Payments

The tech giant is enabling users to pay by holding smartphones together, potentially cutting into the market for Zelle, PayPal and Venmo.

Bankers and financial services professionals should be monitoring the rollout of the EU Digital Identity Wallet initiative, as it signals changes likely to arrive in the U.S.

The government-backed instant processing network has been live only since the summer of 2023, but it's already indirectly boosting usage at an unrelated bank-led rail from The Clearing House.

Fizz offers a card that enables undergrads to slowly build a debt record based on healthy spending habits, providing an alternative as regulators pressure how financial services are marketed to that demographic.

Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.

The American tech giant's agreement to open up to other firms may give other tech firms the chance they need to offer an updated mobile wallet.

The card networks extended an agreement to keep interchange the same for cards issued outside of the European Union; meanwhile Ant Group's Alipay adds a number of AI-powered assistants.

Washington policymakers are not adopting policies necessary to keep the U.S. on the cutting edge in payments. Fortunately, the dual banking system offers an alternative path forward.

Micromanaging the terms under which payment networks are willing to process debit-card transactions is bad for both businesses and consumers. Congress has the power to roll back intrusive regulations.

The financial institution, which downsized earlier this year, is trying to broaden its scope to retain businesses that don't want to use multiple providers.