Fintech

From Boys & Girls Clubs to food pantries, Honor Flights and more, here's how credit unions are helping other organizations that give back to their communities.

Instead of expanding Alipay’s geographic reach across the U.S. and Canada, Alipay is doubling down on merchant acceptance in urban areas and tourist zones to drive more spending volume.

Millennials view the ATM as central to how they manage their money and go about their daily lives, writes Yonas Marcos, president and CEO of Star Financial Services.

As the gig economy and prepaid cards draw more people into mainstream banking, the card providers are increasingly competing with one another instead of simply moving people away from cash.

When EMV chip cards were launched in the U.S., the initial fear in the security and payment industries was that fraud would migrate to e-commerce. But the migration has actually moved further along to the more lucrative venue of real-time Fed-mandated ACH payments.

The banks contend distributed ledger technology (DLT) makes it easier to coordinate trade finance deals. And the use of smart contracts can help parties comply with contractual obligations such as staged payments.

Both executives assume their new roles as the Citi unit faces competition from both large banks and fintechs in the cross-border payments market.

The expansion of Visa Direct is designed to speed disbursements for health care patients who can receive an instant payment versus waiting several days to a week for payout.

About 175 million Americans now have access to a credit card, and the delinquency rate has gone up along with that, but an expert at TransUnion, which issued the data Tuesday, said the underlying metrics suggest there is no cause for alarm — yet.

More than 1 million jobs will be lost to AI by 2030, according to one estimate. But new jobs are also being created. Are banks and their employees ready?