Banking: Page 66

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    Credit card alternatives rise

    Consumers are pulling back on use of their primary credit cards in favor of other payment methods, according to a survey from J.D. Power.

    By Caitlin Mullen • Aug. 18, 2022
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    Sean Gallup via Getty Images
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    Western Union, Paymentus CFOs depart

    The companies are the latest payments firms to announce a CFO change as the sector faces macroeconomic headwinds.

    By Elizabeth Flood • Aug. 18, 2022
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    Trendline

    Digital wallets proliferate as features advance

    As more companies aim to offer digital wallets the rise in competition is sharpening their features.  

    By Payments Dive staff
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    Courtesy of Walmart
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    Walmart eyes payments opportunities

    With PayPal’s former CFO on board, the retail behemoth is assessing its prospects in the payments arena near and far.

    By • Aug. 18, 2022
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    Remitly to buy Rewire for $80M

    Cross-border payments company Remitly said it would buy the Israeli financial services company using a mix of cash and stock. 

    By • Aug. 17, 2022
  • Jason Gardner, Marqeta
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    Courtesy of Marqeta
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    Marqeta executive exodus follows IPO

    Of 10 top executives leading the company at its IPO last year, only three remain, including CEO Jason Gardner, who said he plans to exit that role and become executive chairman.

    By Jonathan Berr , • Aug. 17, 2022
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    Paysign aims to grow prepaid card services for drugs

    Paysign aims to boost its prepaid card services for consumers shouldering the high cost of pharmaceuticals by offering drugmakers transparent pricing for such services.

    By Joe Burns • Aug. 16, 2022
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    alvarez via Getty Images
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    Circular Board, Mastercard unveil small business card

    As a slew of fintechs try to capture small business customers, Circular Board’s Hello Alice brand is targeting entrepreneurs from marginalized backgrounds.

    By Tatiana Walk-Morris • Aug. 16, 2022
  • The interior of a Central Payments office location
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    Permission granted by Melissa Otten, Director of Marketing & Communications, Central Payments & Falls Fintech
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    Central Payments snags $30M

    The banking-as-a-service company wants to expand its reach as it spins off from the Central Bank of Kansas City.

    By Tatiana Walk-Morris • Aug. 15, 2022
  • A smartly-dressed male auto sales representative is showing a digital tablet to a young Black couple in a car showroom.
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    Auto dealers tap U.S. Bank for real-time payments

    U.S. Bank is using The Clearing House’s real-time payments system to offer auto dealers the option for speedier delivery of loan funding.

    By Tatiana Walk-Morris • Aug. 12, 2022
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    Drew Angerer via Getty Images
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    Green Dot battles Uber, loses contracts

    Green Dot disclosed in its recent quarterly report that it’s in a dispute with ride-share company Uber over their agreements. It also noted its failure to renew contracts with several other customers.

    By • Aug. 11, 2022
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    BNPL faces headwinds from rising rates, inflation: Fitch

    Higher interest rates may make it more expensive for buy now-pay later providers to offer financing while inflation may put off lower-income consumers.

    By Debbie Carlson • Aug. 10, 2022
  • Paystamd ,buys Mexico's Yaydoo
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    Courtesy of Erica Zeidenberg
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    Paystand buys Yaydoo in Latin American push

    Paystand’s purchase of the Mexico-based company was its first acquisition, and the company said it’s prepared to do more deals.

    By Jonathan Berr • Aug. 9, 2022
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    Payments buyout burst in August signals more M&A

    A burst of acquisitions in the payments industry this month portend a jump in deal-making for the remainder of the year.

    By • Aug. 9, 2022
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    Joe Raedle via Getty Images
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    Consumer spending rises despite inflation: Mastercard

    While card issuers are bracing for economic headwinds, consumer spending has continued to rise recently, including for apparel, jewelry and travel.

    By Tatiana Walk-Morris • Aug. 8, 2022
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    Column

    Let the credit card battle begin

    Banks that issue credit cards and the retailers who hate their fees are lining up allies on Capitol Hill to fight over a new bill that calls for more competition in the industry. Visa and Mastercard are at the center of the conflict.

    By • Aug. 8, 2022
  • Hand with phone showing Visa card image passes a hand holding another phone
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    Courtesy of Megan Cheung
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    Visa, Mastercard react to Pornhub ruling

    The two card companies took action against an advertising entity tangled up in a California lawsuit against the pornography website, which the plaintiff alleges illicitly posted images of her when she was a teenager.

    By • Aug. 5, 2022
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    Payments companies swap out CFOs

    Amid macroeconomic pressures, FIS, PayPal, MoneyGram and Shift4 all appointed new CFOs this week. The trend may also mean they’re paying more for them.

    By Caitlin Mullen • Aug. 5, 2022
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    FIS extends tie with Chargebacks911 to fight fraud

    The partnership is aimed at arming merchants with digital tools to reduce chargebacks, cut costs and combat fraud.

    By Jonathan Berr • Aug. 5, 2022
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    B2B drives Q2 payments growth: Nacha

    Healthcare and peer-to-peer payments also rose during the quarter over last year, the clearing house that runs the national automated system said.

    By Tatiana Walk-Morris • Aug. 3, 2022
  • PayPal CEO Dan Schulman walking in front of trees
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    Drew Angerer via Getty Images
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    PayPal takes new direction with Elliott

    The payments pioneer is fine-tuning its strategy with Elliott Investment Management, which now has a $2 billion investment in the company.

    By • Aug. 3, 2022
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    Wex profits soar on rising fuel prices

    Wex is benefiting from a jump in fuel prices, given its management of fleet credit cards, but its customers face more economic hurdles. 

    By • Aug. 2, 2022
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    Amex rolls out B2B digital payment tool

    American Express cited data showing nearly two-thirds of small and mid-sized business owners expect increases in their cross-border spending.

    By Caitlin Mullen • Aug. 2, 2022
  • Stickers with the visa and mastercard logos on the exterior window of a store.
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    Justin Sullivan via Getty Images
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    Legislation aimed at Visa, Mastercard lands

    A new bill to curb Visa and Mastercard’s dominance of credit payments is likely to rev up a long-time battle between merchants and card companies.

    By • July 29, 2022
  • A person holding a shopping cart stands in front of a row of refrigerators stocked with food at a grocery store.
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    Michael M. Santiago via Getty Images
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    Card CEOs react to macroeconomic threats

    Amid talk of a recession, executives with Visa, Mastercard, American Express and Discover are keeping a close eye on inflation, consumer demand and unemployment levels.

    By Caitlin Mullen , • July 29, 2022
  • Sen. Dick Durbin with his hand up and another congressional colleague in the background.
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    Durbin to lob bill at Visa, Mastercard

    Sen. Dick Durbin is poised to make good on his long-time threat to further rein in the two big U.S. credit card companies Visa and Mastercard with legislation aimed at increasing competition.

    By • July 28, 2022