Technology: Page 2

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    Tero Vesalainen via Getty Images
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    AI increases fraud risk, fintechs say

    Financial firms monitor for fraud by looking for unusual activity, but an artificial intelligence model can be trained to transact like a real person.

    By • Oct. 31, 2024
  • Close up of easy payment by credit card or smartphone application Greenhouse workers selling pottered flowers.
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    whyframestudio via Getty Images
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    Global Payments sells AdvancedMD for $1.1B

    The payments processor divested the unit as part of a plan to streamline the company’s business, and it’s targeting more sales, CEO Cameron Bready said.

    By • Oct. 30, 2024
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    kentoh via Getty Images
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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
  • Money transfer app on mobile device
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    Permission granted by MoneyGram
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    MoneyGram cites cash-to-digital conversion opportunity

    A MoneyGram executive speaking at the Money 20/20 conference cooed about the trillion-dollar opportunity to lure cash users to digital options, but didn’t mention the company’s recent systemwide outage.

    By Lynne Marek and Patrick Cooley • Oct. 30, 2024
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    Retrieved from Lynne Marek on March 04, 2022
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    MoneyGram replaces CEO, naming former Walmart executive to the role

    The money transfer company named the new CEO just weeks after a cyberattack led to a systemwide shutdown of its services for several days.

    By • Oct. 29, 2024
  • Digital payments
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    Courtesy of Adyen
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    Finix eyes competition with rivals like Stripe

    The payment processor said Thursday that it raised $75 million and is seeking to grab a bigger slice of a payments market dominated by larger rivals.

    By • Oct. 25, 2024
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    Stock via Getty Images
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    Payments trade groups caution World Bank on digital infrastructure

    U.S. payments associations urged the World Bank this week to consider interoperability and private sector involvement in its development of a digital public infrastructure.

    By Tatiana Walk-Morris • Oct. 24, 2024
  • Hands holding a paycheck with a laptop in the background.
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    AndreyPopov via Getty Images
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    California to begin oversight of EWA

    The state instituted regulations Tuesday that will require earned wage access providers to register and be regulated as of next February.

    By • Oct. 23, 2024
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    Shang-Jie Hsu via Getty Images
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    Pipe pursues international expansion

    The digital cash advance provider to small businesses deepened its ties to the British firm GoCardless this week as part of its quest to expand outside the U.S. market.

    By • Oct. 23, 2024
  • Consumer Financial Protection Bureau Director Rohit Chopra testifies before the Senate Banking, Housing and Urban Affairs Committee April 26, 2022 in Washington, DC.
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    Win McNamee via Getty Images
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    CFPB issues final rule on open banking

    In a change from last year’s proposal, payment apps are included under the rule. Financial institutions with less than $850 million in assets are exempt.

    By Dan Ennis • Oct. 22, 2024
  • Stripe CEO Patrick Collison
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    Matt Winkelmeyer via Getty Images
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    Stripe to buy stablecoin company Bridge for reported $1.1 billion

    The CEOs for Stripe and Bridge confirmed the news on the social media platform X on Monday, but offered few details on the deal.

    By • Oct. 21, 2024
  • The exterior of the Fiserv Forum.
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    Daniel Boczarski via Getty Images
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    Fiserv may grab competitive edge with new bank charter

    The payments processor can undercut rivals on price because it won’t be paying bank fees, say industry consultants.

    By • Oct. 21, 2024
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    Permission granted by Dave
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    Employees who lean on EWA face increased fees

    Many employees who use earned wage access services are high-frequency customers who end up with higher overdraft costs, said a Center for Responsible Lending report.

    By Tatiana Walk-Morris • Oct. 18, 2024
  • Apple introduces tap to pay on iPhone.
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    Courtesy of Apple
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    Apple, Klarna collaborate on BNPL

    The tech giant has linked with the Swedish buy now, pay later provider to offer Apple Pay customers in the U.S. and U.K. another payment option.

    By • Oct. 18, 2024
  • 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 taps AI analytics partner to add merchant services

    The card network giant has signed a new multi-year agreement with the marketing research firm Analytic Partners to deliver advertising insights to merchant clients.

    By • Oct. 16, 2024
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    Courtesy of Mastercard
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    Payments players tap M&A to build tech stacks

    The Fed’s recent interest rate cut could spur even more deal-making in the remaining months of the year and into 2025. Mastercard, Global Payments and Payoneer are among the companies that have bought businesses this year.

    By Shefali Kapadia • Oct. 16, 2024
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    Vadym Petrochenko via Getty Images
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    Payments investments rise worldwide

    Although venture capital investment in young payments firms grew globally during the third quarter, compared with the same period last year, that wasn’t the case for U.S. firms.

    By • Oct. 15, 2024
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    Moowan Photo via Getty Images
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    Worldpay taps Aeropay for gaming payments assist

    The two payments companies have teamed up to provide account-to-account payments for gaming merchants and their customers.

    By • Oct. 14, 2024
  • A sign is posted in front of Nvidia headquarters on February 22, 2023 in Santa Clara, California.
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    Justin Sullivan / Staff via Getty Images
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    Stripe partners with Nvidia, Pepsi and Rivian

    The payments software provider announced a slew of new partnerships on Wednesday, also with Amazon and AMC Networks.

    By • Oct. 11, 2024
  • Treasury Department Undersecretary Nellie Liang
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    Win McNamee via Getty Images
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    Treasury official calls for new regulatory framework

    The department’s undersecretary for domestic finance, Nellie Liang, suggested state oversight of money transmitters was outdated in an era of electronic payments.

    By • Oct. 11, 2024
  • A photo of a person using a Grabango machine to check out.
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    Courtesy of Grabanco
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    Automated-checkout company Grabango shuts down

    The tech company was unable to secure the funding needed to continue operating, a spokesperson said.

    By Brett Dworski , Jeff Wells • Oct. 11, 2024
  • Woman standing behind counter and cash register serves ice cream cone.
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    Permission granted by Lynne Marek
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    Toast increases processing fees, adds surcharge feature

    The digital restaurant payments provider raised processing fees for some restaurant clients. Separately, it’s aiding clients in adding surcharges on their customers’ orders.

    By • Oct. 9, 2024
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    Creative via Getty Images
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    Global Payments embarks on ‘transition’ year

    The payments processor expects to undertake possible divestitures, beginning this year, as part of an effort to jump-start revenue in subsequent years.

    By • Oct. 9, 2024
  • Money moving through cyberspace.
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    Viorika via Getty Images
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    MoneyGram attack exposed sensitive customer data

    The attack led to a days-long outage in September. The money transfer firm hasn’t described the nature of the incident or said how many people have been impacted.

    By Matt Kapko • Oct. 9, 2024
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    SDI Productions via Getty Images
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    Opinion

    Healthcare’s paper check disease

    “The persistence of paper checks for patient refunds is not just an inconvenience — it's a symptom of a larger problem that threatens the very sustainability of healthcare organizations,” one software firm CFO writes in this opinion piece.

    By Seton Marshall • Oct. 8, 2024
  • The exterior of the Fiserv Forum.
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    Daniel Boczarski via Getty Images
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    Fiserv teams with Canadian company on open banking

    Fiserv has allowed Zūm Rails to use its embedded finance system to bring open banking and instant payments to Fiserv’s U.S. business customers.

    By • Oct. 7, 2024