Payments

Avid Modjtabai, who runs Wells Fargo's payments and technology innovation unit, is leaving the firm as new Chief Executive Officer Charlie Scharf continues to shake up top management.

The CFPB has promised an equal-access rule for small-business lending for nearly a decade. But Apple’s recent discrimination inquiry into its credit card could force the agency’s hand.

Fed governor again calls for using the countercyclical buffer at banks; bank borrowing from Fed on pace for lowest total ever.

New fintechs, particularly those that handle data, will falter without transparency and information stewardship, says AvidXchange's Steve Boehm.

By attaching to Honey and its base of 17 million mostly young, female consumers who use the platform to find the best price on e-commerce deals, PayPal also is aiming to get closer to merchants with customized offers.

The most recognizable brands in retail are making substantial investments that connect digital and offline channels, with results that have been encouraging enough for Target to get on board.

Deluxe Corp. will take over bill payment processing for private-label credit card issuer Synchrony beginning next year, absorbing Synchrony’s remittance operations and employees in Florida and Georgia.

The complexity of solutions leaves a space for outside competitors to gain share, says Token's Todd Clyde.

If the deployment of faster payments came with a guarantee to boost a financial institution's bottom line, more banks and businesses would likely invest in bringing their legacy systems into a new age.

In a move that accelerates Western Union's plan for its money transfers to be part of advancing digital technology, the cross-border payment provider has entered an agreement with Amazon Web Services for long-term cloud services.

Alliance Data Systems Corp. planned on hiring Citi's Ralph Andretta as the top deputy to its new chief executive officer. Instead, it decided to name him as her replacement.

Billionaire Jack Ma’s Ant Financial Services Group said it may apply for a virtual banking license in Singapore, a move that would add a heavyweight contender to the race.

The company is reportedly paying bonuses to get retailers to accept its cards; both sides offer different take of rare get-together.

As deployments accelerate it's hard to ignore the validity of cryptocurrency. But there's still work to do, says Polyient Labs' Brad Robertson.

Bryce VanDiver and Daniela Hawkins at Capco make the case that offering easy-to-use payment rewards is the way to win the loyalty of digital-only customers.

Wirecard will begin giving German users of its boon Planet digital account 0.75% interest on funds held in the prepaid card account beginning next year.

Zazu Limited, a Zambian fintech, has partnered with Mastercard to launch a mobile wallet that supports a prepaid account instantly issued from the app to any local consumer — with or without a bank account.

It’s only a matter of time before Silicon Valley “overturns more complex banking functions”; banks would have to help FinCEN identify suspicious firearms sales.

Up against the rising success of social payments providers like Venmo and Square Cash, banks are deploying more options to keep themselves at the focus of digital payments.

Consumer trust issues have long been a stumbling block for challenger banks, but many say Google will face bigger obstacles.