Payments

Dynamics Inc. has been committed to bringing high-tech multi-account cards to market for years, but it's tough to sell banks on pricier plastic in the age of mobile wallets and e-commerce.

The San Francisco startup behind the cryptocurrency XRP claims it can send money around the world faster, cheaper and with greater transparency.

Despite the mad rush among investors to buy up bitcoin, XRP and other prominent cryptocurrencies, these digital coins have largely failed to operate as instruments for payment. MoneyGram's deal with Ripple might change that, or it might be the first nail in the crypto coffin.

Criticism of payday lenders is deserved and Congress should not throw out the CFPB's short-term lending measure.

Ripple, the startup looking to help the financial industry speed up payments with blockchain technology, said MoneyGram International Inc. is testing the use of its XRP digital currency to move funds.

While the intermediaries that record and verify transactions such as payments are removed, the remaining parties may not be ready for shifting responsibilities to guarantee transactions, writes Sebastian Venderzeil, a director at Cornerstone.

The central bank is beginning to consider the possibility of a “digital dollar,” which will foster more efficient and transparent payments.

The Colorado-based credit union will disburse payments to members all year long.

The payments company will pay $321 million for Crestmark Bank, a commercial lender that focuses on asset-based lending, equipment finance and government-guaranteed loans.

With most of the major card brands deciding to no longer require signature authorization on card transactions, merchants want to see more network rules go the way of the dinosaur.