Payments

The credit-cards-as-a-service model allows small banks to develop more products — and keep more revenue — than they had when working with agent banks.

The e-commerce technology firm has built dozens of partnerships to expand services its clients can offer.

Technology designed to direct more consumers online can create difficulties for groups that rely on branches and other in-person services, according to Janis Bowdler, a racial equity counselor with the Treasury Department.

Everyware, a text-based billing company reports strong demand for installment loans — due in part to the immediacy with which people respond to messages that pop up on their phones.

The startup hopes these perks will help set it apart from the other issuers that use bank-account data to vet applicants who don't have robust credit histories.

Many BNPL lenders can credit their meteoric rise to the unique circumstances of the pandemic. As their market shifts, these companies are forced to find new avenues of growth under the increased scrutiny of the Consumer Financial Protection Bureau.

The payments subsidiary of U.S. Bank's is taking a new approach that it says can address the expense of setting up a new business.

Zepz Group, the U.K. financial technology startup and parent of the payments company WorldRemit, has named Mark Lenhard as its new chief executive, replacing Breon Corcoran.

The Federal Reserve will roll out its much-anticipated instant payments system, known as FedNow, in the middle of next year. Yet many questions remain about who it will serve, how it will work and how quickly community banks will buy in to it.

10 things to know in August: Community banks are partnering with smaller core providers for tech overhauls, Bread's outage leads to a consumer uproar and more.