Green Dot Corp. has been steadily building its product roster in financial services for the underbanked, with the latest development emerging this week in the form of an expanded focus for the 15-year-old Walmart MoneyCard. The prepaid card, issued by Green Dot Bank and branded by Mastercard or Visa, can …

In a deal that underscores the crucial importance of open banking in payments, Visa Inc. early Thursday said it has agreed to pay $2.15 billion to buy Tink AB, a 9-year-old, Stockholm-based company whose network connects to 3,400 financial institutions throughout Europe. The agreement comes five months after Visa abandoned …

Continuing its strategy of enabling application developers to connect to its platform faster, Dwolla Inc. on Tuesday announced the addition of two new drop-in components. The first new component, called Create Beneficial Owners, enables developers to streamline the collection of information required by payments companies for verification of the accounts …

American Express Co. said its Kabbage unit now offers Kabbage Checking to U.S. small businesses. AmEx also said it now offers Kabbage Funding to small businesses with lines of credit ranging from $1,000 to $150,000.Global Payments Inc. has launched a point-of-sale application that operates on commercially-available, off-the-shelf mobile phones, reported The Paypers …

The Covid-19 pandemic has helped fuel consumer adoption of mobile-banking apps by 67% of retail bank customers in the United States, up seven percentage points from 2020. And now no significant drop in consumer usage of these apps is expected as Covid-19 restrictions ease, says the J.D. Power 2021 U.S. Banking …

Bank of America Corp.’s decision to introduce fast payouts to consumer accounts globally brings a major financial institution into a market that is attracting increasing interest from an array of payments providers. Pressure for such services has grown more intense with the growth of the gig economy and recent needs …

From a merchant perspective, one of the most harmful features of today’s card networks is default pricing. One merchant advocate succinctly described the anti-competitive impact of default pricing, stating, “with default pricing, banks have no incentive to compete for merchants’ business.”  Today, individual merchants are forced to face off against …

Legal cannabis sales have become a fast-growing market for electronic payments. Processors can credit the Covid-19 pandemic with helping move the needle. Just like their counterparts in other merchant segments, legal cannabis merchants found themselves scrambling to embrace contactless payments options in the wake of Covid-19. Over the past 16 …

The regulatory climate for financial services is warming up, and even companies that have largely escaped notice are feeling the heat. Regulators at the state and federal levels are taking a new look at everything from transaction routing to the ways companies market themselves. While it may look like they …

Building on its strategy to enable application developers to connect to its platform faster, and in turn bring their applications to market faster, Dwolla Inc. is offering what it calls Drop-in Components. It’s a low-code programming option, so called because it allows developers to integrate Dwolla’s application programming interface using …