Payment processing

Maintaining Thrust While Your Industry Crashes


The travel industry was hit extremely hard by the coronavirus pandemic. WEX, a payments processing and financial technology solutions organization with offerings for corporate travelers, felt the shockwave first hand.


Better data is key to beating bias in small-business lending


The increased use of technology, along with holistic data points, can eradicate racial and gender disparity for fintech lenders in small business, says Become’s Eden Amirav.


Contactless payments will miss the boat without 'in time' funding


Digital wallets arguably reached a tipping point this spring when contactless payments jumped 40% in response to concerns that cash and payment terminals were helping to spread the coronavirus, Vidya Peters of Marqeta writes.


PPP recipients seek forgiveness help; processors delay paying out funds


Borrowers say getting the loans forgiven is just as complicated as obtaining the money; payment companies are holding some merchant funds in reserve as chargebacks spike.


Mom-and-pop shops left holding bag in consumer card disputes


Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits.


Not all payments can be processed at home: How one JPMorgan team managed


The lines of white cooling trailers that silently announce the scale of the tragedy are what lockbox employees at JPMorgan Chase see on their way to work.


The American payment system was ready for the coronavirus pandemic


The modern-day payment system was, over the last two decades, tailor-made for the shelter-in-place conditions many now live and work under today.


Dimon ‘open-minded’ on deals; CFPB would permit ‘zombie’ debt collection


JPMorgan would consider buying other businesses; collectors would be allowed to pursue debt past the statute of limitations, if they warn borrowers.


Santander acquiring Elavon’s Mexican operation


Banco Santander’s global digital transformation has led it to Mexico, where the bank has agreed to acquire U.S. Bancorp’s Elavon Mexico merchant acquiring unit for about $84 million.


Visa planning biggest changes to swipe fees in a decade


Higher rates are looming for transactions on e-commerce sites, while merchants in certain services categories, such as real estate and education, will see fees decline, according to a document Visa sent to banks.