Panel blasts fintechs for missing PPP fraud

Fintechs like Womply and Blueacorn provided the “paths of least resistance” for fraudsters bilking the federal Paycheck Protection Program, a House subcommittee said Thursday.

By Anna Hrushka • Dec. 2, 2022

FIS, Fiserv could benefit from credit legislation

Legislation aimed at creating competition for card giants Visa and Mastercard could be a boon for payments companies FIS and Fiserv.

By Caitlin Mullen • Nov. 30, 2022

Explore the Trendline➔

Top 5 stories from Payments Dive

The digital evolution of payments is roiling the industry, forcing companies to rethink pricing schemes and revamp corporate strategies. Embedded payments, earned wage access, real-time systems and other innovations will transform the business.

By Payments Dive staff

Banks discuss refund rule for customers defrauded on Zelle: report

Under measures being discussed, banks would share liability inside Zelle’s system and guarantee to reimburse one another, sources told The Wall Street Journal.

By Anna Hrushka • Nov. 28, 2022

Fiserv adopts new executive severance policy

The payments company’s board adopted the executive severance policy this week even though it opposed a similar shareholder proposal in May.

By Caitlin Mullen • Nov. 23, 2022

JPMorgan’s crypto wallet trademark is approved

The green light comes more than two years after the bank submitted paperwork to the U.S. Patent and Trademark Office, and is at odds with some statements by its CEO.

By Dan Ennis • Nov. 22, 2022

BNPL connected to overdraft charges, card fees: study

Heavy users of buy now-pay later ― which researchers said inspires consumers to spend beyond their means — showed larger declines in financial health, a recent academic study determined.

By Caitlin Mullen • Nov. 22, 2022

Credit swipe-fee relief needed

“Congress has a responsibility to bring much-needed transparency and competition” to credit card swipe fees, writes the chairman of the trade association for 7-Eleven franchisees.

By Sukhi Sandhu • Nov. 18, 2022

Can Congress come together on crypto?

Perhaps even a divided Congress can make bipartisan headway in crafting a regulatory framework for crypto following the FTX failure.

By Lynne Marek • Nov. 17, 2022

Mastercard predicts Black Friday bonanza

The card network company said in a report this week that it expects a Black Friday “shopping blitz” will lead retail sales to jump 15% over last year. 

By Jonathan Berr • Nov. 16, 2022

CEOs Sound Off: Payments forecasts for 2023

The CEOs of Brex, Splitit and Paystand weigh in on what’s to come in the year ahead, commenting on the trends, challenges, regulation and M&A.

By Caitlin Mullen , Lynne Marek • Nov. 16, 2022

Discover concludes student loan probe

While the card company said it has finished its own investigation into its student loan servicing practices, it may still be subject to regulatory probes.

By Caitlin Mullen • Nov. 16, 2022

Nacha, Fed, Clearing House offer late night payments

The Federal Reserve and The Clearing House have launched late night ACH payments, speeding up the processing of some payments.

By Tatiana Walk-Morris • Nov. 16, 2022

Fiserv ‘maniacally focused’ on expense management

When asked Monday how Fiserv would adapt to an economic downturn, CEO Frank Bisignano said the company knows what levers to pull “to manage the expense line.”

By Caitlin Mullen • Nov. 15, 2022

FTX files for bankruptcy, CEO steps down

FTX.com’s assets were frozen in the Bahamas, where the company is headquartered. Crypto lender BlockFi also paused withdrawals because of its exposure to FTX.

By Gabrielle Saulsbery • Nov. 11, 2022

Musk pushes Twitter toward payments

“Give them some amount of money, like ten bucks or something, that they can send anywhere in the system,” said Twitter’s new owner, Elon Musk. “We need money transfer licenses for that, which we’ve applied for.”

By Anna Hrushka • Nov. 11, 2022

CBDC could accelerate cross-border payments: NY Fed

Researchers designed a prototype digital currency that cleared cross-border transactions within 10 seconds, but they said the study doesn’t endorse a CBDC or assume the Fed will issue one.

By Rajashree Chakravarty • Nov. 10, 2022

Preparing for the CBDC era

Central bank digital currencies would allow for faster cross-border payments that would “help boost trade within the region and with the rest of the world,” an Equinix executive writes.

By Lance Homer • Nov. 9, 2022

How active shooters pay for guns

Payment methods used by active shooters to acquire guns are becoming part of the U.S. dialogue about such incidents. A Payments Dive series tracking those details seeks to inform the discussion.

By Payments Dive staff • Updated Dec. 13, 2022

FedNow gives fee holiday in 2023

Federal Reserve banks introducing the new instant payments system next year will jettison customer transfer and participation fees for the launch.

By Lynne Marek • Nov. 7, 2022

Warren urges CFPB crackdown on Zelle fraud

Sen. Elizabeth Warren told the Consumer Financial Protection Bureau that it should amend Regulation E of the Electronic Fund Transfer Act “to increase consumer protection.”

By Anna Hrushka • Oct. 31, 2022

Papaya builds cross-border payroll services

The well-funded startup is taking on big clients and rivals in seeking to offer cross-border payroll payment services, with checks sent to workers in 72 hours.

By Lynne Marek • Oct. 28, 2022

CFPB aims to give ‘open banking’ rule teeth in 2024

The bureau's chief, Rohit Chopra, laid out the timeline this week for a rule change meant to make it easier for consumers to break up with their banks.

By Gabrielle Saulsbery • Oct. 26, 2022

FedNow will be a ‘public utility model,’ Waller says

The central bank governor equated the nascent system with an interstate highway on which private companies will provide "on-ramps" and "off-ramps."

By Lynne Marek • Oct. 26, 2022

Fintechs party like it’s 2021 at Money 20/20

Thousands of payments and fintech professionals at the Money 20/20 conference in Las Vegas this week are racing ahead with high-growth businesses, even as a drop-off in capital threatens to ruin the celebration.

By Lynne Marek • Oct. 25, 2022

CFPB seeks to jettison ‘junk data’ in credit reports

Companies must have policies and procedures to detect and remove inconsistencies and “obvious impossibilities” in credit data, the CFPB said.

By Anna Hrushka • Oct. 24, 2022