In a Fragmented Cross-Border Payments Landscape, Consumers Seek Stability
The rise of digital payments has made the world more connected than ever, driving demand for cross-border transactions. However, a report from Visa found that 77% of consumers still rely on multiple payment methods for international transactions. In fact, Visa revealed that the average consumer uses four different payment methods for cross-border payments, and two-thirds […]
Senate Debates the Debanking of Crypto
The U.S. Senate held hearings this week on whether the traditional banking industry has debanked accounts connected to cryptocurrency. While both Republicans and Democrats agree that debanking is a real problem, their approaches to a solution differ significantly. The crypto industry maintains that federal regulators have quietly supported its debanking, though there is no definitive […]
Modernizing Payments: Why Legacy Technology Is No Longer Sustainable
Tue, Feb 25, 2025 1:00 PM – 2:00 PM EST Register Now The payments landscape is evolving rapidly, but many organizations are still grappling with outdated legacy systems. These aging technologies often fall short of modern demands, creating challenges such as poor integration with newer tools and far-reaching operational inefficiencies. The cost of inaction is […]
Patelco Credit Union Faces More Blowback from Ransomware Attack
The fallout from last summer’s ransomware attack on California’s Patelco Credit Union continues. State regulators have fined Patelco $100,000 and ordered it to implement a new cybersecurity program, which includes hiring a security consultant and providing training for all employees. But Patelco’s troubles don’t end there. The credit union is also facing a class-action civil […]
BlackRock Plans to Launch Bitcoin Exchange-Traded Product in Europe
After the massive success of its U.S. bitcoin exchange-traded fund (ETF), BlackRock plans to launch a similar product in the European Union. As the world’s largest asset manager, BlackRock has attracted more than $57 billion in net assets to its iShares Bitcoin Trust (IBIT) ETF in just over a year. IBIT is the most popular […]
Capping Credit Card Interest Rates at 10% Would Disrupt the Industry
Following up on a pledge made by President Donald J. Trump during his campaign, the unlikely team of Josh Hawley and Bernie Sanders has proposed a law capping credit card interest rates at 10%. The two senators have proposed similar legislation in the past, but both senators’ previous proposals would have capped rates at a […]
After AI Implementations, Financial Institutions See Tangible Gains
With artificial intelligence being deployed at scale in many financial services firms, scrutiny has increased on the measurable impacts of the technology. According to a recent survey by Nvidia, nearly 70% of financial leaders said that AI had driven a revenue increase of 5% or more for their organizations, and there was a marked year-over-year […]
How Financial Institutions Can Unlock Growth
A significant portion of the U.S. population is active in the digital world but remains invisible to financial institutions. These consumers are actively seeking a bank or financial firm that can help them access an economy that, for the most part, is out of their reach. In a recent PaymentsJournal webinar, Joshua Linn, Senior Vice […]
FIS Adds FedNow Send Capabilities for Comprehensive Instant Payments
Amid the continued push for U.S. instant payments adoption, FIS announced that it is one of the first fintech providers to be certified to enable send capabilities for credit transfers on FedNow. The U.S. Federal Reserve launched its FedNow instant payments service in July 2023, and roughly 1,000 financial institutions are currently participating. However, with […]
How Do BNPL Loans Affect Credit Scores?
Pretty much since their introduction, buy now, pay later plans have been a point of contention regarding their impact on users’ credit scores. BNPL providers worried that sharing users’ data could harm them in the long run. But now, Affirm has teamed up with Fair Isaac Corp. (FICO) to show that BNPL loans have little […]