News Topic: Payment processing

Reversing a previous order, the Texas judge granted part of the bureau's request to stay the effective date and allow time for the agency to work on changes to the rule. ... Read full article

Payday lenders scored a victory when the bureau committed to proposing changes next year, but they expressed disappointment that the revamp will not address a key payment-processing provision. ... Read full article

Customer furor stemmed from troubles FIS had processing payments for MetaBank, the issuer of Netspend and other prepaid debit cards. ... Read full article

A $245 million funding round for the payments processor Stripe contributed to heavy venture capital investment in the third quarter. ... Read full article

California will be the first state requiring public companies to meet gender quotas for their boards of directors, and women in the payments industry see the move as positive — with some caveats. ... Read full article

Citi and other banks are investing in automation aimed at speeding up the old-fashioned process for institutional clients' receivables and payables. ... Read full article

A cash management offering by Mastercard and Strand is the latest example of new answers to commercial clients' demands for better digital services. ... Read full article

The simplified pricing of fintechs like Square and Stripe has finally caught up with banks' more complex fees, prompting Wells Fargo to restructure its billing for small businesses. Other banks will also face consequences—particularly community banks ... Read full article

Banks are making business customers happy with new digital billing services as machine learning meets the lockbox. ... Read full article

Heartland Payment Systems LLC sued its former top executive, Robert Carr, claiming he used his girlfriend to trade on inside information. ... Read full article

First International Bank plans to rename the company Kotapay, while expanding services that include handling direct deposit and credit card processing for financial firms. ... Read full article

As with most of the company's inventions, an Amazon checking account would more deeply embed customers into an Amazon ecosystem that provides an endless flow of data and efficiencies. ... Read full article

As financial services companies cool on gun sales, alternative currencies may step in to pick up the slack. ... Read full article

Momentum is continuing unabated for blockchain projects and initial coin offerings (ICOs) as the potential for blockchain continues to be realized. ... Read full article

The New York Times' Andrew Ross Sorkin wants banks and credit card companies to effectively ban assault gun sales if Congress won't. It's a dangerous idea. Here's why. ... Read full article

Banks will have to show they can withstand “severely adverse” conditions; the office will be under the direct control of acting director Mick Mulvaney. ... Read full article

Appeals court says single director is constitutional; the CFTC is rethinking policies because of bitcoin. ... Read full article

JPMorgan Chase and Amazon have demonstrated substantial power to digitize their industries, even influencing the strategy of others. But automating and streamlining health care will be a particularly tough task. ... Read full article