The Latest

  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
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    Lynne Marek/Payments Latest
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    Faster payments catch on slowly: survey

    About half of payments players surveyed recently by the U.S. Faster Payments Council said they have integrated faster payment technologies.

  • A smartphone displaying the Affirm app
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    Courtesy of Affirm
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    Affirm CFO doesn’t expect profits from its Apple tie soon

    The company’s finance chief compared the rollout of its partnership with Apple to the launch of its own payment card, saying the company preferred a “very thoughtful and controlled” approach.

  • CFPB Director Rohit Chopra
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    Chip Somodevilla via Getty Images
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    CFPB House hearing: 6 key takeaways

    House Republicans expressed frustration that the Consumer Financial Protection Bureau decided to treat buy now, pay later loans like credit cards, while Democrats pushed for faster, cheaper remittance options.

  • People mill around an Apple store at location in Maryland.
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    Chip Somodevilla via Getty Images
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    Apple to drop its BNPL option in US

    The tech giant said it will discontinue its buy now, pay later service and shift to offering consumers alternative payment options.

  • Shift4 CEO Jared Isaacman
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    Courtesy of Shift4. Shift4 CEO Jared Isaacman
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    Shift4 acquires stake in German firm

    Shift4 is on an acquisition spree after making a new investment in the point-of-sale supplier, and closing of a purchase announced earlier this year.

  • Wise money transfer account
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    Permission granted by Wise
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    Wise persists with reduced pricing approach

    The fintech plans to continue its strategy of reducing prices for its customers, which is reflected in its forecast, interim CFO Kingsley Kemish said.

  • A close up view of a stack of visa bank cards.
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    Justin Sullivan via Getty Images
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    Landmark Visa, Mastercard settlement in peril

    The judge's likely rejection would scuttle a $29.79 billion deal that was two decades in the making.

  • Brex CEO Pedro Franceschi pictured against a grey background.
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    Courtesy of Brex
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    Brex moves to single-CEO model

    Pedro Franceschi will become sole chief executive, while co-founder Henrique Dubugras will move to board chair as the company aims to go public in 2025.

  • Stack of credit cards spread out
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    alexialex via Getty Images
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    Startup offers ‘credit-building’ debit cards for Gen Z

    Startup Fizz is marketing itself as a company helping college students build credit and manage daily spending.

  • The Apple logo at the Fifth Avenue New York City Apple store.
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    Eric Thayer via Getty Images
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    Apple adds BNPL offerings from rivals

    The tech giant will allow installment plans from Affirm, as well from certain debit and credit cards, onto Apple Pay alongside its own BNPL service.

  • The eBay logo is displayed on the roof of eBay headquarters.
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    Justin Sullivan via Getty Images
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    EBay to accept Venmo

    A week after dropping American Express, the online auctioneer said it will now accept payments through Venmo, a digital tool popular among Gen Z and millennials.

  • Two Apple iPhone 14 models
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    Courtesy of Apple
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    Apple unveils new iPhone touch and pay feature

    The P2P ‘Tap to Cash’, which enables iPhone users to transfer money by holding their phones together, was unveiled along with a slate of other features Monday.

  • Cyberattack and internet crime, hacking and malware concepts.
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    Techa Tungateja via Getty Images
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    Opinion

    Fighting deepfakes via payments

    “Since many of these deepfake software services accept credit cards, payments providers are on the front lines of detecting these companies,” writes one corporate compliance officer.

  • A person holds open an envelope filled with cash.
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    D-Keine via Getty Images
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    Cash use persists in US beyond pandemic

    Consumers remained committed to cash use last year, even as the share of card payments rose and online payments increased, according to an annual Federal Reserve study.

  • Hand of person tapping phone with dollar signs floating up
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    1401461124 via Getty Images
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    Q&A

    Upcoming ISO 20022 transition leaves some finance players scrambling

    The move to ISO 20022 is coming late next year and many financial institutions remain unprepared for the switch.

  • Close up of easy payment by credit card or smartphone application Greenhouse workers selling pottered flowers.
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    whyframestudio via Getty Images
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    Rivals Adyen, Stripe partner with Capital One to combat fraud

    The three companies announced last Wednesday that they are teaming up to launch a free service intended to combat fraud and reduce the amount of transactions that are improperly declined.

  • Mastercard point of sale, retail
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    Courtesy of Mastercard
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    Mastercard shepherds seven startups

    The card network has selected a group of next-generation payment and banking startups for its accelerator program.

  • Illinois state capitol building in Springfield
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    tacojim via Getty Images
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    Illinois heads toward landmark card interchange fee restrictions

    The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.

  • Affirm to acquire Returnly.
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    Courtesy of Affirm
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    Affirm adds new options in bid to battle cards

    The buy now, pay later provider now offers two 30-day payment plans; one that allows for full payment and another that splits a purchase in two, in addition to its “pay in four” offering.

  • Rohit Chopra discusses the impact of student debt on the individual borrower and the public at a Consumer Financial Protection Bureau hearing on May 8, 2013.
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    Retrieved from Consumer Financial Protection Bureau.
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    CFPB finalizes open banking standard-setter rule

    The bureau will consult public interest groups and app developers on open banking standards, and no single special interest can dominate the standards-making process.

  • The exterior of the New York State Capitol in August 2021 in Albany, New York.
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    Michael M. Santiago/Getty Images via Getty Images
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    New York races to pass BNPL bill

    State lawmakers are negotiating three separate proposals related to the buy now, pay later industry ahead of the end of the legislative session on Thursday.

  • The eBay logo is displayed outside company headquarters.
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    Justin Sullivan via Getty Images
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    Amex dismisses impact of eBay’s rejection

    EBay will no longer accept American Express, but the credit card company said in a statement that the online auctioneer accounts for a minuscule portion of its total business.

  • Patients wait to check-in at a line of kiosks to get vaccinated.
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    Sergio Flores/Getty Images via Getty Images
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    Waystar envisions $20B healthcare payments market

    The software provider offered its outlook as it seeks to take the company public and expand its business.

  • The photo shows cannabis plants growing in a greenhouse.
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    Drew Angerer via Getty Images
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    Pot payments players crave federal reforms

    The Safer Banking Act and federal rescheduling of marijuana could simplify transactions for payments companies doing business in the arena.

  • Zelle's new ad campaign
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    Courtesy of Early Warning Services (parent company of Zelle)
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    Early Warning launches campaign to warn seniors

    The parent to payments service Zelle aims to inform seniors about scams as it faces congressional scrutiny over its fraud reimbursement practices.