Payments: Page 19
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Opinion
Is finance ready for the super-app revolution?
With a market of specialized fintech offerings and a customer base hungry for streamlined solutions, there's a race to become the provider of all services. The burden lies on the platform provider to deliver an exceptional experience.
By Kathryn Petralia • Nov. 5, 2021 -
First Internet Bank to expand into payments with $80M First Century purchase
First Internet CEO David Becker said the deal solidifies the bank's position as a "growth-oriented financial services company," and First Century’s payments business will be a key source of revenue going forward.
By Anna Hrushka • Nov. 3, 2021 -
Trendline
Data-driven disruption
More often than not, an innovator may see disruption as an enhancement to be embraced. And sometimes the innovators are the establishment.
By Banking Dive staff -
Valley Bank unveils payments app for cannabis businesses
Valley Bank is partnering with a large processor to offer the service, which is similar to using a reloadable Starbucks wallet gift card, Chief Digital Product Officer Stuart Cook said.
By Anna Hrushka • Oct. 27, 2021 -
U.S. Bank's Elavon eyes BNPL arena
The payments processor will likely both build and buy its way into the buy-now-pay-later market, Elavon CEO Jamie Walker said in an interview last week.
By Lynne Marek • Oct. 26, 2021 -
Goldman Sachs, AmEx debut cloud-based payments service for corporate clients
The investment bank is partnering with the world's largest card issuer for businesses in an effort to make payments easier and more efficient for institutional clients.
By Robin Bradley • Oct. 20, 2021 -
Facebook's Novi launches digital currency wallet pilot
The announcement was met nearly immediately with pushback from five senators urging that the project be discontinued.
By Dan Ennis • Oct. 20, 2021 -
Stripe agrees to buy Indian software company Recko
The acquisition — the financial details of which are not disclosed — is expected to allow the fintech to give its business clients more accounting capabilities.
By Lynne Marek • Oct. 20, 2021 -
Cross-border payments competition heats up
Three bank-backed payments companies are attempting to increase the speed of cross-border payments, jumping into an arena teeming with fintech rivals.
By Lynne Marek • Oct. 14, 2021 -
British payments firm SumUp pushes into US with $317M deal
The company's purchase of San Francisco-based Fivestars will help it scale "dramatically" in a market dominated by the likes of Square and PayPal, a spokesperson said.
By Lynne Marek • Oct. 14, 2021 -
Fed won't go it alone on CBDC
The central bank will work with Congress and the Biden administration on any digital currency development, Chair Jerome Powell emphasized Wednesday.
By Lynne Marek • Sept. 23, 2021 -
Longtime Mastercard executive Banga to retire at year's end
Banga's upcoming exit was part of a "planned board leadership transition" initiated last February, the company said, though the timing of his retirement had not been previously announced.
By Lynne Marek • Sept. 21, 2021 -
Business failure helped Chime CFO build resilience
Having a business that didn't succeed past its venture stage gave Matt Newcomb a big-picture view that informs his strategic mindset at the fast-growing fintech.
By Robert Freedman • Sept. 15, 2021 -
How BankMobile pivoted its business model in the face of competition
"Our pillar of being able to have a profitable, sustainable model — and as fast as possible — wasn't happening," CEO Luvleen Sidhu said. "It's challenging when you have other challenger banks spending half a billion dollars on marketing."
By Anna Hrushka • Sept. 15, 2021 -
Capital One beta-tests BNPL option, marking turnabout
The McLean, Virginia-based bank barred customers last December from using its credit cards to clear buy-now-pay-later debt.
By Dan Ennis • Sept. 14, 2021 -
JPMorgan Chase to acquire company behind Zagat guidebook
Barred by regulators from buying another deposit-taking institution, the nation's largest bank looked to an adjacent arena to expand culinary perks for its credit-card holders.
By Robin Bradley • Sept. 10, 2021 -
JPMorgan to buy majority stake in Volkswagen's payments business
The deal is the latest in a series of investments the bank has made in the past year, following CEO Jamie Dimon's 2020 promise that it would be "much more aggressive with acquisitions across the board."
By Anna Hrushka • Sept. 8, 2021 -
Acquisitions heat up amid competition for small-business payments clients
Some companies are buying up businesses that will help them cater to small and midsize clients, while others are getting out of the arena.
By Lynne Marek • Sept. 2, 2021 -
Fed finds businesses eager for faster payments
About 90% of the 2,010 U.S. businesses in a survey published by the Federal Reserve expect to use faster payments in their operations by 2023, when FedNow is slated for launch. But many are ready for that upgrade now.
By Lynne Marek • Sept. 2, 2021 -
Robinhood developing early direct deposit access, app code shows
Similar features have gained traction at challenger banks and incumbents as an alternative to overdraft fees. The trading app is looking to broaden its revenue stream beyond trading.
By Dan Ennis • Sept. 2, 2021 -
Fintech veteran gears neobank toward musicians
Kasasa executive John Waupsh decided to launch Nerve after noticing musicians, struggling to access business accounts, often rely on personal checking accounts for business deposits and expenses.
By Anna Hrushka • Aug. 25, 2021 -
Fiserv strikes up a bevy of new partnerships
The payments processor has fresh ties to MovoCash, Selecta Group and Venmo that will allow it to keep expanding its digital payment services.
By Lynne Marek • Aug. 24, 2021 -
Wells Fargo reverses course on personal lines of credit
The lender's July decision to close existing lines generated outcry from customers whose credit could be hurt by the move. Borrowers who haven't used PLOCs in 12 months have until Dec. 2 to activate their lines.
By Dan Ennis • Aug. 19, 2021 -
How Square's Afterpay deal plays into its SMB, consumer banking goals
The $29 billion deal will bring the Australian firm's point-of-sale financing technology and large merchant portfolio under Square's umbrella, further enabling the fintech to continue its push into banking services.
By Anna Hrushka • Aug. 18, 2021 -
Wells Fargo combines treasury management, payment units
The bank is also hiring a BNY Mellon executive to oversee the combined business.
By Dan Ennis • Aug. 18, 2021 -
Column
Walmart, NYCB show 2 ways to angle for blockchain expertise
The retailer posted a job description for a crypto product lead, while New York Community Bank partnered with fintech Figure.
By Dan Ennis • Aug. 17, 2021