article thumbnail

CFPB's Chopra blasts potential card hikes

Payments Dive

In a rare TV appearance, the director of the Consumer Financial Protection Bureau said that the payments industry isn't competitive enough and that fee hikes by the big card companies would add "insult to injury" at a time of inflation. He noted new fintech tools could ultimately be a benefit if they add competition.

Cards 435
article thumbnail

Mastercard On The ‘Digital-First’ Transformation Of Credit Cards Into Daily Money Management Tools

PYMNTS

The great digital shift is transforming credit cards into money management tools. Consumers want cards, and they want them quickly, and they want those cards [delivered] in a digital way," said Turner. The company said that through the expansion of its Digital-First Card Program, which was announced last Wednesday (Sept.

Cards 249
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mastercard Launches V-Card Acceptance Tool

PYMNTS

Mastercard is launching a new service designed to make it easier for B2B vendors to accept virtual cards. The payments and technology giant announced Tuesday (July 9) the rollout of its Virtual Card Receivables Service, a tool to digitize the virtual card payment acceptance and reconciliation process for businesses.

Tools 155
article thumbnail

How FIs And FinTechs Are Expanding The Credit Card Paradigm

PYMNTS

As consumers shop amid ongoing public health restrictions, they almost invariably reach for their credit cards — whether the physical varieties in their wallets or the digital versions stored on their browsers and mobile devices. More than ever, credit cards are becoming the coin of the realm in the global connected economy.

Cards 226
article thumbnail

FinTechs Tout Corporate Cards’ Working Capital Opportunity

PYMNTS

With corporate card products offering an opportunity for businesses to manage their working capital, service providers have explored new opportunities to promote adoption of the payment tool. Some FinTechs are targeting small businesses directly with technology to ease card payment and acceptance capabilities.

Capital 172
article thumbnail

Trimble Enhances Fleet FinTech Offering With Card Processing

PYMNTS

The new upgrades include a credit card processing software, which will help with third-party integrations of credit card processing to allow for more options. Service centers with accounts through Trimble's third-party partner can now accept payments easily and process them with greater speed, the release stated.

Cards 246
article thumbnail

Card Giants Step Up FinTech Support Efforts Across The EU

PYMNTS

Amid collaborative efforts between traditional payment players and some smaller tech-nimble upstarts, the card giants are boosting their efforts to help FinTech firms bring new products to market. To that end, Mastercard has announced the next generation of its Accelerate program, focused on FinTech firms.

Fintech 190