Payments

In a move to increase the attractiveness of its Real-Time Payment (RTP) network, The Clearing House is raising the transactional limit for single payments to $100,000 starting February 1, 2020.

In a move to increase the security of card transactions, the Reserve Bank of India (RBI) is requiring all advanced features such as contactless to be turned off for new and re-issued cards until the user opts-in.

While the size of the global remittances market may ebb and flow with the global economy, one thing is clear – it’s massive, at over $700 billion in payments each year and growing.

Moving to an open banking system comes with both costs and benefits that each bank will need to weigh before diving in.

JPMorgan Chase & Co. and United Airlines Holdings Inc. sweetened rewards on their credit cards as the companies continue to renegotiate the terms of their longtime partnership.

It might sound like a risky strategy at a time when millions of Americans are drowning in debt, but that's exactly what big banks have been doing lately.

It might sound like a risky strategy at a time when millions of Americans are drowning in debt: keep raising the limit on people’s credit cards, even if they don’t ask.

Even in mature markets, consumers may not feel very connected to their payment cards. This is making issuers more reliant on selling data-driven experiences over simple transaction processing.

Buyers are researching payment options, and choosing suppliers accordingly, says MSTS' Brandon Spear.

Marqeta has been certified as a European card processor with Mastercard to help digital banks issue cards more quickly, signing Twisto as the first customer of the collaboration.