Digital payments

Why is it so hard for a fintech to become a bank?

11/18/20

The success of some fintechs in getting bank charters this year only underscores how onerous the process remains for many others. That’s unlikely to change unless policymakers reconsider what it means to be a bank.

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Visa pilots card-not-present security app with MSUFCU

11/17/20

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

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A Fed digital currency looks inevitable. So do the problems.

11/04/20

A Federal Reserve-issued digital dollar could speed up payments, expand financial access and reduce financial crime. But it also brings trade-offs that policymakers are only just beginning to consider.

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An attempt to make point-of-sale payment devices obsolete

10/19/20

MagicCube’s i-Accept is a hardware-free option for accepting card and electronic payments that could appeal to cost-conscious small businesses and open up a new market for banks that provide them payments services.

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Merchants brace for 'friendly fraud' surge as holiday shopping moves online

10/19/20

Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.

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Powell says Fed's digital currency should complement payments system

10/19/20

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

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Banking groups urge Congress to block OCC payments charter

09/29/20

Various trade organizations sent letters to a House Financial Services Committee task force saying lawmakers should "actively discharge their oversight prerogatives" as the national bank regulator considers giving licenses to companies that do not accept deposits.

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The partners that can help Fed speed launch of real-time payments

09/23/20

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.

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State oversight of payments giants ‘a vestige of history,' Brooks says

09/08/20

In a sharp escalation of the battle over the future of the dual banking system, the acting chief of the Office of the Comptroller of the Currency suggested that states should defer to federal authority in supervising global money transmitters.

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CO-OP, Zelle partnership could bring P2P payments to small credit unions

09/01/20

CO-OP, a credit union payments firm, has teamed with the fintech to expand usage of digital payments offerings. But it's unclear to what extent members want those services.

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