Mid-Tier Banks Are Ramping Up to Support Real-Time Payments
Real-time payments will be the next significant challenge for mid-tier banks in the U.S. More than half (59%) of mid-tier bank business customers believe their use of real-time payments will increase in the next year, prompting banks to make substantial investments to meet these needs. According to data from Volante’s Mid-Tier Bank Payments Report, the […]
Security Is the Watchword for the Prepaid Card Market
One theme underpins all the major trends in prepaid payments for 2025: security. Many of the industry’s developments stem from the desire to provide more secure payment options and enhanced protection for consumers. “You need those cards to be secure both on the front end, with the actual card itself, and on the back end, […]
Walmart’s Fintech One Is Poised to Take Off in 2025
Walmart’s majority-owned fintech, One, is set to receive a fresh infusion of capital next year, fueling speculation about the future direction of the retail giant’s financial arm. The first step will be the relaunch of the Walmart credit card after the severing of an alliance with Capital One last year. According to Bloomberg, One is […]
Greece to Cap Banking Fees to Ease Financial Pressure on Consumers
In the budget it passed for next year, Greece will implement caps on certain banking fees to help mitigate the cost-of-living pressures faced by consumers. Although Greek financial institutions had already moved to reduce some of the fees they charge customers, the country’s Prime Minister, Kyriakos Mitsotakis, said these measures didn’t go far enough. As […]
Shifting Trends: Credit Cards and P2P Payments Take Center Stage
Financial institutions are exploring new ways to attract younger savers, and their payment habits are evolving in turn. Credit cards have now edged out debit cards as the preferred choice, even among younger generations. Additionally, digital wallets and peer-to-peer methods like Venmo and PayPal are gaining significant traction in this demographic. Velera’s Eye on […]
Gen Z’s Penchant for In-Store Experiences Could Drive Physical Shopping Renaissance
Gen Z may be native to social media and mobile technology, but they are increasingly looking for physical retail shopping experiences. According to a study by EY, roughly 63% of Gen Z respondents plan to make purchases at brick-and-mortar retailers this holiday season. By comparison, 50% of Gen Zers said they would shop online, a […]
Prepaid Cards: A Vital Aid for Disaster Relief
Over the past five years, the U.S. has experienced an average of $18 billion annually in natural disaster-related damages. Millions of individuals are impacted by natural disasters each year, facing financial challenges such as damage to homes, the need for temporary shelter, and the replacement of personal belongings and food. With delays in funds distribution […]
CFPB Finalizes Rule to Limit Bank Overdraft Fees
The Consumer Financial Protection Bureau has released the final iteration of its rule that will cap the overdraft fees banks and credit unions can charge, a measure expected to save U.S. consumers $5 billion annually. Under the new regulations, banks could either charge a $5 overdraft fee or limit the fee to an amount that […]
How Data Powers B2B Expense Management
Data is the foundation of business-to-business expense management and corporate credit. Effective data management gives CFOs and finance offices insight into high-margin revenue opportunities and highlights the path to overall business efficiency. In a recent PaymentsJournal webinar, Aaron Bright, Head of B2B at Galileo, and Albert Bodine, Director of Commercial and Enterprise Payments at Javelin […]
A CBDC Could Be the Foundation of India’s Future Economy
India has been at the forefront of adopting emerging payments, and recent comments from a central bank official suggest that a central bank digital currency (CBDC) could play a vital role in the country’s future economy. The remarks were made during a farewell speech by Shaktikanta Das, the governor of the Reserve Bank of India. […]