Walmart’s Wire Transfer Policies Lead to $10 Million Fine
For years, Walmart turned a blind eye to criminals who coerced victims into sending them wire transfers through its in-store money transfer services, according to the Federal Trade Commission. Walmart has now agreed to pay $10 million to settle the allegations. FTC’s investigation found that Walmart failed to implement basic anti-fraud safeguards, such as proper […]
EuroPA, EPI Aim to Strengthen European Cross-Border Real-Time Payments
The EuroPA alliance is partnering with the European Payments Initiative (EPI) to explore opportunities for connecting European consumers and merchants across 15 countries. The initiative aims to support all payment types—from peer-to-peer (P2P) payments to enterprise-level transactions. Under this model, users will be able to use their preferred digital payment solutions both locally and across […]
How Banks Can Bring Small Businesses Back to the Fold
The relationship between financial institutions and small businesses has grown increasingly strained. Many small businesses are becoming dissatisfied with their payment and banking services. In fact, more than half obtain their merchant payment accounts from providers other than their primary bank. In a PaymentsJournal podcast, Fiserv’s Tim Ruhe, Head of FI Payment Strategy, AJ Levin, […]
Fiserv Unveils Stablecoin for its Network of Financial Institutions
More banks will soon have an avenue to capitalize on crypto, as Fiserv rolls out a digital assets platform and stablecoin that will be available to its customers. The stablecoin, FIUSD, along with the platform, will be accessible to banks and credit unions by the end of the year. This move is expected to dramatically […]
FICO Debuts Credit Scores with BNPL Data
After a year of research, FICO is introducing two new credit score models that incorporate buy now, pay later data in their calculations. FICO Score 10 BNPL and FICO Score 10 T BNPL will be available alongside the existing versions of the FICO Score at no additional cost, giving lenders the ability to evaluate the […]
Digital Assets Deliver: How FIs Are Leading the Next Financial Era
The headwinds that once held back financial institutions from adopting crypto—whether due to regulatory concerns or a lack of understanding of digital assets—are finally easing. In the coming years, a fifth of all U.S. money center banks and public companies are expected to allocate at least 2% of their treasury holdings to crypto. Digital assets […]
African Trade Turns Inward Amid Growing Tariff Disputes
As trade wars escalate globally, an African payment system is accelerating its efforts to enable businesses across the continent to conduct cross-border transactions in local currencies. The Pan-African Payments and Settlements System (PAPSS) allows companies in different African nations to trade without relying on the dollar. Amid ongoing tariff disputes involving the U.S., China, and […]
Coinbase Launches Stablecoin Platform for E-Commerce
After bringing Shopify on board, Coinbase will roll out its stablecoin acceptance platform to merchants at scale. The platform, dubbed Coinbase Payments, provides the infrastructure where merchants can receive payments in Circle’s USDC. It runs on Coinbase’s layer-2 network, Base, and supports hundreds of wallets, including MetaMask, Phantom, and Coinbase Wallet. On the back end, […]
How Banks Can Capture the Wealth Transfer from Boomers to Gen Z
As we stand at the gates of the world’s greatest generational wealth transfer, from the Baby Boomers down to their heirs and descendants, banks are positioning to capture those assets. This requires a long-term multigenerational strategy, one for which a bank must start sowing the seeds now so it can win later—perhaps much later. In […]
Inside the Senate’s Newly Passed Stablecoin Bill
The Senate’s passage of the GENIUS Act marks the first time stablecoin legislation has cleared either Congressional chamber, along bipartisan lines. The bill—establishing federal standards for the issuance, trading, and custody of stablecoins—passed with a 68-30 vote, including support from 18 Democrats. The House of Representatives must now pass the bill for it to become […]