The Latest

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

The company will offer retail installment loans up to $40,000 through a partnership with Mastercard's Vyze unit.

The product, which is also aimed at community banks, includes a "take-back" option that allows consumers to withdraw extra funds they've paid that go beyond their monthly scheduled mortgage payment.

Advocates of allowing merchants to add a surcharge to defray the cost of credit card interchange have had to overcome network bureaucracy, state laws and even ingrained habits among the merchants themselves.

The $18.8 billion in net income was 70% less than a year earlier as the uncertain economic picture and new accounting rules drove a sharp rise in provisions for future losses.

Extending more digital pay can help integrations with other functions such as enterprise resource planning, says Nvoicepay's Kristin Cardinali.

Billionaire Jack Ma’s Ant Group filed for an initial public offering in Hong Kong and Shanghai to bankroll its expansion in financial services and bolster its lead as China’s largest online payments platform.

Amid the economic and health wreckage the COVID-19 global pandemic has created, payments have stepped to the forefront in a way that has allowed banks, merchants and consumers to not only continue to do business, but also to increase communication.

Brad Windbigler, treasurer at Western Union, talks to us about how the company navigated the challenges of the pandemic — particularly as the global nature of its network meant it had to contend with moving money across parts of the world that recovered at vastly different rates from one another.

If Congress wants to provide better access to banking services for low-income and rural Americans, it would be wise to consider financial services partners that operate under a not-for-profit model.