The portfolio, which Bank of America has handled since 2015, has roughly $100 million in balances.
Fintechs aim to build better expense cards for small businesses
Startups in the U.S. and Canada are emphasizing features such as virtual issuance and receipt capture in creating expense cards for business owners.
Facebook’s David Marcus, creator of embattled Diem project, to leave company
Marcus, who joined Facebook in 2014 from PayPal, ran the Messenger service for years before moving over to form the company’s blockchain division in 2018.
Where Facebook’s payments business stands without David Marcus
The former PayPal president was hired to bring an entrepreneurial spirit to the social network, and he helmed major projects such as the Diem stablecoin.…
The not-so-stable state of stablecoin regulation
Policymakers contend the fast-growing crypto sector poses many risks for consumers, but disagreements within the blockchain industry and Congress are expected to prevent the establishment…
TikTok partners with Stripe to expand creator payments
The video-sharing site has rolled out a new feature that allows viewers to tip creators, adding to Stripe’s network of clients in the crowdsourced entertainment…
Square rebrands as Block as it looks beyond payments
The company, which will keep the Square brand for its card readers, also supports music, cash transfers, Bitcoin trading and other financial services.
What will it take to get banks back into remittances?
Immigrants transfer billions overseas every year, and that market is dominated by nonbanks, crypto and fintechs. Those services could help banks get more customers in…
Europe’s homegrown payments network gains momentum
More financial companies across the Continent are joining a cross-border payment system designed to fight the rising threat from Visa and Mastercard.
Dwolla’s plan to capitalize on interchange-fee war
As Visa and Mastercard weigh raising rates and retail heavyweights like Amazon push back, the fintech sees an opening for a lower-cost payments alternative that…