Payments

More than half of all cross-border payment fees are concealed in exchange rate markups that few consumers understand.

A new paper from the Federal Reserve Bank of Boston finds Blacks and low-income consumers absorb a larger share of bank account and credit card fees than other groups.

Banks worried about similar attacks against their own customers can use multifactor authentication and suspicious login detection to reduce risk.

Citizens snags exclusive Mastercard deal, Green Dot's e-bill-pay expansion and more in banking news this week.

Thieves are getting more organized and aggressive in how they steal from shelves to fund bigger schemes. Emerging checkout systems that track shoppers can deter some of this activity, but not enough to address the full scope of the risk.

Most borrowers cannot understand the information that TILA requires lenders to provide, raising questions about their utility in consumer protection.

Discover Financial Services posted a healthy fourth-quarter increase in card spending and lending, but analysts raised concerns about a sharp rise in credit account charge-offs that's likely to continue into 2024.

The metaverse is already blurring the lines between physical and online commerce, and many retailers are profiting from it. Banks and payment companies can play an even bigger role by helping money move without friction.

The digital card platform operator Marqeta is working with buy now/pay later provider Bread Financial on a pilot to instantly connect consumers' mobile wallets with merchants via the web, bypassing the need to download an app.

Starbucks and Kroger have invested heavily in payment technology over the years to gain an edge over their competitors. Their newest systems are focused on shaving off valuable seconds at checkout.

Revolut works on its internal culture, Splitit collaborates with Alipay, and more.

The Federal Trade Commission singled out Mastercard in its recent proposed consent order, but other implicated card networks and issuers are unlikely to escape censure.

The processor wants to accommodate multiple mobile wallets and real-time processing.

Crypto pain deepens, credit union merger is official and more in banking news this week.

Some Affirm customers reported duplicate charges this week to their bank accounts for Affirm's buy now/pay later loans. The San Francisco-based fintech on Friday said it's resolved the problem.

By extending access to easy payments and delivery to more merchants, the e-commerce giant can gain ground in the "super app" race.

Because they have mature revenue streams or can support embedded finance, payment companies may find themselves favored by investors at a time when other tech firms are tightening their belts.

Amex signed a deal to buy Nipendo, a Tel Aviv-based startup whose technology reduces business check usage by laying the groundwork to digitize payments between buyers and suppliers.

TCH wants to boost adoption of its real-time payments rail without undermining the Federal Reserve's option, which is set to launch this year.

Ant Group's Alipay teams up to expand mobile wallet acceptance, CaixaBank forms a cybersecurity consortium, Santander plans buy now/pay later for businesses, and more.