Engaging cardholders: It’s a digital issue
The more card issuers can do to digitally empower cardholders, the more likely the card will be used, building loyalty and connection.
Browsing: Payments
CFPB cautions against storing money on apps lacking deposit insurance
The CFPB issued a consumer advisory warning that many popular nonbank payment apps lack deposit insurance and therefore the protection of keeping money in a bank account.
ABA, BAFT raise concerns with cross-border payments proposal
The Bank for International Settlements’ proposed harmonization requirements for cross-border payments have not struck the right balance, and if mandated in their current form, would make cross-border payments slower, more expensive and less accessible than they are today, according to ABA, BAFT and the Clearing House
Poll: Midsize businesses seek to increase payments options
Newer payments systems such as social tokens and virtual cards are growing more popular among midsize businesses to conduct financial transactions, but traditional payment methods such as checks and physical credit cards still dominate, according to a new survey by Citizens Bank.
Subramanian elected to lead BAFT board
BAFT, the ABA’s global transaction banking subsidiary, has elected Suresh Subramanian as chair of its board for the 2023-24 association year.
Podcast: Counting down to the FedNow launch
After years of being “FedSoon,” the Federal Reserve’s instant payment network FedNow is preparing to go live this summer. What do banks need to know in the final months before launch?
ABA-advocated SAFE Banking Act introduced in House, Senate
A bipartisan group of lawmakers reintroduced the SAFE Banking Act, an ABA-championed bill that would address the conflict between state law and federal law over cannabis banking.
Americans blame themselves for falling for real-time payment scams
Most Americans say they are personally at fault when authorizing a real-time payment to a scammer, although most also believe their bank should refund the lost money, according to a new survey by FICO.
Fed: Noncash payment numbers exploded in recent years
The value of core noncash payments in the U.S. grew faster from 2018 to 2021 than at any time since the Federal Reserve began measuring the metric more than two decades ago, the agency said.
ABA report: Consumers managing credit well despite continued headwinds
Consumers continued to manage their credit well despite economic headwinds in the third quarter of 2022, according to the latest ABA Credit Card Market Monitor released this week.