The pandemic has altered a variety of consumer behaviors, and that could make a difference in what sort of interchange and interest revenue financial institutions see in their credit and debit portfolios as they close out 2020.

Wells Fargo is exploring selling a unit offering store-branded credit cards as the bank chooses businesses to keep or break off in a broad strategic overhaul, according to people with knowledge of the matter.

The response exceeded expectations, with more than 1,600 Citi customers requesting a name-change on their cards within the first few weeks of the program.

Big financial institutions are worried that online wagers made with credit cards pose a heavy risk of money laundering. The possibility of tougher rules under the incoming Biden administration has only compounded their concerns.

Even given the huge jump in digital transactions from e-commerce, card brands are holding out for COVID-19 vaccines as a path out of the payment declines that have accompanied 2020’s health and economic crises.

Dean, who joined Capital One in 2014, succeeds Kleber Santos, who left the bank earlier this month to lead diversity initiatives at Wells Fargo.

On Jun. 30, 2020. Dollars in thousands.

The U.S. Justice Department sued to block Visa’s $5.3 billion deal for the data aggregator over concerns that it would harm competition in the global payments market.

São Paulo, Brazil-based payments fintech Conductor Technology has raised $150 million in a private equity round led by Viking Global Investors.

Payment rates for auto lenders and credit card issuers have remained strong despite a spike in unemployment. Whether these trends continue into 2021 will depend largely on the actions of Congress and the pace of medical advances.

Alliance Data plans to make Bread’s buy now, pay later options available to credit card-issuing merchant clients.

Renaud Laplanche's fintech will give borrowers cash back when they lower their loan balances.

American Express has announced it will spend $1 billion to promote racial, ethnic and gender equity internally and externally via a recently established corporate diversity office.

Visa has seen tepid returns of payments volume as economies reopen, but the renewed virus cases and government responses have created an extra layer of uncertainty — particularly for cross-border transactions and travel.

Both developments are part of the company’s strategy of becoming a full-service bank for its young, affluent customer base.

Expect to see other credit card companies join the race to customize rewards to customers to maximize appeal and customer lifetime value, says RevTrax's Jonathan Treiber.

Even as consumers shift more spending away from cash and the market for personal travel picks up, the coronavirus pandemic is still exerting a heavy toll on Mastercard's consumer and corporate spending.

The Pasadena, Calif., bank is partnering with and investing $2.5 million in Gig Wage to offer services like debit cards and money management to gig workers, many of whom are among the tens of millions of unbanked and underbanked Americans.

The payments company reported a substantial increase in both credit and debit card usage for the annual shopping event as the pandemic has made consumers even more comfortable with online purchases.

American Express Co. boosted the perks on some of its premium cards once again as the card issuer tries to keep a lid on attrition during the coronavirus pandemic.