Payments

The $650 million deal would add services for financial institutions seeking a faster path to upgrade their technology.

Stablecoins are unlikely to be the future of payments despite their growing market value in the last two years, according to a Federal Reserve Bank of New York blog post.

Six members of the Senate Banking Committee are asking questions about a flurry of lawsuits against credit card customers. The bank denies that it has resumed using robo-signing.

On Sep. 30, 2021. Dollars in thousands.

The Pakistan-based buy now/pay later startup is expanding to the U.S. and regional markets by introducing its one-click checkout product, its CEO says.

Earned wage access companies are finding that their product, which allows employees to receive a portion of their salary ahead of the traditional two-week cycle, can aid nurses and other professionals in addressing the work-life imbalance that contributes to the Great Resignation.

MVB Bank more than tripled its deposits in five years by providing accounts to sports betting sites, as well as technology companies that cater to other industries.

The increase was driven by small businesses including property managers, contractors and beauty salons.

Recognizing that many of the region's consumers are choosing startups, companies like Citigroup, JPMorgan Chase, Goldman Sachs, Santander and Scotiabank are taking stakes in nascent payment providers.

The upgrades merchants made to accept chip cards and mobile wallets have made it easier to add new services via software updates. NCR and other point-of-sale vendors are using these systems to support digital currencies without requiring new hardware.

Working with Bumped, TAB Bank is offering customers “cash back” as fractional shares of popular retailers.

U.S. lenders issued more credit cards than ever last year, with a growing share of them going to consumers with lower credit scores.

The "super app," which incorporates shopping, savings and other offerings, was well received by PayPal's users, but inflation and supply chain issues are likely to weigh on spending through the first half of this year, CEO Dan Schulman said.

Meta's departure from the crypto market removes a sizable potential competitor at the same time that nonbank issuers are bracing for tougher regulatory scrutiny.

On Sep. 30, 2021. Dollars in thousands.

The new product will help Barclays' U.S. bank reach customers who may not want — or qualify for — its cobranded cards. It's part of a strategy to reach more consumers after card balances declined last year.

The credit card issuer fielded questions about its fees two days after the Consumer Financial Protection Bureau announced a wide-ranging review of consumer charges. Executives said they would not take a big revenue hit even in the face of new limits.

Few banks have adopted an instant invoicing technology called Request for Pay, but more may get on board to help their customers avoid overdraft charges.

The card network hopes its enabling of digital payments could balance the scrutiny it faces over interchange rates in countries such as the U.S. and U.K.

The recent increase in online payments, whether through shopping or government disbursements, has created more openings for fraud. Companies and government agencies in Europe are trying to combat the problem by developing digital ID systems.