Why Affirm’s Pay-Over-Time Plans Make Sense for Ace Hardware
Ace Hardware’s new partnership with Affirm, which offers pay-over-time options at the point of sale, gives the retailer another way to show its advantages over big-box stores. As a cooperative, with most of its locations independently owned and operated, Ace has already worked to ensure shoppers enjoy consistent payment options. Now, it can provide Affirm […]
Mobile Wallets Are Shaping the UK Payments Landscape
Contactless payments have become the norm in the UK, with data showing that more than half of adults now use mobile wallets. A study from UK Finance found mobile wallet usage for both online and in-store purchases has increased, with roughly 57% of UK adults using them last year—up from 42% in 2023. Mobile wallets […]
The Invisible Checkout: Embedded Payments Transform Small Business
Almost without notice, disappearing payments have shifted from novelty to expectation in small business transactions. A traveler arrives at an airport, books a rideshare, and checks into a hotel—never pulling out a wallet or handing over a card. The transaction happens seamlessly, almost invisibly. The same technology fueling consumer-facing apps is now within reach for […]
As Paper Checks Sunset, Fifth Third Bank Scales Up Prepaid Program
Today marks the official end of paper checks for federal benefit payments. As Social Security and the IRS fully transition to direct deposit and prepaid cards, Fifth Third Bank is already capitalizing on the shift. Just three weeks ago, Fifth Third took over the Treasury Department’s Direct Express program, which had previously been managed by […]
OpenAI and Stripe Launch Agentic Commerce Initiatives
Artificial intelligence has become embedded in the shopping experience, and new collaborations between OpenAI and Stripe are expanding the technology’s role in payments. First, ChatGPT’s U.S. users can now make Etsy and Shopify purchases directly on the platform. For example, once a shopper engages with the AI interface to explore a product and refine their […]
Uncovering the Cybersecurity Threats Wealth Management Clients Face
Fraud has surged as cybercriminals have developed new technologies and tactics. Wealth management clients have become prime targets—in large part because they have more to lose. Even though high-net-worth individuals may be at higher risk from fraud, they also have a powerful resource to help protect them: their financial advisor. As Tracy Goldberg, Director […]
Swift Is Creating a Blockchain-Based Platform for Cross-Border Payments
Global messaging hub Swift has spent decades building a global system for cross-border payments, and now it plans to launch a blockchain-based solution incorporating digital assets. In collaboration with roughly 30 global financial institutions, Swift is developing a shared digital ledger designed to be interoperable with existing blockchains, including those supporting stablecoins, tokenized deposits, and […]
How Banks Can Regain the Ground They’ve Lost to Paytechs
In the race to handle payments, banks are increasingly losing ground to smaller, nimbler paytechs—companies that provide not only end-to-end payment solutions but business accounts and operational tools. Data from Capgemini highlights how these companies are challenging banks with faster services, more cost-efficient services. Onboarding a merchant through a bank can take up to seven […]
Average FICO Score Drops: A Canary in a Coal Mine?
FICO Scores are the credit card standard, throughout the account lifecycle. Top issuers use them at the acquisition point, they become the foundation for assessing credit quality on regulatory reports like Current Expected Credit Loss, automated credit line increases consider them, collection groups use them to triage resources, and when it comes time to securitize […]
Why a Bill Pay Redesign Should Be a Higher Priority for FIs
Bill pay has been a core service for financial institutions for years. However, aside from the digital exterior, the nuts and bolts of bill pay have been largely unchanged since their introduction. This lack of modernization is beginning to show now that the open-banking model is gaining momentum. As James Wester, Co-Head of Payments at […]