Despite Popularity in Europe, Pay-by-Bank Still Lags in North America
Pay-by-bank payment methods appeal to less than one-third of Canadians, except among newcomers to the country. This trend reflects a broader pattern where pay-by-bank has gained popularity worldwide—yet remains less prevalent in North America. Data from Payments Canada found that only 29% of Canadians find pay-by-bank appealing, while 33% do not. The only demographic where […]
RTP or FedNow Instant Payments? The Answer Is Both
The introduction of the Federal Reserve’s FedNow in June 2023 presented many financial institutions with a dilemma: should they adopt the new system, or stick with The Clearing House’s RTP, which has been in use since 2017? As many banks are discovering, the best answer might be to embrace both. In a PaymentsJournal webinar, Anoop […]
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 […]