Payments

City sues seven banks for alleged price fixing on floating-rate bonds; analyst says “the most negative revelations are yet to come” in the 1MDB scandal.

The Electronic Transactions Association has appointed one of its executives, Amy Zirkle, to serve as interim CEO while the organization begins its search to replace Jason Oxman.

The move, reported by The Wall Street Journal, could be part of a deeper foray into cobranded cards by Goldman, which has been expanding into consumer finance through its Marcus unit.

The all-in-one card market has been a dead end for many years, with products like Coin, Swyp, Stratos and Plastc doomed to be mere footnotes in the history of fintech. Curve is determined to avoid the same fate, and it says PSD2 is its ticket to success.

More than three dozen organizations are asking the FDIC to reject Square’s pending application to become an industrial loan company, according to a letter filed Tuesday.

The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue.

Payments Canada, which provides clearing and settlements, has hired payments infrastructure firm SIA as the application provider for Lynx, its new high-value payments system.

The Michigan-based institution also awarded $315,000 in bonus reward points to members who use the CU's credit card.

Whether they process cards, bank accounts, cash, or whatever comes next, digital payment systems must be reliable, flexible and ever-advancing, writes Michael Kaplan, chief revenue officer at PayNearMe.

As blockchain and other emerging innovation pour into the B2B market, Bottomline Technologies believes bank collaborations with smooth deployment and user experience can lure anxious businesses away from checks.

Dan Schulman predicts digital payments market may reach $100 trillion; the bank exiting Estonia, Latvia, Lithuania and Russia.

Consumers are expressing an ever-increasing interest in making digital Person-to-Person payments to friends, families and even businesses for bills, shared expenses or temporary loans. Digital P2P payments are quickly beginning to displace other payment forms such as cash and checks due to their convenience and growing ubiquity.

When a cryptocurrency exchange is unregulated, you need to investigate its security practices yourself, writes Phillips Nizer LLP's Patrick Burke.

States are changing how they regulate bitcoin, but convincing merchants and consumers to jump-start a dreary cryptocurrency payments market is another matter.

While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening.

Furniture retailers typically split payment for big-ticket items with a deposit and the balance due upon delivery, but the process is usually fraught with paperwork, security and efficiency gaps.

In the tug-of-war over merchants refusing either cash or cards embroiling local governments in New Jersey, New York City and Philadelphia, the Iowa State Fair is taking the middle ground. Beginning next year, all fair vendors will be required to accept cash, cards and contactless payments through First Data’s Clover devices.

The venture capital arms of Alphabet Inc.’s Google and Salesforce.com Inc. are investing in U.K. payments startup GoCardless, which has has raised an additional $75 million to fund expansion.

The cross-border B2B payments startup is introducing a rewards program to help drive repeat usage and expand its network.

Visa and Mastercard plan to raise interchange while battles over those rates and other levies such as merchant surcharging rage on, setting the stage for extra merchant expense, consumer costs and even more squabbling.