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PaymentsSource Senior Analyst Michael Moeser talks to Tyler Beuerlein, chief revenue officer of Hypur, about the challenges of handling payments in the legalized cannabis industry.

The reductions will affect less than 1% of Citi's global workforce, and with recent hiring the overall headcount probably won’t decline, the company said.

The pandemic has changed Americans’ tolerance for germ-laden cash transactions. Aaron Klein, the Economic Studies Policy Director at the Brookings Institution is worried about how the latest stride toward a cashless society is impacting lower-income communities.

A public rebuke on the bank’s risk management may have expedited Corbat’s retirement; a deal would create a Swiss champion in wealth management and investment banking.

Embedded finance isn’t an intentional attempt to overthrow banking; most companies are just trying to meet customers where they’re at when it comes to payments, says Kunai's Sandeep Sood.

Credit and debit cards, merchant apps and loyalty programs are being linked through a platform from U.K-based Fidel to provide real-time rewards, business expense management, digital receipts, and charity donations.

Legislation favorable to the industry would be unlikely to pass in a divided Congress, but the biggest benefit for banks and credit unions of Republicans' retaining control of the chamber would be defending against the disruption of a Democratic blue wave.

Fraud of all kinds has been spiking during the pandemic. Krista Tedder, head of payments, Javelin Strategy & Research, says there are many steps banks could be taking to detect and deter it.

The company joins a growing list of banks shuttering locations as customers flock to digital channels.

Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment.