Mobile wallets

Banks can hold stablecoin-related assets for customers, OCC says


The agency issued an interpretive letter on stablecoins two months after permitting institutions to provide wallet services for cryptocurrency holdings.


How EventBot malware exploits shift to mobile payments during coronavirus crisis


Criminals developing EventBot malware built it to take advantage of businesses and humans turning to mobile banking and payments in the current coronavirus crisis — but also to update itself on the fly to become more insidious in the future.


Why Congress considered a digital dollar in its coronavirus response


The coronavirus stimulus package has resurrected calls for the U.S. government to offer a central bank digital currency, public mobile wallets and postal banking—controversial ideas that are hard to pull off, but exist outside the U.S. and could dent interchange fees and private stablecoin projects like Facebook’s Libra.


Wells Fargo aims for top of digital wallet with $5 bonus


Wells Fargo hopes to anchor its debit card at the top of customers’ digital wallets with a promotion offering users a $5 credit.


It's time to go all-in on open banking


Still trying to figure out whether to build gateways to your bank's data and systems? Here’s why you should transition.


Why PayPal is suing the CFPB over its prepaid card rules


PayPal — which is rarely thought of as a prepaid card company — has filed a lawsuit against the CFPB over its rules on prepaid accounts, underscoring the rapid changes in digital financial services and PayPal’s own expanding financial services ambitions in recent years.


Mobile banking apps need to go beyond the basics


New tech like APIs and artificial intelligence will help consumers manage all their finances through an app, rather than just transfer funds.


Google-Citi deal will face scrutiny; auto lending rises to near record level


The tech giant’s plan to offer checking raises concerns about how it will use customer data; third quarter loan originations were the second most on record.


Google-Citi partnership stirs privacy concerns


Questions about the search giant's planned use of transactional data resonate not only with wary consumers, but also with banks that are worried about big tech’s financial services ambitions, as well as lawmakers and regulators concerned about the tech industry’s growing reach.


Is Big Tech’s ‘for the people’ rhetoric legit?


Large tech companies have been driving home the message that they can help the many Americans who struggle financially. But there are good reasons to be skeptical of their intentions.