Payments

By creating a close tie between digital debit cards and the major third-party mobile wallets, Bank of America is doing something few banks are — and expecting a payoff in broader use of digital financial services and “top of wallet” spending.

Citigroup will be the first major issuer to use Mastercard technology to give U.S. credit card holders the ability to instantly redeem points on eligible purchases online and through a mobile app.

The speed and the bipartisan nature of the demand for an investigation into Facebook's Libra are telling, giving ammunition to those who warned the cryptocurrency space is underregulated and unsafe

This year’s payments industry mergers have exposed numerous corporate, geographic, product and talent gaps, yet perhaps few payment types are more challenging and stuck in the past than health care.

The wife of a jailed Azeri banker, the target of the U.K.’s first unexplained wealth order, spent almost 16 million pounds ($20.4 million) across Europe, including at Harrods and luxury boutiques, on 10 credit cards issued illegally by her husband’s bank.

Merchant holdouts are finally warming to the likes of Apple Pay, years after the mobile wallet's launch. Competitive offerings have also flourished from mobile operating systems and phone providers.

Compliance can be complex and expensive, but failure puts merchants at risk, says FIME's Christian Damour.

Banks are rightly focused on PSD2 as an international gateway for fintechs to disrupt banking, though potential deregulation in Singapore can give digital payment companies another route to take share directly away from banks.

Facebook's plans to launch its Libra cryptocurrency dominated much of the discussion at American Banker's Digital Banking conference last week, but attendees also debated what big tech company might strike next and what future digital innovations are in store.

A customer who sued Chase over credit card interest charges is now asking a judge to order the bank to stop notifying cardholders about its plan to reinstate arbitration.

Libra has only been public for a few days, but it has been enough time for regulators around the world to savage the project and schedule hearings. Jorn Lambert, executive vice president of digital solutions for Mastercard, said the project's objectives are aligned with the regulators' concerns.

Public-sector development of a speedier settlement service, to operate alongside the one being developed by The Clearing House, is crucial for seeing that institutions of all sizes are able to take advantage of this technology.

The Facebook digital-currency unit has a logo nearly identical to that of the challenger bank Current, which has been around since 2015.

Hackers are flocking to loyalty and rewards programs, pushing marketers to embed extra fraud technology to stem financial losses.

Bill Ready, the former CEO of Braintree who helped PayPal build its digital strategy over the past six years, announced plans to leave the company.

Community bank executives, payments officials and others said Libra faces an uphill battle amid heavy competition and regulatory scrutiny.

Large U.S. banks and merchants are finally working together to support contactless payments. But two of retail's biggest chains, Walmart and Kroger, aren't on board, and for good reason.

On Dec. 31, 2018. Dollars in thousands.

Apple Inc. is ramping up a test of a digital-first credit card with Goldman Sachs Group Inc. by expanding its use to tens of thousands of the iPhone maker’s U.S. retail employees.

Today’s employees bring their own devices to work, split their time across multiple screens, and can conduct their jobs from anywhere. Business pay has to match that reality, says Billtrust's Flint Lane.