FTX to Repay Creditors in a Significant Step for the Crypto Industry
After its watershed collapse, failed crypto exchange FTX is set to send roughly $1.2 billion in repayments to its first group of creditors. FTX Digital Markets, the Bahamian unit of the firm, will begin disbursing initial repayments to users owed less than $50,000. These “Convenience Class” creditors are expected to receive 100% of their claim […]
Chase to Ban Zelle Payments Involving Social Media
JPMorgan Chase is taking proactive measures against fraud on peer-to-peer payments by pre-emptively canceling Zelle payments associated with social media accounts. An update to Zelle’s terms of service, slated to take effect on March 25, grants Chase the right to delay, block or cancel payments, specifically flagging social media as a high-risk area. Chase’s website […]
Merchants Are Searching for Value in an Increasingly Complex Environment
Recent technological breakthroughs have given merchants more payment optimization options than ever before. However, the increasing complexity of the landscape makes it challenging to identify value and create opportunities while keeping expenses down. In a recent Javelin Strategy & Research report, 2025 Merchant Payment Trends, Don Apgar, Director of Merchant Payments, and James Wester, Co-Head […]
Credit Card Debt Continues to Mount for U.S. Consumers
Credit card debt among U.S. consumers reached $1.21 trillion, the highest level on record since the Federal Reserve began tracking the data over 25 years ago. According to its Q4 2024 findings, credit card balances increased by $45 billion in Q4, reflecting a more than 7% year-over-year increase. At the same time, credit card delinquency […]
GOP Moves to Repeal Cap on Overdraft Fees
As the Trump administration continues to dismantle the Consumer Financial Protection Bureau, Republican lawmakers have set their sights on reversing a major CFPB rule. Two key legislators have introduced a resolution to repeal the $5 cap on bank overdraft fees, which was enacted last December and set to take effect this October. The regulation would […]
FinOps: Optimizing the Relationships Between Banks and the Cloud
Years ago, Capital One made a momentous announcement: it had migrated all its on-premises data centers to the cloud via Amazon Web Services (AWS). Since then, Capital One has been deploying and scaling applications in the cloud while introducing a range of technological solutions—many powered by artificial intelligence—across the business. This practice is known as […]
Coinbase Is Working Toward Return to India Amid Softened Crypto Stance
Coinbase intends to return to India after being forced to shut down its operations in the country over a year ago. According to TechCrunch, Coinbase has met with several authorities in India, including the Financial Intelligence Unit (FIU), a government agency that oversees financial transactions. Coinbase’s previous attempts to establish crypto services in the […]
ISO 20022 Is the Beginning of the Road for Mid-Market Financial Institutions
After years of discussion about the new messaging protocol, ISO 20022 is now an inevitability. Though there are substantial benefits to adopting the protocol, many financial institutions—especially in the mid-market tier—are still unprepared to meet compliance by the March 10 deadline. In a recent Payments Journal podcast, Mihail Duta, Director of Solution Consulting and Transaction […]
Amid Increasing Competition, Zelle Leads the P2P Pack
Peer-to-peer (P2P) platform Zelle processed over $1 trillion in total payment value last year, which the company stated was the highest amount ever sent on a P2P payments platform in a single year. Overall, Zelle processed 3.6 billion transactions last year, marking a 25% year-over-year increase. The platform also added 16 million users, bringing the […]
As Powell Commits to No CBDC, Global Momentum Stalls
Fed Chair Jerome Powell’s firm stance that a central bank digital currency will not happen under his watch aligns the U.S. with other nations that have been slowing their own CBDC developments. While the Fed has no plans to pursue a CBDC, nearly a third of central banks worldwide have delayed their own digital currency […]