Technology

The acting agency chief defended the “zero tolerance” policy while praising the permanent CFPB nominee suspected of having been involved in implementing it.

Big banks and wealth managers are unwilling to sacrifice fee income and make other changes to catch up with their customers' digital demands, fintech leaders said.

The Australian state of Queensland has selected Cubic Corp. of San Diego to develop a mass-transit ticketing system that will support contactless payments and real-time rider account information for public transportation in the region surrounding Brisbane.

PayPal is spending billions on M&A to throttle the heightened competition it faces from the likes of Square and Stripe.

U.K. payments technology provider Paysafe has entered a partnership with Company.com and Ingo Money to offer same-day settlement to small business merchants in the U.S.

The online lender wants to provide instant payments and securitizations alongside instant loans, according to CEO Anthony Noto.

Mobile and digital technology are expanding use cases for reloadable prepaid cards beyond their heritage as a tool primarily for the unbanked consumers. Furthermore, mobile commerce is driving broader acceptance of digital versions of both prepaid and retail gift cards.

Paycheck information gleaned from bank accounts is emerging as an alternative to verifying a mortgage applicant's income and employment with a 4506-T tax transcript request to the IRS.

The move from standard to real-time transactions adds another layer of complexity and creates further opportunities for fraudsters. Quicker transaction times increase the chances of fraudulent transactions going undetected, writes David Worthington, vice president of payments at Rambus.

Robinhood Markets has more than 4 million U.S. consumers using its free stock-trading platform. Now, it's in talks to offer them other banking services like savings accounts, according to people familiar with the matter.