Can ‘ATM pools’ save cash?
U.K. banks are testing machines that can accept deposits from multiple machines. John Adams Source link
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Senate Democrats press Zelle parent firm on scam reimbursement policy
Sen. Sherrod Brown (pictured), the chairman of the Banking Committee, along with Sens. Jack Reed of Rhode Island and Elizabeth Warren of Massachusetts, wrote Zelle that they “remain…
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Who wins and loses with Visa’s new dispute-management tool?
Visa’s collaboration with technology firm ServiceNow aims to create a GenAI-powered approach to managing banks’ complex transaction disputes. Andrew Harrer/Bloomberg Even if a bank wins a dispute, it…
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Jack Dorsey’s Block cuts jobs to achieve cap of 12,000 staffers
Jakub Porzycki/NurPhoto/Photographer: Jakub Porzycki/Nur Block began cutting jobs as part of the firm’s goal to cap its workforce at 12,000 employees. Block, run by Jack Dorsey, announced the…
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How Apple's new payment fees portend more legal fights
Apple’s payment policies face several legal and regulatory challenges. Apple’s long legal battle with Epic Games over app store checkout policies has entered a new phase after Apple…
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Fiserv wants a special purpose bank charter. What does this mean?
Fiserv has added more merchant services in recent years. In a tightly competitive payments market in a cost-conscious economy, Fiserv is trying to expand the amount of processing…
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HSBC takes aim at Revolut and Wise
Enjoy complimentary access to top ideas and insights — selected by our editors. HSBC is adding a new app to attract non-bank customers to cross-border payments.Hollie Adams/Bloomberg As…
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Will banks win or lose in the new generation of digital wallets?
The digital wallets emerging to manage assorted types of crypto and decentralized finance concepts will need to clear high hurdles before they directly threaten banks. terovesalainen/Adobe Stock This…
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Small shops provide bigger business for Square’s buy now/pay later loans
Afterpay’s buy now, pay later loan platform is fully integrated within Cash App, parent company Block recently said. AfterPay Buy now/pay later loans are driving record holiday-season sales…
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Lloyds says crypto scams are spiking, CBA using AI to fight abuse
A Lloyds Bank study finds that the number of crytpo scams rose by 23% year-over-year in October, with two thirds of those scams originating on social networks. Separately,…
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Fiserv tests a hub approach to embedded finance
Sunil Sachdev is Fiserv’s new head of embedded finance. In the push to bring banking services to merchants’ platforms via embedded finance, core provider Fiserv has lacked one…
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5 ways merchants are fighting card-swipe fees at the point of sale
Payment card interchange, a major factor of the “swipe fees” that average about 2% of each sale, is in the news again as lawmakers and regulators react to…
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IKEA takes a cautious first step into buy now pay later loans
IKEA, which has 52 U.S. locations, plans to add eight new stores and nine order-and-pickup locations in the next three years. Troy Harvey/Bloomberg As buy now/pay later fintechs…
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Square outage shows even a short disruption can cause chaos
Square was still working to fix the point of sale outage on Friday morning.David Paul Morris/Bloomberg Outages such as the one Square suffered late this week are rare,…
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The next phase of fare payments: A transit hub in an app
Commuters in Helsinki, Finland use its Whim app to pay for public transport, taxis and bikes.Andrey Rudakov/Bloomberg The post-pandemic surge in use of contactless payments for public transportation…
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U.S. consumer borrowing rises at slowest pace since late 2020
Total credit rose $7.2 billion, the smallest advance since November 2020, Federal Reserve data showed Monday. Brent Lewin/Bloomberg U.S. consumer borrowing slowed to a more than two-year low…
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JPMorgan starts euro blockchain payments for corporates
Chris Ratcliffe/Bloomberg JPMorgan Chase expanded one of the most high-profile projects to bring blockchain technology to traditional banking, introducing euro-denominated payments for corporate clients using its JPM Coin. …
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Banks knock CBDC as a potential drain on deposits
“As we have evaluated the likely impacts of issuing a CBDC it has become clear that the purported benefits of a CBDC are uncertain and unlikely to be…
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Ten payment companies putting the point of sale into smartphones
The payments industry’s maturation from static point-of-sale terminals is giving merchants a greater ability to diversify how they use space and engage with customers. While firms like Block…
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Why Apple Pay Later is different from other buy now pay later loans
Apple Pay Later is using a funding model that’s designed to remove intermediaries. Chris Ratcliffe/Bloomberg Though Apple took its time moving into the booming BNPL sector with a…
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