Payments

U.S. consumers’ card debt, which fell sharply last year, has now climbed for two consecutive quarters. The upcoming holiday shopping season will signal how quickly borrowing will return to 2019 levels.

The partnership with the e-commerce giant could help PayPal overcome muted fourth-quarter sales due to supply-chain issues and other factors changing consumer spending.

On Jun. 30, 2021. Dollars in thousands.

The bank is partnering with Anthemis to match investors with female entrepreneurs, who according to Findexable research attract just 1.5% of investment in the sector.

The institution joins a small but growing list of large banks that allow businesses like utilities and mobile carriers to instantly accept consumer transactions.

Citigroup, BNY Mellon, JPMorgan Chase and PNC are each working to enable wireless providers, public utilities and other companies to instantly receive funds from the consumers they bill.

Jack Dorsey's payments company wants to reach a younger demographic while also giving adults more reasons to use its peer-to-peer service.

Hispanic adults are underbanked compared with their white counterparts, according to the Federal Reserve. Challenger banks such as Tend and Viva First are reaching out to this population with bilingual services and low-cost money transfers.

The $395-a-year Capital One Venture X card goes up against American Express and JPMorgan Chase cards that offer similar benefits to people who want to spend again on travel as restrictions ease.

Financial institutions say it would require them to overhaul their payments technology, deprive them of revenue and force them to pass added costs on to merchants and consumers.

As installment lending becomes more popular, regulators in the U.S., Europe and Australia are considering new restrictions or taking action against lenders.

The speed of money movement represents the future - success for those who deliver, challenges for those who don't

The bank-backed peer-to-peer payment network enables Allstate to offer quick payouts to policyholders, and it is working to provide a similar service to other insurance companies.

The Indiana-based online banking pioneer is purchasing First Century, a similarly tech-savvy company, for $80 million. The deal would diversify its revenue and improve its prepaid card offerings for small businesses.

Fintechs have begun offering consumers installment-lending options to pay for airfare, putting competitive pressure on banks and credit unions that rely on travelers for significant credit card volume.

On Jun. 30, 2021. Dollars in thousands.

European authorities have linked the operation to investment scams that predate its sale to ING in 2018.

The bank tapped Antony Stephen, former head of Amazon Payments Europe, to oversee its move into small buy now/pay later loans. It is also reportedly seeking a partnership with the e-commerce giant in the U.K.

The card network plans to use technology acquired from CipherTrace to offer compliance and risk management services to firms that handle digital assets.