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In a post-Brexit move, Mastercard is raising interchange rates for card-not-present transactions on U.K.-issued cards when spent with European merchants.

Harper, a Democrat, had long been expected to be promoted to the chairmanship under a Biden administration, but he could face an uphill climb moving his priorities forward.

Machine learning and innovations such as voice assistants can give the newly mature e-commerce industry an extra push, says Qualpay's Penny Townsend.

Spurred by the coronavirus pandemic, 88.6% of Barclaycard in-store transactions were made using contactless technology last year, up from 86.4% in 2019, an increase of about 2.5%.

Under a proposed rule change, credit unions would no longer need to seek pre-approval from the regulator before entering into interest rate swaps, speeding up transactions for some of the industry’s biggest institutions that already hold over 80% of total assets.

The Columbus, Ohio, company plans to close nearly 200 branches in the state — including more than 90 in Meijer grocery stores — after it acquires TCF Financial. It also intends to significantly boost its technology spending to improve its digital capabilities.

Deposits are soaring while loan demand lags and mortgage-backed securities offer weak returns. So the Alabama company has parked loads of cash at the Fed in hopes the economy will pick up steam before profit margins suffer.

The auto finance company, which had stumbled in forays into the credit card business, is now seeing rapid growth in mortgage and unsecured consumer lending.

MoneyGram International is expanding its use of Visa Direct across Europe, allowing its customers to use the company website or mobile app to send money in near-real time to Visa debit card holders in various parts of 25 countries in Europe.

Consumers have gotten used to mobile order, pay and delivery, and will require even greater innovation, says OnFleet's Khaled Naim.

It would force national banks to make loans to high-risk industries that often pose dangers to vulnerable communities. The next comptroller of the currency should instead promote equal credit availability for consumers who need it most.

Ant Group Co.’s valuation may be cut further under new measures proposed by China to curb market concentration in its online payments market, according to new estimates from Bloomberg Intelligence.

The JPMorgan Chase CEO's total compensation went unchanged at $31.5 million for his work in 2020, a year in which a global pandemic roiled the economy and caused banks to set aside billions to cover future bad loans.

Bank of America will give $750 to eligible staff who earn $100,000 or less annually, while higher-paid employees will receive a stock award, according to a memo to staff from CEO Brian Moynihan.

Many financial institutions have made initial moves into real-time payments via P2P services, and the use cases will jump over time, says Fiserv's Matt Wilcox.

The new administration is wasting no time assembling a team of regulatory appointees and urging agencies to pause pending rules.

The Cleveland company will launch the service in March to broaden relationships its Laurel Road student loan refinancing unit has built with health care professionals.

Greg Carmichael said lightly regulated challenger banks pose a long-term threat to traditional banks, echoing comments JPMorgan Chase’s Jamie Dimon made last week.

Citigroup, one of the few companies to offer a frank assessment of the difference in wages it pays to men and women, has made gradual progress toward narrowing that gap.

Liang, a senior fellow at the Brookings Institution, would take a position that has been vacant since 2014.