Tag: Banking

November 14, 2023

Earned access wage provider DailyPay experienced a service snafu Friday related to the Veterans Day holiday that deprived some of its users of access to their funds. Some workers who signed up for DailyPay access to their employer payments took […]

November 7, 2023

In a consumer and small business report issued last month, Mastercard zeroed in on cross-border payment headaches affecting consumers in the U.S. and other international markets as they transact between countries. The company’s survey research showed that consumers are grappling […]

November 3, 2023

Specifically, the company disclosed this regarding the SEC demand: “On November 1, 2023, we received a subpoena from the U.S. SEC Division of Enforcement relating to PayPal USD stablecoin.” The San Jose, California-based company, which caters to consumer and merchant […]

November 2, 2023

PayPal’s new CEO, Alex Chriss, spelled out his priorities for making the digital payments company into a more profitable growth enterprise during a call with analysts on Wednesday, just weeks after taking the top post. Chriss said he’s walking in […]

October 20, 2023

The Consumer Financial Protection Bureau on Thursday unveiled its long-awaited open banking proposal, a rule it says will give consumers greater control over their financial data by requiring banks to share such data with third parties like fintechs. The rule […]

October 18, 2023

For the first time in four quarters, the payments category didn’t lead the fintech pack when it came to money raised by startups during the third quarter. Globally, digital lending garnered the most venture funding in Q3, at $1.7 billion. […]

September 26, 2023

The Federal Reserve’s launch of FedNow has garnered significant attention over the past several months. Touted as the U.S. version of a European-style network of real-time payments, the service was met with high expectations. In fact, many still hope that […]

July 14, 2023

Apple has been steadily expanding its financial offerings in 2023. In March, it debuted a buy now, pay later service called Apple Pay Later. Then a month later, it added a high-yield savings account backed by investment bank Goldman Sachs. […]

June 29, 2023

The acquisition demonstrates Visa’s interest in global expansion under the new leadership of CEO Ryan McInerney, who was installed earlier this year after his time as president exploring the card giant’s worldwide operations. “Through the acquisition of Pismo, Visa can […]

June 8, 2023

In the rivalry between the two biggest U.S. card companies, Mastercard is betting on the rise of the open banking trend while Visa is less persuaded it will take off. The companies’ diverging views of the trend, which envisions consumers […]

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 […]