Merchant

The Toronto firm, Canada’s fifth-largest lender by assets, must keep “a careful eye on costs” and improve efficiency, its CEO said in a corporate memo.

A new app will allow small-business clients to quickly apply for credit while expanded offerings for homeowners associations will help CIT build up its base of low-cost deposits.

Bank pilots and 'open banking' are paving the way for rampant adoption, says Fingerprints' Lina Andolf-Orup.

Millennials especially have shunned credit cards in favor of buying even low-ticket items using a system of installment loans, often incurring little to no interest, says Jifiti's Nufar Segal.

Like its rival Mastercard, payments volume is on the rise at Visa, but the coronavirus complicates the near-term economic outlook and makes China an even tougher market.

The consumer bureau alleges the Providence, R.I., bank mismanaged billing error claims over a six-year period. Citizens Bank says it is “puzzled and disappointed” by the agency’s action.

Cubic Corp is trying to boost transit ridership by allowing rewards earned via mobile payment usage to offset the cost of fares.

It seems the payments industry is once again pushing liability to the merchants with no plans to hold anyone else along the payments ecosystem accountable for ensuring that viable solutions are available, says the Merchant Advisory Group's John Drechny.

Digital receipts and rewards startup Flux has been gaining ground with retailers and challenger banks, and had continued the momentum by attracting investment from Barclays.

Alternative lending companies are one of the strongest examples of how leveraging rich financial transaction data can be used to go beyond traditional credit risk assessments, says Finsync's Eddie Davis.