JPMorgan Revenue Rises on Payments, Card Income
JPMorgan Chase reported a strong first‑quarter performance, driven by a 12% jump in payments‑services revenue to $5.1 billion and a 9% rise in credit‑and‑debit card transaction volume. The commercial banking division benefited from higher corporate deposit balances and increased fee income, while consumer card holders carried larger balances despite lower interest rates. The results suggest that both corporate and consumer spending remained resilient amid global macro‑economic uncertainty. JPMorgan’s earnings outpaced peers such as Bank of America and Wells Fargo, underscoring its market leadership.
Stablecoins Remain Little Used for Payments
The Kansas City Fed estimates the stablecoin market at $300.5 billion, with nearly half (48.8%) serving as a trading asset and only 0.7% used for payments. About one‑third (29.3%) facilitate fund transfers, while roughly one‑fifth (21.2%) sit idle. The report notes...
DailyPay Pushes Back Against NY AG
DailyPay is fighting a New York Attorney General lawsuit that accuses it of violating state usury laws by offering high‑interest earned‑wage‑access loans. The company argues it is merely an adjunct to employer payroll systems, providing on‑demand pay that already belongs...
Which Discover Jobs Are Disappearing
Capital One is trimming Discover Financial Services staff, targeting application engineers for the steepest reductions. The bank plans to eliminate 124 application engineers, 54 senior associate application engineers, and 38 principal application engineers by May 4, part of a broader 1,139‑job...
Expensive Tabs Shift to Mobile: Stripe
Stripe’s latest checkout report shows U.S. shoppers increasingly using mobile devices for higher‑priced purchases, with mobile share rising across every price tier over the past two years. Mobile transactions grew by 4.1 percentage points for purchases between $500 and $2,000,...
Repay Faces Kubra Purchase Opposition
Repay Holdings announced a $372 million cash‑plus‑debt acquisition of Kubra Data Transfer, aiming to merge complementary payment platforms. The combined entity would have generated roughly $548 million in revenue and $178 million of adjusted EBITDA last year. Veradace Partners, an 8.4 % shareholder, publicly...
Adyen Tool Speeds Business Payments
Netherlands‑based fintech Adyen unveiled Intelligent Money Movement, a unified platform that combines payment collection, payout processing, and liquidity management for large enterprises. The tool addresses the typical treasury setup of five to six banks, over 40 accounts and roughly a...
Bolt Lays Off Roughly 30% of Staff in AI Push
Bolt Financial announced it is cutting roughly 30% of its workforce, affecting fewer than 40 employees, as it pivots toward an AI‑centric operating model. CEO Ryan Breslow, who returned to the role in 2025, framed the move as essential to...
Why the Subscription Model Should Change
The U.S. Justice Department and FTC settled with Adobe for $150 million over deceptive subscription‑cancellation practices, sparking debate between regulators and SaaS firms. The settlement highlights that hidden or cumbersome cancel flows are not a retention tactic but a "trust tax"...
How US Credit Card Fees May Ebb
In a recent Nilson Report interview, publisher David Robertson affirmed that Visa and Mastercard will likely retain their U.S. dominance despite the rise of digital wallets and fintech challengers. He noted that merchants, led by giants like Walmart, are pressing...
Stablecoins to Infiltrate Market, Investors Say
Venture capital firm QED Investors hosted a panel asserting that stablecoins will augment, not replace, existing payment rails, creating a hybrid model that leverages the speed and low cost of crypto alongside the reliability of traditional systems. The discussion highlighted...
Fiserv, Grocer Expand Pay-by-Bank Effort
Payments processor Fiserv is widening its pay‑by‑bank pilot with the U.S. arm of Dutch grocer Ahold Delhaize, extending the service beyond the three initial brands to a broader customer base. The program, first launched last year on The Giant Company, Giant Food and Stop & Shop...
Illinois AG Defends Card Fee Law
Illinois Attorney General Kwame Raoul defended the Interchange Fee Prohibition Act, which bars merchants from passing interchange levies on sales tax and gratuities, before the 7th U.S. Circuit Court of Appeals. The state argues the law does not conflict with the...
US Digital Wallet Use Projected to Grow by 2030
Worldpay’s 2026 Global Payments Report forecasts a decisive shift in U.S. consumer behavior, with digital wallets expected to handle 44% of online purchases and 26% of in‑store transactions by 2030. Already leading e‑commerce payments at 40%, digital wallets are set...
Global Cyber Fraud Attacks Rose Last Year
LexisNexis Risk Solutions reported that global cyber‑fraud rates rose to 1.6% across 116 billion online transactions last year, up from 1.5% in 2024. Bot‑driven attacks surged 59%, while human‑initiated fraud grew only 8%, with gaming, gambling and e‑commerce most affected. In...
