Consumers are confused about FDIC coverage for fintechs, placing the same amount of trust into nonbank payment companies that do not provide the same deposit protection.
American Banker's BNPL Tradeoff Survey finds risk and regulatory fears are leading many banks and credit unions to hold off on offering the lending product.
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The New York City-based credit union is planning to roll out the technology as more consumers turn to large language models to help manage their finances and hopes it will eventually provide more insight into its members.
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The company's Genius World, a miniature town that showcases different merchant types, is part of a plan to get the technology in front of more retailers.
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Thomas Eide's CB Surety ran small charges on prepaid cards to dilute clients' charge-back ratios, keeping open the accounts banks would have closed.
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The big box retailer was a notorious holdout, but payment analysts said consumer annoyance and the coming of agentic payments are weighing against the data control enjoyed by keeping Apple outside.
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The U.S. Court of Appeals for the 8th Circuit is set to decide whether a lower court's decision that found the Federal Reserve mispriced debit interchange limits in the Durbin Act stands. Analysts say the battle will pressure banks toward faster payment options.
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The real value of stablecoins lies in their ability to provide instant and secure transfers of value. But, in a world where every company has a bespoke stablecoin, that promise begins to break down quickly.
The risk facing U.S. banks is not that stablecoins will suddenly siphon deposits through yield alone. It is that deposits will gradually follow utility as financial experiences improve elsewhere.
Banks that don't embrace embedded payments now risk losing out to more nimble rivals in the near future.
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Real-time payments are only one component, Umar Farooq said.
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When a bank thinks of itself as a tech company, a new set of opportunities and challenges becomes clear.
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