News Topic: payments

Bank’s net income plunges, will focus on Europe growth; FTC says the company charged hidden fees. ... Read full article

The bank faces June 15 AML compliance deadline; the features that make Zelle popular with customers entice thieves. ... Read full article

The central bank is taking a lead role in trying to combat the longstanding problem. A broad study by the Fed aims to measure the extent of payments fraud and to foster more collaboration in thwarting it. ... 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

The agency would be subject to congressional and White House oversight; American customers will be able to send money to 200 countries. ... Read full article

The announcement comes after a Federal Reserve Board task force issued a report in September that said it would further examine options for modernizing the U.S. payments system. ... Read full article

Banks need to figure out how to provide more value to customers or nonbank financial services companies could displace them. ... Read full article

The e-commerce giant is muscling its way into a number of businesses that banks have long dominated. ... Read full article

Many community bankers fear the fast-growing P-to-P network will increase costs without adding revenue. ... Read full article

The U.S. Supreme Court refuses to hear an appeal by hedge funds; South Korea’s leading cybercurrency regulator dies of heart attack. ... Read full article

The Financial Conduct Authority is seeking input on whether it should expand its fintech testing ground to include startups and regulators from around the world. ... Read full article

The move comes at a time when banks are becoming more aggressive in acquiring or investing in financial technology companies. ... Read full article

The San Francisco startup behind the cryptocurrency XRP claims it can send money around the world faster, cheaper and with greater transparency. ... Read full article

The central bank is beginning to consider the possibility of a “digital dollar,” which will foster more efficient and transparent payments. ... Read full article

The payments company will pay $321 million for Crestmark Bank, a commercial lender that focuses on asset-based lending, equipment finance and government-guaranteed loans. ... Read full article

After 10 years of development, nobody has come up with a use for blockchain that has been widely adopted. ... Read full article

TD Bank's new lab seeks to divine the future of banking. ... Read full article

Both in dollar and transaction volume, credit card use is growing at a faster pace than debit use. Much of the growth is coming from affluent consumers who value rewards like 2% cash back on purchases. ... Read full article