Amex to prioritize growth in 2024, product innovation in 2025
American Express plans to invest in product innovation in 2025 to keep up with anticipated growth in 2024. “We currently have plans to refresh around 40 products globally next year,” Chief Financial...
View ArticleP2P market to reach $6.2B by 2028
The peer-to-peer payments market is growing as consumer demand ticks up and new competitors enter the space. P2P payment market size is expected to reach $6.4 billion by 2028, according to a January...
View ArticleTransactions: BNPL Sunbit taps Citi for debt warehouse facility
Buy now, pay later provider Sunbit has raised $310 million from Citi and Ares Management credit funds for a debt warehouse facility. The company aims to use the money to deepen its penetration in...
View ArticleFiserv payments revenue up 3% to $1.8B
Fiserv saw an increase in payments revenue during the fourth quarter as its financial institution clients looked to join new payment rails and grow deposits. Payments revenue during Q4 increased 3%...
View ArticleCitizens’ payments leader to speak at Bank Automation Summit U.S. 2024
Maria Mason, enterprise product manager at Citizens Bank, will speak at Bank Automation Summit U.S. 2024 about strategies for automating real-time payments. Bank Automation Summit U.S. 2024 takes...
View ArticleP2P leader PayPal to redesign mobile app
PayPal will invest in a new app to launch in 2024 alongside a new strategy to drive engagement with better consumer experiences like AI-driven shopping. “Redesigning our app and creating improved,...
View ArticleAffirm tech spend down 32% YoY, revenue up 48%
Buy now, pay later provider Affirm reduced overall operating expenses for the fourth consecutive quarter as operational efficiency and consumer growth remained a priority. Tech and data analytics...
View ArticleJPM builds its own omnichannel payments offering
J.P. Morgan Payments introduced its omnichannel checkout solution in January to offer a retail shopping experience that is native across shopping channels. “Merchants need to provide journeys that...
View ArticleFintech Funding: Overflow raises $20M in series B
Investors expect funding activity to rebound in 2024 following a year of uncertain macroeconomic conditions. In 2023, global fintech equity deals amounted to $39.2 billion, compared to $78.6 billion...
View ArticleFedNow, RTP adoption neck and neck
The Federal Reserve’s FedNow payments network, launched nearly seven months ago, has signed up almost as many financial institutions as The Clearing House’s Real Time Payments platform has in seven...
View ArticleNCR drives self-service banking
NCR Atleos reported that its self-service banking business continued to grow in the fourth quarter. NCR added more than 2,000 ATMs in the quarter, making the total number of active units 20,000,...
View ArticleCapital One, Discover integration could cost $2.8B
Capital One announced its plans to acquire Riverwoods, Ill.-based Discover Financial Services and expects to spend $2.8 billion on integration costs, including tech conversion. “Capital One certainly...
View ArticleBoston Fed’s Allison Baller to speak at Bank Automation Summit U.S. 2024
Allison Baller, Federal Reserve Bank of Boston vice president and head of industry readiness for FedNow, will speak at Bank Automation Summit U.S. 2024. Baller will join the panel “Strategies for...
View ArticleCap One could dodge law requiring added processing capacity
Capital One could be excluded from the proposed Credit Card Competition Act of 2023 if its acquisition of Discover Financial Services goes through and the bank creates an in-house processor. Read more...
View ArticleFIS certified to send, receive payments on FedNow
Technology provider FIS is now certified to send and receive payments on the FedNow payments rail as demand for the rail grows. FIS has 215 clients in contract or in the pipeline for the Federal...
View ArticleWhat bank execs are saying about embedded finance
LONDON — Will embedded finance technology usher in a new era of banking, or is the impact of the technology overblown? Bank executives from ClearBank, Deutsche Bank and Raiffeisen Digital Bank weighed...
View ArticleTD rolls out Tap to Pay for iPhone
TD Bank is targeting microbusiness payments with the launch of its Tap-to-Pay solution that helps turn iPhones into point-of-sale machines. The solution will be rolled out across the U.S. and will...
View ArticleOn the job with … Director of Innovation Management at Mastercard Foundry
Mastercard Foundry, the innovation hub for product development at the card giant, is creating a new technology-focused position, as it continues its tech investment. The company’s operating expenses...
View ArticleGrasshopper CEO previews faster check clearance
Digital Grasshopper Bank will roll out an improved check-clearing process this year to streamline the time between depositing a check and gaining access to the funds. Check deposits are “a complicated...
View ArticleFintech Funding: Tough 2023 attributed to ‘cautious’ VCs, high interest rates
Fintech valuations and funding rounds had a tough year in 2023 as high interest rates pushed investors into capital conservation mode. In 2023, “VCs were just trying to protect their own portfolios...
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