Payments

Institutions that are already on the fence about joining the peer-to-peer network are expected to balk at the expense of standardized scam reimbursement, industry experts say. Small banks aren't openly opposing the concept yet, but many say they're still cautious about P2P.

The payments firm is staffing up as it accelerates its expansion in the U.S., and anticipates a pool of available tech workers.

Bermuda launches a stablecoin; Canada cracks down on crypto; big banks make high-profile payment appointments, and other news.  

The credit reporting firm said credit card and personal-loan delinquencies are likely to rise in 2023 to the highest in a dozen years, with lenders cutting back on originations as a potential recession looms.

The payments company has expanded digital-asset management services to Luxembourg, a potential foothold for European Union expansion.

Virtual gift cards have lagged plastic in popularity, but consumers could give them a second look in light of a surge in theft of paper checks and gift cards sent through the Postal Service.

Attacks designed to gauge the value of a stolen card are growing quickly as the transaction mix becomes more digital, with smaller and more frequent purchases.

BofA's Seattle shake-up, board "refreshment" at a Phoenix bank and more in banking news this week.

Payment fintechs are finding that their best opportunities are overseas — and for a lot of companies, that means building a market to take on American incumbents.

After years of fintechs taking the lead in modernizing cross-border payments, fresh momentum is coming from traditional payments and banking infrastructure players, including the card networks and the 50-year-old SWIFT.

Markus Braun makes his first public appearance in court on Thursday, more than two years after his highflying digital-payment company Wirecard collapsed under the weight of fraud allegations.

A $1 billion investment from Credit Suisse gives the startup the means to bring its all-in-one payment card to a new market.

Barclays' chief operating officer is stepping down, setting off an overhaul of its top rankks.

In global news this week, the EU cracks down on buy now/pay later; France conducts digital currency test, Tencent launches cross-border payments, and other news.

The transfer service is reportedly building a standardized system to reimburse victims. It could take a lot of complex work to execute the plan.

Banks like BNY Mellon can compete with payment tech startups, or they can partner with them to make the most of their innovations. But in doing so, they give a potential competitor a direct line to the bank's sizable customer base.

The Consumer Financial Protection Bureau is investigating how the Jack Dorsey-led company handles fraud on its person-to-person payments app. After the bureau accused Block of dragging its feet, a federal magistrate judge gave the company a Jan. 5 deadline.

Marijuana shops across the U.S. are rushing to find alternative ways for customers to pay after networks that supported a popular workaround to the banking system began to shut down last week.

Institutions outside the U.S. are holding an estimated $65 trillion in "missing" dollar debt off their balance sheets through currency derivatives, making it harder for global policymakers to anticipate the next financial crisis.

A new business group led by Republican heavyweights will launch its first seven-figure ad campaign this week. The target: legislation taking aim at a key source of revenue for Visa and Mastercard.