In a challenge to the leading online payment systems, Google Inc. has launched its long-awaited service, called Google Checkout. The new payments system will give Google a huge database of payments information for consumers as it will store names, shipping and credit card information and eliminate the need for consumers to resubmit that data with each purchase. Google will be responsible for processing credit card payments and keeping data safe. Google will charge merchants 2% of the value of each sale plus 20 cents per transaction. The company will reward its advertisers by offering them $10 in free sales processing for every dollar they spend on advertising.
-
As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3