Payments

Canada’s credit unions have been losing out to the country’s banks in terms of business banking market share, and have struggled to keep up with the banks’ capacity for technological innovation. Central 1 wants to redress this imbalance in the credit unions’ ability to compete with the banks.

Jim DeBello will leave his post as CEO of digital capture and mobile identity company Mitek, one of a handful of high-level personnel moves at the company.

To expand its Asia Pacific regional reward redemption program, Pay with Points, Citi announced that it is enabling credit cardholders to spend their rewards points and miles to pay for a Spotify premium account.

Wirecard is expanding its reach in Brazil by enabling small businesses and to send funds and pay bills through its digital platform, with plans to add card payments this year.

In the same way a card skimmer steals credentials at an ATM, gas pump or point-of-sale terminal, the Magecart malware hides beneath the surface of a website with a digital skimmer to obtain card and personal information.

To compete with fintech startups, banks need to find more ways to use the mountains of data already at their disposal.

Small and midsize banks are most at risk as commercial loan volume fails to ignite; the cutbacks are partly the result of lower origination volume.

When Chris Winship, partner of FTV Capital, paid $35 million in private equity funds for a slice of the digital gift card player Tango Card in May 2018, he did so with the expectation that he would quickly find a buyer.

The Texas bank, which partners with the U.S. Treasury to dispense federal benefits via prepaid cards, is alleged to have dropped the ball as hundreds of cardholders say their money was forwarded to fraudsters posing as them.

Google can’t underestimate the importance of its maiden voyage with Google Wallet and the lessons the company learned in being one of the first to offer payments through cellphones in the U.S.

The CFPB nominee wins approval from the Senate Banking Committee by a 13-12 vote; the country is looking to borrow $11 billion after Aramco IPO is delayed.

It’s been a rough year of politically charged headlines and financial woes for Facebook, pressuring the social network to do more with its Messenger app's huge and largely unmonetized user base.

After the 2008 banking crisis, centralized payment systems and financial services don’t have as much appeal to the younger set as a more transparent decentralized system, argues Csaba Csabai, founder and CEO of Inlock.

Despite recent scrutiny of mobile point of sale devices, the mobile payments category as a whole has generally carried a promise of initiating a safer transaction through the use of biometrics, device ID, geolocation and other factors.

The real-time ticker of strangers’ spending habits could soon go away.

Remitly’s moves are clearly in response to the growing competitive pressure being placed in a key U.S. outbound corridor.

Upgrade, a marketplace lender founded by Laplanche just a few months after he was ousted from LendingClub, has secured more than $100 million in equity capital and says it is poised to offer more consumer credit products.

The best thing a banker can do today is regard the U.K. as a real-world fintech laboratory, track developments closely and seek opportunities to capitalize on change, writes Naomi Bowman, managing director for Berkeley Research Group in London.

As the digital rent market attracts new entrants like Zillow, mainstays like Cozy and YapStone are pressured to diversify and seek new audiences for their digital payments technologies.

The retailer-driven Merchant Customer Exchange initiative to create a common mobile wallet had good intentions, but it overlooked the nature of retail itself — that each company has to differentiate itself to lure customers.