Fintech

Just two years after it was founded, Brex Inc. is close to securing new funding at a valuation north of $2 billion, according to people familiar with the matter.

Payment network tokenization should sound appealing to every online retailer because it relieves friction and releases them from much of their risk, liability and compliance burden. The trick is achieving scale from both a technical and business agreement perspective, writes Ammar Faheem, vice president of digital payment solutions for North America at Gemalto, a Thales company.

Albert Ko, who had been the chief transformation officer of Intuit, says he will work to improve Zelle's interface to make it more appealing to consumers.

While advanced push payment fraud has dominated the headlines in recent years, another type of scam has been costing U.K. businesses millions — even though many companies are completely unaware of it.

Banks and governments around the world have invested in systems that seek to instantly transfer money between accounts, moves that could put pressure on the sprawling debit card business at the world’s largest payments network. But Visa Inc. Chief Executive Al Kelly isn’t too worried.

Speaking at a conference on Wednesday, CFO Howell McCullough mostly ruled out a merger of equals as a growth strategy for the $108 billion-asset Huntington.

Top executives from banks, card brands, credit unions, fintechs and more weighed in on the major issues and innovations for the payments industry.

More than 66% of the banks reported a jump in net income during the first quarter but new risks are emerging in interest rates and underwriting, the Federal Deposit Insurance Corp. said Wednesday.

Having already recently absorbed Los Angeles-based Cedars-Sinai FCU, Credit Union of Southern California is now set to pick up tiny FedONE FCU.

The bank dropped out of the bidding for the card over profitability fears; returning to the market could boost Barclays' investment bank.