CFPB proposes new oversight for payment tech firms

Google, Apple and 15 other big non-bank technology companies that provide digital wallets or payments apps would be subject to increased regulation if a new Consumer Financial Protection Bureau rule is approved.

By Lynne Marek , James Pothen • Nov. 7, 2023

FIS readies finances for Worldpay separation

Fidelity National Information Services took an accounting hit against its third-quarter results last year as it prepared to cast off its Worldpay unit.

By Lynne Marek • Nov. 7, 2023

Explore the 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

Micropayments poised to surge: Forrester

In the U.S., bank-based payments need to gain steam before micropayments can truly take off, but there are increasing signs that’s on track, said Forrester analyst Lily Varón.

By Caitlin Mullen • Nov. 7, 2023

Cross-border payment headaches burden consumers: Mastercard report

As international groups examine cross-border payment challenges, consumers and small businesses are worried about the costs and risks associated with sending money or receiving funds internationally.

By Tatiana Walk-Morris • Nov. 7, 2023

Visa launches cybersecurity training program

The card giant rolled out a cybersecurity apprenticeship program last year amid a talent deficit highlighted by the Biden administration.

By Tatiana Walk-Morris • Nov. 6, 2023

Apple spotlights payments in fourth-quarter earnings call

CFO Luca Maestri said the Cupertino, California-based company’s gains in payments were “very, very important” in order to get users of Apple’s hardware to also start paying for its software.

By James Pothen • Nov. 6, 2023

Block to shrink workforce

The company plans to cut about 8% of its workforce over the next year as Jack Dorsey steps up his efforts to improve efficiency and revive profits.

By Caitlin Mullen • Nov. 3, 2023

PayPal discloses SEC, CFPB probes

The digital payments company said it’s cooperating with a Securities and Exchange Commission probe of its stablecoin, and a Consumer Financial Protection Bureau inquiry related to bank transfers.

By Lynne Marek • Nov. 3, 2023

Breaking down buy now, pay later

After its pandemic-era growth spurt, buy now, pay later has gone mainstream in consumer payments. But changing economic conditions are forcing the installment trend to evolve.

By Caitlin Mullen • Nov. 3, 2023

Apple’s payments regulation woes mount

Regulators in the Netherlands, South Korea and Australia have targeted the tech giant’s payments business, and antitrust litigation is brewing in the U.S.

By James Pothen • Nov. 2, 2023

PayPal promotes Archie Deskus to CTO

The move expands the executive's oversight to include platform engineering teams, the company said Thursday.

By Roberto Torres • Nov. 2, 2023

Treasury Prime creates instant payment rail

The new payment rail allows fintech clients to move money between banks in milliseconds, the software company’s CEO said in an interview.

By James Pothen • Nov. 2, 2023

PayPal’s new CEO promises improvements

Alex Chriss, who took the top post in September, tapped a new chief financial officer this week and pledged to refocus the payment company's strategy.

By Lynne Marek • Nov. 2, 2023

PayPal tapping Google AI tool

Google CEO Sundar Pichai did not provide details on how PayPal used the tool, saying only that it helped “boost developer productivity.”

By James Pothen , Lynne Marek • Nov. 1, 2023

Global Payments delays new POS launch

The payments processor’s new point-of-sale software for retail and restaurant customers will launch in early 2024, not this year.

By Caitlin Mullen • Nov. 1, 2023

Western Union grapples with growth goals

The cross-border payments company plans to revamp its loyalty program early next year as part of a plan to jump-start growth.

By Lynne Marek • Nov. 1, 2023

Affirm sees CFPB supervision on the horizon

The buy now, pay later company expects to begin being supervised by the federal watchdog in the “immediate future.”

By Caitlin Mullen • Oct. 30, 2023

Consumers expect to use fewer digital wallets: report

As more merchants accept digital payments for in-store purchases, consumers are moving away from using multiple, single-use payment apps, McKinsey Senior Partner Marie-Claude Nadeau said.

By James Pothen • Oct. 30, 2023

Wex buys Payzer for $250M

The purchase continues a spate of payments industry acquisitions this month, and will let the fleet management services company cross-sell more software. 

By Lynne Marek • Oct. 27, 2023

PayPal to sell Happy Returns to UPS

The digital payments pioneer is shedding the returns software business under a new CEO just two years after acquiring it.

By Alejandra Carranza • Oct. 27, 2023

Ingenico, Jifiti partner to offer payment options

The payments acceptance company is racking up partnerships to expand services under Apollo Funds ownership.

By Tatiana Walk-Morris • Oct. 27, 2023

BNPL, EWA bills surface at House hearing

The legislative proposals emerged at a Wednesday hearing during which lawmakers queried witnesses on payments and fintech issues.

By Caitlin Mullen • Oct. 26, 2023

Fed proposes reduction in debit fee cap

The Federal Reserve Board proposed a rule change that would slash the amount card issuers can charge merchants for processing a debit transaction. The proposal also calls for periodic updates to the fee cap in the future.

By Lynne Marek • Oct. 25, 2023

PayPal taps Fiserv as ‘core’ payments partner

Fiserv CEO Frank Bisignano said Tuesday that his company is now PayPal’s “core U.S. partner for payment services.”

By Caitlin Mullen • Oct. 25, 2023

Visa leans into CFPB proposal

The card network’s CEO on Tuesday backed a recent Consumer Financial Protection Bureau proposal on open banking, but was more circumspect about Fed moves on debit rules.

By Lynne Marek • Oct. 25, 2023