Tag: Banking

May 26, 2023

The research results gave the Fed an opportunity to plug the arrival of its new FedNow faster payments system, which is expected to launch services publicly in July. That real-time payments system from the central bank has been in development […]

May 25, 2023

Attendees at Nacha’s Smarter Faster Payments conference last month were coasting through a late morning panel discussion on fraud just before lunch when one panelist’s comments stirred up the ballroom. Consolidated Edison Director Frank D’Amadeo, who leads treasury operations at […]

May 23, 2023

Fintech companies are using chatbots and virtual assistants to provide personalized and interactive financial guidance to customers, helping them make better financial decisions and improve their financial literacy. These AI-powered platforms, merging technology with the human touch, are increasingly becoming […]

May 16, 2023

PayPal has planned for months to name a new CEO to replace Dan Schulman before yearend. Now, the digital payments pioneer is coming under pressure to speed up the transition. “Some investors are getting frustrated with what they believe is […]

May 12, 2023

Paysend joins a crowded field of cross-border payments competitors that are increasingly tapping new payment rails for faster cross-border services. Offering remittances services for migrants sending payments to family and friends in other countries is where most of the rivals […]

May 3, 2023

Partners at AH Capital Management, the big-name venture capital firm better known as Andreessen Horowitz, see an opportunity for entrepreneurs to design payment systems in what they call “high-risk” niches, such as gaming, sports betting and cannabis. Those areas, where […]

February 27, 2023

While Passbook was gaining traction with customers, the product was outside the fintech’s core customer segment, Oppenheimer told analysts last week. “We believe it makes sense to redeploy our resources to higher returning investments, targeted at our core remittance customer,” […]

February 23, 2023

Nacha, which governs the automated payments system, attributed the drop in direct deposits to the conclusion of federal COVID-19 pandemic relief and fewer unemployment benefit payments. Looking ahead, the organization said it is focused on encouraging the dental industry to […]

February 9, 2023

The embattled CEO of PayPal, Dan Schulman, plans to retire at the end of the year, after the digital payments pioneer has struggled in recent years to meet growth goals and beat back mounting competition. Schulman said he spoke multiple […]

January 31, 2023

The PayPal job cuts follow a $2-billion investment in the company last year by Elliott Investment Management, an activist investor that often pushes companies to increase profitability in the interest of boosting stock prices. The value of PayPal’s shares have […]

January 13, 2023

PayPal’s Xoom has offered money transfer services domestically since 2020 and expanded its cross-border capabilities last year. Now, it’s speeding up the delivery of the payments with an assist from Visa’s real-time system called Visa Direct. Xoom’s debit card deposit […]

January 12, 2023

Card giant American Express said it has agreed to purchase Nipendo, an Israeli business-to-business payments automation company, but didn’t say how much it will pay for the acquisition. Nipendo, headquartered in Netanya, Israel, “will make B2B payments processes much easier […]

November 29, 2022

The slower growth at San Francisco, Calif.-based Visa comes as the U.S. braces for a possible recession, with consumers tightening their budgets in the face of inflation and companies cutting back on jobs and expenditures. Still, higher prices work in […]

November 28, 2022

PayPal is counting on its digital app to boost business as it focuses more on customer engagement and less on adding new customer accounts. To that end, one new service the company is testing is a teen account for users […]

November 21, 2022

Visa President Ryan McInerney will not be short on growth goals when he takes over as CEO of the global card network giant Visa next year. When McInerney spoke at a recent bank conference he uttered the word “opportunity” more […]

November 18, 2022

Mobile banking apps revolutionised how we bank today. Some 62% of consumers now conduct most of their regular banking activities on apps. But though users admit there are plenty of benefits to using banking apps, the majority remain concerned about […]

November 18, 2022

Visa CEO Al Kelly will step aside and the card network company will promote President Ryan McInerney to the chief executive role next February, the company said in a press release Thursday. Kelly will stay on at the company as […]

October 31, 2022

The P2P tool addition is part of Jack Henry’s bid to keep expanding its technological capabilities and tools for its community and regional bank clients. The company introduced this tool to enable banks and credit unions to provide a safe […]

October 28, 2022

Mastercard reported an increase in third-quarter earnings as the second-largest card network company benefited from its investments in the payments sector. During the company’s earnings conference call Thursday, Chief Executive Michael Miebach noted the company’s “focused execution” of Mastercard’s strategy […]

October 20, 2022

Republican ire is spooling up over what digital payments company PayPal called an error in the post of a user policy that threatened to debit users’ accounts if they shared ”misinformation.” A group of Republicans, including two ranking committee members, […]