Shares of Diebold Nixdorf Inc. plummeted 34% in late Wednesday morning trading after the ATM manufacturer and banking and retail hardware and software provider reported an unexpectedly large second-quarter loss and said it is looking to revise its lending agreements in the face of lowered financial predictions. “While revenue was …

Financial technology firms, many of which command significant positions in the payments business, can now apply to become national banks. Moving on a proposal it’s had under consideration for months, the Office of the Comptroller of the Currency announced on Tuesday it will begin accepting bank-charter applications from fintech firms. …

Long an afterthought in payments, peer-to-peer transfers are top-of-mind in the industry just now, and this week three reports emerged to show just how fast the payment type is growing for bank and nonbank networks alike. The bank-owned Zelle network processed 100 million transactions totaling $28 billion in the three …

Processor Stripe launched Stripe Issuing, a platform to aid merchants creating their own credit and debit cards. The service enables developers and businesses to create physical or virtual cards with a single application programming interface call to the platform. Stripe said it is not issuing cards directly to consumers. Physical cards …

The impending demise of Snap Inc.’s Snapcash service comes at a time when peer-to-peer payment services are growing rapidly, but many consumers still remain hesitant to use them. Some of these consumers are confused about pricing, new findings from Fiserv Inc. suggest. Fiserv, a Brookfield, Wis.-based financial-institution processor, on Monday …

Global investment in blockchain technology will double this year compared to 2017, reaching $1.5 billion, according to a new report from International Data Corp. Investment will increase over the next five years at an annual rate of 73.2%, Framingham, Mass.-based IDC forecasts, reaching $11.7 billion in 2022. “Enthusiasm for blockchain …

U.S. Bancorp’s Payment Services unit posted a 28% gain in net income in the second quarter, in part due to higher merchant-processing volumes. The unit, one of five major divisions at the Minneapolis-based super-regional bank, produced a $361 million profit versus $282 million a year earlier, or 21% of the …

Bank of America Corp.’s customers made 35.1 million Zelle person-to-person payments in the second quarter, 142% higher than the 14.5 million Zelle payments they made a year earlier, the Charlotte, N.C.-based banking giant reported Monday. The value of the P2P payments totaled $10 billion, double the $5 billion from 2017’s …

Payment processor Worldpay Inc. said it will bring Mastercard Inc.’s Pay by Bank mobile and online payment application to its United Kingdom merchants in early 2019, and also will use other Mastercard digital services. Launched in 2016 by London-based payment-technology developer Vocalink, which Mastercard acquired in May 2017, Pay by …

The top four uses for peer-to-peer payments on the Zelle network are splits for rent, meals, utility bills, and gifting, according to a survey of 9,000 mobile-banking users. The results were released by Early Warning Services LLC, which operates the bank-owned Zelle service. Payments processor Computer Services Inc. reported a …