Online payments

Lawsuit alleges PNC built payments product with stolen trade secrets


A Denver company says that the $410 billion-asset bank used its confidential information to create a copycat product and poach its customers. PNC is contesting the allegations.


Visa's $5 billion Plaid deal takes a possible rival off the table


In the battle to control consumer data, Visa has made a major score by agreeing to acquire Plaid, a technology company that it could have seen grow into a competitor.


When open banking and data privacy collide


Banks are increasingly sharing data and must brace for new regulations protecting that data.


How Square turns unconventional credit data into loans for tiny businesses


The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction.


15 community banks join The Clearing House’s real-time payments network


Many small banks remain skeptical of the payments network because it is owned and operated by big banks and they are waiting for the Federal Reserve to launch a rival service.


Wells striking out in search for new CEO; Big banks lower Q2 forecasts


Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results.


App from Simple co-founder builds bridges from banks to blockchains


Shamir Karkal’s startup, Sila, is launching an API platform that gives developers a way to connect traditional bank systems to distributed ledgers like Ethereum.


Peace offering made to small financial institutions on fast payments


The Clearing House announced moves to attract community banks and credit unions to its real-time payments system. Smaller depositories have generally been reluctant to sign up with what is seen as a large-bank effort.


How much does P2P drive engagement for banks?


The market for P2P payments is finally taking off after years of false starts, but there are still many unanswered questions. The biggest one: How do banks get value out of offering this service free of charge?


What the FIS-Worldpay deal means for banks


The companies could bring something new, such as merchant acquiring to community banks, but their merger could also cause anxiety about giant vendors.