BIS advances oversight structure for broader faster payments ecosystem

In the interest of faster, cheaper and more transparent cross-border payments, the Bank of International Settlements last week produced an interim report aimed at developing a governance structure for an interlinked faster payments system.

By Lynne Marek • Oct. 23, 2023

Why payments to government agencies should be easier

“Increasingly, government agencies — and the people they serve — need a payments system that is connected across departments and jurisdictions,” writes one payments executive.

By Sloane Wright • Oct. 23, 2023

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Cross-border payments targeted for upgrades

When it comes to cross-border payments, businesses, non-profits and governments alike are determined to increase the speed of transactions and cut the cost.

By Payments Dive staff

Do low-income consumers need more digital payments protection?

“Big gaps in the law” are leaving the financially vulnerable open to harms from digital payments, one law professor argues in a recent Georgetown Journal on Poverty Law & Policy paper.

By James Pothen • Oct. 23, 2023

Same-day payments keep climbing: Nacha

Businesses are increasingly turning to same-day ACH payments this year, according to Nacha, a national clearinghouse that manages electronic money movement.

By Tatiana Walk-Morris • Oct. 20, 2023

CFPB unveils open banking proposal

The rule makes it easier for consumers to share deposit account and credit card data with fintechs, the Consumer Financial Protection Bureau said.

By Anna Hrushka • Oct. 20, 2023

Square adds generative AI tools for sellers

The point-of-sale provider's latest features include menu and website copy generators, which are designed to automate operations and increase efficiency.

By Aneurin Canham-Clyne • Oct. 19, 2023

Fed’s Bowman urges ‘responsible innovation’

Federal Reserve Governor Michelle Bowman said the U.S. already has a “safe and efficient payment system” that could be disrupted by CBDCs or stablecoins.

By James Pothen • Oct. 19, 2023

Plaid names first CFO

The move comes as the 10-year-old fintech company is reportedly considering going public after its failed agreement to be acquired by Visa.

By Alexei Alexis • Oct. 19, 2023

How convenience chain Minuteman is optimizing self checkout

After a retrofit at a high-volume store failed, the North Carolina-based convenience store company went back to the drawing board and improved the design.

By Jessica Loder • Oct. 18, 2023

ACI, states reach $20M in settlements over payments mishap

The company is being penalized for unauthorized withdrawals, and attempted withdrawals, from mortgage customer accounts in April 2021.

By Tatiana Walk-Morris • Oct. 18, 2023

Payments funding slips further

While investments in payments startups dropped during the third quarter, U.S. companies attracted the most funding, according to a CB Insights report.

By Caitlin Mullen • Oct. 18, 2023

Visa appoints advisory council for policy institute

The new council is tasked with providing “strategic guidance” to the San Francisco-based card giant’s Washington think tank, but none of the initial members are based in the U.S.

By Lynne Marek • Oct. 18, 2023

Stax scoops up paytech firm

Payments technology provider Stax has purchased a processing services provider in its first acquisition since CEO Paulette Rowe took over in August.

By James Pothen • Oct. 17, 2023

Global Payments B2B leader mulls M&A

The head of B2B at Global Payments is keeping an eye out for acquisitions as he focuses on bringing the company’s business-to-business services to market.

By Caitlin Mullen • Oct. 17, 2023

Consumer group pushes for stricter EWA protections

In a recent web post, the National Consumer Law Center issued a number of policy recommendations for states seeking to regulate earned wage access companies.

By James Pothen • Oct. 16, 2023

Fiserv exec talks Carat competition, growth

Carat’s recent expansion of its relationship with customer Inspire Brands “is what ‘good’ looks like in many ways for us,” said Casey Klyszeiko, the head of Fiserv’s global commerce platform for large clients.

By Caitlin Mullen • Oct. 16, 2023

Cash use falls as instant payments gain ground: McKinsey

Global cash use declined four percentage points last year, continuing a pandemic-era trend, consulting firm McKinsey said in a recent report.

By Debbie Carlson • Oct. 13, 2023

NMI acquires Sphere division

The deal will enhance NMI’s underwriting capabilities and allow ISVs and fintechs to create merchant accounts within the company’s existing platform, NMI said. 

By Tatiana Walk-Morris • Oct. 12, 2023

Fiserv buys Brazil’s Skytef

With the purchase, the payment processor said it adds about 600 independent software vendor partners and about 27,000 merchants in Brazil.

By Caitlin Mullen • Oct. 12, 2023

Check use persists in B2B, despite digital acceptance

Although roughly 99% of vendors surveyed accept ACH payment, the share of payments made via check was neck-and-neck with that for ACH this year, according to a MineralTree report.

By James Pothen • Oct. 12, 2023

Fed’s Waller pushes back on criticism of FedNow’s adoption rate

“We have got more in the pipeline and there are various estimates that could range from 250 to 350 by the end of the year, and they just continue to grow as banks do it,” the central bank governor said at a recent payments event.

By Rajashree Chakravarty • Oct. 11, 2023

i2c chases partnerships to power growth

The issuing-processing fintech is pursuing tie-ups with Deloitte, PwC and other big advisory firms to further its growth globally.

By Caitlin Mullen • Oct. 11, 2023

Fiserv among MOVEit cyberattack victims

The payment processor recently notified one of its customers, Flagstar Bank, that it was entangled in a May cyberattack that’s affected more than 2,000 organizations.

By Caitlin Mullen • Oct. 10, 2023

What 3 retailers’ approach to crypto says about the market

Pacsun, GameStop and Tag Heuer have all introduced crypto activations in recent years as the payment option grew in popularity.

By Xanayra Marin-Lopez • Oct. 10, 2023

Orum uses FedNow to launch account verification tool

The service, built on top of the Fed’s instant payments network, allows customers to verify a bank account within 15 seconds before sending a payment, Orum said.

By James Pothen • Oct. 10, 2023