Fed banks analyze consumer use of card promos

New research from the Philadelphia and Boston Feds finds that consumers are cycling through low APR credit card offers.

New Nacha rules strike at push-payment fraud

“With respect to transaction monitoring for fraud, it would no longer be acceptable to do nothing,” Nacha Executive Vice President Michael Herd said.

Clearing House’s ACH growth rate outstrips Fed

Automated payments volume processed by The Clearing House grew at a faster rate than at the Federal Reserve last year.

Mastercard extends tie to Alipay

The card giant said the expanded partnership will let the Chinese digital wallet company’s 1 billion users send payments to 180 markets.

Ballooning credit card balances loom over retail sales

The level of debt may surpass the all-time record this year, even when adjusted for inflation, some analysts say.

Nuvei forms committee to evaluate ‘strategic alternatives’

The Canadian payments company confirmed it’s in talks about a potential transaction with a third party, noting the committee will explore possibilities.

Afterpay extends reach beyond apparel

The Block-owned buy now, pay later provider said its expansion is a response to younger consumers looking for new tools to manage inflation.

Marqeta CFO touts EWA expansion

The card-issuing fintech has seen adoption of its debit card-linked EWA product increase as hourly workers at Walmart and Uber have been added, CFO Mike Milotich said.

FreedomPay doubles down on gateway focus

The company, which provides point-of-sale payments and other technology services to merchants, isn’t interested in handling acquiring, said President Chris Kronenthal. 

Fiserv searches for ‘tuck-in type’ deals

Despite a focus on smaller acquisition options, the processor doesn’t feel confined to a particular price range, CFO Bob Hau suggested Thursday.

CFPB warns of ‘dangers’ on standards for open banking

“We know dangers exist when more powerful players weaponize industry standards,” Consumer Financial Protection Bureau Director Rohit Chopra said in advance of finalizing an open banking rule later this year.

Fintech founder backs Google, Apple

“It’s easy for giant app companies to pick fights with Apple and Google, but when billionaire companies fight about who gets richer, it’s usually the little guy that loses,” writes CashEx’s CEO.

Banking apps fall short on fraud protections: report

Consumer Reports Senior Director Delicia Hand said preventing fraud and scams is "crucial" for traditional and digital banks alike, as more of their customers use their mobile apps.

ACI CEO weighs in on FedNow, cross-border payments

The federal real-time payments system may spool up slowly, but it could ultimately transform U.S. cross-border payments, ACI Worldwide's CEO predicted.

Visa teams with SAP’s Taulia on embedded payments

The card network giant wants to simplify payment processes for chief financial officers, accounts payable staff and procurement professionals, via the new tie.

Stripe reports payments volume increase

The digital payments company processed $1 trillion in total payments volume last year, according to its annual letter released Wednesday.

Klarna’s IPO prospects grab spotlight

The BNPL provider’s CEO has suggested the company could IPO “quite soon,” but fintech investors expect the market will first want to see a stronger track record of profitability.

PayPal, Mastercard add C-suite hires

Payments firms are loading up on new C-suite hires this year as some in the industry build out new management teams.

FDIC pushes regulators to address tokenization

Tokenization could be a "major leap" for the monetary system. FDIC Vice Chairman Travis Hill doesn't want the U.S. to be left out.

PayPal may axe straggler business units

On the fringes of the digital payment pioneer’s two main businesses are some in a third category that could be jettisoned this year, CEO Alex Chriss said last week.

Affirm CFO swears off auto lending, for now

The buy now, pay later company seeks to be involved in more consumer spending opportunities, but finance chief Michael Linford all but ruled out auto lending.

Hertz taps Stripe for digital payments

The digital payments company will power website and app-based reservations for the car rental business, along with providing a point-of-sale system.