Payments

Transaction volume and nonpayment services boosted earnings, and the card network expects these trends to continue into 2025.

A Supreme Court ruling from earlier this year regarding national bank preemption is already playing a prominent role in the banking sector's challenge to a state law on charge card fees.

The processor's sale of medical software firm AdvancedMD comes as it prioritizes small-business payments, according to Cameron Bready.

The global transfer companies made big moves this week, with Western Union buying Dash from Singtel Singapore, while former Walmart executive Anthony Soohoo will be the new boss at MoneyGram.

When TD Bank's $13 billion acquisition fell through, First Horizon was forced to quickly come up with a plan. Here's how the bank's culture of sharing ideas and inclusion helped.

The megabank disclosed that regulators are looking at its anti-money-laundering and sanctions compliance. Wells Fargo was recently hit with an enforcement action over similar matters.

CEO Ryan McInerney said the case showed a "clear lack of understanding of the payments ecosystem" after the payment card processor posted better-than-expected earnings.

Alex Chriss says the impact of new payment innovation and strategies at units like Venmo and Braintree will take time.

Payment professionals expect physical cards to stick around for the foreseeable future, even as mobile wallets gain traction.

Card networks, fintechs and Walmart have started major account-to-account payment initiatives in the past few weeks.

The credit card heavyweight said that it expects its acquisition of rival Discover will close in early 2025, pending the approval of shareholders and regulators.

With the payments industry looking for signs of consumer distress, the credit card company says spending is starting to stabilize and it's retaining customers at a strong rate.

New York Attorney General Letitia James asked a state court for permission to issue subpoenas to Capital One as part of an ongoing antitrust probe by the state,

With two excellent real-time payments rails now available in the U.S., enabling QR code transactions is essential. The financial services industry needs to come together and establish uniform standards.

The card lender took full control of Swisscard from UBS; the Financial Conduct Authority is bringing installment lending regulations in line with other consumer financial products; and more payments news from around the world.

The Consumer Financial Protection Bureau said Goldman Sachs failed to investigate tens of thousands of disputes, while Apple misled iPhone purchasers about interest-free payment options. The two companies were ordered to pay $89 million.

Section 1033 promised to increase competition in banking and improve the ability to offer novel payment methods, but experts say the regulation isn't clear enough to have a major impact.

Acting Comptroller of the Currency Michael Hsu said the bankruptcy of Synapse earlier this year highlights regulatory gaps around the state-based licensing of businesses that transfer money.

Stripe, Circle and Ripple all made deals in recent days to boost scale for a form of cryptocurrency that has struggled to reach mainstream consumers and businesses.

Deutsche Bank hired UBS' Aly Alibhai to head North American mergers and acquisitions; National Bankshares promoted Lara Ramsey to president; Apple Pay users in the U.S. and U.K. now have a pay later option through Klarna; and more in this week's banking news roundup.