Payments

The Federal Reserve would seem to offer a compelling alternative to the bank-backed RTP network, but some credit unions — which typically see bank systems as competitive threats — are making more nuanced choices.

In the news this week: A consumer group filed a complaint against Starbucks over its mobile app and reloadable gift cards, Apple Pay added a new payment tech firm, The Clearing House hired Amanda Stewart as its new marketing chief, and more.

These executives have taken charge at firms like PayPal, Discover and Early Warning Servcies during a volatile time for the entire industry.

The governor's proposed license for buy now/pay later lending adds momentum to the efforts to rein in the fast-growing and unregulated product.

Banks have a simple choice: Either invest in fraud controls to prepare for FedNow, or expect draconian supervisory measures that will increase friction and confuse customers.

In a crowded market for mobile payment apps, the search giant hopes to expand its support of driver's licenses, providing a key method of authentication for more financial services.

Germany, traditionally a cash-heavy economy, is seeing a rise in debit card use. Meanwhile, Indian regulators accuse several crypto exchanges of violating anti-money-laundering rules.

The bank's cross-border transaction service opens a new lane for customer acquisition in an increasingly competitive niche.

Projects are underway at a number of payment firms including PayPal, Circle and Ripple. Location and regulation will also play a big role in what the market looks like in the next year.