Payments

Financial institutions say it would require them to overhaul their payments technology, deprive them of revenue and force them to pass added costs on to merchants and consumers.

As installment lending becomes more popular, regulators in the U.S., Europe and Australia are considering new restrictions or taking action against lenders.

The speed of money movement represents the future - success for those who deliver, challenges for those who don't

The bank-backed peer-to-peer payment network enables Allstate to offer quick payouts to policyholders, and it is working to provide a similar service to other insurance companies.

The Indiana-based online banking pioneer is purchasing First Century, a similarly tech-savvy company, for $80 million. The deal would diversify its revenue and improve its prepaid card offerings for small businesses.

Fintechs have begun offering consumers installment-lending options to pay for airfare, putting competitive pressure on banks and credit unions that rely on travelers for significant credit card volume.

European authorities have linked the operation to investment scams that predate its sale to ING in 2018.

The bank tapped Antony Stephen, former head of Amazon Payments Europe, to oversee its move into small buy now/pay later loans. It is also reportedly seeking a partnership with the e-commerce giant in the U.K.

The card network plans to use technology acquired from CipherTrace to offer compliance and risk management services to firms that handle digital assets.