The Latest
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Banks bash Illinois trend-setting law on card swipe fees
Banks and credit unions are trying to kill a new Illinois law banning interchange fees, with a court filing, as multiple states seek to emulate the legislation.
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Permission granted by Gabrielle Saulsbery
Q&AFintechs egg on ‘willingness to challenge norms,’ Bolt president says
Justin Grooms expects fintechs to keep pushing the payments industry forward with more competition for legacy players.
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AndreyPopov via Getty Images
Arkansas, Utah move ahead with EWA laws
The two states are the latest to pass legislation addressing workers’ growing practice of using earned wage access to tap their income before a regularly scheduled payday.
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Anna Moneymaker via Getty Images
CFPB seeks extension to respond to nonbank oversight lawsuit
The Consumer Financial Protection Bureau asked a federal court for more time to respond to a lawsuit over its authority to oversee big tech payments players.
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Courtesy of Affirm
Affirm, other BNPL players ratchet up credit bureau reporting
At least three buy now, pay later firms have begun reporting consumer data on installment financing to TransUnion or Experian, and another gives customers the option of reporting that data.
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Laurel Deppen/Payments Dive
Bank transfer fraud losses outpace crypto
The value of fraud losses last year was highest for bank transfers and payments, followed by cryptocurrency transactions, according to a report from the Federal Trade Commission released last week.
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Retailers push payment modernization
A KPMG survey found that a majority of retailers plan to keep updating their payment programs to keep up with consumer tech demands.
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Lynne Marek/Payments Dive
Mastercard courts community banks
The card network has initiated a new partnership with the Independent Community Bankers of America that will extend its services to that group’s financial institution members.
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andreswd via Getty Images
Payments players landed less capital in 2024: S&P report
Venture capitalists invested 47% fewer dollars, compared to 2023, despite most of the startups posting increased revenue last year.
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Scott Olson / Staff via Getty Images
Discover cards now accepted at Airwallex merchants
A partnership gives the card network a wider reach at a time when its proposed merger with Capital One still awaits regulatory approvals.
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Permission granted by Fiserv
Fiserv acquires Dutch payment company CCV
The processor will use CCV to expand the presence of its Clover point-of-sale system across Europe, the company said. The price paid was about $220 million, according to a regulatory disclosure.
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Courtesy of Fleetcor, now known as Corpay
Corpay CAO steps up as CFO exits for nonprofit
Alissa Vickery is taking over as interim CFO as Tom Panther has left the company to become CFO of the National Christian Foundation.
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Permission granted by Walmart
Klarna seeks to flex advertising muscle
Buy now, pay later provider Klarna has become an advertising juggernaut, and the new tie to Walmart will give it access to troves of additional customer data.
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skynesher via Getty Images
Fiserv, PayPal and FIS change up board members
Payments companies are adding board members, and bidding farewell to others, as the industry sees increased merger and acquisition activity.
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Chris McGrath via Getty Images
Affirm executive joins crypto firm Gemini as CFO
Dan Chen was formerly the vice president of capital markets and bank partnerships for the buy now, pay later company.
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Joe Raedle via Getty Images
Trump Organization lawsuit raises questions about Capital One-Discover deal
Capital One needs three U.S. approvals to proceed with its $35 billion purchase of Discover. Could a Trump Organization lawsuit against the bank spell trouble?
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Michael Smith/Newsmakers via Getty Images
ColumnStates may be called on to pick up payments regulatory slack
As the Trump administration dismantles the Consumer Financial Protection Bureau, state lawmakers and regulators have more opportunity to shape payments tool oversight, or risk repercussions.
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Permission granted by Brex
Brex strives for predictability after operational overhaul
After the company laid off 20% of its employees last January and changed the way it puts out products, Brex COO Camilla Matias has high hopes for what’s coming.
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Scott Olson via Getty Images
Northern Trust exec: Crypto rule changes may ease tokenization
Biden-era anti-crypto regulations didn’t just affect volatile digital assets. They also affected firms offering traditional assets, like bonds, on the blockchain.
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Noam Galai via Getty Images
Klarna whittled workforce via AI ahead of IPO
The Swedish buy now, pay later juggernaut cut its headcount in each of the past two years, and expects to keep shrinking it.
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Kaarin Vembar/Payments Dive
Klarna to displace Affirm as Walmart BNPL provider
The Swedish buy now, pay later business partnered with a Walmart-backed fintech to offer loans at the retail giant via a digital payments app.
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Anna Webber via Getty Images
Block takes on payday lenders with Cash App
The company says new consumer loans to be made by its Square bank through the digital wallet are a less expensive alternative to predatory short-term financing.
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Michael A. McCoy / Stringer via Getty Images
Retail, crypto groups converge to back stablecoin legislation
The Merchants Payments Coalition and the Payment Choice Coalition locked arms to advance stablecoins as the Senate Banking Committee passed a stablecoin bill.
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Courtesy of American Express
Payments firm ‘for sale’ signs pop up as buying interest swells
Payments players, including Green Dot and Flywire, have potentially put their businesses up for sale and larger companies have shown their appetite for acquisitions as an uncertain economy increases financial pressures.
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Permission granted by PDI Technologies
Digital payments to exceed $33.5 trillion by 2030: report
Consumers are predicted to rely less on debit and credit cards and turn more to mobile wallets in the coming years, a Worldpay report predicts.
