John Adams is executive editor of payments for American Banker.
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Fintechs have led the way in installment lending, but banks, credit card issuers and payments companies are responding with products of their own. Here's an overview of what they're rolling out.
October 19 -
Best known as a website management company, GoDaddy began directly offering digital and offline payments after learning that its clients were getting those services from fintechs. The company is also now selling terminals for in-store payments.
October 18 -
During a House hearing, Democrats advocated for measures that ensure businesses keep accepting paper money, while Republicans argued in favor of chartering more fintechs and promoted stablecoins to extend access to the underbanked.
October 15 -
The $317 million deal will provide the London company with a large base of American clients and help it compete with technology firms like Square, PayPal and Stripe.
October 14 -
Chase Payment Solutions combines Chase Merchant Services with WePay, a fintech the bank bought in 2017, to provide more tailored offerings — such as card acceptance without a merchant account — to entrepreneurs.
October 14 -
The payments firm dropped support for Bitcoin payments in 2018, but company executives say the increasing popularity of digital currency makes it a good time to reenter the market.
October 13 -
The bank-supported blockchain organization plans to use the acquired assets to speed testing for digital currencies.
October 12 -
Nonfungible tokens, which provide proof of ownership in the digital world, are booming. Payment companies are betting they will require payment rails to fund high-value purchases and attract new customers for loyalty marketing.
October 12 -
When the social network went down, it took its entire commerce platform with it. The incident adds to recent data management snafus, and raises doubts about whether the company can build enough trust to succeed in financial services, according to technology experts.
October 8 -
Card issuers are lobbying Visa behind the scenes to reduce Apple's share of revenue from recurring transactions made on its devices. But the iPhone maker has a track record of warding off threats to its income.
October 7
