Fed paper this summer aims to spur 'broad conversation' on CBDC

"Our key focus is on whether and how a [central bank digital currency] could improve on an already safe, effective, dynamic and efficient U.S. domestic payments system," Chair Jerome Powell said Thursday in a video statement.

By Lynne Marek • May 21, 2021

The Clearing House nudges businesses to adopt real-time system

To persuade businesses of the network's billing promise, the CEOs of 23 big banks that own The Clearing House issued a letter underscoring their commitment to the project.

By Lynne Marek • May 17, 2021

Explore the 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

Neobank Lili raises $55M as customer base expands

Since its prior funding round in November, Lili's customer base has doubled to more than 200,000 active accounts.

By Vaidik Trivedi • May 11, 2021

'We cannot stay still': Inside Green Dot's path to BaaS growth

The Pasadena, California-based company has made a name for itself as a financial services enabler for some of the nation's biggest brands. But competition in the space could create new headwinds.

By Suman Bhattacharyya • May 10, 2021

Square's Bitcoin revenue soars, eyes lending, Tidal app engagement

After exceeding earnings estimates, Square looks to drive user engagement and individual lending through its CashApp.

By Vaidik Trivedi • May 7, 2021

Traditional banks mirror challengers with new digital offerings

"There's a story behind every one of these kinds of overdrafts," said Jimmy Stead, chief consumer banking officer at Frost Bank, which launched an overdraft grace feature last month.

By Anna Hrushka • May 7, 2021

FIS links with NYDIG to offer Bitcoin services

The rise in Bitcoin's value over the past year has spurred a host of companies to rethink their initial skepticism of cryptocurrencies.

By Lynne Marek • May 5, 2021

Cryptocurrency startup Ripple hires new CFO amid SEC lawsuit

Kristina Campbell spent five years as CFO of billing and payments firm PayNearMe and, previously, served in various operations and management roles at fintech Green Dot.

By Jane Thier • May 5, 2021

Retail organizations sue Fed over debit law enforcement

Two North Dakota retail associations allege in a new federal lawsuit the Fed hasn't properly fulfilled its duty to determine "reasonable" debit card processing fees under a 2010 law.

By Lynne Marek • April 29, 2021

Neobank Current adds crypto to product roadmap after $220M funding boost

"There is a need and a demand for a company like Current to explain and shepherd people into this new world," CEO Stuart Sopp said.

By Anna Hrushka • April 28, 2021

Barclays US to offer merchants buy-now-pay-later feature

"We plan to use this to supercharge our growth and give our partners and our customers more options to buy stuff with," said Barclays US CEO Denny Nealon.

By Anna Hrushka • April 27, 2021

Visa, Mastercard face biggest challenges in a decade

Regulatory, legislative and court confrontations over the card networks' fees are ratcheting up pressure again for reform of the behemoths' practices.

By Lynne Marek • April 22, 2021

Walmart's trademark filing may offer clues to fintech startup

The litany of services "Hazel by Walmart" intends to provide ranges from credit and debit card payment processing services to financial portfolio analysis, credit repair and restoration and virtual currency transaction processing.

By Dan Ennis • April 8, 2021

Chance for early feedback spurs banks to join FedNow pilot program

More than 110 organizations are participating in the real-time payment effort, which is still slated for a 2023 debut.

By Anna Hrushka • April 6, 2021

COVID-19 pushed real-time payments to jump 41% in 2020, study finds

Real-time payments accounted for 9.8% of all electronic transactions in 2020, the report found. That figure is expected to reach 17.4% by 2025.

By Vaidik Trivedi • April 1, 2021

Illinois moves to create special charter for digital assets trust

"I had to get out of the bubble of the way I look at money in our country," said the bill's sponsor, state Rep. Margaret Croke, D-Chicago.

By Lynne Marek • March 26, 2021

Powell reiterates 'no-rush' stance on Fed's digital dollar

Powell insists on Congress's approval before proceeding with a CBDC, but researchers are hoping to unveil prototypes as early as July. Meanwhile, the Senate's new banking panel chair is calling for faster action.

By Dan Ennis • March 23, 2021

Visa's debit card business comes under DOJ scrutiny

Visa said in an SEC filing that it hasn't received a civil investigative demand from the agency but that the Justice Department sent a notice telling the company "to preserve relevant documents related to the investigation."

By Lynne Marek • Updated March 19, 2021

Early prep for stimulus payments pays off for digital banks, customers

"Digital banks are nimbly making strides, and incumbents are fully captivated," said Lane Martin, a partner at the consulting firm Capco.

By Anna Hrushka • March 16, 2021

Mastercard, Visa to postpone some fee increases next month

Bowing to pressure from the White House and congressional Democrats, the card networks won't increase expenses for merchants and consumers who are still coping with the pandemic.

By Lynne Marek • March 16, 2021

Wells Fargo, JPMorgan draw ire over stimulus payment release date

The banks are sticking with a March 17 disbursement date, even though the IRS has released at least some of the payments Friday. Fintechs Current and Chime are trumpeting their success at getting the money in users' hands.

By Dan Ennis • March 15, 2021

Stripe's new $95B valuation makes it Silicon Valley's most valuable startup

The payments processing company's new valuation is based on raising $600 million in new capital that it plans to use for further expansion in Europe.

By Lynne Marek • March 15, 2021

JPMorgan to pull Chase Pay from merchant apps, sites March 31

The bank announced in 2019 it would shut down the platform's stand-alone app. Merchant acceptance — about 1% in 2019 — has paled in comparison to competitor Apple Pay's 40%.

By Robert Freedman • March 10, 2021

Plaid payroll product streamlines income verification

Plaid Income is the second product the company has launched since the termination of a proposed $5.3 billion tie-up with Visa, signaling the scrapped deal is not slowing the expansion of the fintech's suite.

By Anna Hrushka • March 8, 2021

Square becomes more reflective of Jack Dorsey the person with Tidal buy

The CEO's investment in the music streaming service may not be an obvious fit in payments, but jibes with Dorsey's decentralization philosophy as he becomes more famous than his (other) company.

By Dan Ennis • March 5, 2021