Payment processing

U.S. Bank's $600 million fine for AML lapses quickly drew readers attention, while acting CFPB Director Mick Mulvaney got the Cordray treatment on Capitol Hill and big banks made moves to speed real-time payments.

Big companies like Stripe and Visa have written off the idea of bitcoin being used for payments, citing the cryptocurrency’s inconsistent fees and speed — but Coinbase may be uniquely positioned to succeed where others were forced to give up.

Payworks has raised $14.5 million in a Series B funding round with several participants including Visa and CommerzVentures.

Bill Clerico, CEO of WePay, the payments company JPMorgan Chase & Co. bought in October, said his company hasn’t gotten enough requests to support cryptocurrency transactions.

Early adopters of The Clearing House’s Real Time Payments network have built gateways and accelerated fraud detection systems.

Early adopters of The Clearing House’s Real Time Payments network have built gateways and accelerated fraud detection systems.

As an industry, we owe it to our customers and end users to deliver banking and payments that function in real-time and meet their expectations, writes Paul Kobos, senior vice president of banking & payments for Gemalto.

Wirecard has gained a foothold in using virtual prepaid cards to streamline corporate payments across business units, platforms and borders for companies with sprawling operations. Now the German company wants to do the same for more U.S. companies going global.

It’ll be up to card not present payment processors to ease the path toward acceptance of cryptocurrencies for subscriptions, and it could be another five years or more before any of that comes to fruition, writes Georg Richter, founder and CEO of OceanX.

Fallout from the Fed's blow to Wells Fargo; a call for calm in the rush to regulate cryptocurrencies; point-of-sale lending has its day; and more.