Payments

The two fintechs will increase distribution of a 'pay by bank' option that has picked up steam in recent years as merchants and consumers seek relief from card fees.

Whether red or blue, leaders share an affinity for battling fintech giants, as the liberal mayor is pressuring regulators to scuttle Western Union's plan to buy digital transfer Intermex, shortly following PayPal's 'DEI settlement' with the Trump administration.

Prashant Sharma, JPMorgan Payments' executive director of biometrics and identity solutions, spoke with American Banker about agentic commerce and how liability is shifting as a result of large language models.

New Federal Reserve stats show most consumers carry and store paper money, even as digital payments become mainstream.

As short-term liquidity products gain popularity with consumers, credit unions are looking for new ways to keep their members from looking elsewhere.

Given new government rules on payment processing, giants like Bank of America, Chase and Wells Fargo would benefit immensely from acquiring proprietary debit card networks. Why they haven't done so already is a mystery.

The neobank put its multi-use card in the hands of even more consumers in the first quarter, reaching 5 million users. That has resulted in increased membership fees and average revenue per consumer compared with non-card-wielding customers.

The two banks are among the large firms that are pouring $4 billion into DeployCo, a large-scale enterprise artificial intelligence venture born out of OpenAI's acquisition of AI consultant Tomoro. Payment technology experts say the deal gives the banks improved access to development expertise as new forms of AI penetrate all aspects of banking.

Lawmakers are moving toward a compromise that would ban yield payments on stablecoins, but allow other rewards. The distinction is functionally meaningless, and leaves small banks in danger of losing deposits.

The payment company will waive transaction fees totaling about $30 million for veteran-owned, farming, manufacturing or technology-based small businesses following an investigation into a 6-year-old former investment program designed for Black and minority-owned small businesses.

At its first investor forum since 2023, Affirm outlined its plans for Affirm Edge, an attempt to build broader networks for its buy now/pay later loans through bank integrations.

Financial institutions, regulators, and developers are aligning around a common goal of creating infrastructure that makes our global financial system faster, more efficient, and more secure.

The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.

Parker Group unexpectedly ceased operating last week, then filed for Chapter 7 bankruptcy a few days later as sponsor banks and customers were left scrambling.

The payments fintech is hoping its listing on the Nasdaq will bring it greater visibility in the U.S. market, a region that the company says represents the largest growth potential.

With regulatory scrutiny on the rise, banks are putting payment collaborations under the microscope.

Banking groups that sued the state of Illinois over its law barring banks from charging interchange fees on taxes and tips cheered an appeals court ruling remanding the law to a lower court and vowed to keep the law going into effect, which is slated for July 1.

Affirm CEO Max Levchin said that the company did not have any plans for AI-spurred layoffs despite the fact that it was using the technology more for software engineering.

Leaders from Wells Fargo, JPMorganChase and more talked about how banks can respond to the fast-moving changes in money movement, new forms of artificial intelligence, fraud, digital assets and more.

The payments company posted strong adjusted earnings following a dramatic downsizing, which management attributed to the influence of artificial intelligence.