Payments

Firms like Oracle and Billtrust are betting companies with smaller, more remote teams will adopt digital transaction systems to ease the burden of paying their vendors.

The Canadian fintech is collaborating with PayPal to power the firm's technology that merchants can place anywhere — from blogs to product packaging — to enable purchases.

The company told many customers they were "pre-approved" for credit card products they did not actually qualify to get. Proceeds from the fine will compensate those consumers, the Federal Trade Commission says.

Early Warning Services, owner of the Zelle peer-to-peer payment app, has tapped former Mastercard executive James Anderson as managing director of the online digital wallet the bank-owned consortium is developing.

Most U.S. consumers have used a peer-to-peer payments app like Zelle, Cash App, Venmo or Apple Cash, while 12% of frequent users admit they sent funds to the wrong party and 9% said they've been victimized by a scam, according to a Consumer Reports study of top P2P apps.

Not every shopper wants to charge the same card every time — but many do. Retailers like Adorama and Nordstrom, and payment companies like PayPal, are digging into their data to determine when an invisible payment is the best option for a customer, and when it's a pain point.

Early Warning Services plans to create a retail payment option for its peer-to-peer system. Experts say it's a long shot, but it could displace Apple, PayPal and others if successful.

Credit cards with rewards are rewarding only for those who know how to profit from the system, according to a paper released by the Federal Reserve.

The more that stores reinvent the physical point of sale — or remove it entirely — the more they gather insights that go beyond just the payment. This can be extremely valuable to retailers that know how to use this new information, particularly for targeted marketing.

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.