space becomes crowded.
By Caitlin Mullen • Dec. 10, 2021 -
Permission granted by Discover
Discover mulls more BNPL services
Discover Financial is brainstorming how to extend its buy now-pay later services beyond a partnership with Sezzle, CEO Roger Hochschild said at an investors' conference this week.
By Lynne Marek • Dec. 9, 2021 -
Courtesy of PayPal
Bank groups spell out payments industry concerns
"Consumers can make better-informed choices if they more fully understand a big tech’s ability to collect and use a consumer’s financial transaction data, or directly and regularly access their bank account using their sign in and password," the trade groups say.
By Jonathan Berr • Dec. 8, 2021 -
Chip Somodevilla via Getty Images
New York Fed, BIS partner on fintech research center
The innovation hub is meant to support the U.S. central bank's analysis of digital currencies, including CBDCs, and to help make cross-border payments faster and less expensive, Fed Chair Jerome Powell said.
By Robin Bradley • Dec. 7, 2021 -
Steve Jennings via Getty Images
Diem co-creator Marcus to leave Facebook parent Meta
David Marcus, who has spent the past three years working on the social media giant’s stalled cryptocurrency project, Diem, said he is leaving the company at the end of the year to pursue other projects.
By Anna Hrushka • Dec. 2, 2021 -
Joe Raedle via Getty Images
Square takes a new moniker: Block
No sooner does Jack Dorsey arrive full-time at Square than the company decides it needs a new name. The corporate parent will become Block, but keep the Square brand for its digital payments business.
By Lynne Marek • Dec. 1, 2021 -
H. Armstrong Roberts via Getty Images
Wise gears up for U.S. expansion
Wise plans to expand in North America next year, increasing its U.S. workforce by 150 employees, or more than 40 percent, including at a new office in Austin, the company said.
By Jonathan Berr • Dec. 1, 2021 -
Arturo Holmes via Getty Images
Will the Amazon-Visa dispute spill over to other credit card companies?
While Visa's rivals are dependent on interchange fees like those at the center of the Amazon-Visa fight, they also might benefit if Amazon tosses some business in new directions.
By Jonathan Berr • Nov. 30, 2021 -
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FIS may sell unit to Symphony Tech for $2B: Report
Mega payments processor FIS is in discussions about the possibility of selling part of its capital markets unit to investment firm Symphony Technology Group, according to a report from Bloomberg. The transaction could be valued at about $2 billion, the outlet reported, citing unnamed sources.
By Lynne Marek • Nov. 28, 2021 -
Courtesy of Mastercard
Mastercard buys payments processor Arcus FI, expanding in Latin America
Mastercard said the acquisition will allow it to "help support the delivery of bill pay solutions and other real-time payment applications across Latin America."
By Jonathan Berr • Nov. 24, 2021 -
Courtesy of KeyBank
KeyBank buys XUP to bolster merchant payments services
The acquisition will help the bank address challenges regarding its legacy infrastructure, and create a streamlined experience for its merchant clients, KeyBank’s head of commercial product and innovation said.
By Anna Hrushka • Nov. 24, 2021 -
Permission granted by Citigroup
Citi names crypto team chief, plans hiring for digital asset effort
Puneet Singhvi will become the head of digital assets for Citi's institutional clients group Dec. 1, according to an internal memo.
By Robin Bradley • Nov. 24, 2021 -
Dan Kitwood via Getty Images
Bank regulators to roll out crypto guidance in 2022
Tuesday's two-page report didn’t provide many details on how banks should navigate digital assets, but regulators said the industry should expect to see the agencies roll out guidance throughout next year.
By Anna Hrushka • Nov. 24, 2021 -
RyanJLane via Getty Images
Deep DivePayment Choice Act wins bipartisan backing
New Jersey Democrat Rep. Payne is trying to preserve cash as a form of payment and collecting support across the aisle, even as the possibility of a U.S. digital dollar gains traction.
By Lynne Marek • Nov. 23, 2021 -
Chip Somodevilla via Getty Images
Biden to nominate Powell as Fed chair
Lael Brainard, Powell's chief rival for the role, will be nominated as vice chair. Biden intends to announce nominees for three open Fed slots in early December, the White House said Monday.
By Dan Ennis • Nov. 22, 2021 -
Permission granted by U.S. Bank
U.S. Bank to buy payments fintech TravelBank
After a yearlong partnership, the Minneapolis lender opted to buy the fintech outright, in a deal reportedly worth $200 million.
By Robin Bradley • Nov. 17, 2021 -
Column
Ripple puts SEC on losing end in crypto regulation proposal
The company last week said the existing framework can be adapted to fit crypto and touted legislation that would de-emphasize the SEC's role in favor of the CFTC.
By Dan Ennis • Nov. 17, 2021 -
Courtesy of Mastercard
Mastercard expects holiday sales to be jolly for merchants
Finding a deal this holiday season will be a challenge for consumers as retailers grapple with shortages, Mastercard says.
By Jonathan Berr • Nov. 16, 2021 -
Tero Vesalainen via Getty Images
CFOs opt for digital payments during pandemic
Digital payments have grown in popularity because of their role in helping ensure a healthy balance sheet, a survey of some 400 CFOs revealed.
By Jim Tyson • Nov. 11, 2021 -
Courtesy of Mastercard
Mastercard plans payments push
The company expects payments to grow at a faster rate than its core card business.
By Jonathan Berr • Nov. 11, 2021 -
Sean Gallup via Getty Images
Amazon will accept Venmo next year
"Pay with Venmo is one of the key revenue drivers for Venmo going forward," PayPal CEO Dan Schulman said.
By Jonathan Berr • Nov. 9, 2021 -
Chip Somodevilla via Getty Images
Toomey cautions against proposal to regulate stablecoin issuers as banks
"I think we have to really think long and hard before we put some onerous regulatory regime on a new technology," the Republican senator from Pennsylvania said.
By Anna Hrushka • Nov. 8, 2021 -
Alex Wong via Getty Images
Payments heads toward record venture funding year: CB Insights
Payments startups are sopping up what's likely to be a record amount of venture capital this year, as the industry collects money that's transforming the financial sphere.
By Lynne Marek • Nov. 5, 2021
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