Small banks deemed ill-prepared for coming payments revolution


Though they face an array of competitive threats — from digital currencies to peer-to-peer payment apps — the vast majority of community banks do not have a payments strategy, according to a recent survey.


What the Amazon-Whole Foods deal means for banking


The $13.7 billion acquisition could have significant implications for swipe-fee revenue and other grocers' in-store branches. It also raises the question of whether the Seattle e-commerce Goliath will soon set its sights on the financial services industry.


Financial firms should fear, but also admire, Amazon’s rewards program


Amazon’s new Prime rewards program is the latest way the tech titan is cultivating a loyal use base. To retain and engage customers, banks should follow Amazon’s lead and layer in more value-added services.


Better isn’t good enough in improving global payments system


Payments professionals have done too little to leverage transformational changes in technology to improve the overall client experience.


Chase outage knocks out payments service for customers nationwide


The glitch primarily affects payment services, including bill pay and QuickPay, the company’s peer-to-peer service.


Ripple vs. Swift rivalry heats up; banking may be ultimate winner


The global messaging network Swift and its fintech challenger, Ripple, have been vying for bankers’ hearts and minds for more than a year. Whoever prevails, their latest moves could bring needed change to how international banking is done.


First Data joins SVB's fintech accelerator


First Data is teaming up with the bank to deepen the pool of knowledge and connections from which startups in the program can benefit.


The anti-Venmo? Banks' p-to-p payment product eschews social ‘sharing’


When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.


Bancorp, continuing cost cuts, to sell European payments line


The Delaware company is also close to completing a compliance program to address anti-money-laundering and Bank Secrecy Act issues.


Have the big banks finally cracked the code on P-to-P payments?


The upcoming launch of Zelle gives Chase, B of A, Wells Fargo and other large banks an opportunity to correct their past mistakes.