Payments

Retailers have raised the bar in how they attract customers through rewards and loyalty programs, but not all are well-versed in how their technology also lures fraudsters.

With more players joining the lending industry, it's becoming a more crowded space, and business owners weighing their options are a bit overwhelmed, says Luke Intuit's Luke Voiles.

During a probe that grew out of the Wells Fargo scandal, BofA has acknowledged instances of "potentially unauthorized" accounts but said that the number of examples was "vanishingly small."

It's not a reaction to JPM Coin, the banks says, but a way to speed up international payments for corporate clients.

Travelex is rolling out a suite of B2B payment services through a new API-based platform and sandbox.

Giants like Facebook, JPMorgan Chase and Walmart are all pushing blockchain for myriad use cases, and now Wells Fargo has joined the fray with its own spin on the distributed ledger technology.

A proposal to define wages-on-demand would protect consumers and serve as an example for others.

The Ottawa-based company plans to offer tools including online store design, payment, shipping and marketing in more than 40 states to merchants of hemp-derived cannabidiol, which was legalized in December and is found in everything from skin creams to snacks.

Credit unions are upping their involvement in all things related to payments in an attempt to bolster the bottom line and ensure they keep up with the competition.

The CFPB’s enforcement action against Maxi suggests that the CFPB may more aggressively enforce certain rules going forward, writes Jeffrey Alberts and Dustin Nofziger of Pryor Cashman.

Goldman Sachs, Elevar Equity and QED Investors are among institutions financing Mexican lenders that fund SMEs.

Mission Lane, which was spun off from LendUp in December, said Monday that Shane Holdaway took the helm in August after roughly a year serving as CEO of Barclays' U.S. consumer bank. The upstart lender also announced that it has raised $200 million in equity funding.

Plaid, the San Francisco-based financial technology infrastructure provider, has received strategic investments from Mastercard and Visa as part of a $250 million round of funding. Plaid did not disclose the two networks' specific investments.

Hackers go in for the kill when challenger banks and others launch retail products. So the companies are forced to step up their defenses — fast.

Telling staff the tech frees up time is an important part of bot-enabled payment strategy, says Troovo's Kurt Knackstedt.

The move adds heft to the blockchain-based Interbank Information Network; many of those terminated in the phony accounts scandal say they’ve been blacklisted.

In response to rising concern about the environment, American Express has redesigned its classic Green Card to contain recycled plastic gathered from the ocean.

Consumers and banks are both concerned about security tied to contactless payments, says Fingerprints' Lina Andolf-Orup.

It's long been understood that transit systems are fertile ground for payment innovations.

The credit card issuer has hired John T. Greene, a former pharmaceutical industry executive, to succeed Mark Graf, who announced his retirement over the summer.