Mobile wallets

The agency issued an interpretive letter on stablecoins two months after permitting institutions to provide wallet services for cryptocurrency holdings.

Members who use the account, which should be available starting in 2021, will manage it through Google Pay.

Whether they take the form of a mobile wallet or a touch-free credit card, contactless payments are poised to take off as consumers — wary of using terminals and ATMs or handing cards back and forth — change their habits.

Banks paid out nearly twice as much as they earned in the first quarter; Marilyn Booker, a managing director, said she was fired in December for pushing too hard on a diversity plan.

Criminals developing EventBot malware built it to take advantage of businesses and humans turning to mobile banking and payments in the current coronavirus crisis — but also to update itself on the fly to become more insidious in the future.

In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers’ adoption of contactless payments.

In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers’ adoption of contactless payments.

The coronavirus stimulus package has resurrected calls for the U.S. government to offer a central bank digital currency, public mobile wallets and postal banking—controversial ideas that are hard to pull off, but exist outside the U.S. and could dent interchange fees and private stablecoin projects like Facebook’s Libra.

Wells Fargo hopes to anchor its debit card at the top of customers’ digital wallets with a promotion offering users a $5 credit.

Banks, especially smaller ones, are more worried about the competitive inroads that Apple Pay, Venmo and others have made than they are about tech companies' incursions into other financial segments, according to a new survey by Promontory Interfinancial Network.