Payments

Venmo’s P2P social payment app has become a major part of PayPal’s retail strategy, a play that’s getting a boost from a Synchrony co-branded credit card.

If banks and customers take steps to quickly adapt to the change now, the benefits will soon be realized, says Sage's Adam Prince.

The U.K.-based fintech says that a recent crowdfunding campaign shows demand for its product, even though the amount it raised is well below funds obtained from VCs.

New technology allows AmEx to see a startup’s bank balance to let fledgling firms qualify for cards, said Anna Marrs, president of global commercial services.

Issuers often offer several types of cards, but cling to older methods of communicating with users, contends BelWo's Doug Cox.

Technology companies like Square and Stripe have nimbly captured small-business share from banks that often overlooked the segment. Royal Bank of Canada is trying to respond through a mix of merchant services, tied to the national debit system and incentive marketing.

With policymakers casting doubt on Facebook's cryptocurrency and some of the social media giant's partners pulling out, a Federal Reserve governor continued the drumbeat of criticism.

Making a domestic or cross-border B2B payment should be as easy as a consumer making a payment at a retailer's point of sale. There are plenty of obstacles toward this goal, but also plenty of paths to success.

Digital services are gaining momentum, and traditional plastic cards are adding innovation to keep up after years of lagging, says FIME's Stéphanie El Rhomri.

The Facebook Inc. executive responsible for the embattled Libra cryptocurrency said he doesn’t fault companies that pulled out of the project, adding that he’s optimistic more organizations will sign on despite intense opposition from politicians who seem to fear financial innovation.

Even the homeless are getting on board with contactless payments, through a new U.K. wide initiative between Swedish payments company iZettle and the Big Issue Foundation, which enables homeless people to become street vendors by selling its its Big Issue magazines.

Its quarterly results show lower rates and emerging credit risks can be overcome. Whether most banks have all the same levers to pull is another matter.

CEO Michael Corbat said he “wouldn’t rule out” building branches to keep the momentum going.

American Express is adding a new dimension to its year-old partnership with PayPal by giving credit card customers more options for splitting a restaurant check and paying with loyalty points.

Wirecard AG fell the most since February in Frankfurt after a news report said it found repeated questionable accounting practices at the German payments firm.

Better-than-expected trading results also helped to boost net income.

Consumer banking is expected to offset the banks’ underperforming Wall Street units; the defections of Visa, Mastercard and Stripe threaten the cyrpto project’s viability before it starts.

South Africa’s payments industry wants to displace cash by enhancing its B2B-focused digital payment system to add instant low-value mobile P2P transactions.

Banks shouldn't let the legal and regulatory hurdles deter them, attorney Felix Shipkevich says.

The facial recognition development trail is dotted with starts and stops in its search for consumer adoption, from Mastercard's "selfie pay" to Apple's 3-D facial scan tests and the Federal Trade Commission's approval of biometric authorization.