Paytechs emerged mostly unscathed from the SVB fallout
Visa, Mastercard, and several paytechs said their businesses were mostly uninterrupted despite ties with the now-collapsed bank.
Yellen and the Fed check in after the banking sector's rough week
Secretary Yellen emphasized its stability and endorsed the rescue efforts. The Fed gave a picture of emergency lending.
The Evolving Payments Purchasing Chain: How Digitization and Economic Pressures Are Changing the Ecosystem
Amid economic uncertainty, payments providers are making meaningful shifts to digitize and innovate.
Powering the Point-of-Sale: How Providers Are Building Cost-Effective Omnichannel Solutions
We forecast that the US point-of-sale (POS) terminal installed base will grow from 17.3 million this year to 20.2 million in 2026.
Payment Channels and Types of Transactions: Digitization, Integration, and the Economy
Ongoing ecommerce growth is pushing payment providers to make efficient and inexpensive digital payment solutions their top priority.
Credit Suisse faces crisis of confidence as banking tumult spreads to Europe
Fears of a global banking crisis aren't going away as Credit Suisse shares nosedived amid investors' shaky confidence in its financial position.
Mastercard helps Checkout.com facilitate faster payments in Asia-Pacific
It will use Mastercard Send so customers in Australia and Hong Kong can send payments to more than 1.5 billion Mastercard cards.
The State of Payment Methods: More Choice and Economic Changes Are Affecting How Consumers Spend
Although debit still reigns supreme, with consumer preferences moving toward digital, cash and checks will continue to be displaced in the US.
Silicon Valley Bank collapse puts lenders on edge and startups at risk
The tech sector that propelled Silicon Valley Bank's growth suddenly lost confidence in its viability. Are other tech-focused banks also in danger?
MoneyGram taps budding fintech to grow its presence in Jamaica
MoneyGram is working with homegrown wallet Lynk so customers can receive remittances, which will aid its digital push.
Investment banking profit squeeze forces Citi to think beyond job cuts
Banks are under pressure to slash costs amid weak dealmaking. Citi is cutting jobs but also spending big in a strategy shift.
BMO and Bill team up to streamline AR/AP for SMB
BMO and Bill launch BMO Bill Connect, which helps SMBs automate bill pay, digitize invoicing, and monitor cash flow.
AI-powered tools can reshape banking but lenders need to be aware of the risks
Banks recognize the benefits and risks of AI. Planning for regulation, investing now, and educating staff are all key to embracing the tech.
Brazil wants to build on digital payment success with CBDC pilot
Brazil's central bank launched a pilot of the digital real, with hopes of giving the public access by the end of 2024.
Goldman Sachs weighs its options for lagging consumer-facing business
But it also isn't ready to give up on the main street consumer. Moving forward, the unit faces many hurdles to overcome its losses.
Wise addresses cross-border payments friction with two new US offerings
The payments fintech introduced Wise Business cards, which let businesses make cross-border payments at the mid-market exchange rate.
The technology gap at Black financial institutions is an opportunity for empowering partnerships
Roughly 80% of non-Black credit unions in the US offer online banking services. That number falls to just about half among Black credit unions
LendingTree addresses consumer debt concerns with Win credit card
The atypical credit card automatically applies rewards to customers' balances—a feature that can be appealing to money-conscious consumers.
Wells Fargo adds financial planning with a personal touch to its mobile app
Life Sync lets customers adjust their financial goals on the mobile app to get more accurate advice quickly.
Block will curb spending in 2023 and focus on building out Cash App
Block wants to develop more adjacent services for the Cash App ecosystem, which could help it maintain its Q4 growth trajectory.
UK banks show strong performance in Q4 but face unique challenges in 2023
UK banks faced unique challenges during Q4 2022. This year, the effects from persistent inflation and the failed mini-budget still lurk.
Stripe feeds merchant demand for softPOS with Tap to Pay on Android
Stripe launches Tap to Pay on Android a year after it signed on to deploy Apple's Tap to Pay on iPhone.
Cyber insurance is a hot topic for banks—here's how to make sure it doesn't become a hot potato
The nuances within these cyber insurance policies are complex and expensive. We look at how to make sure they're a good fit before investing in them.
Klarna highlights US achievements—but there's still room for growth
The US is now Klarna's largest revenue market thanks in part to its app solutions, the Klarna Card, and merchant-facing marketing tools.
