Shopify taps Ramp to save on corporate expenses

E-commerce company Shopify is adopting more artificial intelligence by automating its corporate expenses through Ramp.

By James Pothen • Aug. 1, 2023

Fiserv racks up merchants for pay-by-bank services

The Federal Reserve’s new instant payments system is driving more merchant interest in pay-by-bank capabilities for consumers, a Fiserv executive said.

By Caitlin Mullen • July 31, 2023

Explore the 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

Fiserv, Amazon link rewards programs

The new offering is available to card holders through 200 financial institutions, with an expansion of the partnership expected by the end of the year.

By James Pothen • July 28, 2023

Upgrade buys BNPL firm Uplift for $100M

The deal, Upgrade’s first acquisition, more than doubles the neobank’s customer base by adding 3.3 million users to its existing 2.5 million, CEO Renaud Laplanche said.

By Anna Hrushka • July 27, 2023

Mastercard waits on FedNow

While Mastercard participates in real-time payment systems in other countries, it’s holding back for now on the new U.S. instant payments network.

By Lynne Marek • July 27, 2023

PayPal deepens Microsoft partnership

In an expansion of a prior tie, software colossus Microsoft will increase the ways customers can use PayPal tools to purchase goods and services.

By Lynne Marek • July 26, 2023

Visa CEO bashes surcharges

“It’s not a great customer experience,” Visa CEO Ryan McInerney said of merchant surcharges, while speaking on an earnings webcast Tuesday.

By Lynne Marek • July 26, 2023

Apple Pay Later makes gains: survey

Apple Pay Later is gaining traction with consumers after a rollout earlier this year, according to a survey from JD Power.

By James Pothen • July 25, 2023

Amex pays $15M OCC penalty

The card issuer paid the fine for failing to properly monitor a third-party affiliate and in connection with its courting of small business clients, the agency said.

By Lynne Marek • July 25, 2023

Payments venture funding skids

Venture capital interest in payments startups plunged in the second quarter, according to a CB Insights report.

By Lynne Marek • July 24, 2023

Will payments M&A pick up after slow start?

Despite a flurry of payments acquisitions recently, deal activity was slow in the first half of the year and some factors are still suppressing M&A.

By Caitlin Mullen • July 24, 2023

Amex corporate client growth ebbs

U.S. commercial card services volume grew 2% in the second quarter, relative to the year-ago period, American Express said in a Friday earnings report.

By Caitlin Mullen • July 21, 2023

Whole Foods to deploy Amazon One chainwide

The chain plans to offer the palm recognition and payment system at all of its more than 500 stores by the end of 2023, Amazon announced Thursday.

By Sam Silverstein • July 20, 2023

Discover facing FDIC probe

The company also disclosed during its 2Q earnings report that a pricing issue affected merchants and merchant acquirers, some of whom will get refunds.

By Caitlin Mullen • July 20, 2023

CCCA opponents brace for defense bill move

Opponents of the Credit Card Competition Act proposal are gearing up to fight the bill as an attachment to the National Defense Authorization Act.

By Lynne Marek • July 19, 2023

CFPB, European regulator open a dialogue on digital rules

Buy now, pay later platforms, artificial intelligence and other developments “if left unchecked, could increase consumers’ exposure to fraud and manipulation,” the regulators said Monday.

By Rajashree Chakravarty • July 18, 2023

Mastercard hires new chief legal officer

Rob Beard, who will also serve as head of global policy, brings M&A and capital markets experience to his new role at the card network company.

By Lyle Moran • July 18, 2023

Synchrony braces for late fee rule

The CEO of the private label card issuer expects a final rule on the CFPB’s proposed credit card late fee cap later this year, and litigation could follow, he said.

By Caitlin Mullen • July 18, 2023

Frictionless checkout becomes increasingly popular at stadiums

Allegiant Stadium in Las Vegas just added its 10th frictionless store as the trend at sporting ventures expands.

By Jessica Loder • July 18, 2023

Fintech funding drops in 2Q

While there was a drought of venture capital for payments startups and other fintechs in the first half of the year, industry reports spot potential for new flows in the second half.

By Lynne Marek • July 18, 2023

BNPL app downloads decline

In the U.S., total BNPL app downloads for the second quarter fell 19% compared to the year-ago period, Bank of America Securities analysts said.

By Caitlin Mullen • July 17, 2023

Will other states mimic New Jersey’s credit card surcharge?

The state’s legislature passed a bill recently to cap credit card surcharges. One experienced payments executive believes that’s the wave of the future.

By Lynne Marek • July 17, 2023

Consumers, SMBs prize security in cross-border payments: survey

Trust and transparency of fees were other key factors for consumers and businesses choosing a cross-border payment provider, a Swift survey revealed.

By Caitlin Mullen • July 14, 2023

FIS, GTCR craft Worldpay escape hatch

In its recent sale of an ownership stake in Worldpay, FIS agreed that the new joint venture with GTCR could be put up for sale a handful of years after they close the deal.

By Lynne Marek • July 13, 2023

Bank of America fined $250M over fake accounts, junk fees

Regulators say Bank of America opened credit card accounts without customers’ consent and misled consumers about rewards for card applications.

By Anna Hrushka • July 11, 2023