Affirm COO: Walmart deal was “uneconomic”
Walmart makes up a relatively small portion of Affirm’s business that the buy now, pay later company can make up elsewhere, Chief Operating Officer Michael Linford said.
https://www.paymentsdive.com/news/affirm-coo-walmart-deal-was-uneconomic/743944/
How banks can use debit card rewards to their advantage
Debit card rewards often play second fiddle to perks associated with their credit card cousins. But astute banks are fine-tuning their approach.
https://www.americanbanker.com/payments/news/debit-card-reward-strategies-for-banks
Discover CEO may reap $2.4M bonus
Michael Shepherd will remain as interim chief executive officer potentially through June, and receive a $2.4 million cash bonus if the sale to Capital One closes by then.
https://www.paymentsdive.com/news/discover-financial-credit-card-capital-one-sale-ceo-bonus/743975/
Death by a thousand caps: State laws could kill credit card rewards
It’s not surprising, but sad that Jack Dorsey would follow Musk’s lead in becoming a poster child of what not to do when managing people. Ruthless tactics show a complete lack of #Leadership
Block lays off 1,000 employees via email
https://www.independent.co.uk/news/world/americas/jack-dorsey-block-email-twitter-b2722811.html
Ally Financial sells POS financing business to Synchrony
Swipe fee foes find legislative support in almost a dozen states
The battle to curb interchange fees has migrated from Illinois across the nation, with bills in 11 states seeing robust lobbying.
Executive Shuffle: Bolt, MoneyGram and DailyPay
New C-suite appointments so far this year demonstrate the payments industry’s efforts to digitize their offerings and cater to small business clients.
https://www.paymentsdive.com/news/executive-shuffle-bolt-moneygram-and-dailypay/743666/
Plaid’s Brian Dammeir talks future of open banking
Open banking has long been an industry-led venture. The trendline won’t change even if the timeline does, Plaid’s head of payments and financial management said.
https://www.bankingdive.com/news/plaids-brian-dammeir-talks-future-open-banking/743647/
Fintechs egg on ‘willingness to challenge norms,’ Bolt president says
Justin Grooms expects fintechs to keep pushing the payments industry forward with more competition for legacy players.
https://www.paymentsdive.com/news/bolt-ceo-fintechs-money-transmitter-license-bnpl/743422/
Banks bash Illinois trend-setting law on card swipe fees
Banks and credit unions are trying to kill a new Illinois law banning interchange fees, with a court filing, as multiple states seek to emulate the legislation.
Swift's line in the sand for a new payment message
One way or another, all international Swift payments will follow the ISO 20022 standard by the Nov. 22 deadline, according to the financial messaging provider.
https://www.americanbanker.com/payments/news/swift-reaffirms-iso-20022-november-deadline
How Pay-Over-Time Can Help Banks Fight the #BNPL Surge
Swiss National Bank Launches Pilot for Wholesale #CBDC on Digital Exchange
A Proactive Approach to Payment Fraud Prevention
Consumer education is critical to fraud management
Positive Pay is a vital investment for fraud prevention
https://news.bloombergtax.com/payroll/a-proactive-approach-to-payment-fraud-prevention
Retailers are pushing payment modernization as customers ask for more
A KPMG survey found that a majority of retailers plan to keep updating their payment programs to keep up with consumer tech demands.
Using crypto tech at U.S. agencies is dangerous, finance expert warns
Using #BlockChain as the “plumbing” for government payments would make those transactions visible and vulnerable to bad actors
Bank transfer fraud losses outpace crypto
The value of fraud losses last year was highest for bank transfers and payments, followed by #Cryptocurrency transactions, according to a report from the Federal Trade Commission released last week.
https://www.paymentsdive.com/news/bank-transfer-fraud-losses-crypto-federal-trade-commission/743202/
One issue looms as Capital One's megadeal hits home stretch
Their combined subprime card exposure could be a deciding factor for regulators
https://www.americanbanker.com/news/one-issue-looms-as-capital-ones-megadeal-hits-home-stretch
Google Wallet is introducing tap-to-pay functionality for children
