Payments

In this week's banking news roundup: NCUA grants Tribe Federal Credit Union a provisional charter; ICBA Payments names Jacob Eisen its new president and CEO; Mission Fed Credit Union announces new role for longtime leader Steve Hasbrooke; and more.

The rise of ecommerce and vertical software-as-a-service platforms are prime opportunities for large banks to sell payment processing, card issuance and other banking capabilities.

Retailers like Walmart, Target and Dollar General are changing the ways they collect payments in person. This, in turn, could influence payment habits, but it is unlikely to slow the overall momentum of digital transactions.

A new tool from the San Francisco-based fintech deploys artificial intelligence to automatically adjust merchants' card transaction fraud filters based on changing risk factors in real time.

Payment firm BVNK is betting that PYUSD's potential to connect to PayPal's network of millions of consumers and businesses will make it more than another investment currency.

The Swedish financial institution argues over potential regulations that treat buy now/pay later lending like credit cards in the U.S.; Discover seeks the next hot market for real-time payments; and more.

The Illinois state legislature, as part of an agreement with retailers to raise state tax revenue, passed a budget bill that would bar the collection of interchange fees on sales taxes, excise taxes and tips for transactions that would be subject to Illinois sales taxes.

Rather than compete against the rising tide of account-to-account transactions, the two card networks are looking for ways to make themselves essential to this growing market.

By embracing collaboration and innovation, Canadian banks can position themselves at the forefront

New technology decoupling payment cards from the funding source of the transaction would stimulate competition between card issuers and networks — and raise prospects for Capital One's proposed $35 billion acquisition of Discover Financial Services.