Payments: Page 5
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Michael Nagle / Stringer via Getty Images
Top JPMorgan payments executive exits
Takis Georgakopoulos, a 17-year veteran at the bank, will be replaced by Umar Farooq and Max Neukirchen, who were promoted to co-head roles.
By Lynne Marek • June 4, 2024 -
Leon Neal / Staff via Getty Images
Former FTX exec Ryan Salame sentenced to 7½ years
He originally faced up to 10 years in prison, following guilty pleas to two counts in September. Prosecutors, however, suggested he serve five to seven years.
By Gabrielle Saulsbery • May 28, 2024 -
Explore the Trendline➔
Morris MacMatzen / Stringer via Getty Images
TrendlineData-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 -
Justin Sullivan / Staff via Getty Images
Visa preps for US pay-by-bank services
The card network is focused on “stubborn categories” where large account-to-account payments have taken hold, such as in healthcare, education and rent, a Visa executive said.
By Lynne Marek • May 28, 2024 -
Photo illustration: Shaun Lucas/Industry Dive; Getty Images; Paze
Paze targets nationwide coverage by year-end shopping season
The big bank-backed digital wallet is now accepted by about 80,000 “primarily small” merchants, according to James Anderson, managing director at Early Warning Services.
By James Pothen • May 28, 2024 -
Joe Raedle / Staff via Getty Images
Walmart and Capital One break up
The retail behemoth and its credit card issuer said in a terse, joint press release Friday that they’re parting ways.
By Lynne Marek • May 24, 2024 -
Permission granted by Block
Sorry, Cash App. Gen Z still wants bank branches.
Young consumers are open to using the peer-to-peer payments app as their primary bank, but many say they won’t switch because they value having a physical branch.
By James Pothen • May 21, 2024 -
Shutterstock.com/ Pixels Hunter
Sponsored by Form3Real-time payments revolution: Platform approach ushers in faster transactions
A platform-based approach helps banks commercialize value-added services and develop a more client centric model.
May 20, 2024 -
Joe Raedle / Staff via Getty Images
Fed, OCC to hold meeting July 19 on Capital One-Discover deal
At $35.3 billion, the acquisition is well above the size that typically sees a public hearing by regulators. Agencies are eyeing tougher merger scrutiny, but that idea has received partisan backlash.
By Lynne Marek • May 15, 2024 -
Lynne Marek/Banking Dive
Fed, TCH joust over interoperability
When it comes to bridging the FedNow and RTP networks, officials at the Federal Reserve and The Clearing House have slightly different priorities.
By Lynne Marek • May 7, 2024 -
Justin Sullivan / Staff via Getty Images
Wells Fargo says US authorities probing Zelle disputes
JPMorgan also said it was responding to civil and government authorities’ inquiries regarding handling Zelle customer disputes. The banks did not divulge further details.
By Rajashree Chakravarty • May 3, 2024 -
Permission granted by Stripe
Stripe unbundles services as industry shifts
The company’s move to decouple embedded financial services from payment processing means it’s ready to pursue larger customers, analysts said.
By James Pothen • May 1, 2024 -
CFO Editorial Staff
FedNow pricing aimed at avoiding market disruption
The Federal Reserve sought to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a central bank official said Wednesday.
By James Pothen , Lynne Marek • April 29, 2024 -
Win McNamee via Getty Images
DOJ examines Capital One-Discover deal’s competitive angle
The Fed and the OCC extended their comment periods on the proposed acquisition until May 31. Capital One doesn’t “take any signaling” from the regulators’ decision, CEO Richard Fairbank said.
By Caitlin Mullen • April 26, 2024 -
Jens_Lambert_Photography via Getty Images
Fed seeks 8,000 financial institutions for FedNow
About 700 financial institutions have connected to the Fed’s instant payment network since last July, with at least 1,000 more in the pipeline, a FedNow official said this week.
By Lynne Marek , James Pothen • April 26, 2024 -
Permission granted by Anchorage Digital
Q&AAnchorage Digital CEO says custody, staking services poised for growth
Anchorage Digital's newly hired COO Aaron Schnarch will be key in scaling up to meet the increasing institutional demand for safe digital asset infrastructure, CEO Nathan McCauley said.
By Gabrielle Saulsbery • April 24, 2024 -
US seeks 3 years in prison for Changpeng Zhao, $5.3B fine for Do Kwon
The federal government is tying up loose ends to address high-profile crypto crimes of yesteryear.
By Gabrielle Saulsbery • April 24, 2024 -
Permission granted by First Internet Bank
First Internet Bank CEO talks M&A, BaaS work
After its acquisition of First Century Bank fell through in 2022, First Internet built its own banking-as-a-service team, CEO David Becker said. It now counts startup Ramp as a client.
By Caitlin Mullen • April 24, 2024 -
Scott Olson via Getty Images
Fintech One offers BNPL at Walmart stores: report
The move presents competition for BNPL provider Affirm, which has partnered with the retail giant since 2019.
By Caitlin Mullen • April 23, 2024 -
Lynne Marek/Banking Dive
Fed courts nonbanks for FedNow growth
Nonbanks "help us understand what is needed, what customers are demanding [and] not seeing, what's on the horizon that we should be thinking about," a Chicago Fed specialist said this month.
By Lynne Marek • April 23, 2024 -
Win McNamee / Staff via Getty Images
For Capital One and Discover, the 4th time may have been the charm
Discover rebuffed three Capital One pitches before agreeing to a deal, and talks halted for seven weeks, an SEC filing indicates.
By Dan Ennis • April 22, 2024 -
Truist CIO, chief audit officer leave bank
The bank, meanwhile, has added new leaders in its payments business and logged $70 million in restructuring charges in the first quarter, CEO Bill Rogers said Monday.
By Caitlin Mullen • April 22, 2024 -
Michael M. Santiago via Getty Images
Pathward to pay refunds, penalty tied to NY AG investigation
The bank, a frequent partner to fintechs, froze customer accounts and transferred money to debt collectors, violating state law, the NY AG’s office said.
By Caitlin Mullen • April 17, 2024 -
LD via Getty Images
Fed keeps up CBDC research
Despite political opposition to a potential U.S. central bank digital currency, research staff at the central bank continue to study the possibility.
By Lynne Marek • April 17, 2024 -
E4C via Getty Images
US, Europe lock arms on payments regulation
U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.
By Lynne Marek • April 15, 2024 -
hapabapa via Getty Images
Citi’s reorg job toll climbs to 7,000: Fraser
The bank boosted its expectation for annual savings to $1.5 billion. Meanwhile, Citi, Wells Fargo and JPMorgan Chase reported marked increases in FDIC special assessment costs.
By Caitlin Mullen • April 12, 2024
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