Younger US consumers struggle more with loan repayment than older cohorts
Young people are becoming delinquent on auto loans and credit card payments at a faster rate than older generations.
How UK contactless payments value grew 50% last year
The total value of contactless payments made with UK Barclays cards surged nearly 50% YoY thanks to regulatory changes and broader acceptance.
Credit card debt climbs to nearly $1 trillion as consumers contend with economic headwinds
Issuers should keep an eye on rising delinquencies and charge-offs to understand how consumers are faring financially.
Zelle courts community banks to maintain relationships amid strong growth
Highlighting benefits to regional and community banks can help shore up relationships as fraud concerns mount.
What financial institutions are doing to attract new young customers
An overview of the competitive landscape for financial institutions seeking to get these consumers while they're young.
Goldman Sachs gives up on beleaguered direct-to-consumer credit card
Goldman Sachs wanted to introduce credit cards for its retail customers but gave up on the idea after shifting its strategy.
An Alpha Kappa Alpha sorority chapter created an affinity credit union designed to support Black women
Alpha Kappa Alpha founded For Members Only Federal Credit Union to empower Black women to build generational wealth.
UK wants industry feedback on proposed BNPL regulation
The UK government released draft legislation to provide more safeguards for UK consumers, many of whom are under financial strain.
US regulators say crypto is risky but not banned—behind the scenes, though, it's a different story
US regulators are allegedly discouraging banks from working with crypto firms. That could leave them with no option but to fold.
PayPal's Q4 earnings: Cost restructuring will fuel product innovation in 2023
PayPal's total payment volume grew 9% YoY. In 2023, it hopes to reinvigorate growth with cost restructuring and innovation efforts.
The Fed's Barr outlines a plan to eliminate racial discrimination in banking to kick off Black History Month
The Federal Reserve and other US regulators promised to increase crackdowns on discriminatory behavior.
Western Union's revenue struggles would have been worse without LATAM bright spot
Latin America's revenues and transaction volume increased 13% YoY and 8% YoY, respectively, despite the firm's total 6% YoY revenue decline.
Banks can cash in on gamification for customers, if it's done carefully
Financial institutions are using gamification to attract new customers and teach financial literacy. But they need to know about its side effects.
Zilch partners with debt charity to help customers get through cost-of-living crisis
Zilch partners with StepChange will help support struggling customers, but it raises questions around the harm BNPL can cause.
Apple Pay Later 'launching soon' to shakeup BNPL industry
Despite delays, Apple can benefit from its extensive user base and merchant acceptance to build BNPL success.
Consumers want money management tools, but aren't using what their banks offer
A lack of actionable insights may be the problem. Banks should rethink how tools are developed and offered.
Sightline Payments taps Visa to power prepaid casino cards
Sightline Payments will work with Visa to power its Play+ cards, which can help digitize the cash-heavy casino and gaming sector.
How banks can attract talent amid the booming tech layoff trend
Focusing on culture, values, and relationships will help bring in new employees. And tech investment won't just benefit customers.
Ingenico and Splitit tackle checkout friction to get at in-store BNPL's untapped potential
Ingenico and Splitit are focused on cutting customer friction to grow their in-store BNPL presence.
UK-based fintech Evident creates the first AI Index to track banks' progress in implementation
Just as the tech blows up in banking, UK startup Evident has created a non-biased index that scores banks on AI development and implementation.
CFPB could put issuer revenues at risk with credit card late fees proposal
The CFPB wants to lower the amount credit card issuers can charge in late fees—which would hurt a key source of issuers' revenues.
Why three fintechs attracted investment from shrinking UK funding pool
Embedded finance fintechs and those with disruptive potential are still attracting investment despite the funding decline.
Twitter gets regulatory ducks in a row to move into payments
Twitter started applying for state licenses in the US so it can advance its payments ambitions, per the Financial Times.
The CFPB's roadmap to open banking must navigate farther to reach its destination
The CFPB's period for public comment on its upcoming push to mandate open banking among banks and credit card companies ended on January 25.
American Express and Discover boast strong Q4 customer acquisition, but spending growth slows
Despite slower spending growth, both American Express and Discover managed to pull in more customers—positioning them well in the long term.
New banking customers seek quick onboarding and instant access—but they aren't getting it from banks
Consumers want a quick application process and immediate access to their new account. But an experiment found that banks can take up to two weeks.