Outdated Payment Systems Hamper U.S. Businesses
Most businesses still rely on manual processes to handle at least part of their payments, contributing to a growing problem with failed payments. According to Modern Treasury’s new report, The State of Payments Operations 2025, the vast majority of financial decision-makers say their company struggles with its current payment operation. This has been a consistent […]
Staying Top of Mind: Mitigating the Unbundling of Banking Services
From One-Stop Shops to Many-Stop Journeys As Gen Z—a cohort born between the mid-to-late 1990s and early 2010s—comes of age, the financial services industry is increasingly shifting its focus from Millennials to this younger, more digitally native generation. Unlike Baby Boomers, who often relied on a single “primary bank” for multiple financial services, Gen Z […]
UK Plans Launch of Organization to Facilitate Variable Recurring Payments
Two UK financial organizations are planning to establish an independent firm, Open Banking Limited, designed to foster the adoption of variable recurring payments (VRPs). The Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) said that Open Banking will operate as an independent central entity and aims to launch live services as early as […]
DP World Unveils Its Own Stablecoin for Cross-Border Usage
The promise of stablecoins as a means for facilitating cross-border payments has taken another important step toward realization. DP World, a logistics company based in Dubai, has announced its own stablecoin, developed in collaboration with several global financial institutions. The stated goal is to streamline transactions across Asia and Africa, where businesses often struggle with […]
The Wealth Management Industry Is at a Critical Intersection With AI, Gen Z
The number of high-net worth individuals, who have over $1 million in investible assets, has steadily increased in recent years. While the wealth management industry is booming as a result, the sector is also in a state of flux due to emerging technologies and the unique preferences of young investors. In 2025 Wealth Management Trends, […]
A Record Number of Consumers Are Making Minimum Credit Card Payments
Many consumers are sticking to just the minimum payments on their credit card bills, according to a recent report from the Federal Reserve. The data, covering through Q3 2024, revealed that over 10% of consumers were simply getting by, continuing a three-year trend. As average credit card interest rates have surged, delinquencies have also risen, […]
HSBC Shutters Zing After Struggling to Compete with Fintechs
A year ago, HSBC launched its cross-border payments app, Zing, aiming to show fintechs in this space what Europe’s largest bank could accomplish. Now, Zing has shut down, leaving many to question whether a major international bank has any role to play in cross-border payments. Zing was designed as a standalone product that didn’t require […]
Why Painless Payouts Matter
The buzz is growing louder. Many merchants are tired of navigating intricate payout processes that drain valuable time and resources. They want to be rid of payment headaches and welcome more seamless efficiency. Merchants demand a cutting-edge payout solution that helps them focus on their business while giving them the peace of mind that the […]
Brazil’s Pix Set Records, Surpassing Credit Card Transactions Last Year
In its continued success story, Brazil’s instant payment system Pix processed over six billion transactions per month in 2024. A report from Matera, Pix by the Numbers, detailed the platform’s transactions and found dramatic increases in both consumer and business-to-business payments, which were up 94% and 56%, respectively, year-over-year. December 20, Pix reached its high-water […]
Flipping the Script, CardWorks Buys Ally’s Credit Card Business
In a reversal of a deal that was supposed to happen four years ago, CardWorks is now buying Ally Financial’s credit card business. The news follows reports from last December that Ally was seeking a buyer for the credit card division it had acquired in 2021. Ally, which began as GMAC, the lending arm of […]