Payments

CEO Michael Miebach told analysts that a court's dismissal of an earlier agreement on interchange charges is disappointing, and he hopes to avoid a trial.

Instances of check fraud have ballooned in recent years, plaguing banks, and they don't seem to be slowing down. Probably the best thing regulators can do to combat that fraud is to develop an equally inexpensive alternative that is more secure, and FedNow might be that service.

CEO Alex Chriss contends the payments company can get a boost from greater access to mobile payment technology while competing against the technology giant on other fronts.

New funding would increase valuations for both firms, reversing a slump that has impacted the entire industry for the past two years.

The store-branded credit card company revised its revenue guidance upward on the assumption that the CFPB's late-fee cap won't take effect before 2025. Still, Bread is moving ahead with plans to make up some of the revenue that it stands to lose from the contested rule.

As a senator, the likely Democratic nominee for President championed an agency that did early work on payment technology, setting the stage for a central bank digital currency.

The big box retailer's move comes amid a broader decline for the traditional payment option.

The payments company is pulling Cash out of the U.K. as it tries to expand the peer-to-peer app in the U.S.; firms in Hong Kong and Australia try to make stablecoin transactions global; and more.

Sen. Richard Blumethal, D-Conn., chair of the Senate Permanent Subcommittee on Investigation, asked bankers whether the Electronic Funds Transfer Act should be updated to include scams that involve authorized fund transfers.

A federal judge recently rejected an agreement on transaction fees, ensuring that a multi-year battle between the credit card companies and merchants will continue. Ryan McInerney vented during Tuesday's earnings call.

The credit card giant increased its allowance for credit losses by more than $800 million following the termination of a partnership with Walmart.

With the government contract for Direct Express, Bank of New York would gain a free liquidity source of more than $3 billion in deposits a month and expand its burgeoning offerings to the underbanked.

Nine international fintech companies are participating in the credit card network's accelerator program.

The financial institution has focused on boosting revenue from a segment that has struggled due to the impacts of the pandemic and high inflation.

The bank plans to turn away transactions for apps like Afterpay, Affirm, Klarna and others. Its move comes as these third parties face increasing scrutiny from regulators and industrywide concerns over risk.

The credit card company is seeing fewer customers fall behind on their payments. But with lower-income consumers still being pinched by inflation, Synchrony isn't loosening its lending standards.

The credit card giant says its proposed acquisition of Discover would facilitate a bevy of community development activity and philanthropy. But some public advocacy groups are skeptical.

CTrust is providing scores specific to the legal weed business, an industry that poses a lot of challenges and opportunities for banks and other lenders.

The Chinese technology giant is partnering with BNP Paribas to reach more merchants; Sequoia makes an investment offer that could boost confidence in Stripe; and more.

Early Warning Services CEO Cameron Fowler will join bank executives at an upcoming hearing in the Senate Permanent Subcommittee on Investigations to discuss fraud on the Zelle payments network.