Payments

The embattled credit card company, which is bracing for regulatory action, warned Thursday that heavy spending on risk management and compliance will persist. Executives also said that internal and external candidates will be considered for the permanent CEO job.

The data-aggregation specialist will refer businesses to a payroll tech firm to streamline the process of setting up direct deposit at a new bank, as more people move their accounts to obtain better rates.

Merchants may rake in 14% to 200% more revenue from consumers who forgot to cancel online subscriptions paid for by credit and debit cards, according to a new study based on anonymized consumer transaction data.

Bank of Ireland ATM glitch spurs mistaken withdrawals, Stablecoin issuers get rules in Singapore, ANZ is looking for money mules, and more.

Visa Inc. is facing fresh scrutiny from the US Justice Department over how it charges merchants for technology it uses to protect cardholder information.

President and COO Dave Glaser discusses his company's strategy as demand builds for services that could stress older systems.

Discover Financial Services' announcement of the immediate resignation of longtime executive Roger Hochschild comes weeks after the company announced it overcharged merchants for 16 years.

The fintech is relying on Alex Chriss' experience in melding technology with marketing to ignite growth with small-business and consumer users.

The shift to faster payments–plus frustration over network interchange costs–is increasing merchants' use of services that pull money directly from consumers' bank accounts.

The product, which is both popular and controversial in consumer financial services, is attracting interest from merchants that don't want to pay high interest for a traditional loan.

Corporations are leaning harder on virtual cards as post-pandemic business travel ramps up amid hybrid work arrangements, according to a new Mastercard survey. Visa separately has extended its collaboration with virtual-card technology provider Conferma Pay.

Fraudsters are using sophisticated skimming devices to steal more card data — and they aren't afraid to encroach on bank property to do so, according to new data from Fair Isaac Corp.

As part of its resurrection plan, the terminal maker will pursue financial inclusion and growth markets for ATMs as it prepares for its relisting on the New York Stock Exchange.

In global news this week, Microsoft is working with the London Stock Exchange Group on artificial intelligence, Apple's mobile wallet debuts in Vietnam and more.

Bank of New York Mellon, U.S. Bank and others are looking at how the Federal Reserve's instant settlement network could safely speed up routing, payroll and billing.

The Alabama bank is rolling out an online platform for corporate clients to manage billing-related communications with their own customers.

U.S. consumers set a new record during the second quarter, as card debt reached $1.03 trillion. Bankers say a healthy job market has allowed consumers to keep making their monthly payments, but they're also on guard about the impact of the upcoming resumption of federal student loan payments.

Despite faster payments' momentum, fragmented systems and cash's resilience continue to hobble cross-border peer-to-peer remittance speed, says MoneyGram CEO Alex Holmes.

The payment company's sizable audience and existing technology differentiate it in a market that is otherwise dominated by startups.

Deployments picked up speed during the pandemic, and have continued into this year as commuter networks try to win back riders.