Technology: Page 8
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Lynne Marek/Payments Dive
Fed aims to make instant payments the norm
“It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at a major industry conference.
By Lynne Marek and Patrick Cooley • Nov. 5, 2024 -
Courtesy of Mastercard
Mastercard gains edge in ancillary services
The card network is besting its larger rival Visa in the sale of cybersecurity and data services, at least according to one set of analysts who reviewed their recent results.
By Lynne Marek • Nov. 5, 2024 -
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TrendlineE-commerce drives digital payment advances
As e-commerce activity continues to climb, providers of digital payment tools are likely to keep evolving their online offerings.
By Payments Dive staff -
Justin Sullivan via Getty Images
Stablecoins face obstacles to widespread adoption
The digital currencies could simplify cross-border payments, but consumers are wary of using them, payments and fintech executives say.
By Patrick Cooley • Nov. 4, 2024 -
Courtesy of Paytronix
Paytronix acquired by Access Group
The deal will expand the offerings available through Paytronix’s platform and help accelerate its growth, executives said.
By Jessica Loder • Nov. 4, 2024 -
Joe Raedle via Getty Images
5 payments predictions from research firm Forrester
Cash use worldwide will drop significantly next year, despite its U.S. persistence, the research firm Forrester predicts. Meanwhile, business-to-business acquisitions in the payments realm will pick up.
By Tatiana Walk-Morris and Lynne Marek • Nov. 1, 2024 -
Tero Vesalainen via Getty Images
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 Patrick Cooley • Oct. 31, 2024 -
whyframestudio via Getty Images
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 Lynne Marek • Oct. 30, 2024 -
Permission granted by MoneyGram
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 -
Retrieved from Lynne Marek on March 04, 2022
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 Lynne Marek • Oct. 29, 2024 -
Courtesy of Adyen
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 Patrick Cooley • Oct. 25, 2024 -
Stock via Getty Images
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 -
AndreyPopov via Getty Images
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 Lynne Marek • Oct. 23, 2024 -
Shang-Jie Hsu via Getty Images
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 Lynne Marek • Oct. 23, 2024 -
Win McNamee via Getty Images
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 -
Matt Winkelmeyer via Getty Images
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 Patrick Cooley • Oct. 21, 2024 -
Daniel Boczarski via Getty Images
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 Patrick Cooley • Oct. 21, 2024 -
Permission granted by Dave
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 -
Courtesy of Apple
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 Patrick Cooley • Oct. 18, 2024 -
Courtesy of Megan Cheung
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 Lynne Marek • Oct. 16, 2024 -
Courtesy of Mastercard
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 -
Vadym Petrochenko via Getty Images
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 Lynne Marek • Oct. 15, 2024 -
Moowan Photo via Getty Images
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 Lynne Marek • Oct. 14, 2024 -
Win McNamee via Getty Images
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 Lynne Marek • Oct. 11, 2024 -
Justin Sullivan / Staff via Getty Images
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 Patrick Cooley • Oct. 11, 2024 -
Courtesy of Grabanco
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
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