Payments

AWS's recent tech summit, with strobe lights and throbbing sound system may have felt more like a music festival than a conference, but one thing was clear: the symbiotic relationship between the online juggernaut and financial services runs deep.

The retailer is ending its nearly two-decade credit card relationship with Synchrony Financial; Mulvaney says the bureau will first negotiate, not sue, to settle disputes.

Since the marketplace model is relatively new, the vast majority of the merchants selling through that channel are new too, meaning they do not have the track record that banks look for when providing loans, writes Keith Smith, CEO of Payability.

Mark Horwedel, the outgoing Merchant Advisory Group CEO, wasn't always on the merchants' side. Through much of the 1970s through 1990s, his career path placed him firmly in the world of bankers.

The money flowing into alternative merchant acquiring is feeding an arms race, with each new deal adding pressure to become an automated one-stop shop for small businesses.

The person-to-person network also saw $28 billion in payments in the quarter and it added more bank members.

A smaller tax bill and a double-digit growth in card loans offset weakening credit quality at the Riverwoods, Ill., company.

Synchrony Financial said its credit-card deal with Walmart won't be renewed and will expire next year. The largest issuer of store cards said Thursday that it's evaluating whether to sell the $10 billion in balances or retain the portfolio and convert qualifying customers to general purpose credit cards.

Dunkin’ Brands, parent company of Dunkin’ Donuts and Baskin-Robbins, is extending its deal with mobile app maker CardFree to increase its efforts to close the mobile coffee-sales gap with its rival, Starbucks.

Stripe Inc., a startup that lets businesses and websites easily accept money online, now wants to help them spend it by introducing a new product: credit cards.

Forget the stereotype that a cybercriminal has to be tech-savvy to get the job done. Their true gift is in social engineering.

Flywire has raised $100 million in new venture capital to continue expanding its B2B cross-border payments platform beyond educational institutions to more corporations.

Zelle, the bank-owned P2P network operated by Early Warning, saw an 11% increase in payments volume during the second quarter from the previous quarter as it gradually adds financial institutions to its network.

The jewel in PayPal's crown — Venmo — has lost some of its shine.

Mastercard's strong performance is dampened by threats from trade disputes and Brexit, both of which could cause the company pain in the future.

American Express' blockchain patent application isn't just about payments: It could also radically change how card-based merchant offers are made and allow them to become much more targeted.

Consumers are already in shopping mode, so retailers that focus on personalized and targeted offerings, and promotional campaigns around Prime Day can all reap the rewards of the Prime Day halo effect, according to Tom Caporaso, CEO of Clarus Commerce.

Spending on the firm’s U.S. credit-card products climbed to $493 billion during the fiscal third quarter, when outstanding card debt reached a record in the country.

Dan Loeb’s big bet on PayPal Holdings Inc. is off to a rough start. The payments giant projected revenue below analysts’ estimates for this quarter and saw Venmo growth continue to slow, causing concern among Wall Street analysts that had been bullish on the app’s potential.

WEX will support Visa’s virtual credit cards for corporate payments, expanding the international digital payment options for WEX’s B2B customers.