The Downside of Not Offering Real-Time Payments
There have been remarkable strides toward U.S. real-time payment adoption in recent years, driven by growing demand among businesses and consumers. As the long-awaited ubiquity of instant payments draws closer, the financial institutions that have yet to adopt this nascent payment method face tremendous downsides. In a recent PaymentsJournal podcast, Justin Jackson, Head of Enterprise […]
Malware-as-a-Service Lowers the Technology Bar for Threat Actors, Study Finds
Malware-as-a-Service (MaaS) now accounts for over half of cyber threats targeting organizations. These threats have become more prevalent as cybercriminals increasingly outsource their operations. According to a research from Darktrace, the use of MaaS tools picked up steam in the latter half of 2024, making up 57% of identified fraud activities. One of the most […]
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 […]