Payments

The California tech giant's take on pay-in-four installment loans has a top-of-wallet positioning that banks and merchants are unlikely to be able to match.

A more active Consumer Financial Protection Bureau, competition from Big Tech and sanctions on Russia are combining to make compliance a much larger concern than in the past, according to legal experts who spoke at American Banker's Payments Forum.

Teaming with the fintech Buy It Mobility Networks, Discover Financial Services plans to enable Automated Clearing House payments within merchant apps.

Now that JPMorgan Chase, Goldman Sachs, Capital One and others offer the alternative credit option, the startups that created this market are adding products to cement their hold on consumers and merchants.

The tech entrepreneur has been increasingly focused on Bitcoin, a key growth area for the payments company he co-founded.

Roger Hochschild predicts consumers will keep using their Discover cards in the months ahead, particularly when shopping online.

Using data aggregation subsidiary Finicity, the card network will allow its bank and credit union partners to offer installment loans directly to consumers, who can repay from checking and savings accounts.

The bank, which helped launch the real-time network for peer-to-peer payments, is trying to duplicate that success by helping corporate clients process certain transactions instantly with wholesale partners and, in some cases, retail customers.

Banks and creditors have spent years trying to remove obstacles to presentment and payment, but some consumers say they would still rather step on a Lego brick than pay a bill, according to PayNearMe research.

There’s a new unicorn in Latin America: Clip, a payments fintech in Mexico targeting small and midsize companies.