Fintech

Achieving the coveted “top of wallet” status is tough for banks, not least because their own credit and debit cards often compete with one another for priority status with the same customers.

UnionPay customers can now transfer funds from Canada to China without fees through a partnership with Canadian bank CIBC.

The Financial Conduct Authority has given the green light to Geoswift, the Hong Kong-based cross-border payments company, to operate collection and settlement services between the U.K. and China.

After more than two years of work on its real-time payments rail, The Clearing House senses it has the proper plumbing in place to make any new system hum. And the one thing it wants to make clear: This isn't your father's ACH.

Credit unions in Arizona and Texas recently topped major asset milestones – Hughes Federal Credit Union, Tucson, Ariz., said it surpassed $1 billion in total assets, while Texell Credit Union, Temple, Texas, now has more than $300 million in assets

A growing number of U.S. merchants, both large and small, are using online marketplaces to sell their wares worldwide. Payment companies that specialize in currency exchange have taken note.

Three midsize banks projected increases in loans this year in the latest round of earnings discussions, but their levels of optimism varied, and their commercial lending strategies in some cases conflicted.

Bitcoin exchange and digital wallet provider Coinbase has received a virtual currency and money transmitter license — commonly known as a BitLicense — from the New York State Department of Financial Services.

The online payment service Alipay, an affiliate of Alibaba, is extending its collaboration with luxury travel retailer DFS Group as more Chinese citizens increase their travel frequency to overseas locations.

The U.S. Supreme Court turned away an appeal by Bank of America, Citigroup and JPMorgan Chase, refusing to stop antitrust lawsuits that accuse some of the world’s largest banks of conspiring to rig Libor.