Fintech

The biggest U.S. banks used to own Visa. Now if only they could keep up with it.

U.S. financial stocks are down nearly 4% this week on rate pressure, but it’s even worse for European banks; the mutual fund giant will automatically sweep investor cash into a money fund yielding 1.9%.

Despite being compliant, market-specific deployments leave retailers facing a new set of compliance challenges when moving into new geographies, argues Arnaud Crouzet, VP of security and consulting at FIME.

Shinhan Card has begun piloting facial recognition payments with its employees at its headquarters’ retail facilities in partnership with South Korea’s largest convenience store operator BGF Retail.

Under the Illicit Cash Act, anti-money-laundering rules would be clearer — so banks would have no excuses for noncompliance.

Three years ago, payments technology provider Dwolla submitted a 164-page proposal to the Federal Reserve's Faster Payments Task Force. This week, the Fed unveiled a plan for its own faster payments system, but Dwolla had already moved on to other projects.

As technology advances, new terms are existing with older vocabulary, causing potential confusion that challenges user experience, says NvoicePay's Alyssa Callahan.

Consolidation heated up in recent weeks after a tepid start this year. Here is an overview of noteworthy deals announced in June and July.

As Apple Card’s public test begins this week with a limited number of consumers, details are emerging about how the tech giant is differentiating its product from other cards.

Managing compliance and breach risk make it harder to offer a good customer experience, but the cost of friction may be even higher, argues Bob Janacek, CEO of DataMotion.