Technology: Page 6

  • An exterior shot of a Fifth Third Bank location is shown
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    Courtesy of Fifth Third
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    Stripe, Fifth Third Bank to team on embedded services

    The global digital payments company will team with the bank to offer embedded finance services to its clients.

    By • Aug. 1, 2024
  • Mastercard image of two interlocking circles and a horizon seen through them.
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    Courtesy of Mastercard
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    Mastercard refocuses on tech in int’l markets

    The card network will incur a charge in the current quarter for a realignment that is boosting investments in newer technologies, including in Africa and Latin America.

    By • Aug. 1, 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
  • Business, technology, internet and networking concept. Young businessman working on his laptop in the office, select the icon Fraud prevention on the virtual display
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    putilich via Getty Images
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    Q&A

    How artificial intelligence can improve payments fraud prevention

    Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.

    By • July 31, 2024
  • Sibongile Ngako, Brex's new compliance chief, is pictured wearing a white jacket.
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    Permission granted by Victoria Reynolds
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    Q&A

    5 questions for Brex’s new compliance chief

    When it comes to innovation, “if it's moving too quickly for customer protection to keep pace, it’s not happening,” said Sibongile Ngako, who recently joined the fintech as chief compliance officer.

    By Caitlin Mullen • July 31, 2024
  • A customer scanning their phone at an Amazon Just Walk Out terminal
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    Courtesy of Amazon
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    Amazon’s checkout tech is getting an AI upgrade

    Just Walk Out is rolling out an advanced AI model that the company says will make its system more accurate and efficient and less costly to implement.

    By Jeff Wells • July 31, 2024
  • Alex Chriss, PayPal's next CEO
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    Permission granted by PayPal
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    PayPal CEO leans on big-name clients for growth

    Alex Chriss, appointed to lead the digital payments business last year, noted the company is benefiting from ties to companies like Facebook parent Meta.

    By • July 30, 2024
  • Stripe CEO Patrick Collison
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    Matt Winkelmeyer via Getty Images
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    Stripe buys software rival Lemon Squeezy

    The San Francisco payments giant bought the 4-year-old Salt Lake City startup as it continues its global expansion.

    By • July 30, 2024
  • Buy now, pay later
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    I going to make a greatest artwork as I can, by my head, my hand and by my mind. via Getty Images
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    Affirm says CFPB’s proposed BNPL rules will confuse customers

    In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.

    By • July 29, 2024
  • PayPal sign outside in front of parking lot with cars in background.
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    Justin Sullivan via Getty Images
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    PayPal changes chairman, reduces board size

    PayPal’s chairman of nine years left that post this week, and was replaced by one of the board’s newer members.

    By • July 26, 2024
  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
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    Lynne Marek/Payments Dive
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    Opinion

    How to speed up FedNow adoption

    “Interfaces need to be standardized to ensure a consistent and reliable payment experience for businesses and consumers,” writes one payments software executive.

    By Ani Narayan • July 26, 2024
  • Revolut card with logo
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    Courtesy of Revolut Press Kit
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    Revolut faces more fraud claims than other UK banks: report

    The fintech investigates each fraud claim independently of other cases, and takes such claims “incredibly seriously,” a spokesperson for the company said.

    By Gabrielle Saulsbery • July 25, 2024
  • Senator Richard Blumenthal has called for an expansion of the Electronic Funds Transfer Act to require payment networks to reimburse scam victims.
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    Spencer Platt/Getty Images via Getty Images
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    Zelle, big banks challenge senators on scam reimbursements

    Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.

    By • July 25, 2024
  • Fiserv headquarters in Brookfield, Wisconsin
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    Google Maps

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    Fiserv to leverage artificial intelligence to help merchants

    The payments behemoth says its data team will use AI to mine transactions on its products to help merchants and financial institutions profit.

    By • July 24, 2024
  • Mastercard point of sale, retail
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    Courtesy of Mastercard
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    FTC demands pricing input from Mastercard, others

    The Federal Trade Commission demanded information from eight companies, including the card network, to better understand how consumer data is being used in the pricing of products and services.

    By • July 23, 2024
  • CrowdStrike booth at Black Hat USA 2023 in Las Vegas.
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    Matt Kapko/Payments Dive
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    Visa, Mastercard say CrowdStrike didn’t impact networks

    Still, cardholders may have been affected, particularly in Europe, as some bank card issuers were hit by the cybersecurity company’s update snafu.

    By • July 22, 2024
  • J.P. Morgan's Fourth Quarter Income Drops Over 30 Percent
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    Chris Hondros / Staff via Getty Images
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    JPMorgan Chase invests in B2B payments startup Slope

    The big bank’s payments unit and Y Combinator were among investors providing $65 million in financing for the business-to-business upstart this month.

    By • July 19, 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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    6 viewpoints from the CFPB’s director that may affect payments

    “We are looking a lot at the convergence of payments and commerce and the extent to which a very big player could use that to shatter that wall between banking and commerce,” the agency’s director, Rohit Chopra, said this month.

    By Suman Bhattacharyya • July 19, 2024
  • Stripe CEO Patrick Collison
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    Matt Winkelmeyer via Getty Images
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    Stripe leads the way to Q2 fundraising recovery

    Payment startups, particularly Stripe, benefitted from a revival of venture capital flows during the second quarter.

    By • July 17, 2024
  • The exterior of the Fiserv Forum.
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    Daniel Boczarski via Getty Images
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    Fiserv’s RNC visibility carries possible benefits, perils

    Publicity for the Republican National Convention, at a venue bearing Fiserv’s name, may raise the company’s profile, but also risks associating the payments player with polarizing partisan rhetoric.

    By • July 17, 2024
  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
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    Lynne Marek/Payments Dive
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    FedNow zooms past RTP participation in inaugural year

    The Federal Reserve’s nascent instant payments system has collected hundreds of bank participants across the country in its first year of operations, although a few major banks are holdouts.

    By • July 16, 2024
  • Shot of a young woman relaxing on the sofa and using a credit card with a digital tablet
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    gradyreese via Getty Images
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    Bolt advances strategy under new CEO

    Justin Grooms, who was promoted to the checkout software firm’s CEO post this year, is taking its strategy to the next level with merchant clients.

    By • July 15, 2024
  • BofA CashPro
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    Courtesy of Bank of America
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    BofA tackles digital payments pain points

    The bank’s latest platform update is designed to better address transaction-related inquiries — one of the top reasons business customers call and email for help.

    By Maura Webber Sadovi • July 15, 2024
  • A person walks into BNY Mellon's headquarters in New York City.
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    Mario Tama / Staff via Getty Images
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    Banks should proactively tackle instant payments fraud: BNY

    Use of data-sharing protocols among banks could warn customers before they send money, said Carl Slabicki, a BNY executive.

    By Suman Bhattcharyya • July 12, 2024
  • Close-up of a person using a self checkout machine.
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    Julia Gomina via Getty Images
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    Self checkout boasts ‘record’ year: report

    The U.S. is the world’s largest self-checkout market, driven in part by supermarket chains and convenience stores, even as some retailers pull back on the tech.

    By Tatiana Walk-Morris • July 12, 2024
  • Image of bitcoins.
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    Chris McGrath via Getty Images
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    Crypto theft doubles to $1.38B

    The May theft of over $300 million worth of bitcoin from Japanese cryptocurrency exchange DMM Bitcoin is the largest digital currency heist so far this year.

    By Alexei Alexis • July 11, 2024