With its acquisition of Axia Technologies Inc., also known as AxiaMed, Bank of America Corp. took a big step toward rebuilding its merchant-acquiring business. AxiaMed provides financial services and payments technology to health-care providers. Terms of the deal were not disclosed. The acquisition, announced Friday, gives Bank of America a …

It’s time to replace interchange with a model that fairly represents the value each party receives. Fintechs have shown us the way to create exciting new forms of financial services. But we are merely scratching the surface of what the age of intelligent systems can do for the payments industry. …

How much attention will the payments industry draw from the regulator and its new director? History would indicate the industry won’t be ignored. PayPal Holdings Inc.’s win earlier this year in its lawsuit against the Consumer Financial Protection Bureau and its prepaid rule may have appeared to push back on …

About 24 million American households have dropped out of the payments scene since 2017. The group once known as “underbanked” Americans has disappeared. To understand where they went, a bit of history is in order. In 2009, the Federal Deposit Insurance Corp. began doing surveys of American households every two …

As payments providers ramp up fast-payment capabilities that don’t depend on existing card-payment rails, pressure has mounted on the dominant U.S. card networks to enable quick transfers from senders to accounts held by receivers worldwide. Visa Inc. on Tuesday, for example, announced Visa Direct Payouts, which allows users to send …

Visa Inc. reported early Monday that after a year of preparation it has completed the first transaction involving direct settlement with a so-called stablecoin, USD Coin. The transaction, which involves a stablecoin that mirrors the U.S. dollar, allowed Crypto.com, a platform for the trading of digital currencies, to send transactions …

By shifting stores and consumers to contactless payment, the pandemic made it easier to stop fraud.  One year into a global pandemic, and our lives will never be the same. The way we work, shop, travel, and entertain ourselves have all seen major changes during a year of living surrounded …

Increasingly, payments providers are discovering that the familiar IPO isn’t the only way to cash in on the public markets. He was “dead set against” it, until he was for it, Flint Lane says. The “it” was the way Lane’s company, Billtrust, traded two decades of private ownership to go …

People who cover financial services got all excited when JPMorgan Chase chairman and chief executive Jamie Dimon said a bad word (which the transcript politely says is “indiscernible”) in describing his feelings, during the company’s fourth-quarter earnings call, about technology companies getting into banking. But in the midst of the …

Affirm Inc. said it had 4.5 million active customers in its fiscal 2021 second quarter ended Dec. 31, a 52% increase from the second quarter of fiscal 2020.Payments provider Repay Holdings Corp. said an integration with PN3 Solutions, a software provider for business-to-business payment automation, will allow PN3’s clients to complete payments to …